Analysts/Institutional Investor Meet/Con. Call Updates

SECY/GRSE/BD-69/AM/01/26-27 11 Aug 2026 National Stock Exchange of India Limited, BSE Limited, Exchange Plaza, Phiroze Jeejeebhoy Towers, Bandra Kurla Complex, Bandra (E), Dalal Street Mumbai – 400 051 Mumbai – 400 001 Symbol: GRSE Scrip Code: 542011 Dear Sir / Madam, Sub: Transcript of Investors/Analyst Conference Call for Q1 of FY27 of GRSE – Reg 30 1. Further to our Intimation Letter No. SECY/GRSE/BD-69/AM/01/26-27 dated 03 Aug 2026, we wish to inform that Conference Call was held on Thursday, 06 August, 2026 at 03.30 P.M. to discuss the Unaudited Financial Results of the Company for the Quarter ended 30th June, 2026 and road ahead. 2. In this regard and pursuant to Regulation 30 read with Para A of Part A of Schedule III of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, the Transcript of the Investors/Analyst Conference Call for Q1 & FY 27 of the Company is enclosed herewith. 3. This is for your information and records. Thanking You, Yours faithfully, For Garden Reach Shipbuilders & Engineers Limited Sandeep Mahapatra Company Secretary and Compliance Officer ICSI Membership No. ACS 10992 Garden Reach Shipbuilders & Engineers Limited Q4 & FY26 Earnings Conference Call August 6th, 2026 Management: 1. Cmde P. R. Hari, Indian Navy Retired – Chairman and Managing Director 2. Shri Niranjan Bhalerao – Director (Finance) & CFO 3. Smt. Aparajita Ghosh – Chief General Manager (Finance) 4. Shri Sandeep Mahapatra – Company Secretary & Compliance Officer Page 1 of 18 Garden Reach Shipbuilders & Engineers Limited Q1 FY’27 Earnings Conference Call August 06, 2026 Moderator: Ladies and gentlemen, good afternoon and welcome to the conference call of Garden Reach Shipbuilders and Engineers Limited, arranged by Concept Investor Relations to discuss its Q1 FY27 Results. We have with us today, Management Representatives, Commodore P. R. Hari – Indian Navy, retired, Chairman and Managing Director, Shri Niranjan Mukund Bhalerao – Director (Finance) and CFO, Smt. Aparajita Ghosh – CGM (Finance), Shri Sandeep Mahapatra – Company Secretary and Compliance Officer. Please note that this conference will be recorded. I would now like to hand over the floor to Commodore P. R. Hari – Chairman and Managing Director. Thank you and over to you, sir. P. R. Hari: Thank you. Good afternoon, ladies and gentlemen, and a warm welcome to each one of you, to the conference call of Garden Reach Shipbuilders and Engineers Ltd. to discuss the results for the quarter ended 30th June 2026. With me here are Shri Niranjan Bhalerao – Director, Finance and Chief Finance Officer, Smt. Aparajita Ghosh – Chief General Manager (Finance) and Shri Sandeep Mahapatra – Company Secretary and Compliance Officer. During the next 15 to 20 minutes, I shall brief you on our financial and physical performance and also touch upon our current order book, the status of the ongoing project and the execution plan, a glimpse of our future outlook and the expansion plans of the Company. Quarter 1 Financial Year 2027 has again been an interesting quarter, and we have recorded a strong set of numbers. Our total income stood at ₹1,914 crore, recording a year-on-year growth of 38% when compared to Q1 FY26 results and the revenue from operations has increased from ₹1,310 crore to ₹1,815 crore recording a growth of 39%. The profit after tax has moved up by 44% from ₹ 120 crore to ₹173 crore during this period and the earnings per share has increased by 44% from ₹10.49 to ₹15.09. Now coming to the operational highlights, one of the defining milestones for GRSE during the year was being accorded the Navratna status by the Government of India, Department of Public Enterprises. This was accorded to us on 19 June 2026, and this prestigious recognition marks a significant Page 2 of 18 milestone in the Company's journey and reflects its constant and consistent financial and operational excellence over the years. Confirmation of Navratna status comes at a pivotal time as the shipyard is actively pursuing an ambitious expansion plan. The Company is undertaking both brownfield and greenfield capacity expansion initiatives to strengthen our shipbuilding capabilities, support future growth and enhance our ability to execute larger and more complex projects. GRSE built three ships INS Dunagiri that is the second P17A Alpha stealth frigate, INS Sanshodhak, the last of the four-Survey Vessel Large and INS Agrai, the fourth ship of the eight-ship Anti-Submarine Shallow Water Craft project, were commissioned into the Indian Navy by the Honorable Prime Minister of India Sri Narendra Modi at Kolkata on 21 June 2026. GRSE has also received a notification award for two projects, one from the Oil and Natural Gas Corporation (ONGC) for construction of four Platform Support Vessels (PSV) and from the Syama Prasad Mookerjee Port, Kolkata for a fully electric tug. Achieving L1 status in two projects of varying nature such as a Platform Support Vessel and an Electric Tug reflects our competitive positioning and reinforces our capabilities in these specialized fields. Our current order book stands at ₹13,596 crore and this comprises mostly of shipbuilding orders with shipbuilding divisions contributing to ₹13,296 crore and the other two divisions, the engineering and the engine divisions, contribute to the balance of the order book. I am happy to inform you that it is for the first time in the last 10 years that our order book has dropped below ₹15,000 crore and I consider it the reflection of an excellent execution rate. The current order book comprises 11 projects consisting of 44 marine platforms. These include nine warships for the Indian Navy, one P-17 Alpha advanced frigate, four Next-Generation Offshore Patrol Vessels, four Anti-Submarine Shallow Water Craft, two Coastal Research Vessels, one Acoustic Research ship. These orders for research ships, again, I am happy to inform you that we are the only Indian shipyard currently executing projects for construction of specialized research vessels. In addition, we are also constructing a 1,000-meter-cubed trailing suction hopper Dredger for the Government of Bangladesh, 13 electric ferries for the Government of West Bengal, 12 multipurpose vessels for a German client, one green tug, and four platform support vessels for which we have recently received orders. In total, 11 projects, 44 marine platforms. Coming to the status of these projects: The large ship of P-17 Alpha, again happy to inform you that the first two ships have been delivered ahead of schedule. The large ship has clocked nearly 85% physical progress of construction, and we intend to deliver the ship during this calendar year. By November, we should be able to deliver this ship. Four of the eight anti-submarine shallow water crafts have Page 3 of 18 already been delivered, and the balance of four ships shall be delivered during the current financial year. The fifth ship has achieved almost 91% physical progress of construction. The sixth ship very closely following with 88%. The seventh and eighth, around 65 to 70%. As I said, all four ships will be delivered during the current financial year. Coming to the third naval project: The next generation offshore petrol vessel, the first ship has already been launched, and the second ship is being launched on the 11th of this month, i.e. next week. The third and fourth ship would be launched during the third and 4th Quarter of the current financial year. These ships shall be delivered commencing Q2 FY28, the first ship and the last ship to be delivered during Q2 FY29. Coming to the research vessel: All the three projects physical construction have been started and the Ocean Research Vessel has touched a physical progress of about 20%. The Acoustic Research ship about 12% and the Coastal Research Vessel about 5%. The Coastal Research Vessel, the keel of this vessel shall be laid during September, which is an important project milestone. The ferry project for [Showing first 8,000 characters — download PDF for full document]