Key Highlights
- GRSE has been granted Navratna status by the Department of Public Enterprises on June 19, 2026.
- Revenue from operations increased from ₹1,754 crore in FY2021-22 to ₹7,002 crore in FY2025-26.
- Profit after tax rose from ₹190 crore to ₹748 crore over the five-year period.
- The company delivered eight warships during FY2025-26, including three on a single day.
- GRSE has delivered over 800 marine platforms and 118 warships to date.
- The shipyard is currently building 12 multi-purpose vessels for a German client.
Garden Reach Shipbuilders & Engineers Ltd. (GRSE), a leading defence public sector shipyard under the Ministry of Defence, has been granted Navratna status by the Department of Public Enterprises (DPE), Ministry of Finance, Government of India. The recognition was accorded on June 19, 2026, marking a significant milestone in the company’s growth journey.
The Navratna designation is awarded to high-performing Central Public Sector Enterprises (CPSEs) and provides greater financial and operational autonomy, enabling them to undertake larger investments and expand business operations more effectively.
GRSE stated that the elevation to Navratna status reflects its sustained financial and operational performance over recent years. The company reported a substantial rise in revenue from operations, which increased from ₹1,754 crore in FY2021-22 to ₹7,002 crore in FY2025-26, representing growth of nearly 300%. During the same period, profit after tax (PAT) climbed from ₹190 crore to ₹748 crore, registering growth of approximately 294%.
The shipyard has also demonstrated strong execution capabilities in defence shipbuilding. During FY2025-26, GRSE delivered eight warships, including three vessels on a single day, March 30, 2026. These included the advanced guided-missile frigates Dunagiri and Sanshodhak, a Survey Vessel (Large), and an Anti-Submarine Warfare Shallow Water Craft named Agray.
According to the company, the Navratna status comes at a time when GRSE is pursuing capacity expansion through both brownfield and greenfield projects. The enhanced autonomy associated with the new status is expected to support larger investments and strengthen its growth plans.
Commenting on the development, Chairman and Managing Director Cmde P R Hari (IN Retd.) said the recognition reflects the confidence placed in the organisation and acknowledges the contribution of its employees. He added that the status would support GRSE’s efforts to pursue strategic opportunities, enhance self-reliance in defence manufacturing, and improve global competitiveness.
GRSE has played a significant role in India’s shipbuilding sector and has achieved several milestones over the decades. The company delivered India’s first indigenous warship, INS Ajay, in 1961 and was also the builder of India’s first export warship, CGS Barracuda, supplied to Mauritius. It became the first Defence Public Sector Undertaking (DPSU) shipyard to be listed on Indian stock exchanges.
The company has delivered more than 800 marine platforms and built 118 warships for the Indian Navy, Coast Guard, and friendly foreign nations. Of these, 80 vessels have been inducted into the Indian Navy, making GRSE one of the country’s most prominent naval shipbuilders.
Beyond defence projects, GRSE has expanded its presence in commercial shipbuilding and exports. The shipyard is currently constructing 12 multi-purpose vessels for a German client and has also entered the segments of green and autonomous vessels. The company is additionally known for its specialization in research vessels, supporting India’s maritime and scientific capabilities.
With the Navratna recognition, GRSE joins an elite group of public sector enterprises and is expected to gain greater flexibility to pursue strategic investments and strengthen its position in India’s defence and maritime sectors.
