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GRSE Signs MoU with K2 Cranes for Indigenous Marine and Defence Crane Manufacturing
Garden Reach Shipbuilders & Engineers (GRSE) has signed a Memorandum of Understanding with K2 Cranes & Components to design and manufacture specialized marine, defense, and shipyard cranes. This strategic move aims to diversify GRSE's engineering portfolio beyond its core shipbuilding and modular bridge segments, where it has already delivered over 5,900 bridges. The partnership focuses on indigenous production to support 'Make in India' goals and reduce reliance on imported heavy equipment. This collaboration is expected to serve both domestic requirements and international clients, potentially opening new revenue streams.
Key Highlights
MoU signed on January 28, 2026, for the development of marine and shipyard cranes.
Partnership with K2 Cranes & Components targets both Indian and international defense markets.
GRSE leverages its experience of delivering 115 warships and 5,900+ modular bridges for this expansion.
Strategic focus on 'Atmanirbharta' to reduce import dependency for critical shipyard infrastructure.
The initiative enables concurrent construction and equipment manufacturing for 28 ships at a time.
💼 Action for Investors
Investors should view this as a positive diversification of GRSE's engineering business which reduces cyclical shipbuilding risks. Monitor for specific order book additions arising from this new crane manufacturing vertical.
GRSE Q3 PAT Surges 74% YoY to ₹171 Cr; Declares 2nd Interim Dividend
Garden Reach Shipbuilders (GRSE) reported a robust 74% YoY growth in Profit After Tax (PAT) to ₹171 crore for Q3 FY26, driven by a 49% increase in operational revenue. The company's EBITDA margins improved significantly, with EBITDA rising 59% to ₹234 crore. Management has declared a second interim dividend of 7.15% and expects the order book to reach approximately ₹50,000 crore by the end of the fiscal year. Currently, the shipyard is executing 10 major projects involving 42 platforms, showcasing strong execution capabilities.
Key Highlights
Revenue from operations grew 49% YoY to ₹1,896 crore in Q3 FY26
Net Profit (PAT) increased by 74% to ₹171 crore compared to ₹98 crore in the previous year
EBITDA rose 59% YoY to ₹234 crore, reflecting strong operational efficiency
Order book guidance remains strong, targeted to reach ₹50,000 crore by FY26 end
Declared a second interim dividend for FY26 at 7.15% per equity share
💼 Action for Investors
Investors should view the strong execution and massive order book guidance as a positive sign for long-term growth. The stock remains a key play in India's defense indigenization theme with improving margins.
GRSE Q3 PAT Jumps 74% YoY to ₹171 Cr; Declares ₹7.15 Interim Dividend
Garden Reach Shipbuilders & Engineers (GRSE) reported a stellar performance for Q3 FY26, with revenue from operations growing 49% YoY to ₹1,895.69 crore. Net profit for the quarter surged by 74% YoY to ₹170.77 crore, reflecting strong execution in its shipbuilding projects. The company has rewarded shareholders with a second interim dividend of ₹7.15 per share, with the record date set for February 3, 2026. For the nine-month period, the company demonstrated improved efficiency with net profit margins rising to 9.11% from 8.25% YoY.
Key Highlights
Revenue from operations grew 49% YoY to ₹1,895.69 crore in Q3 FY26
Net profit for the quarter increased 74% YoY to ₹170.77 crore from ₹98.19 crore
Declared 2nd interim dividend of ₹7.15 per share (71.5% of face value)
9-month EPS significantly improved to ₹38.82 from ₹24.72 in the previous year
Net profit margin for the nine-month period expanded to 9.11% from 8.25% YoY
💼 Action for Investors
The strong growth in both top-line and bottom-line, coupled with margin expansion, makes GRSE a compelling hold in the defense PSU space. Investors should note the record date of February 3, 2026, to be eligible for the ₹7.15 dividend.
GRSE Q3 PAT Jumps 74% YoY to ₹171 Cr; Declares ₹7.15 Interim Dividend
Garden Reach Shipbuilders (GRSE) reported a robust performance for Q3 FY26, with revenue from operations growing 49% YoY to ₹1,895.69 crore. Net profit surged by 74% YoY to reach ₹170.77 crore, driven by strong execution in defense projects. The company's Board declared a second interim dividend of ₹7.15 per share, with a record date of February 3, 2026. For the nine-month period, the net profit margin improved to 9.11% compared to 8.25% in the previous year, reflecting better operational efficiency.
Key Highlights
Revenue from operations increased 49.1% YoY to ₹1,895.69 crore in Q3 FY26
Net Profit (PAT) grew significantly by 73.9% YoY to ₹170.77 crore
Declared a 2nd interim dividend of ₹7.15 per equity share with a record date of Feb 3, 2026
9M FY26 EPS stands at ₹38.82 compared to ₹24.72 in 9M FY25
Net profit margin for the nine-month period improved to 9.11% from 8.25% YoY
💼 Action for Investors
Investors should view this as a strong performance confirming GRSE's execution capabilities in the defense sector. The stock remains a solid hold for long-term defense play, with the dividend providing immediate yield for shareholders.