GRSE Q2 Profit Rises 12% To ₹172 Crore, Revenue Climbs To ₹1,827 Crore

Mumbai: Garden Reach Shipbuilders & Engineers Limited (GRSE) reported an 11.8 percent year-on-year rise in standalone net profit to Rs 171.98 crore for the quarter ended September 30, 2026, compared with Rs 153.79 crore in the corresponding quarter last year.

Revenue from operations increased 8.9 percent to Rs 1,826.69 crore from Rs 1,677.38 crore, according to the company's unaudited financial results filed with stock exchanges on Wednesday, November 11.

Quarterly Performance

GRSE's total income rose to Rs 1,885.64 crore in Q2 FY27 from Rs 1,746.07 crore in Q2 FY26, registering an increase of nearly 8 percent.

Total expenses climbed to Rs 1,654.02 crore from Rs 1,536.71 crore during the same period.

Profit before tax increased 10.6 percent to Rs 231.62 crore against Rs 209.36 crore a year earlier.

Earnings per share improved to Rs 15.01 from Rs 13.43 in the corresponding quarter last year.

Sequential Comparison

Compared with the April-June quarter, GRSE's net profit declined marginally from Rs 172.84 crore to Rs 171.98 crore.

However, revenue increased slightly from Rs 1,814.62 crore to Rs 1,826.69 crore.

Total income declined from Rs 1,914.18 crore to Rs 1,885.64 crore, while other income fell from Rs 99.57 crore to Rs 58.95 crore.

Profit before tax remained largely unchanged at Rs 231.62 crore, compared with Rs 231.52 crore in the preceding quarter.

Half-Year Performance

For the first six months of FY27, GRSE reported net profit of Rs 344.81 crore, compared with Rs 273.96 crore during the corresponding period of FY26, representing growth of nearly 26 percent.

Revenue from operations increased 21.9 percent to Rs 3,641.31 crore from Rs 2,987.25 crore.

Total income reached Rs 3,799.83 crore, compared with Rs 3,128.49 crore a year earlier.

Profit before tax increased to Rs 463.15 crore from Rs 376.08 crore, while earnings per share improved to Rs 30.10 from Rs 23.92.

Expenses And Audit

The company reported higher material consumption and employee benefit expenses during the September quarter compared with the year-earlier period.

The financial results were approved by the board on November 11, 2026.

The statutory auditors completed their limited review without modifying their conclusion.

Disclaimer: This report is based on unaudited financial results filed by the company and does not constitute investment advice.