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HomeMarket NewsStocks NewsGRSE and Hindustan Shipyard sign MoU to form consortium for national shipbuilding programme
Shares of Garden Reach Shipbuilders & Enginers Ltd ended at ₹2,514.35, up by ₹112.80, or 4.70%, on the BSE.
Kolkata-based warship maker Garden Reach Shipbuilders & Enginers Ltd (GRSE) on Monday (February 9) said it has signed a Memorandum of Understanding (MoU) with Hindustan Shipyard Ltd (HSL) to form a consortium for a large-scale national shipbuilding programme.
The partnership will focus on the construction of advanced maritime platforms and is expected to contribute to the enhancement of the country’s maritime infrastructure, technological self-reliance, and long-term operational capabilities.
The MoU was signed by Cdr Shantanu Bose, IN (Retd.), Director (Shipbuilding), GRSE, and Capt Ganti Venkateswarlu, IN (Retd.), Officiating Chairman & Managing Director, HSL, in the presence of senior officials from both shipyards.
Also Read: GRSE posts 74% jump in Q3 profit to ₹171 crore, driven by strong shipbuilding orders
The collaboration aims to leverage the complementary strengths of GRSE and HSL to support indigenous maritime capability and self-reliance in shipbuilding.
Third Quarter Results
Garden Reach Shipbuilders & Enginers Ltd reported a 73.9% year-on-year jump in net profit to ₹170.7 crore for the quarter ended December 2025, compared to ₹98.2 crore in Q3 FY25, driven by strong execution of its order book.
Revenue from operations surged 49% to ₹1,895 crore versus ₹1,271 crore a year ago. EBITDA more than doubled to ₹172.1 crore from ₹75.3 crore, while margins expanded to 9% from 5.9% YoY.
For the nine-month period (April–December 2025), GRSE posted a net profit of ₹444.74 crore on revenue of ₹4,882.95 crore. Earnings per share stood at ₹38.82 for 9M FY26, up from ₹24.72 in the same period last year. The debt-to-equity ratio remained healthy at 0.014, and the company’s order book continues to be robust with multiple naval projects underway.
Also Read: Garden Reach Shipbuilders shares fall; Co says growth for next two years to be similar to FY25
Shares of Garden Reach Shipbuilders & Enginers Ltd ended at ₹2,514.35, up by ₹112.80, or 4.70%, on the BSE.
