Kolkata: Garden Reach Shipbuilders and Engineers (GRSE) Ltd, a premier Defence Public Sector Undertaking (DPSU), has announced a record Profit After Tax (PAT) of ₹527 crore for the financial year 2024-25, marking an impressive 48% jump from ₹357 crore recorded in the previous fiscal. The milestone underscores the company’s strong growth trajectory and operational excellence in a year of significant expansion.
The Kolkata-headquartered warship manufacturer also reported a substantial 39% rise in total income, which surged to ₹5,411 crore in FY 2024-25 from ₹3,892 crore in FY 2023-24. The strong revenue growth is attributed to enhanced production capabilities, efficient execution of ongoing defence contracts, and increasing traction in the commercial shipbuilding segment.
GRSE’s Earnings Per Share (EPS) climbed to ₹46.04 in FY 2024-25, up from ₹31.19 the previous year, reflecting the improved profitability and financial strength of the organization.
In a reflection of its strong balance sheet, GRSE declared a total dividend payout of 138.5% of its paid-up share capital for the year, significantly higher than the 93.6% declared in FY 2023-24. The increased dividend demonstrates the company’s commitment to rewarding shareholders while maintaining a robust reinvestment strategy.
Leadership Outlook and Strategic Direction
Commenting on the company’s performance, Commodore P R Hari (Retd), Chairman and Managing Director of GRSE, expressed optimism about the future:
“With our strong order book, production maturity of ongoing projects, and order visibility – including in the commercial shipbuilding segment – I am confident of even better performance during the current financial year.”
GRSE continues to be a key contributor to India’s defence preparedness, particularly through indigenous design and construction of complex warships for the Indian Navy and Coast Guard. The company has played a pivotal role in bolstering India’s maritime capabilities, with an increasing focus on exports and diversification into the commercial vessel market.
Future Outlook
Looking ahead, GRSE’s growing expertise in modular construction, digital transformation initiatives, and expansion into new markets positions it strongly to capitalize on emerging opportunities in both defence and commercial shipbuilding. The firm’s healthy order pipeline and execution efficiency are expected to drive continued profitability and shareholder value in the coming years.
About GRSE
GRSE,established in 1884 and headquartered in Kolkata, is one of India’s leading defence shipyards and a key contributor to the country’s naval shipbuilding capabilities. It is a Category I Miniratna PSU operating under the administrative control of the Ministry of Defence. With a legacy of over 140 years, GRSE has played a pivotal role in designing and constructing a wide variety of complex naval vessels for the Indian Navy, Indian Coast Guard, and friendly foreign navies.
