Garden Reach Shipbuilders & Engineers Limited (GRSE) has posted a robust performance for the first quarter ended June 30, 2025, recording significant growth in both revenue and profitability compared to the same period last year. In the first quarter of FY26, the company reported a strong financial performance with total income reaching ₹1,382 crore, reflecting a 28% increase compared to ₹1,084 crore in the same period last year.
Revenue from operations also saw significant growth, rising 30% year-on-year to ₹1,310 crore from ₹1,010 crore. Earnings before interest, tax, depreciation, and amortization (EBITDA) climbed 42%, reaching ₹184 crore against ₹130 crore in Q1 FY25.
Profitability improved markedly, with profit before tax increasing 45% to ₹167 crore from ₹115 crore, while profit after tax grew by 38%, standing at ₹120 crore compared to ₹87 crore a year earlier. The company’s earnings per share also showed a strong uptick, rising to ₹10.49 from ₹7.61 during the same quarter last year. Cmde Hari PR, IN (Retd), Chairman and Managing Director, said the company had begun FY26 on a positive note, backed by healthy production maturity levels across ongoing projects, and expressed confidence in sustaining the growth momentum.
Founded in 1884 as a small vessel repair workshop, GRSE became a Government of India enterprise in 1960 and earned the distinction of being the first shipyard in independent India to build a warship — the Seaward Defence Boat INS Ajay in 1961. Over the decades, it has delivered more than 800 platforms, including 112 warships, to the Indian Navy, Indian Coast Guard, and friendly foreign nations.
The company’s export portfolio includes the CGS Barracuda for Mauritius, the SCG PS Zoroaster for Seychelles, and the MV Ma Lisha for Guyana. Recognised as a Miniratna Category I company since 2006, GRSE operates four shipyards, enabling concurrent construction of up to 28 ships. Its capabilities span frigates, corvettes, patrol vessels, landing ships, and other specialised platforms, as well as ship repair, engine production, and engineering products such as deck machinery, portable steel bridges, and marine pumps.
GRSE has received multiple industry accolades, including the Raksha Mantri Award 2022 for designing the most silent anti-submarine warfare vessel for the Indian Navy, and the Best Performing Defence Shipyard of India title for four consecutive years. With modernised facilities, advanced design capabilities, and a skilled workforce, the company continues to pursue its mission of excellence in shipbuilding.
