Profit before tax (PBT) rose 38.88% to Rs 231.53 crore in Q1 FY27 from Rs 166.72 crore in the corresponding quarter last year.

Total expenses climbed 38.41% YoY to Rs 1,682.66 crore in Q1 FY27, compared with Rs 1,215.70 crore in Q1 FY26. Cost of materials consumed stood at Rs 1,244.23 crore (up 83.01% YoY), employee benefits expense was Rs 101.35 crore (down 4.34% YoY), and subcontracting charges stood at Rs 81.52 crore (down 65.41% YoY), while finance costs declined 38.15% YoY to Rs 3.76 crore during the quarter.

GRSE traces its origins to 1884 and was taken over by the Government of India in 1960. The company delivered India's first indigenous warship, INS Ajay, in 1961 and has since built more than 800 marine platforms, including 118 warships for the Indian Navy, Coast Guard, and friendly foreign nations.

The company is also expanding its commercial shipbuilding business. It is currently constructing 12 multi-purpose vessels for a German client and has ventured into green and autonomous vessel development. GRSE said it is the only Indian shipyard specializing in research vessels.

Shares of Garden Reach Shipbuilders & Engineers rose 0.20% to Rs 2,617.95 on the BSE.