GRSE Reports 26% PAT Growth in H1 FY27; Q2 Revenue Rises 9% to ₹1,827 Crore – Indian PSU

Garden Reach Shipbuilders & Engineers Limited (GRSE), a Navratna Defence PSU under the Ministry of Defence, has reported strong financial performance for the second quarter and first half of FY 2026-27, registering a 12% year-on-year increase in quarterly profit after tax (PAT) and a 26% growth in H1 PAT.

GRSE recorded revenue of ₹1,827 crore in Q2 FY27, compared with ₹1,677 crore in the corresponding quarter of the previous financial year, marking a growth of 9%.

Total income during the quarter stood at ₹1,886 crore against ₹1,746 crore in Q2 FY26, an increase of 8%.

The company’s EBITDA increased 13% to ₹254 crore from ₹225 crore, while profit before tax (PBT) rose 11% to ₹232 crore from ₹209 crore. PAT stood at ₹172 crore, registering a growth of 12% over ₹154 crore in Q2 FY26.

Strong H1 FY27 Performance

GRSE delivered an even stronger performance during the first half of FY27. Revenue increased 22% to ₹3,641 crore compared with ₹2,987 crore in H1 FY26.

Total income rose 21% to ₹3,800 crore, while EBITDA increased 23% to ₹503 crore.

PBT grew 23% to ₹463 crore against ₹376 crore in the corresponding period last year. PAT registered a robust 26% growth to ₹345 crore from ₹274 crore.

Earnings per share (EPS) also increased 26% to ₹30.10 during H1 FY27 compared with ₹23.92 in H1 FY26.

GRSE Achieves Key Shipbuilding Milestones

Commenting on the financial results, Cmde PR Hari, IN (Retd), Chairman and Managing Director, GRSE, said that the Q2 and H1 FY27 results had been encouraging, with the company continuing to deliver strong financial performance.

The CMD highlighted several significant milestones achieved during the quarter, including the launch of the second Next Generation Offshore Patrol Vessel (NGOPV), ‘Shruti’, for the Indian Navy and the Ocean Research Vessel ‘Sagar Manthan’ for the National Centre for Polar and Ocean Research (NCPOR), Ministry of Earth Sciences.

The company also performed the Bhumi Pujan ceremony for three major brownfield infrastructure projects in West Bengal.

These developments reflect GRSE’s continued focus on strengthening indigenous shipbuilding capabilities, expanding manufacturing infrastructure and contributing to India’s maritime security and defence preparedness in line with the vision of Aatmanirbhar Bharat.

With sustained growth in revenue, profitability and earnings, GRSE has maintained its strong financial momentum in the first half of FY27.

Financial Performance at a Glance