State-owned shipbuilder Garden Reach Shipbuilders & Engineers Limited (GRSE) has been granted Navratna status by the Department of Public Enterprises under the Ministry of Finance, marking a significant milestone that will provide the defence shipyard with enhanced financial and operational autonomy.
The elevation follows a period of strong growth and operational performance. GRSE’s revenue from operations surged from ₹1,754 crore in FY22 to ₹7,002 crore in FY26, while profit after tax (PAT) increased from ₹190 crore to ₹748 crore during the same period, reflecting the company’s expanding scale and profitability.
The shipbuilder also recorded a landmark year in FY26 by delivering eight warships, including three naval vessels on a single day—March 30, 2026. The deliveries included the advanced guided-missile frigate INS Dunagiri, survey vessel INS Sanshodhak, and anti-submarine warfare shallow water craft INS Agray.
Navratna status grants central public sector enterprises greater freedom to make investments, enter joint ventures, and expand business operations without requiring extensive government approvals. The recognition comes at a time when GRSE is pursuing both brownfield and greenfield expansion initiatives aimed at increasing its shipbuilding capacity.
Commenting on the development, Chairman and Managing Director Cmde P R Hari (Retd.) said the recognition represents a defining moment in the company’s journey and reflects the dedication and professionalism of its workforce.
GRSE has built more than 800 marine platforms and delivered 118 warships to the Indian Navy, Coast Guard, and friendly foreign countries—the highest number delivered by any Indian shipyard. Alongside its defence portfolio, the company is expanding its commercial shipbuilding activities and is currently constructing 12 multi-purpose vessels for a German client, while exploring opportunities in green and autonomous vessel technologies.
The company said the Navratna status will strengthen its ability to pursue strategic growth opportunities, support India’s self-reliance objectives in defence manufacturing, and enhance its competitiveness in the global maritime industry as the country seeks to establish itself as a major maritime power.
