Kolkata: Garden Reach Shipbuilders & Engineers Limited (GRSE), a public sector undertaking (PSU) under the Ministry of Defence, has announced robust financial results for the second quarter and half year ended September 30, 2025. The company reported strong growth across key financial parameters, reflecting sustained operational momentum and effective project execution.
Strong Quarterly Performance
GRSE posted a Profit Before Tax (PBT) of ₹209 crore in Q2FY26, compared to ₹131 crore in Q2FY25 — a remarkable 60% year-on-year (Y-o-Y) increase. The company’s Total Income rose to ₹1,746 crore in Q2FY26, up 42% from ₹1,228 crore in the same quarter last year.
Revenue from Operations grew 45% Y-o-Y, reaching ₹1,677 crore compared to ₹1,153 crore in Q2FY25. The Earnings Before Interest, Tax, Depreciation and Amortization (EBITDA) surged 56%, standing at ₹225 crore versus ₹144 crore in the corresponding quarter of FY25.
The Profit After Tax (PAT) climbed 57%, touching ₹154 crore in Q2FY26 against ₹98 crore in Q2FY25. Correspondingly, the Earnings Per Share (EPS) improved to ₹13.43, up from ₹8.54 a year earlier.
Half-Yearly Performance (H1FY26 vs H1FY25)
For the first half of FY26, GRSE’s Total Income stood at ₹3,128 crore, marking a 35% increase over ₹2,311 crore reported in H1FY25. Revenue from Operations rose 38% to ₹2,987 crore from ₹2,163 crore in the same period last year.
The company’s EBITDA for H1FY26 was ₹409 crore, registering a 49% growth from ₹274 crore in H1FY25. PBT grew 53%, reaching ₹376 crore compared to ₹246 crore previously. Similarly, PAT rose 48% to ₹274 crore from ₹185 crore in H1FY25.
Management Outlook
Commenting on the results, Cmde P.R. Hari, IN (Retd.), Chairman and Managing Director of GRSE, said,
“I am happy that we have been able to sustain the growth momentum and the Q2 results have been very encouraging. With a strong order book, result-oriented project execution strategy, and clear order visibility, I am confident of equally strong financial performance in the second half of FY26 as well.”
About GRSE
Garden Reach Shipbuilders & Engineers Limited (GRSE) is a leading public sector undertaking under the Ministry of Defence, Government of India. Headquartered in Kolkata, GRSE is one of India’s premier warship builders, engaged in the design and construction of state-of-the-art naval vessels for the Indian Navy and Indian Coast Guard. The company has also diversified into engineering products and marine infrastructure, contributing significantly to the nation’s maritime self-reliance and defence manufacturing capabilities.
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