GRSE Hits New High in Turnover, Declares Interim Dividend of 129%

Garden Reach Shipbuilders & Engineers Ltd (GRSE) has recorded the highest annual turnover in its history for FY 2025-26, amounting to ₹6,400 crore (Provisional & Unaudited), as against ₹5,076 crore in FY 2024–25. The shipyard has also declared an interim dividend @ 129% of paid-up share capital against 89.5% in FY 2024–25. FY 2025–26 saw key milestones in naval shipbuilding, with the commissioning of five vessels during the year, including INS Himgiri, the first Project 17A Advanced Frigate, INS Ikshak, the third Survey Vessel (Large) and the first three Anti-Submarine Warfare Shallow Water Crafts (ASW-SWC)—INS Arnala, INS Androth and INS Anjadip. GRSE delivered a total of eight vessels to the Indian Navy during FY 2025–26, comprising two Project 17A (P17A) frigates, two Survey Vessel Large (SVL) ships and four Anti-Submarine Warfare Shallow Water Crafts (ASW-SWC). Notably, these delivery milestones include the simultaneous delivery of three warships—Dunagiri, Sanshodhak and Agray—to the Indian Navy on the same day. GRSE is also in the advanced stages of concluding a prestigious contract for the construction of five Next Generation Corvettes. The Shipyard further strengthened its portfolio beyond complex warship construction, encompassing specialised platforms such as Acoustic, Coastal and Ocean Research Ships, Hybrid Ferries and other commercial vessels. It has also achieved significant progress in the construction of 12 export vessels for a German client, as well as a Dredger for a friendly foreign country.