Goa, September 25, 2026:

Goa Shipyard Limited (GSL), a Government of India undertaking under the Ministry of Defence, has recorded strong financial and operational performance during FY 2025-26. The company's total revenue crossed the ₹4,000-crore mark, while its order book exceeded ₹13,000 crore.

GSL's 60th Annual General Meeting (AGM) was held today, September 25, through video conferencing. The meeting was presided over by Shri Brajesh Kumar Upadhyay, Chairman and Managing Director (CMD), GSL. The audited financial statements for FY 2025-26 were also adopted at the meeting.

Speaking at the AGM, CMD Shri Brajesh Kumar Upadhyay said the company's revenue from operations grew by 32 per cent over the previous year to ₹3,764 crore. The company's total revenue stood at ₹4,004 crore, while Profit Before Tax (PBT) increased by 17 per cent to ₹442 crore. EBITDA stood at ₹522 crore, while the company's net worth reached a record ₹1,936 crore.

The shipyard has witnessed significant growth in its financial performance over the last five years, with total revenue increasing from ₹865 crore in 2021-22 to ₹4,004 crore in 2025-26. During the same period, PBT increased from ₹135 crore to ₹442 crore, CMD Shri Upadhyay said.

Elaborating further, Shri Upadhyay said FY 2025-26 was a pivotal year for GSL, marked by the successful execution and completion of projects, as well as the expansion of the shipyard's capabilities. He highlighted GSL's elevation from 'Schedule B' to 'Schedule A' CPSE status on March 2, 2026, describing it as a significant milestone in the company's growth journey.

He also said the company's order book, representing the total value of work in hand, stood at over ₹13,000 crore as of March 31, 2026. With the signing of a high-value contract with the Navy, the order book is expected to reach approximately ₹32,400 crore, providing greater visibility for future shipbuilding projects.

Shri Upadhyay added that GSL continued to make progress on major shipbuilding projects for the Indian Navy, including frigates and Next Generation Offshore Patrol Vessels (NGOPVs). The successful launch of the first NGOPV on March 31, 2026, marked a significant milestone for the shipyard.

The shipyard also achieved key milestones in projects for the Indian Coast Guard. These included the delivery of the first Pollution Control Vessel, ICGS Samudra Pratap, to the Coast Guard on December 23, 2025. In addition, GSL delivered four Fast Patrol Vessels to the Indian Coast Guard during 2025.

During the year, GSL's export turnover increased by 55 per cent to ₹127 crore. Key export-related milestones included the launch of a 4,000-tonne Floating Dry Dock for a foreign navy, the keel-laying of a dredger for a European client, and the handover of the Fast Patrol Vessel 'LESPWAR' to the Seychelles Coast Guard by Prime Minister Narendra Modi on June 27, 2026, Shri Upadhyay said.

As part of the 'Aatmanirbhar Bharat' initiative, GSL continued to focus on increasing indigenous content by prioritising procurement from Indian MSMEs and startups. Shri Upadhyay also said the company spent ₹6.61 crore on CSR initiatives in areas including healthcare, education, sanitation and women's empowerment.

During the AGM, GSL announced a final dividend of 171 per cent for FY 2025-26, amounting to ₹8.55 per share, compared to ₹7.65 per share in the previous financial year. The company's Earnings Per Share (EPS) increased to ₹28.47.

The meeting was attended by the company's Directors, Company Secretary, Auditors and shareholders.

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Source –GSL, Goa/PIB Panaji/AY/PK

 

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