Key Highlights
- GRSE reported Q2 FY27 revenue of ₹1,827 crore, registering 9% YoY growth.
- Total income increased 8% YoY to ₹1,886 crore in Q2 FY27.
- EBITDA rose 13% YoY to ₹254 crore.
- Profit after tax increased 12% YoY to ₹172 crore.
- H1 FY27 revenue grew 22% YoY to ₹3,641 crore.
- H1 FY27 net profit increased 26% YoY to ₹345 crore.
- H1 FY27 EBITDA increased 23% YoY to ₹503 crore.
- EPS for H1 FY27 improved 26% to ₹30.10.
- GRSE launched the second Next Generation Offshore Patrol Vessel named Shruti for the Indian Navy.
- The company launched the Ocean Research Vessel Sagar Manthan for NCPOR.
- GRSE conducted the Bhumi Pujan for three new brownfield infrastructure projects in West Bengal.
Garden Reach Shipbuilders and Engineers Limited (GRSE) reported strong financial performance for the second quarter and first half of FY27, supported by growth in revenue, EBITDA and net profit. The Kolkata-based defence shipbuilder, operating under the Ministry of Defence, reported revenue of ₹1,827 crore in Q2 FY27, registering a 9% increase compared with ₹1,677 crore in the corresponding quarter of the previous financial year.
The company’s total income increased 8% year-on-year to ₹1,886 crore in Q2 FY27, compared with ₹1,746 crore in Q2 FY26. EBITDA rose 13% to ₹254 crore from ₹225 crore, while profit before tax (PBT) increased 11% to ₹232 crore against ₹209 crore in the year-ago quarter. Net profit after tax (PAT) grew 12% to ₹172 crore from ₹154 crore in Q2 FY26. Earnings per share (EPS) increased to ₹15.01 from ₹13.43.
For the first half of FY27, GRSE recorded revenue of ₹3,641 crore, marking a 22% increase from ₹2,987 crore in H1 FY26. Total income rose 21% year-on-year to ₹3,800 crore from ₹3,128 crore.
EBITDA increased 23% to ₹503 crore compared with ₹409 crore in the corresponding period last year. Profit before tax grew 23% to ₹463 crore from ₹376 crore, while net profit increased 26% to ₹345 crore against ₹274 crore in H1 FY26. EPS improved 26% to ₹30.10 from ₹23.92.
Commenting on the financial performance, Cmde PR Hari, IN (Retd), Chairman and Managing Director of GRSE, said the company achieved encouraging results during Q2 and H1 FY27. He also highlighted key operational developments during the quarter, including the launch of the second Next Generation Offshore Patrol Vessel (NGOPV), named ‘Shruti’, for the Indian Navy and the Ocean Research Vessel ‘Sagar Manthan’ for the National Centre for Polar and Ocean Research (NCPOR), under the Ministry of Earth Sciences.
The company also conducted the Bhumi Pujan ceremony for three new major brownfield infrastructure projects in West Bengal. According to the management, these initiatives are aimed at strengthening indigenous shipbuilding capabilities, expanding infrastructure and supporting India’s maritime security and defence preparedness under the Aatmanirbhar Bharat initiative.
GRSE is a Navratna public sector undertaking under the Ministry of Defence, engaged in shipbuilding, ship repair and engineering activities. Its operations also include the manufacture of prefabricated steel bridges, deck machinery, marine diesel engine-related equipment and naval surface guns.
The Q2 and H1 FY27 results reflect growth across the company’s key financial parameters, with first-half revenue increasing 22% and net profit rising 26% year-on-year.
