Garden Reach Shipbuilders & Engineers Limited — Investor Meet, 19-05-2026: Analysts/Institutional Investor Meet/Con. Call Updates

GRSE reported its best-ever Q4 & FY26 financials. Q4 revenue surged 29% to ₹2,119 crore, PAT up 24% to ₹303 crore. For FY26, revenue rose 38% to ₹7,002 crore, with PAT up 42% to ₹748 crore. Physical performance was robust, delivering eight warships. The current order book stands at ₹15,324 crore, reflecting improved execution.

Management highlighted strong government focus on shipbuilding. Key orders on the anvil include the ₹33,000 crore Next Generation Corvette (NGC), where GRSE is L1 and expects contract signing soon. The company is also pursuing commercial export orders with higher margins and is expanding capacity. GRSE is actively developing autonomous vessels, with products already supplied to DRDO. Management anticipates maintaining similar margins in FY27. Significant future orders like P-17 Bravo and Mine Countermeasure Vessels are expected to further boost the order book.