Garden Reach (GRSE) Q3 FY26 Earnings Results: PAT Surges 74%, Share Price Jumps Over 5%

Garden Reach Shipbuilders & Engineers Limited (GRSE), a Defence Public Sector Undertaking under the Ministry of Defence, reported robust financial results for Q3 FY26. The company’s profit after tax (PAT) surged 74% year-on-year (YoY) to ₹171 crore, while earnings before interest, tax, depreciation and amortisation (EBITDA) increased 59% to ₹234 crore.

GRSE Q3 FY26 Earnings Results: Revenue and Profit Growth

Total income for the quarter ended December 31, 2025, stood at ₹1,958 crore, up 46% from ₹1,343 crore in Q3 FY25. Revenue from operations rose to ₹1,896 crore, registering a 49% growth YoY. Profit before tax (PBT) increased 63% to ₹218 crore. Earnings per share (EPS) for the quarter were ₹14.91, compared with ₹8.57 in the same period last year.

GRSE Share Price Performance

Following the announcement, GRSE share price surged over 5%, hitting a high of ₹2,647.90 on the NSE. The strong performance reflects investor confidence in the company’s growing order book and operational efficiency.

Order Book and Projects Update

GRSE has delivered five warships so far in the current financial year and is executing ten major shipbuilding projects comprising 42 platforms. The company is also active in ship repairs, portable steel bridges, and naval weapon systems. With the next-generation corvette contract expected soon, the company aims to end FY26 with an order book of around ₹50,000 crore.

Interim Dividend Declared

The company declared a second interim dividend for FY25-26 at ₹7.15 per equity share of ₹10 each, totalling ₹81.90 crore. The record date for determining shareholders eligible for the dividend is Tuesday, February 3, 2026. This marks the first time GRSE has announced a second interim dividend in a financial year, reflecting its strong cash flow and profitability.

Read more: US Federal Reserve Holds Interest Rates Amid Mixed Economic Signals.

Conclusion

GRSE’s Q3 FY26 results highlight its strong operational performance and strategic execution across multiple business segments. With impressive growth in revenue, profits, and a robust order book, the defence PSU is on track for one of its best financial years. The interim dividend adds to shareholder value, reinforcing investor confidence in the company’s long-term growth prospects.

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