Kolkata, June 20. Kolkata-based defence shipbuilder Garden Reach Shipbuilders & Engineers (GRSE) has been accorded Navratna status by the Department of Public Enterprises under the Ministry of Finance, a move that will provide the state-owned company greater financial and operational flexibility as it expands its shipbuilding capabilities.
In a regulatory filing on June 20, GRSE said the government had approved the elevation through an office memorandum issued on June 19. The company described the recognition as an acknowledgement of its strong financial performance, operational excellence and contribution to India’s defence preparedness.
Navratna status grants central public sector enterprises enhanced autonomy, allowing them to undertake larger investments and expansion projects with fewer government approvals.
The development comes at a time when the shipyard is pursuing both brownfield and greenfield expansion plans. During FY26, GRSE delivered eight warships, including three vessels on a single day on March 30 – the Project 17A stealth frigate INS Dunagiri, survey vessel INS Sanshodhak and anti-submarine warfare shallow water craft INS Agray.
Welcoming the decision, Chairman and Managing Director Commodore PR Hari (Retd) said the Navratna status would strengthen the company’s ability to capitalise on strategic opportunities, advance self-reliance in defence manufacturing and enhance its competitiveness in global markets.
Founded in 1884 and brought under government ownership in 1960, GRSE built India’s first indigenous warship, INS Ajay, in 1961. Since then, the shipyard has delivered more than 800 vessels, including 118 warships for the Indian Navy, the Coast Guard and friendly foreign countries.
Besides its defence portfolio, GRSE has been expanding its commercial shipbuilding business. The company is currently constructing 12 multi-purpose vessels for a German customer and has also entered the fields of green and autonomous vessel technologies. It says it remains the only Indian shipyard specialising in research vessels.
GRSE’s financial performance has remained robust. The company reported a 24.1 percent increase in standalone net profit to ₹303.2 crore in the fourth quarter of FY26, while revenue from operations rose 29.1 percent year-on-year to ₹2,119.21 crore during the January-March period.
