Garden Reach Shipbuilders & Engineers Limited has signed a memorandum of understanding with K2 Cranes & Components Private Limited for the design, development and manufacture of marine, defence and shipyard cranes and associated equipment.
The MoU covers collaboration on cranes and related equipment intended for use in marine, defence and shipyard applications. The arrangement is aimed at expanding GRSE’s engineering product portfolio alongside its core shipbuilding activities. The collaboration will focus on the design, development and manufacture of cranes and equipment to be produced domestically. The products manufactured under the agreement are expected to cater to both domestic requirements and international customers.
Garden Reach Shipbuilders & Engineers Limited reported higher revenue and profit for the third quarter ended 31 December 2025. The company’s total income in Q3 FY26 rose to INR 19.58 billion, compared with INR 13.43 billion in the corresponding quarter of the previous year. Revenue from operations increased to INR 18.96 billion from INR 12.71 billion. Profit after tax for the quarter stood at INR 1.71 billion, up from INR 0.98 billion, while profit before tax rose to INR 2.18 billion from INR 1.34 billion. Earnings per share increased to INR 14.91 from INR 8.57.
“With a strong set of numbers recorded during Q3 FY26, we are well on track to register our best-ever financial performance during the current financial year and declared for the first time, second interim dividend for the financial year 2025–26 at INR 7.15 per equity share,” said PR Hari, Chairman and Managing Director of Garden Reach Shipbuilders & Engineers Limited. “We have delivered five warships so far during the year and are currently executing 10 major shipbuilding projects comprising 42 platforms.”
Garden Reach Shipbuilders & Engineers Limited operates primarily in shipbuilding for the Indian Navy, Indian Coast Guard and export customers, and has diversified into engineering products alongside ship repair activities. The company is listed on both the National Stock Exchange of India and BSE.
