Garden Reach Shipbuilders & Engineers Ltd
In terms of Reg 30 of the SEBI (LODR) Reg 2015, we are enclosing herewith a copy of the press release titled "GRSE Hits New High in Turnover, Declares Interim Dividend of 129%".
This ....
DIVIDEND
▲ Positive Development
MEDIUM RISK
📅 Filed on BSE: 31 Mar 2026, 04:03 PM IST · BSE ID: 5f7a8226-f983-4cf7-9b4f-04ea8e7e1136
View Original BSE Filing (PDF)
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In Simple Terms
India's government shipbuilder GRSE paid shareholders 129% dividend and hit record ₹6,400 crore revenue in FY26 by delivering major naval warships.
🤖 AI Summary
- Interim dividend declared at 129% of paid-up share capital; prior year was 89.5%
- FY 2025-26 turnover ₹6,400 crore (Provisional & Unaudited); FY 2024-25 was ₹5,076 crore
- Eight vessels delivered to Indian Navy including two P17A frigates, two SVL ships, four ASW-SWC
- Advanced Next Generation Corvettes contract; 12 export vessels under construction for German client
- Inaugural Modular Foot Suspension Bridge launched; 26 awards received including Defence Minister honour
🔢 Key Numbers — exact figures from BSE filing, not rounded
FY 2025-26 Turnover (Provisional & Unaudited)
₹6,400 crore
26.0%
FY 2024-25 Turnover
₹5,076 crore
Interim Dividend FY 2025-26
129% of paid-up share capital
Interim Dividend FY 2024-25
89.5% of paid-up share capital
Vessels Delivered FY 2025-26
8 (two P17A frigates, two SVL ships, four ASW-SWC)
🏢 How This Affects the Company
Record turnover of ₹6,400 crore reflects sustained naval delivery momentum with eight vessels completed in FY26, including flagship Project 17A frigate. Portfolio expansion into export vessels (12 units for German client), Next Generation Corvettes contract advancement, and non-warship platforms (Acoustic Research Ships, Hybrid Ferries, Dredgers) diversify revenue streams beyond domestic naval orders.
Interim dividend of 129% signals strong cash generation and profitability sufficient to return capital to shareholders at higher rate than prior year's 89.5%. Provisional unaudited revenue growth from ₹5,076 crore to ₹6,400 crore indicates underlying earnings strength, though audited results awaited for confirmed margins and retained earnings position.
FY26 delivery of eight vessels demonstrates execution scaling and supply chain management capability. Inauguration of Next Generation Virtual Reality Lab and strategic MoUs with five defence-related entities (Hindustan Shipyard, K2 Cranes, Kalyani Strategic Systems, SWAN Defence, Reintjes GmbH) strengthen manufacturing infrastructure and technology capabilities for future complex warship programs.
👥 What This Means For Shareholders
✅
Action Required
Monitor dividend record date announcement for interim dividend eligibility; confirm share holdings in demat account by record date deadline.
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Who Is Affected
All shareholders holding equity shares on dividend record date receive 129% dividend per share. Interim dividend payout timing and ex-date require formal announcement via separate Reg 30 filing.
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Management Signal
Elevated interim dividend (129% vs 89.5% prior year) and record turnover indicate management confidence in sustained profitability and cash generation capability from naval shipbuilding programs and portfolio diversification.
For information only. Not investment advice. ForgeUp is not SEBI-registered.
💡 Investor Takeaway
GRSE recorded highest-ever turnover of ₹6,400 crore in FY 2025-26 and declared interim dividend at 129% of paid-up capital, up from 89.5% prior year. Eight naval vessel deliveries and advancing Next Generation Corvettes contract confirm order execution. Audited results and dividend record date details awaited.
⚖️ Strengths & Concerns
✅ Positives
- Record ₹6,400 crore turnover achieved; 26% YoY growth from ₹5,076 crore prior year demonstrates sustained execution scale
- Dividend increased to 129% from 89.5% prior year; signals robust cash generation and management confidence in earnings sustainability