GRSE Q3 FY26: Profit up 11%, revenue up 12% QoQ

Key takeaway from GRSE’s latest quarterly update

Garden Reach Shipbuilders & Engineers Ltd (GRSE), listed on NSE as GRSE, reported sequential improvement across revenue, EBITDA and net profit for the quarter ended December 2025. The update shows revenue of ₹1,957 crore versus ₹1,746 crore in the September 2025 quarter, while profitability also moved higher. Net profit for the last quarter is reported at ₹170.77 crore, with the dataset marked “Last updated on: Mar 16, 2026”.

The numbers are being tracked closely because GRSE has also seen sharp swings in investor attention around earlier quarters, including reported strong growth in Q4 FY25 and a separate update that described a strong first quarter of FY26. Alongside earnings, the company’s dividend announcements and scheduled earnings dates are also part of the current market narrative.

Dec 2025 quarter: revenue rises to ₹1,957 crore

For the December 2025 quarter, GRSE’s revenue is stated at ₹1,957 crore. This is compared with ₹1,746 crore in the September 2025 quarter. The sequential increase is described as 12.12%.

The same dataset also includes a separate “revenue earned” figure of ₹1,895 (presented without a month or quarter label in the text). Since the article data provides both values, readers should treat ₹1,957 crore as the explicitly stated “Dec ’25” revenue figure and view ₹1,895 as an additional reported revenue-earned datapoint from the same compilation.

EBITDA grows to ₹233.92 crore

GRSE’s EBITDA for the December 2025 quarter is given as ₹233.92 crore, compared with ₹224.85 crore in September 2025. The sequential growth is stated at 4.03%.

EBITDA is an operating performance indicator often tracked for execution-heavy businesses. In GRSE’s case, multiple sources and tables in the provided data use slightly different presentations of operating profit metrics. This makes it useful to focus on the clearly labelled quarter-on-quarter comparison for Dec 2025 versus Sep 2025 when discussing the latest update.

Net profit reported at ₹170.77 crore

The net profit for the December 2025 quarter is reported as ₹170.77 crore, compared with ₹153.79 crore in the September 2025 quarter. The sequential increase is stated at 11.04%.

The article content also includes a repeated snippet stating the company “reported a net profit of Rs 170”, which aligns directionally with ₹170.77 crore for the Dec 2025 quarter as presented in the key highlights.

Dividend and earnings date references in the dataset

The same compilation notes that GRSE “has declared a dividend of Rs 7.15 on 03 Feb, 2026.” Separately, it states an “Upcoming Earnings date for Garden Reach Shipbuilders & Engineers Ltd. is 28th, Jan, 2026.”

These references are included in the source text as-is. Investors typically cross-check such dates against exchange filings and company disclosures, especially when multiple dates and quarter references appear together in aggregated market summaries.

FY26 Q1 update: profit and revenue also cited higher YoY

Beyond the Dec 2025 quarter comparison, the article data also references a “strong first quarter for FY26” for GRSE. It states profit after tax rose 37.8% year-on-year to ₹120.17 crore, while revenue from operations increased 29.7% year-on-year to ₹1,309.87 crore.

This same update reports earnings per share at ₹10.49 and says EBITDA nearly doubled to ₹111.8 crore compared with ₹56.3 crore a year ago. These figures are presented as a separate quarterly performance snapshot within the supplied text.

FY25 Q4 headlines: sharp YoY jump and dividend recommendation

GRSE’s March quarter FY25 performance is described in the article data through multiple reported figures. One section states profit more than doubled, rising 118.9% year-on-year to ₹244 crore in Q4 FY25 from ₹112 crore in Q4 FY24. It also states revenue from operations climbed 61.7% year-on-year to ₹1,642 crore in Q4 FY25, compared with ₹1,015.7 crore a year earlier.

For operating performance, one section states EBITDA rose 101% year-on-year to ₹335 crore in Q4 FY25 from ₹166 crore in Q4 FY24. Another section cites EBITDA of ₹219 crore, an EBITDA margin of 13.3% (versus 8.9% in Q4 FY24), profit before tax of ₹324 crore, and EPS of ₹21.32 (versus ₹9.74). Since both sets appear in the provided text, they are best read as separate reported versions included in the compilation.

The Q4 FY25 coverage also mentions a final dividend recommendation of ₹4.90 per equity share for FY25, subject to shareholder approval, with payment described as within 30 days of declaration at the company’s 109th AGM.

Stock price moves referenced in the article data

The supplied text includes several market-price references across dates. One quote-style snippet shows a delayed price of ₹2,646.00, up ₹21.40 (0.82%), timestamped “Aug 5, 2025, 1:30 PM IST.”

It also notes GRSE shares “were buzzing” on Wednesday, May 14, 2025, rising 18.25% to an intraday high of ₹2,264.65 per share, and later trading 15.78% higher at ₹2,217.20 around 12:00 noon. Separately, the dataset says GRSE, Zen Technologies, and Cochin Shipyard saw stock prices rise between 4% and 6% during Friday’s trade.

Financial history tables: FY25 revenue and profit in ₹ crore

The provided data includes an S&P Global Market Intelligence table shown in “millions INR” and another financial summary presenting results in ₹ billions. Normalised to ₹ crore (where ₹10 million equals ₹1 crore), selected FY figures appear as follows.

The same overall compilation also states “Revenues… grew 41.28% last year to ₹50.76 billion,” which is consistent in scale with ₹5,076 crore when converted. Readers should note that the text contains multiple tables and summaries that may present overlapping metrics in different formats.

What the latest quarter indicates for GRSE tracking

The Dec 2025 quarter comparison shows sequential improvement in all three headline lines provided: revenue, EBITDA, and net profit. The growth rates in the data point to faster improvement in profit than in EBITDA on a quarter-on-quarter basis, while revenue growth is also strong.

At the same time, the broader dataset highlights how different quarters have been discussed in the market, including a strong Q4 FY25 and a separate FY26 Q1 performance update. For investors following defence PSUs, the combination of earnings momentum, dividend announcements, and stock price reactions often shapes near-term attention, even when the underlying data is presented across multiple sources.

Summary table: Dec 2025 vs Sep 2025 (QoQ)

Conclusion

GRSE’s reported December 2025 quarter shows sequential growth, with revenue at ₹1,957 crore and net profit at ₹170.77 crore compared with the previous quarter. The source text also includes dividend details of ₹7.15 declared on Feb 3, 2026, and a referenced earnings date of Jan 28, 2026. Market focus is likely to remain on upcoming earnings updates and any further company disclosures tied to results and dividends.