Goa Shipyard Limited (GSL) held its 60th Annual General Meeting (AGM) through Video Conferencing on Friday, 25 September 2026, chaired by Shri Brajesh Kumar Upadhyay, Chairman & Managing Director (CMD). The meeting was attended by the Directors, Company Secretary, Auditors and the Shareholders, during which the Audited Financial Statements for FY 2025-26 were adopted.
In his address, CMD Upadhyay stated that FY 2025-26 marked the exceptional year for the Company with strong operational performance, successful project deliveries, robust financial results and the continued expansion of the capabilities. He shared that FY 2025-26 represents not only a pivotal moment in GSL’s transformation journey, but also a profound achievement with the elevation from Schedule ‘B’ to Schedule ‘A’ CPSE status on 02 Mar 2026. This landmark achievement is not just a tribute to our past, but a powerful reaffirmation of our purpose – “Engineering a Stronger Maritime Future”.
CMD highlighted that GSL achieved record setting financial results as Revenue from Operations clocked at ₹3,764 Cr, 32% higher compared to previous year, and the Total Revenue surpassed the ₹4,000 Cr milestone, recording at ₹4,004 Cr. EBITDA rose to ₹522 Cr, as against ₹460 Cr; while PBT grew to ₹442 Cr, reported year-on-year growth of 17%. Driven by a strong profitability movement, the Net Worth reached an all-time high of ₹1,936 Cr, reflecting our sustained long-term financial stability. GSL has shown exponential growth in its financial parameters over the last five years as depicted below:
At the AGM, final dividend for FY 2025-26 @171% amounting to ₹8.55 per share was also declared compared to ₹7.65 per share for FY 2024-25. Earnings per share improved to ₹28.47, reinforcing GSL’s continuous focus on delivering strong shareholders returns.
CMD informed that the Company’s order book stood at over ₹13,000 Cr as on 31st Mar 2026 and upon signing of a high-value naval contract, it will reach approximately ₹32,400 Cr, providing a robust foundation for sustained growth and strong revenue visibility in the years ahead.
CMD informed that GSL maintained unprecedented shipbuilding momentum and outperformed across diverse operational profiles. The shipyard has made substantial progress on its ongoing projects – Frigates and Next Generation Offshore Patrol Vessels (NGOPV) for the Indian Navy, highlighted by successful launch of first NGOPV on 31 Mar 2026. FY 2025-26 was marked by several critical milestones and deliveries for the Coast Guard (ICG). Notably, the delivery of the first Pollution Control Vessel ‘ICGS Samudra Pratap’ to ICG on 23 Dec 2025, which was commissioned on 05 Jan 2026. Additionally, GSL also delivered four Fast Patrol Vessels to the ICG in quick succession on 26 Jun 2025, 17 Sep 2025 and 30 Nov 2025, and 31 Mar 2026; followed by delivery of next two vessels on 28 May 2026 and 25 Aug 2026.
Export business also gathered momentum during the year, with export turnover growing by remarkable 55% to ₹127 Cr. During the year, 4,000-tonne Floating Dry Dock for the Foreign Navy was launched and keel of a 2,000M³ Trailing Suction Hopper Dredger was laid for a European client. CMD informed that GSL achieved the historic moment of designing and building Fast Patrol Vessel LESPWAR, which was ceremoniously handed over to the Seychelles Coast Guard by the Hon’ble Prime Minister of India Shri Narendra Modi on 27 Jun 2026.
Shri Upadhyay further informed that, in alignment with the national mission of ‘Aatmanirbhar Bharat’ (Self-Reliant India), the Company’s concerted efforts have successfully resulted in maximizing the indigenous content in all the ongoing projects. In linewith Government directives, GSL actively prioritises and supports procurement from MSMEs and Startups, positioning them as vital pillars of our supply chain network. Furthermore, GSL invested ₹6.61 Cr across multiple facets of community welfare including healthcare, education, sanitation, women empowerment, livelihood development, as part of CSR activities.
CMD concluded by extending his gratitude to the Ministry of Defence, Central and State Government Authorities for their valuable guidance and sustained support. He also thanked all the shareholders, directors and employees for their unwavering support and co-operation.