Garden Reach Shipbuilders and Engineers Limited (NSE: GRSE) has recommended a final dividend of ₹6.70 per equity share for the financial year 2025-26, subject to shareholder approval at the company's 110th Annual General Meeting. The announcement was made on 28 April 2026 and follows two interim dividends already paid during the fiscal year, bringing the total dividend payout for FY2025-26 to ₹19.60 per equity share.

Dividend Breakdown for FY2025-26

GRSE distributed its FY26 dividend across three tranches. The board declared a first interim dividend of ₹5.75 per share on 4 November 2025, followed by a second interim dividend of ₹7.15 per share on 28 January 2026, with the record date fixed at 3 February 2026. The second interim tranche alone amounted to approximately ₹81.90 crore, paid out of profits for the nine months ended 31 December 2025. The recommended final dividend of ₹6.70 per share completes the FY26 distribution cycle, pending AGM approval, and is payable within 30 days of shareholder declaration.

Year-on-Year Comparison and Dividend Trend

The FY26 total payout of ₹19.60 per share marks a significant jump of approximately 37% over FY2024-25, when the company paid a single final dividend of ₹4.90 per share. In FY2023-24, the total payout stood at ₹9.36 per share, comprising an interim dividend of ₹7.92 per share declared in February 2024 and a final dividend of ₹1.44 per share. Going further back, FY2022-23 saw a combined payout of ₹6.20 per share, consisting of an interim dividend of ₹5.50 and a final dividend of ₹0.70 per share.

The trajectory reflects a sharp acceleration in shareholder returns in FY26, reversing the contraction seen in FY25 when no interim dividend was declared.

Q1 FY27 Financial Results

Separately, the board met on 29 July 2026 and approved the unaudited financial results for the quarter ended 30 June 2026. The meeting commenced at 11:45 hours and concluded at 13:30 hours. The results were prepared in accordance with Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 and accompanied by a limited review report from the company's statutory auditors. Publications are being made in English, Hindi, and local daily newspapers.

Company Background

Garden Reach Shipbuilders and Engineers Limited is a Kolkata-based defence public sector undertaking operating under the Ministry of Defence. The company specialises in the construction of warships, naval vessels, and allied engineering products for the Indian Navy and Coast Guard. Its order book has expanded materially in recent years in line with the government's push for indigenous defence manufacturing under the Make in India initiative.

What This Means for Investors

The FY26 total dividend of ₹19.60 per share on a face value of ₹10 per share indicates a dividend payout ratio that has expanded substantially year over year. Investors holding GRSE shares on the respective record dates for each tranche would have received the interim payments already, with the final tranche of ₹6.70 per share pending AGM confirmation. The multi-tranche payout structure adopted in FY26, reinstating interim dividends after their absence in FY25, signals improved cash generation at the company level and a more active capital return policy. Investors should track the AGM date to confirm the final dividend record date and payment timeline.