Goa Shipyard Limited (GSL) recorded its highest-ever revenue of ₹4,004 crore in FY 2025–26, crossing the ₹4,000-crore mark for the first time.
The Goa-based defence shipbuilder increased operating revenue by 32% to ₹3,764 crore, supported by faster vessel deliveries and growing export orders.
GSL also strengthened its financial position, with EBITDA rising to ₹522 crore and profit before tax reaching ₹442 crore.
Its order book stood above ₹13,000 crore, while the upcoming naval contract could expand the pipeline to around ₹32,400 crore.
The shipyard also increased exports, delivered key vessels and supported community development through CSR initiatives.
Record Revenue Strengthens Goa Shipyard
Goa Shipyard Limited achieved a major financial milestone in FY 2025–26 by recording ₹4,004 crore in total revenue, the highest in the shipyard’s history. The state-run defence shipbuilder crossed the ₹4,000-crore revenue mark as it accelerated vessel deliveries to the Indian Armed Forces and expanded its international business.
GSL increased its revenue from operations by 32% to ₹3,764 crore during the year. The company also improved its profitability, with EBITDA rising from ₹460 crore in FY 2024–25 to ₹522 crore in FY 2025–26.
Profit before tax grew 17% year-on-year to ₹442 crore, while the shipyard’s net worth reached an all-time high of ₹1,936 crore. These results reflect the company’s continued growth in defence shipbuilding and project execution.
Read Also: Goa Moves to Revive Sanjivani Sugar Factory With ₹130 Crore Redevelopment
Strong Order Book Supports Future Growth
GSL ended the financial year with an order book worth more than ₹13,000 crore as of March 31. The company expects its order pipeline to expand to around ₹32,400 crore after the formal signing of an upcoming high-value naval contract.
The strong pipeline provides greater visibility for future shipbuilding projects and supports continued activity at the Goa shipyard.
Key Defence Deliveries
GSL continued to deliver major platforms for India’s maritime security requirements. The shipyard launched the first next-generation offshore patrol vessel (NGOPV) for the Indian Navy on March 3 and continued work on advanced stealth frigates.
For the Indian Coast Guard, GSL delivered the first pollution control vessel, ICGS Samudra Pratap, on December 23. It also delivered six fast patrol vessels between June 2025 and August 2026.
The shipyard further strengthened its international presence by designing and constructing the fast patrol vessel LESPWAR, which was handed over to the Seychelles Coast Guard on June 27.
Exports and International Business Expand
GSL’s export business recorded strong growth during the year. Export turnover increased 55% to ₹127 crore in FY 2025–26.
The shipyard 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 client. These projects expanded GSL’s presence in the international shipbuilding market.
GSL also invested ₹8.6 crore in CSR initiatives during FY 2025–26. The programmes covered healthcare, education, sanitation, women’s empowerment and livelihood development.
Read Also: Governance at Your Fingertips: Goa is Transforming Tourism & Public Services via WhatsApp AI
