GRSE Q2 Profit Rises 11.8% to Rs 171.98 Crore
Garden Reach Shipbuilders & Engineers posted standalone revenue of Rs 1,826.69 crore for the September 2026 quarter, up 8.9% from a year ago.
Key Takeaways
- GRSE's standalone net profit rose 11.8% to Rs 171.98 crore in Q2 FY27.
- Standalone revenue from operations rose 8.9% to Rs 1,826.69 crore.
- Profit before tax rose 10.6% to Rs 231.62 crore.
- Net profit was about 0.5% lower than Q1 FY27's Rs 172.84 crore.
- First-half FY27 standalone net profit was Rs 344.81 crore.
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Garden Reach Shipbuilders & Engineers (GRSE) reported a standalone net profit of Rs 171.98 crore for the July to September 2026 quarter (Q2 FY27), up 11.8% from Rs 153.79 crore in the same quarter a year earlier. The Kolkata-based warship maker's board approved the unaudited results on November 11, 2026.
Standalone revenue from operations rose 8.9% to Rs 1,826.69 crore from Rs 1,677.38 crore in Q2 FY26. Total income rose about 8% to Rs 1,885.64 crore, and profit before tax rose 10.6% to Rs 231.62 crore from Rs 209.36 crore. Earnings per share came in at Rs 15.01, against Rs 13.43 a year earlier.
GRSE Q2 FY27 at a glance
| Detail | Q2 FY27 (standalone) | Q2 FY26 (standalone) |
|---|---|---|
| Revenue from operations | Rs 1,826.69 crore | Rs 1,677.38 crore |
| Total income | Rs 1,885.64 crore | Rs 1,746.07 crore |
| Total expenses | About Rs 1,654 crore | Rs 1,536.71 crore |
| Profit before tax | Rs 231.62 crore | Rs 209.36 crore |
| Net profit | Rs 171.98 crore | Rs 153.79 crore |
| Earnings per share | Rs 15.01 | Rs 13.43 |
GRSE profit dipped slightly from the June quarter
Compared with the April to June 2026 quarter (Q1 FY27), GRSE's standalone net profit was almost flat, slipping about 0.5% from Rs 172.84 crore. Revenue from operations rose about 0.7% from Rs 1,814.62 crore in Q1 FY27.
For the first half of FY27 (April to September 2026), standalone net profit rose about 25.9% to Rs 344.81 crore from Rs 273.96 crore, and revenue from operations rose about 21.9% to Rs 3,641.31 crore from Rs 2,987.25 crore.
How GRSE builds warships for the Indian Navy
GRSE is a public sector shipbuilder under the Ministry of Defence, based in Kolkata. It builds warships for the Indian Navy and the Indian Coast Guard, and was given Navratna status by the government in June 2026.
| When | What happened |
|---|---|
| June 2026 | GRSE was granted Navratna status |
| July 2026 | Q1 FY27 results: net profit of Rs 172.84 crore on revenue of Rs 1,814.62 crore for April to June 2026 |
| November 2, 2026 | GRSE signed a contract worth about Rs 32,000 crore with the Indian Navy to build five Next Generation Corvettes |
| November 11, 2026 | Board approved Q2 FY27 results: standalone net profit of Rs 171.98 crore |
Where GRSE stands after the second quarter
GRSE's standalone net profit of Rs 171.98 crore for Q2 FY27 was 11.8% higher than a year ago, on revenue of Rs 1,826.69 crore. Across the first half of FY27, the company earned a standalone net profit of Rs 344.81 crore. The quarter's results came nine days after GRSE signed its contract with the Indian Navy for five Next Generation Corvettes.
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