Garden Reach Shipbuilders Q2 Results: PAT Increases 11.8% To ₹171.98 Crore, Revenue At ₹1,826.69 Crore

Garden Reach Shipbuilders & Engineers Limited (GRSE) reported an 8.9% year-on-year increase in revenue from operations. It stood at ₹1,826.69 crore in Q2 FY27, compared with ₹1,677.38 crore in the corresponding quarter last year.

The GRSE Q2 net profit increased 11.8% to ₹171.98 crore from ₹153.79 crore a year ago. The company reported higher profit before tax too, but material costs also rose during the quarter.

The Garden Reach Shipbuilders share price closed at ₹2,225.40 on 11 November, up 1.24% on the National Stock Exchange (NSE).

GRSE Q2 Results: Other Key Highlights

Profit before tax rose 10.6% to ₹231.62 crore from ₹209.36 crore in the year-ago quarter. Total income increased 8% to ₹1,885.64 crore.

Total expenses rose 7.6% to ₹1,654.02 crore. The cost of materials consumed increased to ₹1,087.09 crore from ₹677.87 crore, making it the largest expense during the quarter. Subcontracting charges, however, declined to ₹189.97 crore from ₹343.70 crore. Employee benefit expenses also fell to ₹87.39 crore from ₹93.51 crore.

How Did GRSE Perform In H1 FY27?

For the six months ended 30 September 2026, revenue from operations increased 21.9% to ₹3,641.31 crore from ₹2,987.25 crore.

Profit before tax rose 23.2% to ₹463.15 crore, while PAT increased 25.9% to ₹344.81 crore from ₹273.96 crore. Earnings per share for the half-year improved to ₹30.10 from ₹23.92.

GRSE reported net cash outflow from operating activities of ₹354.69 crore during H1 FY27, compared with an outflow of ₹600.98 crore in the corresponding period last year. The cash-flow statement shows that changes in working capital, particularly inventory and other current liabilities, affected operating cash flows.

Source

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