Garden Reach Shipbuilders & Engineers Ltd has appointed Cmde A Vinith, IN (Retd.) as Executive Director (Technical) effective May 26, 2026. The appointment was made in accordance with Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Cmde A Vinith, IN (Retd.), also known as Cmde Vinith Aerat, joined Garden Reach Shipbuilders on December 1, 2021, as General Manager (Technical). He holds a Bachelor of Technology in Naval Architecture and Ship Building from Cochin University of Science and Technology. He also holds a Diploma in Naval Construction from the Indian Institute of Technology, Delhi, and a Master of Technology in Interdisciplinary Programme of Corrosion Science & Engineering from the Indian Institute of Technology, Bombay.

Prior to joining the company, Cmde Vinith Aerat had a career spanning over 27 years in the Indian Navy. At GRSE, he initially led the design activities of multiple shipbuilding projects for nearly 3.5 years. He was promoted to Chief General Manager grade in 2025 and is currently heading Business & Technology Development, Corporate Communication, and New Product Development functions.

Profile of Cmde A Vinith, IN (Retd.)

The disclosure was submitted to the National Stock Exchange of India Limited and BSE Limited by Sandeep Mahapatra, Company Secretary and Compliance Officer.

Garden Reach Shipbuilders & Engineers Limited has released the transcript of its investor and analyst conference call held on May 12, 2026, to discuss the audited financial results for the quarter and year ended March 31, 2026. The company reported its best-ever financial performance for the full year, driven by robust physical performance across its shipbuilding and engineering verticals.

Financial Performance

For the full year FY26, the company recorded a revenue from operations of INR 7,002 crore, registering a growth of 38% over the previous financial year. Profit after tax (PAT) increased by 42% to INR 748 crore, up from INR 527 crore in the previous year. In the fourth quarter (Q4), revenue stood at INR 2,119 crore, a growth of 29% year-on-year, while PAT rose by 24% to INR 303 crore from INR 244 crore. The management noted that margins have shown a substantial increase during the period.

Operational Highlights

The shipbuilding vertical achieved a milestone by delivering eight warships to the Indian Navy during the year, including three vessels delivered on the same day. Additionally, the company launched one warship and laid the keel for 19 platforms, comprising 13 hybrid ferries for the Government of West Bengal and six other platforms. In the engineering segment, seven naval surface guns were delivered, with four completing Sea Acceptance Trials, alongside the delivery of 110 portable steel bridges, including 30 for exports.

Order Book and Outlook

The current order book stands at INR 15,324.13 crore, comprising nine projects involving 39 platforms. Approximately 95% of the order book, valued at around INR 14,730 crore, is attributed to shipbuilding. The management highlighted that the drop in the order book below INR 20,000 crore indicates an improved execution rate. The company is currently the L1 bidder for the Next Generation Corvette (NGC) project, with an order value of approximately INR 33,000 crore, where price negotiations have been completed and contract signing is awaited.

Future Expansion

Garden Reach Shipbuilders is expanding its capacity from 28 platforms to 32 ships by the end of the calendar year through modernization projects. The company is also establishing two Brownfield shipbuilding facilities in West Bengal and two Greenfield facilities, one each in West Bengal and Gujarat. The expansion strategy aligns with the government's revitalization package for shipbuilding and the aggregated demand for commercial vessels.