Garden Reach Shipbuilders shares zoom 19%; what is the trigger?

The company on Monday delivered three frontline platforms to the Indian Navy, marking a significant milestone for indigenous defence manufacturing, an official said.

The warship-maker delivered to the Navy the advanced guided missile frigate 'Dunagiri', the survey vessel 'Sanshodhak', and the anti-submarine warfare shallow watercraft 'Agray', the official said.

'Dunagiri', the second advanced guided missile frigate built by GRSE under Project 17A, is among the most sophisticated platforms built by the Kolkata-based PSU, the official said in a statement.

The 149-metre-long, 6,670-tonne guided-missile frigate is equipped with state-of-the-art weapons and sensors, including advanced missile systems and an integrated combat management system, enabling multi-dimensional operations across air, surface, and sub-surface domains, he said.

"Equipped with BrahMos anti-ship and land-attack cruise missiles, along with advanced defence systems, Dunagiri represents a significant leap in naval strike and defensive capabilities," the official said.

'Sanshodhak', the last of the four large survey vessels built by GRSE, represents a key addition to the Navy's hydrographic and survey capabilities, he said.

The 110-metre-long vessel is equipped with advanced systems for conducting full-scale coastal and deep-water hydrographic surveys, including port and harbour approaches, navigation channels, and maritime limits.

It is also capable of collecting oceanographic and geographical data for defence applications, the official said.

'Agray', one of the eight anti-submarine warfare shallow watercrafts (ASW-SWCs) being built by GRSE, is designed for operations in coastal waters.

It is capable of full-scale sub-surface surveillance, search and attack missions, as well as coordinated operations with aircraft, and is armed with lightweight torpedoes and anti-submarine warfare rockets, the official said.

Shares of GRSE on Monday, March 30, 2026, ended at ₹1,972.80 apiece on the NSE, down 4.62%.

GRSE: Business updates

In its press release dated March 31, 2026, GRSE said that, sustaining its strong growth momentum, the company recorded the highest annual turnover in its history for FY 2025-26, amounting to ₹6,400 crore (Provisional & Unaudited), as against ₹5,076 crore in FY 2024–25.

The shipyard has also declared an interim dividend of 129% of paid-up share capital against 89.5% in FY 2024–25.

“FY 2025–26 saw key milestones in naval shipbuilding, with the commissioning of five vessels during the year, including INS Himgiri, the first Project 17A Advanced Frigate, INS Ikshak, the third Survey Vessel (Large), and the first three Anti-Submarine Warfare Shallow Water Crafts (ASW-SWC)—INS Arnala, INS Androth, and INS Anjadip,” the press release said.

GRSE delivered a total of eight vessels to the Indian Navy during FY 2025–26, comprising two Project 17A (P17A) frigates, two Survey Vessel Large (SVL) ships, and four Anti-Submarine Warfare Shallow Water Crafts (ASW-SWC).

"Notably, these delivery milestones include the simultaneous delivery of three warships—Dunagiri, Sanshodhak, and Agray—to the Indian Navy on the same day. GRSE is also in the advanced stages of concluding a prestigious contract for the construction of five next-generation corvettes," it said.

GRSE said the company continues to remain the only defence public sector shipyard engaged in the manufacture of prefabricated steel bridges. During FY 2025–26, GRSE achieved a significant milestone with the launch of a first-of-its-kind Modular Foot Suspension Bridge (FSB), a fully indigenous structure designed to span up to 400 feet without the requirement of piers.

The shipyard also delivered seven 30mm naval surface gun systems to the Indian Navy and executed multiple refit projects.