Garden Reach Shipbuilders & Engineers Limited ( garden reach shipbuilders ) will host an investor and analyst conference call on Thursday, August 6, 2026, at 3:30 PM IST. The session aims to discuss the company’s unaudited financial results for the quarter ended June 30, 2026, providing stakeholders with insights into its operational performance and strategic outlook for the fiscal year.

The announcement was made in compliance with Regulation 30 read with para A of Part A of Schedule III of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015. Sandeep Mahapatra, Company Secretary and Compliance Officer, issued the intimation to the National Stock Exchange of India Limited and BSE Limited on August 3, 2026.

Conference Call Details

Participants can join the call via various dial-in numbers or through a dedicated registration link. The management team will address queries regarding the Q1FY27 results and the broader business trajectory.

Investors are required to register using the provided Diamond Pass registration link prior to joining the session. For further assistance or RSVPs, participants may contact Sandeep Mahapatra at co.sec@grse.co.in or Chintan Kotak at chintan@conceptpr.com .

Garden Reach Shipbuilders has received the Notification of Award (NOA) from Oil and Natural Gas Corporation Limited (ONGC) for the construction of four Platform Supply Vessels (PSVs) — specialised ships used to support offshore oil and gas operations. The confirmed work order is valued at Rs 1032.07 crore and is classified as a Type A confirmed order, with a project completion timeline of 48 months from the date of the NOA. The filing was dated July 30, 2026.

Order in Financial Context

The Rs 1032.07 crore contract represents a material step-up relative to recent order inflow trends. In Q1FY27, the total disclosed order book inflow stood at Rs 80.00 crore, making the current ONGC award more than 12 times larger than the entire quarter's inflow. The 48-month execution timeline means revenue recognition will be spread across multiple quarters, providing extended visibility into future earnings. The following table summarises recent order activity:

Company Order Track Record

Recent order activity had largely comprised contracts from port authorities, with per-order values ranging around Rs 40.00 crore. The ONGC award at Rs 1032.07 crore signals a significant shift toward larger-ticket projects and diversification into the energy sector as a client segment. This consolidation of requirements under fewer, larger contracts could alter the composition and scale of the company's order backlog going forward.

Revenue Growth — Order Wins Translating to Revenue

Garden Reach Shipbuilders has demonstrated consistent translation of order inflows into top-line growth. Annual standalone revenue growth has remained robust, registering above 40% in FY22, FY23, and FY24, before moderating to 39.00% in FY25. This sustained double-digit expansion over five consecutive years reflects strong execution capabilities. The addition of the Rs 1032.07 crore ONGC order provides a new pipeline of work that could support continued revenue momentum, subject to execution proceeding on the 48-month schedule.

Key Contract Parameters

The following table captures the key parameters of this contract and related valuation metrics:

• Contract structure: Revenue recognition begins upon issuance of the NOA and progresses as milestones are achieved over the 48-month period.
• Order size variance: The Rs 1032.07 crore order is more than 12 times larger than the Rs 80.00 crore total inflow recorded in Q1FY27, indicating a significant step-up in deal size.
• Valuation context (as of July 30, 2026): P/E of 40.20x against ROCE of 32.36%. (P/E is price-derived and will change; ROCE is from audited financials.)

What to Watch

• Execution rate: Monitor quarterly revenue run-rate against the total backlog to assess whether the 48-month timeline aligns with actual delivery schedules.
• Client concentration: Observe if ONGC becomes a recurring client, reducing reliance on port authority orders such as those from Shyama Prasad Mukherjee Port, Kolkata.
• Margin quality: Track operating profit margins on PSV contracts once they begin contributing to revenue, as shipbuilding margins can vary based on steel costs and labour efficiency.
• Working capital deployment: Given the large order value, watch for any increases in trade receivables or inventory levels that may signal stretched working capital cycles during the execution phase.