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Garden Reach Shipbuilders & Engineers Limited announced that its Board of Directors approved a capital budgetary outlay of Rs 2896 crore for the construction of a Greenfield Shipyard at Raichak to enhance shipbuilding capacity in both the Naval and Commercial segments, according to a regulatory filing with the National Stock Exchange of India Limited and BSE Limited on September 21, 2026.

Garden Reach Shipbuilders & Engineers Limited informed the National Stock Exchange of India Limited and BSE Limited that the record date for the final dividend, if approved at the 110th Annual General Meeting, is September 18, 2026, with payment expected within 30 days of declaration.

Garden Reach Shipbuilders & Engineers announced the appointments of three new directors to its board, effective October 6, 2025, and June 5, 2026. Joining the board are Capt. P. Sunilkumar, Director (Corporate Planning & Personnel), Shri Niranjan Bhalerao, Director (Finance), and Dr. Vijay N. Zade, Government Nominee Director and Joint Secretary for Naval Systems within the Department of Defence Production. Capt. Sunilkumar brings extensive experience in corporate planning, project management, and naval service, while Shri Bhalerao previously held finance roles at Indian Oil Corporation Limited. Dr. Zade’s expertise lies in government administration and naval systems, and as a Government Company, director appointments and remuneration are determined by the Government of India.

Garden Reach Shipbuilders & Engineers (GRSE) signed two Memorandums of Understanding (MoUs) on September 2, 2026, during the SMM Hamburg Maritime Trade Fair in Germany. One MoU was signed with DNV (Det Norske Veritas) to establish expertise in warship design, shipbuilding, and marine engineering, while another was with Damen Technical Cooperation B.V., Netherlands, to explore the design and construction of dredgers for Indian customers, combining GRSE’s shipbuilding capabilities with Damen’s expertise in trailing suction hopper dredgers and water injection dredgers; there are no financial implications ascertained at present.

Net profit of Garden Reach Shipbuilders & Engineers rose 43.82% to Rs 172.84 crore in the quarter ended June 2026 as against Rs 120.18 crore during the previous quarter ended June 2025. Sales rose 38.53% to Rs 1814.62 crore in the quarter ended June 2026 as against Rs 1309.87 crore during the previous quarter ended June 2025. ParticularsQuarter EndedJun. 2026Jun. 2025% Var. Sales1814.621309.87 39 OPM %8.228.54 - PBDT245.03178.37 37 PBT231.53166.72 39 NP172.84120.18 44 Powered by Capital Market - Live News