State-owned warship builder Garden Reach Shipbuilders and Engineers (GRSE) has been granted the prestigious 'Navratna' status. The government move is expected to give the defence shipyard greater financial and operational flexibility as it expands its activities.
The Department of Public Enterprises conferred the status on the Kolkata-based company on Friday, citing its consistent financial and physical performance over the years.
"GRSE was accorded 'Navratna' status on Friday in recognition of the defence shipyard's consistent financial and physical performance over the years," an official said in a statement.
A 'Navratna' status facilitates public sector enterprises to make larger investments, enhancing financial and operational autonomy.
The recognition comes amid a period of rapid growth for the company. GRSE's revenue from operations rose from ₹1,754 crore in FY 2021-22 to ₹7,002 crore in FY 2025-26, marking an increase of nearly 300 per cent, according to the GRSE official.
Over the same period, profit after tax grew from ₹190 crore to ₹748 crore, representing a growth of almost 294 per cent.
The shipyard has also expanded its production output. During the last financial year, it delivered eight warships, including three on a single day on March 30, 2026.
GRSE Chairman and Managing Director Commodore P.R. Hari (Retd.) described the grant of Navratna status as a defining moment in the company's journey.
"This elevation will further empower us to pursue strategic opportunities, enhance self-reliance in defence manufacturing, strengthen our global competitiveness and contribute meaningfully towards India's emergence as a leading maritime power by 2047," he said.
GRSE is one of India's leading warship builders and has delivered the largest number of warships to the Indian Navy, the Coast Guard and friendly foreign countries. Of the 118 warships delivered by the company so far, 80 have been inducted into the Indian Navy.
