GRSE gains as board approves Rs 2,896 crore Raichak shipyard outlay

Garden Reach Shipbuilders & Engineers (GRSE) gained 1.57% to Rs 2,410 after the company's board approved a capital budgetary outlay of Rs 2,896 crore for construction of a greenfield shipyard at Raichak in West Bengal.

The approval was made at the board meeting held on 21 September 2026. GRSE said the new facility will enhance its shipbuilding capacity across both naval and commercial segments.

The Raichak project is part of GRSE's capacity expansion programme announced in August 2026, covering three facilities at Raichak, Shalimar and Kidderpore Docks with a total planned investment of Rs 2,670 crore. The company had then earmarked Rs 2,500 crore for the Raichak facility, nearly Rs 100 crore for the Timber Pond facility at Shalimar and around Rs 70 crore for the Damodar facility at Kidderpore Docks.

The Raichak facility is planned as a shipbuilding hub with a 200-metre dry dock, slipway, launching pad, jetties and block fabrication facilities. It is expected to enable construction of warships up to 200 metres and commercial vessels up to 60,000 DWT.

GRSE had said the capacity expansion was aimed at strengthening its indigenous shipbuilding capabilities, supporting future growth and enabling the execution of larger and more complex projects. The latest board approval represents the capital budgetary outlay for the Raichak greenfield shipyard.

GRSE is a Navratna public sector undertaking under the Ministry of Defence. The company is engaged in shipbuilding and ship repair, with capabilities spanning naval and commercial vessels.

GRSE's standalone net profit jumped 43.82% year on year (YoY) to Rs 172.84 crore in Q1 FY27, compared with Rs 120.18 crore in Q1 FY26. Revenue from operations jumped 38.53% YoY to Rs 1,814.62 crore in Q1 FY27.

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