Garden Reach Shipbuilders & Engineers Ltd (GRSE) anticipates significant growth in its shipbuilding sector, driven by robust defense procurement and government support for domestic shipbuilding. In its FY25 annual report, GRSE highlighted its ability to sustain growth despite competition from both local and international shipyards, actively exploring opportunities in domestic and export markets.
The Kolkata-based defense PSU recently delivered its 110th ship, the Survey Vessel Large INS Nirdeshak, to the Indian Navy. GRSE has also been awarded the L1 bid for the Navy’s ₹25,000-crore New Generation Corvette program, which aims to produce multi-role stealth corvettes equipped for a variety of missions and advanced technologies. This project is expected to enhance GRSE’s order backlog, which reached ₹22,681 crore as of March 31, 2025.
Additionally, GRSE is expanding its ship repair operations at Syama Prasad Mookerjee Port, having initiated refits for Coast Guard and commercial vessels. A new Commercial Shipbuilding Division aims to boost non-defense orders, particularly exports. For FY25, GRSE reported a 41% increase in revenue to ₹5,075 crore and a 48% rise in profit after tax to ₹527 crore, with market capitalization exceeding ₹33,000 crore.
