Garden Reach Signs Strategic MoU with Hindustan Shipyard, Strengthens Defence Shipbuilding Push

Garden Reach Shipbuilders & Engineers has signed a Memorandum of Understanding (MoU) with Hindustan Shipyard to form a consortium for a large-scale, strategically important national shipbuilding programme. Recently, the company also signed a ₹33 crore contract with the Ministry of External Affairs for the second refit of the Seychelles Coast Guard Ship PS Zoroaster. In January, it entered into another MoU with K2 Cranes & Components for design, development, and manufacture of marine, defence, and shipyard cranes. On the financial front, the company reported a 73.9% YoY jump in Q3FY26 consolidated net profit to ₹170.8 crore, while revenue surged 49.1% to ₹1,895.7 crore, reflecting strong execution momentum.