Prime Highlights
- GRSE posted its highest-ever annual revenue of Rs 6,400 crore in FY26, a 26% rise year-on-year.
- Shares surged nearly 20% on Wednesday following the strong provisional business update.
Key Facts
- The company delivered eight vessels to the Indian Navy during the year, including two Project 17A frigates.
- GRSE declared an interim dividend of 129% of paid-up capital, up from 89.5% in FY25.
Background
Garden Reach Shipbuilders and Engineers Ltd.’s shares climbed nearly 20% on Wednesday after the defence shipbuilder reported its best-ever annual revenue figures for FY26, cheering investors who had been watching the stock closely.
The Kolkata-based company recorded revenue of Rs 6,400 crore for the financial year, a 26% increase from Rs 5,076 crore in FY25. While the number marks a new high for GRSE, it fell short of the company’s own target of around 40% growth. The company also did not give an update on its order book, where it had aimed for Rs 50,000 crore, subject to winning the Next Generation Corvette contract.
On the operational side, FY26 turned out to be a busy and significant year. GRSE delivered eight vessels to the Indian Navy, including two Project 17A frigates, two Survey Vessel Large ships and four Anti-Submarine Warfare Shallow Water Crafts. Five vessels were also commissioned during the year, among them INS Himgiri, INS Ikshak and the first three ASW-SWC ships. In a notable achievement, the company delivered three warships on a single day.
GRSE said it is in advanced talks to finalise a contract for five Next Generation Corvettes, which could add substantially to its order pipeline.
On the non-shipbuilding side, the company delivered seven 30mm naval surface gun systems and launched an indigenous modular foot suspension bridge capable of spanning 400 feet without piers.
GRSE also declared an interim dividend of 129% of paid-up capital, up from 89.5% the previous year.