GRSE posted its highest-ever annual revenue of ₹6,400 crore for FY26, marking a 26% YoY growth compared to ₹5,076 crore in the previous year. However, the growth came in below the company’s earlier guidance of around 40%.
The company did not provide an update on its order book, where it had earlier guided for ₹50,000 crore by FY26, contingent on securing the Next Generation Corvette contract.
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Operationally, FY26 was a milestone year for GRSE. The company delivered eight vessels to the Indian Navy, including two Project 17A frigates, two Survey Vessel Large ships, and four Anti-Submarine Warfare Shallow Water Crafts.
It also commissioned five vessels during the year, including INS Himgiri, INS Ikshak, and the first three ASW-SWC vessels – INS Arnala, INS Androth, and INS Anjadip. Notably, GRSE achieved the rare feat of delivering three warships – Dunagiri, Sanshodhak, and Agray – on the same day.
The company said it is in advanced stages of finalising a key contract for five Next Generation Corvettes, which could further strengthen its order pipeline.
Beyond shipbuilding, GRSE continues to remain the only defence PSU shipyard manufacturing prefabricated steel bridges.
During the year, it also launched a first-of-its-kind indigenous modular foot suspension bridge capable of spanning up to 400 feet without piers.
Additionally, the company delivered seven 30mm Naval Surface Gun systems and executed multiple refit projects.
GRSE also declared an interim dividend of 129% of paid-up capital, higher than 89.5% in the previous year.
