New Delhi: State-run shipbuilder Garden Reach Shipbuilders & Engineers Limited (GRSE) has reported its highest-ever annual turnover of Rs 6,400 crore (provisional and unaudited) for FY 2025–26, marking a significant growth from Rs 5,076 crore in FY 2024–25. The company has also announced an interim dividend of 129%, up from 89.5% declared in the previous fiscal year.
Strong Financial Performance and Dividend Boost
GRSE’s record turnover reflects robust growth in its naval and commercial shipbuilding activities. The interim dividend of 129% on paid-up share capital demonstrates the company’s commitment to delivering value to its shareholders, while strengthening its financial standing for future projects.
Read also: GRSE Delivers Three Advanced Warships to Indian Navy, Boosting Indigenous Defence Capabilities
Milestones in Naval Shipbuilding
During FY 2025–26, GRSE achieved several key milestones in naval shipbuilding:
- Commissioned five major vessels, including INS Himgiri (first Project 17A advanced frigate), INS Ikshak, and three Anti-Submarine Warfare Shallow Water Crafts — INS Arnala, INS Androth, and INS Anjadip.
- Delivered a total of eight vessels to the Indian Navy, comprising:
- Two Project 17A frigates
- Two Survey Vessel Large ships
- Four Anti-Submarine Warfare Shallow Water Crafts
- Achieved the rare feat of delivering three warships — Dunagiri, Sanshodhak, and Agray — on the same day.
The shipyard is also finalizing a contract for five Next Generation Corvettes, further strengthening its order book.
Expansion into Specialized and Export Platforms
Beyond warships, GRSE expanded its portfolio to include:
- Research vessels, hybrid ferries, and commercial ships
- 12 export vessels for a German client
- A dredger for a friendly foreign nation
Additionally, GRSE maintained its leadership as the only Defence PSU manufacturing prefabricated steel bridges, launching the first-of-its-kind indigenous Modular Foot Suspension Bridge capable of spanning up to 400 feet without piers.
Technological Advancements and Strategic Partnerships
GRSE has made significant strides in technology and collaborations:
- Delivered seven 30mm Naval Surface Gun systems to the Indian Navy
- Executed multiple refit projects
- Inaugurated a Next Generation Virtual Reality Lab
- Signed strategic MoUs with industry partners, including Hindustan Shipyard Limited and Kalyani Strategic Systems Limited
These initiatives aim to enhance operational efficiency, strengthen technological capabilities, and expand GRSE’s global footprint.
Recognition and Awards
GRSE’s performance during the year earned 26 awards, including the prestigious “Excellence in Financial Performance” award conferred by Defence Minister Rajnath Singh. These accolades reflect the company’s operational excellence, financial discipline, and strategic growth in both domestic and international markets.
About GRSE
Garden Reach Shipbuilders & Engineers Limited (GRSE) is a leading state-owned shipbuilding company specializing in warships, research vessels, commercial ships, and defense platforms. With a strong track record in naval shipbuilding, technological innovation, and infrastructure development, GRSE continues to play a pivotal role in India’s maritime security and defense manufacturing ecosystem.
Read also: GRSE Bags Multiple Awards in FY 2025‑26, Celebrated as “26 in 26” for Excellence and Innovation
