Key Event Details

GRSE has been approved for 'Navratna' Status by the Department of Public Enterprises, Ministry of Finance, Government of India vide Office Memorandum PD-26/0003/2025-PD-(14508) dated June 19, 2026. This status allows Public Sector Enterprises to make larger investments and enhance their operational capabilities.

Financial Performance Highlights

GRSE's financial performance over the last five years shows remarkable growth:

  • Revenue from Operations grew from ₹1,754 crore in FY 2021-22 to ₹7,002 crore in FY 2025-26, representing a 300% increase
  • Profit After Tax (PAT) increased from ₹190 crore to ₹748 crore during the same period, reflecting 294% growth

Operational Achievements

During FY26, GRSE delivered eight warships including three on the same day (March 30, 2026):

  • P17A advanced guided-missile frigate Dunagiri
  • Sanshodhak, a Survey Vessel (Large)
  • Anti-Submarine Warfare Shallow Water Craft Agray

The company is currently in expansion mode with both brownfield and greenfield projects to increase capacity.

Historical Context and Company Background

GRSE has several notable achievements:

  • Delivered country's first indigenous warship, INS Ajay, to the Navy in 1961
  • Builder of first Indian Export Warship, CGS Barracuda for Government of Mauritius
  • First DPSU shipyard to be listed on stock exchanges
  • Has delivered over 800 marine platforms, including 118 warships for Indian Navy, Indian Coast Guard and friendly foreign nations
  • 80 warships have been inducted into the Navy
  • Currently building 12 multi-purpose vessels for a German client
  • Only shipyard with specialization in research ships

Management Commentary

Cmde PR Hari, IN (Retd), Chairman and Managing Director, stated that the Navratna status "is a defining moment in GRSE's journey" that will "empower us to pursue strategic opportunities, enhance self-reliance in defence manufacturing, strengthen our global competitiveness and contribute meaningfully towards the vision of Aatmanirbhar Bharat."

Additional Information

The press release highlights GRSE's alignment with Government's Atmanirbharta and "Make in India" visions. The company has received several awards including Defence Minister's Award 2025 for Excellence in Financial Performance and has been recognized as Best Performing Defence Shipyard of India for four consecutive years.