Garden reach shipbuilders & Engineers Limited has announced robust financial results for the third quarter of FY26, demonstrating strong operational performance across key metrics. The defense shipbuilding company, operating under the Ministry of Defence, reported significant growth in both revenue and profitability for the quarter ended December 31, 2025.

Strong Quarterly Performance

The company's financial performance for Q3 FY26 showed remarkable improvement across all major parameters. Revenue from operations increased substantially, while profit margins expanded, reflecting efficient cost management and strong order execution.

Nine-Month Financial Highlights

For the nine-month period ended December 31, 2025, the company maintained its strong performance trajectory with consistent growth across all financial parameters.

Dividend Declaration and Key Ratios

The Board of Directors declared a second interim dividend of ₹7.15 per equity share of face value ₹10 each for FY 2025-26, amounting to ₹81.90 crore. The record date for dividend entitlement has been fixed as February 3, 2026.

Key financial ratios for the nine-month period demonstrate the company's strong financial health:

Operational Efficiency and Cost Management

The company demonstrated improved operational efficiency with enhanced cost management across various expense categories. Total expenses for Q3 FY26 were ₹1,73,992.27 lakh compared to ₹1,20,908.86 lakh in Q3 FY25, primarily driven by increased material consumption and sub-contracting charges aligned with higher revenue recognition.

Employee benefits expense for the quarter stood at ₹10,139.70 lakh versus ₹9,077.46 lakh in the previous year, while finance costs remained controlled at ₹379.12 lakh. The company maintained disciplined expense management despite scaling up operations to meet growing order book requirements.

Corporate Governance and Compliance

The unaudited financial results were approved by the Board of Directors at their meeting held on January 28, 2026, which commenced at 1430 hours and concluded at 1630 hours. The results have been prepared in accordance with Indian Accounting Standard (Ind AS) 34 'Interim Financial Reporting' and reviewed by statutory auditors Guha Nandi & Co., Chartered Accountants.

The company continues to operate without any subsidiary, associate, or joint venture companies as of December 31, 2025, maintaining its focused business structure in defense shipbuilding operations.

Garden reach shipbuilders & Engineers Ltd has announced significant senior management promotions across key operational areas, with all appointments taking effect from January 1, 2026. The defense shipbuilding company disclosed these changes under Regulation 30 of SEBI Listing Regulations, highlighting the elevation of seven experienced professionals to executive leadership positions.

Executive Director Appointments

Two senior officers have been promoted to Executive Director positions, bringing decades of specialized experience to the top management tier.

Venkatesh Murthy has been instrumental in steering GRSE's commercial shipbuilding operations, leveraging his expertise in procurement, inventory management, and contract administration. His promotion recognizes his significant contributions to timely project execution and defense procurement processes.

Commander Manchanda currently heads GRSE's Production Planning and Control Department, where he has played a pivotal role in successful delivery of multiple strategic naval and international projects through exceptional leadership and stakeholder coordination.

Chief General Manager Promotion

Commander Gupta's promotion reflects his vast experience across multiple stages of shipbuilding, from core production activities to design department functions and contract management.

General Manager Appointments

Four officers have been elevated to General Manager positions across diverse operational areas:

Operational Impact and Leadership Credentials

The promoted executives bring substantial operational expertise across GRSE's key business areas. Lt Col Sanjay Anand has been responsible for company security and firefighting operations, additionally overseeing official language implementation that has earned the company several national awards.

Commander Harish Kumar has managed critical liaison functions with Ministry of Defence, Indian Navy, Indian Army, Indian Coast Guard, and various government organizations from GRSE's Delhi regional office.

Manas Kumar Pandey brings nearly three decades of manufacturing expertise in plate preparation, robotic welding, hull operations, and coating applications. His technical specialization spans CNC plasma operations, equipment installation, and ship hull preparation processes.

Dilip Kumar Jagattar Singh, with over 33 years at GRSE, has comprehensive experience in diesel engine operations and has served as in-charge of the Diesel Engine Plant at Ranchi Unit since March 2014.

Strategic Significance

These promotions reflect GRSE's commitment to recognizing internal talent and promoting experienced professionals who have demonstrated leadership capabilities across critical operational areas. The appointments span commercial shipbuilding, production planning, contract management, security operations, regional coordination, manufacturing, and diesel engine operations, ensuring experienced leadership across all major business functions.