Encouraged by consistent growth and operational efficiency, Garden Reach Shipbuilders receives Navratna PSU status

New Delhi: Appreciating the consistent growth and operational efficiency over the years, the government has granted Kolkata-based PSU  Garden Reach Shipbuilders & Engineers Limited (GRSE) Navratna status by the Department of Public Enterprises, Ministry of Finance in New Delhi. The shipbuilder has consistently seen its revenues rise from ₹1,754 crore in FY2021-22 to ₹7,002 crore in FY 2025-26, with its Profit After Tax (PAT) rising from ₹190 crore to ₹748 crore during the same period, a growth of almost 294%.

A proud milestone: GRSE has been conferred Navratna status by the Government of India. 🇮🇳
Greater autonomy. Greater agility. The same commitment to building world-class platforms.
Decades of engineering excellence, recognised.

As we enter this new chapter, we remain committed… https://t.co/yoqO4afcgS

— GRSE – Garden Reach Shipbuilders & Engineers Ltd (@OfficialGRSE) June 19, 2026

GRSE has been at the forefront of India’s defense modernization strategy under the Aatmanirbhar Bharat initiative. It has successfully delivered five major warships to the Indian Navy last year alone. In total, the shipyard has delivered 80 warships to the Navy, besides others to the coast guard and friendly foreign nations. It delivered India’s first indigenous warship, INS Ajay to the Navy, barely a year after being declared a Defence PSU.

After years of having a miniratna status, the Department of Defense Production, Ministry of Defense, forwarded the proposal to the Department of Public Enterprises to seek an upgrade of GRSE’s status to Navratna. This was approved by an inter-ministerial committee by the second week of February. 

“The conferment of Navratna status is a defining moment in GRSE’s journey and a matter of immense pride for every member of the GRSE family. This recognition reflects the confidence reposed in us and acknowledges the dedication, commitment and professionalism of our employees, past and present. This elevation will further empower us to pursue strategic opportunities, enhance self-reliance in defence manufacturing, strengthen our global competitiveness and contribute meaningfully towards the vision of Aatmanirbhar Bharat and India’s emergence as a leading maritime power by 2047.” Cmde PR Hari, IN (Retd), Chairman and Managing Director, GRSE, said in a press release.