Vasco-da-Gama, Sept 25: Goa Shipyard Limited (GSL), a Defence Ministry undertaking, reported a strong financial and operational performance for 2025-26, with higher revenues, profitability, ship deliveries and a growing order pipeline.The company adopted its audited financial statements for the financial year at its 60th Annual General Meeting held through video conferencing on Friday.
The meeting was chaired by GSL Chairman and Managing Director Brajesh Kumar Upadhyay.According to the company, revenue from operations increased 32 per cent year-on-year to Rs 3,764 crore during 2025-26, while total revenue crossed the Rs 4,000-crore mark to reach Rs 4,004 crore.EBITDA rose to Rs 522 crore from Rs 460 crore in the previous year, while profit before tax increased 17 per cent to Rs 442 crore. The company’s net worth also reached a record Rs 1,936 crore.
GSL said its final dividend for 2025-26 was declared at 171 per cent, translating into Rs 8.55 per share, compared with Rs 7.65 per share in the previous financial year. Earnings per share stood at Rs 28.47.The shipyard’s order book was valued at more than Rs 13,000 crore as of March 31, 2026. The company said the figure is expected to rise to around Rs 32,400 crore following the signing of a high-value naval contract.
On the production front, GSL continued work on major naval programmes, including frigates and Next Generation Offshore Patrol Vessels (NGOPVs) for the Indian Navy. The first NGOPV was launched on March 31, 2026.
The company also reported significant progress in its projects for the Indian Coast Guard. It delivered the country’s first Pollution Control Vessel, ICGS Samudra Pratap, in December 2025, and the vessel was commissioned in January 2026.GSL also delivered a series of Fast Patrol Vessels to the Coast Guard during the period, with additional vessels handed over in May and August 2026.
The company’s export business also expanded, with export turnover rising 55 per cent to Rs 127 crore. During the period, GSL launched a 4,000-tonne floating dry dock for a foreign navy and laid the keel for a 2,000-cubic-metre trailing suction hopper dredger for a European customer.
Another major milestone was the design and construction of the Fast Patrol Vessel LESPWAR for the Seychelles Coast Guard. The vessel was formally handed over to the Seychelles Coast Guard in June 2026.GSL said it is also increasing the indigenous content of its ongoing projects in line with the government’s ‘Aatmanirbhar Bharat’ initiative. The company has been encouraging procurement from micro, small and medium enterprises and startups as part of its supply chain development.
As part of its corporate social responsibility initiatives, the shipyard spent Rs 6.61 crore on programmes covering healthcare, education, sanitation, women’s empowerment and livelihood development.
Upadhyay said the performance during 2025-26 reflected the company’s progress in strengthening its operational capabilities and expanding its presence in the domestic and international shipbuilding sector.He expressed gratitude to the Ministry of Defence, central and state government authorities, shareholders, directors and employees for their support.
