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Garden Reach Sh.

Q1 FY27

Garden Reach Shipbuilders & Engineers Q1 FY27: Order Book ₹13,596.26 Cr

Q1 FY27 earnings call: what management said on revenue, margins and capex.

Price₹2,120
Market cap₹24.3K Cr
P/E30.3
Updated16 Oct 2026
Read4 min read

Garden Reach Sh. Q1 FY27 key numbers

Revenue
Current order book stands at approximately ₹13,596 crore, with major projects like P-17 Alpha (₹4,519 crore left) and Anti-Submarine Shallow Water Craft (₹1,816 crore left), supporting steady revenue recognition.

As stated in Garden Reach Sh.'s Q1 FY27 earnings call transcript · published 25 Aug 2026. Reported figures, not investment advice.

The short version

GRSE expects to maintain strong execution momentum in FY27, continuing from recent quarters with robust ship deliveries (eight ships delivered last year). Q1 FY27 showed strong growth with total income up 38% YoY, revenue from operations up 39%, and PAT up 44%.

From Garden Reach Sh.'s Q1 FY27 earnings-call transcript · updated 16 Oct 2026.

Revenue & Sales Performance

Good growth
  • GRSE expects to maintain strong execution momentum in FY27, continuing from recent quarters with robust ship deliveries (eight ships delivered last year).
  • Current order book stands at approximately ₹13,596 crore, with major projects like P-17 Alpha (₹4,519 crore left) and Anti-Submarine Shallow Water Craft (₹1,816 crore left), supporting steady revenue recognition.
  • Next-Generation Corvette (NGC) contract revenue to begin from FY28, with full project completion targeted by 2034-35, adding to revenue streams in the medium to long term.
  • Water metro projects across multiple states may drive additional orders worth about ₹1,500 crore with 30-40 platforms, contributing to volumes.

2 more points from Garden Reach Sh.'s call on revenue

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Profitability & Margins

See what Garden Reach Sh. said on profitability & margins — free account, 30 seconds.

Capital Expenditure Plans

Capex planned
  • GRSE has a clear expansion plan involving both Brownfield and Greenfield projects on eastern and western seaboards.
  • Brownfield modernization within current premises aims to increase shipbuilding capacity from 28 to 32 platforms by end of calendar year.
  • Greenfield project in West Bengal (Raichak, closer to the sea) involves setting up a full-fledged shipyard with capital infusion approx. ₹2,200 crore; project expected to take 3-5 years.
  • Another Greenfield facility on western seaboard focused on total ship solution (shipbuilding, green ship recycling, ship repair) with capital infusion approx. ₹2,000 crore; expected completion in about 3 years.

2 more points from Garden Reach Sh.'s call on capex

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Fundraising & Capital Structure

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Order Book & Pipeline

Order book flat
  • Current total order book: ₹13,596.26 crore
  • Shipbuilding: ₹12,980 crore (95%)
  • Ship repair: ₹96 crore
  • Naval vessel gun: ₹219 crore
  • Bailey bridge: ₹158 crore
  • Deck machinery: ₹58 crore
  • Diesel engine plant: ₹82 crore
  • Major shipbuilding projects in order book:
  • P 17 Alpha: ₹4,519 crore
  • Anti-Submarine Shallow Water Craft: ₹1,815 crore
  • Survey Vessel Large: ₹225 crore
  • Next Generation Offshore Patrol Vessel (NGOPV): ₹3,075 crore
  • Ocean Research Vessel: ₹740 crore
  • Acoustic Research Ship: ₹450 crore
  • Coastal Research Vessel: ₹258 crore
  • Ferry: ₹203 crore
  • Multi-Purpose Vessels and Dredger: ₹1,355 crore
  • Upcoming/RFP Live Orders worth approximately ₹80,000 crore:
  • Navy & Coast Guard projects including fast interceptor crafts, mine sounder measure vessels, landing platform docks, etc.

2 more points from Garden Reach Sh.'s call on order book

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What the Q1 FY27 call signalled

2 of 4 strong

RevenueGood growth
MarginMargins steady
CapexCapex planned
Order bookOrder book flat

Garden Reach Sh. — Quarterly revenue & net profit

Revenue Net profit
Dec 2024Q3 FY25
Mar 2025Q4 FY25
Jun 2025Q1 FY26
Sep 2025Q2 FY26
Dec 2025Q3 FY26
Mar 2026Q4 FY26

Q1 FY27 figures are not in this chart yet. Latest shown: Mar 2026 (Q4 FY26). The Q1 FY27 numbers from the filing are in the analysis on this page.

Reported quarterly figures (₹ Cr). Latest (Q4 FY26): revenue ₹2.1K Cr, net profit ₹303 Cr. Revenue and profit are scaled separately — hover a quarter for exact figures.

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What Garden Reach Shipbuilders & Engineers Ltd's management said in earlier quarters

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Frequently Asked Questions

What were Garden Reach Sh. Q1 FY27 results?

GRSE expects to maintain strong execution momentum in FY27, continuing from recent quarters with robust ship deliveries (eight ships delivered last year). Q1 FY27 showed strong growth with total income up 38% YoY, revenue from operations up 39%, and PAT up 44%.

What is Garden Reach Sh. share price analysis?

Garden Reach Sh. currently shows a moderate growth signal based on ranking data. The stock trades at a P/E of 30.3 with a market cap of ₹24,287 Cr. Investors should review the full earnings analysis for detailed insights.

Is Garden Reach Sh. planning capital expenditure?

GRSE has a clear expansion plan involving both Brownfield and Greenfield projects on eastern and western seaboards. - Brownfield modernization within current premises aims to increase shipbuilding capacity from 28 to 32 platforms by end of calendar year. - Greenfield project in West Bengal (Raichak, closer to the sea) involves setting up a full-fledged shipyard with capital infusion approx.

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This analysis is AI-generated based on publicly available earnings data and the company's earnings call transcript. This is not investment advice. Please consult a SEBI-registered advisor before making investment decisions.