New Delhi: Goa Shipyard Limited (GSL), a Government of India undertaking under the Ministry of Defence, reported a strong financial and operational performance for FY 2025-26, with total revenue crossing the ₹4,000-crore mark and profit before tax (PBT) rising 17 per cent to ₹442 crore.
The company held its 60th Annual General Meeting (AGM) on September 25, 2026, through video conferencing. The meeting was chaired by Brajesh Kumar Upadhyay, Chairman and Managing Director, Goa Shipyard Limited, and the audited financial statements for FY 2025-26 were adopted.
The financial year also marked a significant milestone for GSL as the company was elevated from Schedule ‘B’ to Schedule ‘A’ Central Public Sector Enterprise (CPSE) status on March 2, 2026.
Goa Shipyard Revenue Rises 32% to ₹3,764 Crore
GSL recorded significant growth across its key financial parameters during FY 2025-26.
- Revenue from operations: ₹3,764 crore, up 32% year-on-year
- Total revenue: ₹4,004 crore
- EBITDA: ₹522 crore, compared with ₹460 crore in the previous year
- Profit Before Tax: ₹442 crore, up 17%
- Net worth: ₹1,936 crore
- Earnings Per Share: ₹28.47
The company said its financial performance has expanded significantly over the last five years. Total revenue increased from ₹865 crore in FY 2021-22 to ₹4,004 crore in FY 2025-26, while PBT rose from ₹135 crore to ₹442 crore during the same period.
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GSL Declares 171% Final Dividend
During the AGM, Goa Shipyard announced a final dividend of 171% for FY 2025-26, amounting to ₹8.55 per share of ₹5 each.
The dividend was higher than the ₹7.65 per share paid in the previous financial year, reflecting the company’s financial performance during FY 2025-26.
Goa Shipyard Order Book Exceeds ₹13,000 Crore
GSL’s order book stood at more than ₹13,000 crore as of March 31, 2026. The company expects the order book to rise to approximately ₹32,400 crore following the signing of a high-value naval contract.
The anticipated increase is expected to provide greater revenue visibility for the company’s upcoming shipbuilding programmes.
GSL is currently executing major projects for the Indian Navy, including:
- Frigates
- Next Generation Offshore Patrol Vessels (NGOPVs)
The company achieved a major milestone with the launch of its first NGOPV on March 31, 2026.
GSL Delivers Major Ships for Indian Coast Guard
Goa Shipyard also reported progress on several projects for the Indian Coast Guard.
The company delivered the first Pollution Control Vessel, ICGS Samudra Pratap, to the Coast Guard on December 23, 2025. The vessel was subsequently commissioned in January 2026.
GSL also delivered multiple Fast Patrol Vessels to the Indian Coast Guard during the period, strengthening its contribution to domestic defence shipbuilding.
Export Turnover Increases 55% to ₹127 Crore
GSL’s export business recorded strong growth during FY 2025-26. The company’s export turnover increased 55% to ₹127 crore.
Key export-related milestones during the period included:
- Launch of a 4,000-tonne Floating Dry Dock for a foreign navy.
- Keel-laying of a 2,000-cubic-metre trailing suction hopper dredger for a European customer.
- Construction and handover of the Fast Patrol Vessel LESPWAR to the Seychelles Coast Guard.
The LESPWAR was formally handed over to the Seychelles Coast Guard in June 2026.
GSL Advances Aatmanirbhar Bharat in Shipbuilding
Goa Shipyard continued to focus on increasing indigenous content across its projects in line with the Aatmanirbhar Bharat initiative.
The company has been encouraging procurement from Indian MSMEs and startups, supporting the development of a domestic shipbuilding supply chain.
GSL’s CMD also highlighted the company’s contribution towards strengthening India’s self-reliance in the defence and shipbuilding sector.
₹6.61 Crore Spent on CSR Initiatives
During FY 2025-26, Goa Shipyard spent ₹6.61 crore on Corporate Social Responsibility (CSR) initiatives.
The CSR programmes covered areas including:
- Healthcare
- Education
- Sanitation
- Women’s empowerment
- Livelihood development
Goa Shipyard Elevated to Schedule A CPSE
One of the key achievements highlighted during the AGM was GSL’s elevation from Schedule ‘B’ to Schedule ‘A’ CPSE status on March 2, 2026.
The company described the elevation as an important milestone in its growth journey, alongside the successful execution of major shipbuilding projects and expansion of its capabilities.
Speaking at the AGM, CMD Brajesh Kumar Upadhyay highlighted the company’s operational achievements, financial growth and future outlook. He also acknowledged the support of the Ministry of Defence, government authorities, shareholders, directors and employees.
About Goa Shipyard Limited
Goa Shipyard Limited (GSL) is a Government of India undertaking under the Ministry of Defence and a major Indian defence shipbuilder. The company designs and builds vessels for the Indian Navy and Indian Coast Guard and also undertakes shipbuilding projects for international customers. GSL has capabilities across naval and coast guard vessel construction and continues to focus on indigenous shipbuilding, defence production and expansion of its domestic and export business.
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