GRSE posts record Rs 6,400 crore turnover, delivers eight vessels to Indian Navy

Garden Reach Shipbuilders & Engineers Limited (GRSE) on Tuesday reported its largest-ever annual turnover of Rs 6,400 crore (provisional and unaudited) in FY26, up from Rs 5,076 crore in FY25. The shipyard also declared an interim dividend of 129%, compared with 89.5% last year.

According to the company, it delivered a total of eight vessels to the Indian Navy, including two Project 17A frigates, two Survey Vessel Large ships, and four Anti-Submarine Warfare Shallow Water Crafts. On one day, the shipyard delivered three warships—Dunagiri, Sanshodhak, and Agray—simultaneously. It is also in the advanced stages of building five Next Generation Corvettes.

Also Read: Indian Navy gets three GRSE-built ships, including frigate and ASW craft


The shipyard is also building research ships, hybrid ferries, and commercial vessels, and made progress on 12 export vessels for Germany and a dredger for a friendly foreign country. It remains the only Defence PSU shipyard making prefabricated steel bridges, launching a first-of-its-kind Modular Foot Suspension Bridge capable of spanning 400 feet without piers.

Technology and innovation were also in focus. GRSE inaugurated a Next Generation Virtual Reality (NGVR) Lab and signed MoUs with Hindustan Shipyard Ltd, K2 Cranes & Components, Kalyani Strategic Systems, SWAN Defence & Heavy Industries, and Reintjes GmbH, Germany. Additionally, the shipyard hosted the third edition of GAINS 2025, showing its growing footprint in defence manufacturing.