Garden Reach Shipbuilders & Engineers Ltd. Reports Record Turnover, Declares Interim Dividend of 129%
Kolkata, 31 March 26 – Garden Reach Shipbuilders & Engineers Limited (GRSE) announced a record annual turnover for fiscal year 2025-26, reaching ₹ 6,400 crore (provisional and unaudited), compared to ₹ 5,076 crore in fiscal year 2024-25. The company also declared an interim dividend of 129% of paid-up share capital, up from 89.5% in fiscal year 2024-25.During fiscal year 2025-26, GRSE commissioned five vessels, including INS Himgiri, the first Project 17A Advanced Frigate, INS Ikshak, the third Survey Vessel (Large), and the first three Anti-Submarine Warfare Shallow Water Crafts (ASW-SWC) – INS Arnala, INS Androth, and INS Anjadip.
The shipyard delivered a total of eight vessels to the Indian Navy, comprising two Project 17A (P17A) frigates, two Survey Vessel Large (SVL) ships, and four Anti-Submarine Warfare Shallow Water Crafts (ASW-SWC). This includes the simultaneous delivery of three warships—Dunagiri, Sanshodhak, and Agray—to the Indian Navy. GRSE is also in advanced stages of concluding a contract for five Next Generation Corvettes.
Beyond warships, GRSE expanded its portfolio to include specialized platforms such as Acoustic, Coastal, and Ocean Research Ships, Hybrid Ferries, and commercial vessels. The company made progress in the construction of 12 export vessels for a German client, and a Dredger for a foreign country.
GRSE also launched a Modular Foot Suspension Bridge (FSB), a fully indigenous structure, and delivered seven 30mm Naval Surface Gun systems to the Indian Navy, in addition to executing multiple refit projects.
The company strengthened its capabilities with the inauguration of a Next Generation Virtual Reality (NGVR) Lab and strategic Memorandums of Understanding (MoUs) with Hindustan Shipyard Ltd, K2 Cranes & Components Pvt. Ltd., Kalyani Strategic Systems Ltd, SWAN Defence & Heavy Industries Ltd, and Reintjes GmbH, Germany. GRSE received 26 awards, including the 'Excellence in Financial Performance' Award presented by Defence Minister Shri Rajnath Singh.
GRSE, a Defence Public Sector Undertaking, has built over 800 platforms, including 118 warships.
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