In an exchange filing dated 20 June 2026, the company announced that the Government of India approved the elevation through an Office Memorandum issued on 19 June 2026. GRSE stated that the recognition reflects its strong financial performance, operational efficiency and sustained contribution to national security. The new status will provide the public sector enterprise with greater flexibility to undertake larger investments and expansion projects without requiring extensive government approvals.
The development comes as GRSE advances capacity expansion through both brownfield and greenfield projects. The company delivered eight warships during the financial year 2025-26, including three vessels commissioned on a single day, 30 March 2026. These comprised the Project 17A guided-missile frigate Dunagiri, the survey vessel Sanshodhak and the anti-submarine warfare shallow water craft Agray.
Chairman and Managing Director Commodore P.R. Hari (Retired) said the Navratna recognition would strengthen the company's ability to pursue strategic opportunities, enhance self-reliance in defence manufacturing and improve its competitiveness in global markets.
GRSE traces its origins to 1884 and came under Government of India ownership in 1960. The shipyard 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, the Coast Guard and friendly foreign nations.
The company is also expanding its commercial shipbuilding operations. It is currently constructing 12 multi-purpose vessels for a German client and has entered the fields of green and autonomous vessel development. GRSE stated that it remains the only Indian shipyard specialising in research vessels.
The company's financial performance remained robust during the fourth quarter of the financial year 2025-26. Standalone net profit rose 24.1 per cent to Rs 303.20 crore from Rs 244.25 crore recorded in the corresponding quarter of the previous financial year. Revenue from operations increased 29.1 per cent year-on-year to Rs 2,119.21 crore during the quarter ended 31 March 2026.
Despite the positive development, the company's shares ended lower on Friday. On the National Stock Exchange, the stock declined 0.93 per cent to settle at Rs 2,799.
The elevation to Navratna status represents a major achievement for GRSE and is expected to bolster its expansion ambitions, reinforce India's drive for self-reliance in defence manufacturing and strengthen the shipbuilder's position in both domestic and international markets.
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