Garden Reach Shipbuilders Q2 results: Net profit soars 57% YoY to ₹154 crore; board decares dividend

In the corresponding period of the previous fiscal year, it had clocked a profit of ₹98 crore, the company said in a regulatory filing.

The shipyard witnessed a 45.45% YoY surge in its revenue from operations, which stood at ₹1,677 crore during the quarter under review, compared to ₹1,153 crore in the second quarter of the 2024-25 fiscal year (Q2FY25).

At an operational level, its EBITDA (earnings before interest, tax, depreciation, and amortisation), also known as operating profit, stood at ₹225 crore in Q2FY26, marking a more than 56% YoY jump from ₹144 crore in the same period of FY25.

Its EBITDA margin expanded by 332 basis points (bps) YoY to 9.3% during the quarter, as against 5.98% in the September quarter of the previous fiscal year.

Commenting on the earnings, Cmde PR Hari, Chairman and Managing Director of Garden Reach Shipbuilders & Engineers, said: “I am happy that we have been able to sustain the growth momentum and the Q2 results have been very encouraging. With a strong order book, result-oriented project execution strategy, and clear order visibility, I am confident of equally strong financial performance in the second half of FY26 also.”

Board declares interim dividend

GRSE’s board of directors also declared an interim dividend of ₹5.75 per equity share of face value of ₹10 each for FY26, amounting to ₹65.87 crore, out of profits of the Company for the half year ended 30th September, 2025.

The board fixed Tuesday, November 11, as the record date for the same.

Shares of Garden Reach Shipbuilders closed 0.92% lower at ₹2,550 apiece on the National Stock Exchange (NSE) on Tuesday. However, the earnings were declared after the markets closed.

The company’s total market capitalisation stood at ₹29,210.76 crore, as of November 4, 2025, according to data on the NSE.