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Profit before tax (PBT) rose 38.88% to Rs 231.53 crore in Q1 FY27 from Rs 166.72 crore in the corresponding quarter last year.
Total expenses climbed 38.41% YoY to Rs 1,682.66 crore in Q1 FY27, compared with Rs 1,215.70 crore in Q1 FY26. Cost of materials consumed stood at Rs 1,244.23 crore (up 83.01% YoY), employee benefits expense was Rs 101.35 crore (down 4.34% YoY), and subcontracting charges stood at Rs 81.52 crore (down 65.41% YoY), while finance costs declined 38.15% YoY to Rs 3.76 crore during the quarter.
GRSE traces its origins to 1884 and was taken over by the Government of India in 1960. The company delivered India's first indigenous warship, INS Ajay, in 1961 and has since built more than 800 marine platforms, including 118 warships for the Indian Navy, Coast Guard, and friendly foreign nations.
The company is also expanding its commercial shipbuilding business. It is currently constructing 12 multi-purpose vessels for a German client and has ventured into green and autonomous vessel development. GRSE said it is the only Indian shipyard specializing in research vessels.
Shares of Garden Reach Shipbuilders & Engineers rose 0.20% to Rs 2,617.95 on the BSE.
Shares of Kaynes Technology India are banned from F&O trading on 22 June 2026.
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Garden Reach Shipbuilders & Engineers (GRSE) has been granted Navratna status by the Department of Public Enterprises (DPE) under the Ministry of Finance. The company said the recognition reflects its strong financial performance, operational efficiency and contribution to national security.
GE Power India announced a series of senior leadership changes, including the appointment of Rahul Rojal as Chief Financial Officer (CFO), as the company strengthens its management team amid ongoing business and project execution initiatives.
Goodluck India announced that its subsidiary, Goodluck Defence and Aerospace, has secured an order worth approximately Rs 255 crore for the supply of 155 mm long-range empty shells in ready-to-fill condition.
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Texmaco Rail & Engineering has received a letter of intent (LoI) worth Rs 253.28 crore from JSW (South) Rail Logistics for the manufacture and supply of BFNSM1 rakes along with BVCM wagons. The domestic order is scheduled to be executed within 13.5 months from the effective date or commencement of work.
Navratna status provides greater financial and operational autonomy to public sector enterprises, enabling them to undertake larger investments and expansion projects without requiring extensive government approvals.
GRSE said it delivered eight warships during FY26, including three vessels on a single day - 30 March 2026. These included the Project 17A guided-missile frigate Dunagiri, survey vessel Sanshodhak and anti-submarine warfare shallow water craft Agray.
The elevation to Navratna status comes as the Kolkata-based shipbuilder pursues capacity expansion through both brownfield and greenfield projects.
Commenting on the development, chairman and managing director Commodore P.R. Hari (Retd.) said the recognition would strengthen its ability to pursue strategic opportunities, enhance self-reliance in defence manufacturing and improve global competitiveness.
GRSE traces its origins to 1884 and was taken over by the Government of India in 1960. The company delivered India's first indigenous warship, INS Ajay, in 1961 and has since built more than 800 marine platforms, including 118 warships for the Indian Navy, Coast Guard and friendly foreign nations.
The company is also expanding its commercial shipbuilding business. It is currently constructing 12 multi-purpose vessels for a German client and has ventured into green and autonomous vessel development. GRSE said it is the only Indian shipyard specialising in research vessels.
The company’s standalone net profit surged 24.1% to Rs 303.20 crore in Q4 FY26, compared with Rs 244.25 crore in Q4 FY25. Revenue from operations jumped 29.1% YoY to Rs 2,119.21 crore during the quarter ended 31 March 2026.
On the NSE, the scrip shed 0.93% to settle at Rs 2,799 on Friday.
The appointment was made through a letter dated June 5, 2026, issued by the Department of Defence Production (DDP), Ministry of Defence, the state-run defence shipbuilder said in a regulatory filing.
Dr Zade is a 2002-batch IAS officer of the Punjab cadre and currently serves as Joint Secretary (Naval Systems) in the Department of Defence Production. He oversees financial, administrative and operational matters related to defence public sector shipyards and is involved in technology indigenisation and defence industrial cooperation initiatives.
He holds a doctorate in Horticulture (Post Harvest Technology) from the Indian Agricultural Research Institute, New Delhi, an MBA from Sikkim Manipal University and an MSc in Public Management and Governance from the London School of Economics and Political Science.
Prior to joining the IAS, Dr Zade worked as a Junior Scientist at the National Research Centre for Grapes, Pune, and also served in the Indian Audit and Accounts Service. During his administrative career, he has held key positions in the governments of Punjab, Maharashtra and the Union Territory of Chandigarh across finance, urban development, health, industry and other departments.
GRSE said Dr Zade does not hold any equity shares in the company and has no inter-se relationship with any other director on the board.
Garden Reach Shipbuilders & Engineers is a defence public sector shipyard under the Ministry of Defence. It was the first Indian shipyard to build a warship for the Indian Navy and has since delivered over 800 platforms, including 118 warships for domestic and international clients. The company operates four shipyards and has diversified into engineering products such as prefabricated bridges and marine systems.
The scrip shed 0.80% to Rs 2,654.65 on the BSE.