Garden Reach Shipbuilders and Engineers (GRSE) has approved a capital expenditure outlay of Rs 2,896 crore to build a new greenfield shipyard at Raichak in West Bengal, as the state-owned shipbuilder moves to expand its capacity across naval and commercial segments.
The decision was taken at a meeting of GRSE's Board of Directors on September 21, 2026. The company disclosed the approval to the stock exchanges under Regulation 30 of the SEBI Listing Obligations and Disclosure Requirements Regulations, 2015.
According to the exchange filings, the proposed Raichak facility is part of GRSE's broader capacity expansion plan, which the company had disclosed in August.
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The greenfield shipyard is expected to add new infrastructure to the company's existing shipbuilding operations and support its ability to undertake a larger volume of orders.
GRSE said the investment will be aimed at enhancing its shipbuilding capacity for both naval and commercial requirements. The expansion comes as the company seeks to strengthen its manufacturing footprint and create additional capacity for future projects.
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GRSE Shares In Focus
Following the announcement, shares of the company are expected to remain in focus during the trading session on Tuesday. Before the capex plan was unveiled, the scrip settled at Rs 2,373, down 1.61% or Rs 38.80 from the previous close of Rs 2,411.80.
On a year-to-date basis, the stock is down 2.83%, whereas a negative return of 11.07% has been recorded over the past 12 months.
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