Garden Reach Shipbuilders & Engineers Limited (GRSE) has announced its financial results for the third quarter (Q3) and nine months (9MFY26) ended 31st December 2025, recording robust growth across key performance metrics.
Q3 FY26 Financial Highlights (YoY Growth)
- Total Income: Rs. 1,958 crore, up 46% from Rs. 1,343 crore
- Revenue from Operations: Rs. 1,896 crore, up 49% from Rs. 1,271 crore
- EBITDA: Rs. 234 crore, up 59% from Rs. 147 crore
- Profit Before Tax (PBT): Rs. 218 crore, up 63% from Rs. 134 crore
- Profit After Tax (PAT): Rs. 171 crore, up 74% from Rs. 98 crore
- Earnings per Share (EPS): Rs. 14.91, compared to Rs. 8.57
9-Month FY26 Performance (YoY Growth)
- Total Income: Rs. 5,086 crore, up 39% from Rs. 3,654 crore
- Revenue from Operations: Rs. 4,883 crore, up 42% from Rs. 3,434 crore
- EBITDA: Rs. 643 crore, up 53% from Rs. 421 crore
- Profit Before Tax (PBT): Rs. 594 crore, up 56% from Rs. 380 crore
- Profit After Tax (PAT): Rs. 445 crore, up 57% from Rs. 283 crore
Commenting on the results, Cmde P.R. Hari, IN (Retd), Chairman & Managing
“With a strong set of numbers in Q3 FY26, we are on track to register our best-ever financial performance this year. We have declared, for the first time, the 2nd Interim Dividend for FY25-26 at Rs. 7.15 per equity share. Five warships have been delivered so far, and we are executing 10 major shipbuilding projects comprising 42 platforms. Other verticals, including Ship Repairs, Portable Steel Bridges, and Naval Weapon Systems, continue to perform well. With the Next Generation Corvette contract in the pipeline, we are confident of closing the year with an order book of around Rs. 50,000 crore.”
GRSE’s performance reflects its strong execution capabilities, diversified portfolio, and strategic focus on naval and defence infrastructure, underpinning sustained growth in India’s shipbuilding sector.
