Kolkata: In a major boost to India’s defence manufacturing sector, the Department of Public Enterprises (DPE) under the Ministry of Finance has granted Navratna status to Garden Reach Shipbuilders & Engineers Limited (GRSE). Approved on June 19, 2026, the elevation makes GRSE the 29th Navratna CPSE in the country, providing it with greater financial and operational autonomy. The recognition reflects the company’s strong financial performance, operational excellence, and growing role in strengthening India’s maritime security and advancing the Atmanirbhar Bharat vision.
Greater Financial and Operational Autonomy
With the Navratna status, GRSE now gains enhanced financial and operational autonomy. This will enable the company to take faster decisions, streamline execution, and accelerate the development of advanced defence platforms.
The company stated that this recognition will help it pursue strategic opportunities and strengthen India’s self-reliance in defence manufacturing while improving global competitiveness.
Read also: GRSE Appoints IAS Officer Dr Vijay N. Zade as Government Nominee Director on Board
Strong Financial Growth and Performance
GRSE has reported significant growth in recent years. According to official data:
- Revenue from operations rose to ₹7,002 crore in FY26 from ₹1,754 crore in FY22
- Profit after tax increased to ₹748 crore from ₹190 crore in the same period
This strong financial performance reflects robust order execution and growing demand for defence vessels.
Delivery of Advanced Warships and Projects
In FY26, GRSE delivered eight warships, including three vessels on a single day (March 30). These included:
- Advanced guided-missile frigate Dunagiri
- Survey vessel Sanshodhak
- Anti-submarine warfare shallow water craft Agray
The company has so far built over 800 marine platforms and delivered 118 warships to the Indian Navy, Coast Guard, and friendly foreign nations.
Expansion and Future Growth Plans
GRSE is actively expanding its capacity through both brownfield and greenfield projects. The company is also:
- Building 12 multi-purpose vessels for a German client
- Exploring green and autonomous vessel technologies
- Strengthening its defence and commercial shipbuilding portfolio
These initiatives aim to position GRSE as a global player in advanced shipbuilding technologies.
Stock Performance
GRSE shares have gained nearly 15% year-to-date. On June 19, the stock closed at ₹2,799 on the National Stock Exchange (NSE), reflecting positive investor sentiment following the Navratna upgrade.
About GRSE
Garden Reach Shipbuilders & Engineers Limited is a Government of India-owned defence shipbuilding company based in Kolkata. It specializes in building warships and advanced marine vessels for the Indian Navy and Coast Guard, and is also expanding into commercial and export markets. The company plays a key role in strengthening India’s maritime defence capabilities and promoting self-reliance in shipbuilding.
