Garden Reach Shipbuilders & Engineers Limited (GRSE) reported a remarkable 57% increase in profit during its Q2 FY26 earnings call, with net profit rising to ₹154 crores compared to ₹98 crores in the same quarter last year. The company's revenue from operations saw a commendable 45% growth, reaching ₹1,677 crores from ₹1,153 crores year-on-year. This uptick in financial performance is attributed to strong operational execution and a robust order book, which stood at ₹20,205.56 crores as of September 30, 2025, encompassing 10 shipbuilding projects and multiple platforms.

GRSE's order book features significant projects, including 13 warships for the Indian Navy and two export projects involving 12 multi-purpose vessels for German clients. The company is also involved in various specialized research vessels and hybrid ferries for the Government of West Bengal. Notably, the delivery timelines for several key projects, such as the P-17 Alpha frigates and anti-submarine shallow water crafts, remain on track, with prompt deliveries anticipated in 2026. GRSE's commitment to meeting its project deadlines is evident, as the first ship of the P-17 Alpha project has already been delivered ahead of schedule.

Looking ahead, GRSE is optimistic about its future, with a strong pipeline of projects and plans for capacity expansion. The company aims to increase its shipbuilding capacity from 28 to 32 ships by 2026, with further plans for a brownfield and greenfield expansion to boost capacity to 40 ships within four years. The Defence Acquisition Council has also accorded Approval of Necessity (AoN) for several future projects, valuing approximately ₹1,52,000 crores, indicating a promising outlook for GRSE as it seeks to capitalize on both domestic and export opportunities in the defense sector.