Date: 11 Nov 2026

Financial Performance Summary

GRSE reported its financial results for the second quarter ended September 30, 2026 (Q2 FY27), showing consistent growth across key metrics.

Quarterly Performance (Q2 FY27 vs Q2 FY26):

  • Total Income: Rs 1,886 Cr (vs Rs 1,746 Cr in Q2 FY26), up 8% YoY
  • Revenue: Rs 1,827 Cr (vs Rs 1,677 Cr in Q2 FY26), up 9% YoY
  • EBITDA: Rs 254 Cr (vs Rs 225 Cr in Q2 FY26), up 13% YoY
  • PBT: Rs 232 Cr (vs Rs 209 Cr in Q2 FY26), up 11% YoY
  • PAT: Rs 172 Cr (vs Rs 154 Cr in Q2 FY26), up 12% YoY
  • EPS: Rs 15.01 (vs Rs 13.43 in Q2 FY26), up 12% YoY

Half-Yearly Performance (H1 FY27 vs H1 FY26):

  • Total Income: Rs 3,800 Cr (vs Rs 3,128 Cr in H1 FY26), up 21% YoY
  • Revenue: Rs 3,641 Cr (vs Rs 2,987 Cr in H1 FY26), up 22% YoY
  • EBITDA: Rs 503 Cr (vs Rs 409 Cr in H1 FY26), up 23% YoY
  • PBT: Rs 463 Cr (vs Rs 376 Cr in H1 FY26), up 23% YoY
  • PAT: Rs 345 Cr (vs Rs 274 Cr in H1 FY26), up 26% YoY
  • EPS: Rs 30.10 (vs Rs 23.92 in H1 FY26), up 26% YoY

Operational Highlights and Strategic Developments

During Q2 FY27, GRSE achieved several significant operational milestones:

  • Launched the second Next Generation Offshore Patrol Vessel 'Shruti' for the Indian Navy
  • Launched an Ocean Research Vessel 'Sagar Manthan' for NCPOR, Ministry of Earth Sciences
  • Conducted Bhumi Pujan (groundbreaking ceremony) for three new major brownfield infrastructure projects in West Bengal

Management Commentary

Cmde PR Hari, IN (Retd), Chairman and Managing Director, stated that the results were encouraging and reflected GRSE's strong financial performance. He highlighted that these developments underscore GRSE's continued commitment to:

  • Strengthening indigenous shipbuilding capabilities
  • Expanding infrastructure
  • Contributing to India's maritime security and defence preparedness
  • Supporting the vision of Aatmanirbhar Bharat (self-reliant India)

Company Background

GRSE is a Navratna Public Sector Undertaking under the Ministry of Defence, Government of India, with:

  • 07 Operational Units at Kolkata, West Bengal
  • 01 Operational Unit at Ranchi, Jharkhand
  • Four distinct shipyards as a unique infrastructure advantage
  • Capability to undertake concurrent construction of 28 ships at a time
  • Built over 800 platforms, including 119 warships for Indian Navy, Indian Coast Guard, and friendly foreign countries
  • Product portfolio includes shipbuilding, ship repair, pre-fabricated steel bridges, deck machinery items, and marine diesel engines

Recent Accolades

  • Defence Minister's Award 2025 for Excellence in Financial Performance
  • Defence Minister's Award 2022 for Designing the most silent ship for Indian Navy for ASW operation
  • Defence Minister's Award of Excellence for In-house Design Effort for Offshore Patrol Vessel for Government of Mauritius
  • Best Performing Defence Shipyard of India for Four Years in a row