GRSE jumps after securing Navratna status

Garden Reach Shipbuilders & Engineers (GRSE) rose 3.51% to Rs 2,896.50 after the company announced that it had been granted Navratna status by the Department of Public Enterprises (DPE) under the Ministry of Finance.

In an exchange filing dated 20 June 2026, the defence shipbuilder said the Government of India approved the Navratna status through an Office Memorandum issued on 19 June 2026. The company said the recognition reflects its strong financial performance, operational efficiency and contribution to national security.

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 companys 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.

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