Garden Reach Shipbuilders rises after strong Q3 performance

Garden Reach Shipbuilders & Engineers added 3.90% to Rs 2617.80 after the company reported 74% jump in consolidated net profit to Rs 171 crore in Q3 FY26 from Rs 98 crore in Q3 FY25.

Revenue from operations increased to Rs 1,896 crore during the period under review, up 49% YoY.

EBITDA improved by 59% to Rs 234 crore in Q3 FY26 from Rs 134 crore in Q3 FY25.

Profit before tax stood at Rs 218 crore in Q3 FY26, up by 63% from Rs 134 crore recorded in Q3 FY25.

Cmde PR Hari, IN (Retd.), chairman and managing director, Garden Reach Shipbuilders & Engineers, said: "With a strong set of numbers recorded during Q3 FY26, we are well on track to register our best-ever financial performance during the current financial year."

"We have delivered five warships so far during the year and are currently executing 10 major shipbuilding projects comprising of 42 platforms. Our other verticals, like Ship Repairs, Portable Steel Bridges and Naval Weapon Systems are also doing well.

With the Next Generation Corvette contract on the anvil, we are confident of ending the current financial year with an orderbook of around Rs. 50,000 crore, the chairman added.

Separately, Garden Reach Shipbuilders and Engineers (GRSE) said that it has signed a memorandum of understanding with K2 Cranes & Components for the design, development, and manufacture of marine, defence and shipyard cranes and associated equipment.

"While GRSEs mainstay continues to remain warship building and construction of other marine platforms, it also manufactures engineering products. It holds the largest market share in the country in the modular, steel bridges sector, having delivered over 5,900 of them to both domestic and international clients, the company said in a statement.

It further stated that this collaborative initiative will enable GRSE and K2 Cranes to explore and implement profitable business in respect of cranes utilized for marine, defence and shipyard requirements, both in India and abroad.

Garden Reach Shipbuilders & Engineers (GRSE) is a defence public sector undertaking, under the administrative control of Ministry of Defence, and a Schedule A Mini Ratna Category-I company. GRSE has built over 800 platforms, including 115 warships for Indian Navy, Indian Coast Guard, and friendly foreign countries. GRSE has also diversified into engineering business with a product profile of pre-fabricated steel bridges, various deck machinery items and assembly, testing & overhauling of marine diesel engines and the manufacture of 30mm naval surface guns.

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