Shares of Garden Reach Shipbuilders & Engineers Ltd (GRSE) surged nearly 18% in intraday trade on Wednesday after the company reported its highest-ever annual turnover and strong operational performance for the financial year 2025–26.
As of around 11:40 am, the stock was trading at Rs 2,322, up Rs 351.20 or 17.82%.
GRSE reported a record annual turnover of Rs 6,400 crore for FY26, compared to Rs 5,076 crore in the previous financial year, marking a 26% rise.
In its filing, the company said, “GRSE has recorded the highest annual turnover in its history for FY 2025–26, amounting to Rs 6,400 crore as against Rs 5,076 crore in FY 2024–25.”
Along with strong financials, the company also announced an interim dividend of 129%, higher than 89.5% in the previous year, which further supported investor sentiment.
The company highlighted strong execution during the year, commissioning five vessels and delivering eight vessels to the Indian Navy.
“FY 2025–26 saw key milestones with the commissioning of five vessels during the year [and] GRSE delivered a total of eight vessels to the Indian Navy,” the company said.
These included frigates, survey vessels, and anti-submarine warfare crafts, showing steady progress in defence shipbuilding.
GRSE also said it has “achieved significant progress in the construction of 12 export vessels for a German client, as well as a Dredger for a friendly foreign country.”
The rally in GRSE shares was backed by strong trading activity.
Around 40 lakh shares changed hands during the session, much higher than the 20-day average of 3.3 lakh shares, indicating strong investor interest following the update.
The positive sentiment spread to other shipbuilding companies as well.
Shares of Mazagon Dock Shipbuilders Ltd and Cochin Shipyard Ltd rose up to 20%.
While these companies have not yet announced similar updates, GRSE’s strong performance appears to have lifted the broader sector.
For Cochin Shipyard, an additional trigger could be its expected inclusion in the Futures & Options segment from April 1.
GRSE’s update reflects continued momentum in the shipbuilding sector, driven by defence orders and export opportunities.
With higher revenue, strong execution, and improved shareholder returns through dividends, the stock saw a sharp reaction from investors during the session.