Garden Reach Shipbuilders is now a 'Navratna' company
What's the story
Garden Reach Shipbuilders and Engineers (GRSE), a leading defense public sector company, has been awarded the prestigious 'Navratna' status by the Department of Public Enterprises under the Ministry of Finance. The recognition was given through an office memorandum dated June 19, 2026. The Kolkata-based shipbuilder said this elevation is a reflection of its financial performance, operational efficiency, and contribution to national security.
Strategic advantage
Major boost for defense shipbuilder
The 'Navratna' status gives public sector enterprises more financial autonomy and the ability to make larger investments and expand operations. Commodore PR Hari (Retd), Chairman and Managing Director of GRSE, called this recognition a defining moment in the company's journey. He said it will enable them to pursue strategic opportunities, boost self-reliance in defense manufacturing, and enhance global competitiveness.
Financial performance
Financial growth and operational achievements of GRSE
GRSE has witnessed a remarkable rise in its revenue from operations, which jumped to ₹7,002 crore in FY26 from ₹1,754 crore in FY22. The profit after tax also saw a significant increase during the same period, rising to ₹748 crore from ₹190 crore. The company delivered eight warships in FY26 alone, including three vessels on a single day on March 30.
Growth trajectory
Future projects and stock performance
GRSE is also expanding its capacity through brownfield and greenfield projects. The company has built over 800 marine platforms and delivered 118 warships to the Indian Navy, Coast Guard, and friendly foreign countries. It is working on 12 multi-purpose vessels for a German client and is venturing into green and autonomous vessels. Shares of Garden Reach Shipbuilders have gained nearly 15% year-to-date, closing at ₹2,799 per share on June 19 on the NSE.