GRSE shares rose 16%; Here’s what defense PSU management said

Shares of defense PSU Garden Reach Shipbuilders and Engineers (GRSE) rose over 16% on the BSE on Wednesday to Rs. 2,289.60, as the state-run shipyard posted its highest ever annual turnover for the financial year 2025-26 at Rs. 6,400 crore, compared to Rs. 5,076 crore is 26% higher.

Provisional and unaudited results A landmark year in which GRSE delivered eight ships to the Indian Navy, the most in a single financial year, including two Project 17A frigates, two survey vessel large ships and four anti-submarine warfare shallow water craft.

In a remarkable feat, the shipyard took delivery of three warships—Dunagiri, Ravishvi and Agre—to the Indian Navy on a single day during the financial year 2025-26.

The year also marked crucial naval commissioning milestones, with five ships entering active service: INS Himgiri, the first Project 17A advanced frigate; INS Ikshak, Third Survey Vessel (Large); and the first three anti-submarine warfare shallow water craft—INS Arnala, INS Androth and INS Anjdeep, the company said in a press release.

GRSE said it is “in the advanced stages of finalizing prestigious contracts for the production of five next-generation Corvettes,” signaling continued order book expansion.

In addition to naval construction, the shipyard has diversified into specialized platforms, including acoustic, coastal and ocean research ships, hybrid ferries and commercial vessels. It has “achieved significant progress in the construction of 12 export vessels for a German client as well as a dredger for a friendly foreign country,” GRSE said.

In a first for India’s defense sector, GRSE launched the Modular Foot Suspension Bridge during the year – “a completely indigenous structure that spans 400 feet without the need for piers.” The shipyard delivered seven 30mm Naval Surface Gun Systems to the Indian Navy and executed multiple refit projects.

The company noted that GRSE “remains the only defense public sector shipyard engaged in the manufacture of prefabricated steel bridges.”

Shipyard through inauguration of Next Generation Virtual Reality Lab and Hindustan Shipyard Ltd., K2 Cranes & Components Pvt. Ltd., Kalyani Strategic Systems Ltd., Swan Defense & Heavy Industries Ltd. and Reintjes GmbH, Germany.