GRSE Q2 PAT soars 57% YoY to Rs 154 cr

Garden Reach Shipbuilders & Engineers' (GRSE) standalone net profit surged 57.28% to Rs 153.78 crore in Q2 FY26, compared with Rs 97.77 crore in Q2 FY25.

Revenue from operations jumped 45.48% YoY to Rs 1,677.38 crore during the quarter ended 30 September 2025.

Profit before tax (PBT) soared 60.39% to Rs 209.36 crore in Q2 FY26 as against Rs 130.53 crore in Q2 FY25.

Earnings before interest, tax, depreciation and amortization (EBITDA) stood at Rs 225 crore in Q2FY26, registering a 56% year-on-year growth from Rs 144 crore reported in Q2FY25.

Total expenses increased 40.04% to Rs 1,536.71 crore in Q2 FY26, compared with Rs 1,097.30 crore in Q2 FY25. The cost of material consumed stood at Rs 677.86 crore (down 16.02%), employee benefit expenses stood at Rs 93.50 crore (up 13.31% YoY), while sub-contracting charges were at Rs 343.69 crore (up 225.86% YoY) and finance costs stood at Rs 677.86 crore (down 16.02% YoY) during the period under review.

Cmde PR Hari, IN (Retd.), chairman & MD, Garden Reach Shipbuilders & Engineers, said, I am happy that we have been able to sustain the growth momentum and the Q2 results have been very encouraging. With a strong order book, result oriented project execution strategy and clear order visibility, I am confident of equally strong financial performance in the second half of FY26 also. "

On a half-year basis, GRSE posted a 48% year-on-year increase in profit after tax (PAT) to Rs 274 crore in H1FY26, compared with Rs 185 crore in the same period last year. Revenue from operations rose 38% year-on-year to Rs 2,987 crore in H1FY26 from Rs 2,163 crore in H1FY25, supported by robust consumer demand and a continued shift towards premium brands.

Garden Reach Shipbuilders & Engineers is a premier shipbuilding company in India under the administrative control of the Ministry of Defence, primarily catering to the shipbuilding requirements of the Indian Navy and the Indian Coast Guard. GRSE is a diversified, profit making and the first Shipyard in the country to export warships and deliver 100 warships to the Indian Navy and Indian Coast Guard.

Shares of Garden Reach Shipbuilders & Engineers shed 0.70% to Rs 2,556.35 on the BSE.

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