Kolkata: Defence PSU Garden Reach Shipbuilders and Engineers (GRSE) Ltd has been conferred with the coveted 'Navratna' status by the Department of Public Enterprises, a senior official said on Saturday.
"GRSE was accorded 'Navratna' status on Friday in recognition of the defence shipyard's consistent financial and physical performance over the years," the official said in a statement.
A 'Navratna' status facilitates public sector enterprises to make larger investments, enhancing financial and operational autonomy, he said.
The Kolkata-based warship-maker's revenue from operations has grown from Rs 1,754 crore in in the 2021-22 fiscal to Rs 7,002 crore in 2025-26, an increase of nearly 300 per cent, the GRSE official said.
During the same period, profit after tax rose from Rs 190 crore to Rs 748 crore, reflecting nearly 294 per cent growth, he said.
The shipyard, which also builds commercial vessels, already delivered eight warships during the year, including three on the same day on March 30, 2026.
GRSE Chairman and MD, Commodore P R Hari (retired), said the conferment of 'Navratna' status is a defining moment in GRSE'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.
The shipyard has delivered the largest number of warships to the Indian Navy, Coast Guard, and friendly foreign nations, the official said.
Out of the 118 warships delivered by GRSE, 80 have been inducted into the Indian Navy, he added.
