GRSE Shares Jump on Earnings Beat as Revenue Climbs 29% to ₹2,119 Crore
Shares of Garden Reach Shipbuilders & Engineers Ltd rose as much as 15% on the NSE on April 29 after the company reported Q4 FY26 net profit of ₹303 crore, up 24% year-on-year, according to exchange data.
The company also reported revenue from operations of ₹2,119 crore, up 29% from ₹1,642 crore in the same quarter last year, reflecting strong execution across defence contracts.
At around 12:10 pm, the stock was trading near ₹3,111, up about 8% after the initial surge.
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EBITDA Growth of 27% and Dividend of ₹6.7 Highlight Strong Financial Performance
GRSE reported EBITDA of ₹426 crore, up 27.3% YoY from ₹335 crore, indicating stable operating margins alongside revenue growth.
The board recommended a final dividend of ₹6.7 per share for FY26.
Cmde PR Hari (Retd), Chairman and Managing Director, said, “We delivered eight warships during FY26, reflecting strong execution capability.”
Read More : Eternal Q4 Profit Jumps 71% to Rs.174 Crore as Blinkit NOV Surges 95%
Defence Stocks Gain as GRSE Results Lift Sector Peers
The earnings-driven rally extended to other defence shipbuilders:
- Mazagon Dock Shipbuilders Ltd: +3.5%
- Cochin Shipyard Ltd: +2.5%
The Nifty India Defence index rose 1.4%, marking gains in six of the last seven sessions.
Shipping-related stocks also moved higher:
- Great Eastern Shipping Company: +6%
- Shipping Corporation of India: +2.1%
- Seamec Ltd: +2%
Order Book of Over ₹25,000 Crore Anchors Future Revenue Visibility
GRSE reported an order book exceeding ₹25,000 crore, as per its latest investor presentation and exchange disclosures, driven by ongoing Indian Navy shipbuilding programmes.
Execution of this order pipeline, along with delivery of eight warships in FY26, provides visibility for revenue growth over the medium term.
Valuation Comparison Shows GRSE Trading Near Sector Premium Levels
At the current price of around ₹3,100, GRSE is trading at an estimated P/E of 32–35x based on trailing earnings.
Peer comparison indicates similar valuation levels:
- Mazagon Dock Shipbuilders Ltd trades at approximately 30–34x P/E, based on recent market prices and earnings data
This places GRSE within the upper valuation range among defence PSU stocks.
FAQs Investors Are Searching After GRSE Q4 Results
What is GRSE Q4 net profit 2026?
₹303 crore, up 24% YoY.
What is GRSE Q4 revenue?
₹2,119 crore, up 29% YoY.
What is GRSE’s order book value?
Over ₹25,000 crore as per company disclosures.
Why did GRSE shares rise 15%?
Strong earnings growth, EBITDA expansion, and sector momentum.
Is GRSE stock expensive after the rally?
The stock trades at 32–35x P/E, in line with sector peers.
