Shares of Garden Reach Shipbuilders & Engineers (GRSE) rose as much as 6%to their day’s high of Rs 2,760 per share on Monday, September 22, after the company said it has signed five memorandums of understanding (MoUs) with key players in the shipbuilding, port and infrastructure sectors.

The agreements were signed with Deendayal Port Authority, Syama Prasad Mookerjee Port Authority, Indian Port Rail & Ropeway Corporation, Shipping Corporation of India and Modest Infrastructure, the company said in a press release statement on Saturday, September 22.

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According to the company, the MoUs provide a framework for collaboration on projects including the construction of green and low-emission vessels, ship repair, development of port infrastructure, multimodal logistics, and ropeway connectivity.

GRSE said the partnerships are aimed at boosting India’s shipbuilding capacity and supporting the government’s Maritime Amrit Kaal vision to position the country among the world’s top five shipbuilding nations by 2047.

Garden Reach Shipbuilders & Engineers (GRSE) reported a profit after tax (PAT) of Rs 120.17 crore, up 37.8% YoY from Rs 87.19 crore in the year-ago period. The company’s revenue from operations rose 29.7% YoY to Rs 1,309.87 crore for the quarter ended June 30, 2025, against Rs 1,009.72 crore reported in the same quarter of the previous financial year.However, sequentially, the company’s net profit witnessed a decline of nearly 51% from Rs 244.25 crore in Q4FY25.

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GRSE’s total income surged 27.5% to Rs 1,382.41 crore in the June quarter from Rs 1,083.59 crore in the corresponding quarter of the previous financial year. On a sequential basis, it was down from Rs 1,755.97 crore in the fourth quarter of FY25.

At about 10 AM on Monday, shares of GRSE were trading at Rs 2,707, higher by 4% from the previous close on the NSE. Garden Reach Shipbuilders & Engineers (GRSE) stock price has risen 65% since the beginning of the year.

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