This was in recognition of the shipyard’s consistent financial and physical performance over the years.

GRSE’s financial performance over the last five years reflects its remarkable growth trajectory and operational excellence. The Company’s Revenue from Operations has grown from ₹1,754 crore in FY 2021-22 to ₹7,002 crore in FY 2025-26, registering an increase of nearly 300%. During the same period, Profit After Tax (PAT) has risen from ₹190 crore to ₹748 crore, reflecting a growth of nearly 294%.

A firm proponent of the Government ‘s Atmanirbharta and “Make in India” visions, the shipyard also delivered eight warships during the year, including three on the same day on March 30, 2026. These include P17A advanced guided-missile frigate Dunagiri, Sanshodhak, a Survey Vessel (Large) and Anti-Submarine Warfare Shallow Water Craft Agray.

Navratna status allows Public Sector Enterprises to make larger investments, enhancing their ability and expand operations.

The elevation to a Navratna status for GRSE comes at a time when the shipyard is in an expansion mode. It has embarked on a mission to increase capacity through both brownfield and greenfield projects.

Cmde PR Hari, IN (Retd), Chairman and Managing Director, GRSE, expressed his gratitude to the Government for being accorded this status and said, “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.”

GRSE has several firsts to its name. In 1961, barely a year after being declared a Defence Public Sector Undertaking, the shipyard delivered the country’s first indigenous warship, INS Ajay, to the Navy. GRSE is also the proud builder of first ever Indian Export Warship, CGS Barracuda for Govt of Mauritius and also the first DPSU shipyard to be listed in the stock exchanges.

While GRSE has delivered over 800 marine platforms, the shipyard has also delivered the largest number of warships to the Navy, Coast Guard & friendly foreign nations. The figure stands at 118. Of these, 80 have been inducted into the Navy.

GRSE has also made strides in the field of commercial shipbuilding and has bagged export orders. It is now building 12 multi-purpose vessels for a German client, in keeping with India’s ‘Make in India, Make for the World’ vision, also foraying into green and autonomous vessels. GRSE is the only shipyard with specialisation in research ships, thereby contributing significantly to maritime sovereignty.

The Two-day National Meet of the Forum of Women in Public Sector (WIPS), under the aegis of Standing Conference of Public Enterprises (SCOPE), on the theme ‘HER ERA-NOW & BEYOND’ was inaugurated in Mumbai by Chief Guest Shri Atul Sobti, Director General, SCOPE & Member, Governing Body, ILO, and Guest of Honour, Smt. Shirin Lokhande, Jt, Labour Commissioner, Govt of Maharashtra in the presence of Smt. Asha Ramamurthy, President, WIPS and other office bearers of WIPS. Bringing together over 600 participants, the meet honored exemplary women performers from various PSEs with Excellence Awards.

The recognition highlights GRSE’s sustained commitment towards promoting and strengthening WIPS initiatives within the organisation. The Company’s management has consistently extended strong support towards programmes that encourage inclusivity, diversity, and empowerment of women employees, exemplifying its continued efforts towards fostering gender equality and an inclusive workplace environment.

Instituted in 1992 by the Central APEX Forum of WIPS, the WIPS Award is presented annually to select Public Sector Undertakings in recognition of their exemplary efforts in advancing the professional growth, development, and empowerment of women in the PSU sector.