GRSE details strong order book, project deliveries, and expansion plans

Garden Reach Shipbuilders & Engineers Limited (GRSE) announced a conference call on August 19, 2025, to discuss Q1 FY26 unaudited financial results. Since the last interaction, GRSE delivered the third large survey vessel, the first anti-submarine shallow watercraft, and the first P-17 Alpha ship ahead of schedule. The P-17 Alpha ship is the company's largest weapon platform built. GRSE also completed two refits and delivered the first indigenous 30-mm naval surface gun.

GRSE's order book as of June 30, 2025, stands at ₹21,700 crores, comprising 10 projects and 40 marine platforms, including 14 naval ships. The company secured a contract for two coastal research vessels for the Geological Survey of India and is the L1 bidder for a next-generation corvette project, valued at approximately ₹25,000 crores, expected to be concluded this financial year. GRSE plans to increase its shipbuilding capacity to 32 ships by 2026 and acquire a new dry dock in Kolkata.

The company is developing a greenfield shipbuilding facility in West Bengal and exploring a similar facility on India's West or East Coast within a year. Current projects show the second P-17 Alpha ship at 80% physical progress, with delivery expected by April 2026, and the last survey vessel at 82%, expected by year-end. GRSE is executing an order for eight Multipurpose Vessels for a German client and plans another contract for four more by mid-September.