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Goa Shipyard ₹2,675 ▲ 0.0% 1M
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Goa Shipyard Unlisted Shares

Defence Warship and defence shipbuilding

Goa Shipyard Limited is a Ministry of Defence shipbuilder that designs and builds frigates, offshore patrol vessels, fast patrol boats and other vessels for the Indian Navy, Coast Guard and Army. Its revenue from operations was ₹3,764 crore in FY26.

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Indicative price
As of 23 Oct 2026
₹2,675 ▲ 0.00% in 1 month
Dealer quotes: ₹2,600 – ₹2,675 across 3 dealers
Key facts

Goa Shipyard share details

Lot size
100 shares
Min. investment
₹267,500
Face value
₹5
Implied market cap
₹31,138 Cr
Shares outstanding
116,403,748
Headquarters
Vasco-da-Gama, Goa
Website
goashipyard.in
ISIN
INE178Z01013
CIN
U63032GA1967GOI000077
Lock-in after IPO
6 months
Price history

Goa Shipyard share price chart

1Y change
-30.52%
High
₹3,850
Low
₹2,675

Indicative off-market dealer quotes, not exchange prices. A flat stretch means the quote did not change on those days.

About

About Goa Shipyard

Goa Shipyard Limited (GSL) is a central public sector enterprise under the Ministry of Defence, Government of India. It designs and builds warships and other vessels, repairs ships and does specialised engineering work. Its portfolio includes next generation frigates, offshore patrol vessels, fast patrol vessels, pollution control vessels, a floating dock and a dredger. The yard is based at Vasco-da-Gama, Goa. It is a Miniratna Category-1 company and was recently given Schedule 'A' status. Its main customers are Indian defence forces. In FY26 it signed a ₹127 crore contract for 10 patrol boats for the Indian Army. Its order book stood at ₹13,126 crore on 31 March 2026. The company says a major Indian Navy contract is in the final stages of conclusion and, once signed, the order book will go above ₹32,400 crore. On the numbers, revenue from operations rose to ₹3,764 crore in FY26 and profit after tax was ₹331 crore, per the annual report. The figures here are as printed in its standalone financial statements. The company has no borrowings and paid a dividend of ₹8.55 per equity share, which is 171% of paid-up share capital. Ownership is concentrated. The President of India holds 51.09% of the equity shares and Mazagon Dock Shipbuilders Ltd. holds 47.21%. The company has 11,64,03,748 equity shares of ₹5 each. Goa Shipyard has not filed a DRHP with SEBI and is not listed on any stock exchange. Its shares trade off-market through unlisted share dealers, so the price on this page is indicative at ₹2,675 per share and not an exchange price. At that price the implied market cap is about ₹31,138 crore. These are facts, not a recommendation to buy or sell.

Strengths

  • Revenue from operations grew to ₹3,76,430.20 lakh in FY26 from ₹2,85,060.20 lakh in FY25, and profit for the year rose to ₹33,144.63 lakh from ₹28,843.64 lakh.
  • The order book stood at ₹13,126 crore on 31 March 2026, which gives the yard work to execute over the coming years. The company expects it to exceed ₹32,400 crore once a major Navy contract is signed.
  • The balance sheet carries no borrowings, and total equity was ₹1,93,655.98 lakh on 31 March 2026 against ₹1,62,058.09 lakh a year earlier.
  • Earnings per share improved to ₹28.47 in FY26 from ₹24.78 in FY25, and book value per share rose to ₹166.33 from ₹139.18.
  • The company is a Miniratna Category-1 CPSE under the Ministry of Defence with Schedule 'A' status, and the Government of India holds 51.09% of the shares.
  • Cash and bank balances remained large at ₹60,097.34 lakh in cash and cash equivalents plus ₹1,14,867.73 lakh in other bank balances on 31 March 2026.

Risks

  • Customers are mainly Indian defence agencies, so revenue depends on government budgets, contract timing and approvals.
  • Net cash from operating activities was negative at ₹(2,30,115.99) lakh in FY26 and ₹(72,377.92) lakh in FY25, even though the company reported profits. Cash flow swings with milestone payments on large contracts.
  • Contract liability, which mostly holds customer advances, fell to ₹2,45,881.39 lakh from ₹4,17,348.78 lakh, while inventories rose to ₹1,91,763.37 lakh from ₹71,741.26 lakh. Working capital moves a lot from year to year.
  • Other income was ₹24,010.44 lakh in FY26 against ₹33,950.40 lakh in FY25, so a good part of pre-tax profit of ₹44,228.31 lakh came from non-operating income such as interest on deposits.
  • Revenue growth is lumpy because it follows the stage of shipbuilding projects, and the annual report shows revenue of ₹86,943 lakh in FY23 against ₹1,75,256 lakh in FY24.
  • Two shareholders hold 98.30% of the equity between them, so the free float for any future listing would be small unless shares are sold down.
  • The annual report says the company had no woman director during FY26 as required under the Companies Act, and had no independent directors from 01 April to 20 April 2025.
  • Unlisted shares trade off-market at indicative prices, with limited liquidity and no exchange price discovery. The company has not filed a DRHP.
Financials

Goa Shipyard financial performance

Revenue, profit and balance-sheet figures by fiscal year.

Revenue & PAT (₹ Cr)
Revenue PAT
Metric FY26Latest FY25
Revenue (₹ Cr) 3,764 2,851
PAT (₹ Cr) 331 288
PAT Margin (%) 8.81 10.12
RoNW (%) 17.12 17.80
EPS (₹) 28.47 24.78
Book Value (₹) 166.33 139.18
Total Assets (₹ Cr) 6,786 7,356
Net Worth (₹ Cr) 1,937 1,621

Swipe the table sideways for earlier years →

Leadership

Management team

Brajesh Kumar Upadhyay
Chairman & Managing Director
Chairman and Managing Director who signed the FY26 financial statements.
Jahangeer Alam Ansari
Director (Finance) & CFO
Director (Finance) since 29 Nov 2025 and Chief Financial Officer since 24 Jan 2026.
Chhaya Jain
Company Secretary
Company Secretary who signed the FY26 financial statements.
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FAQs

Goa Shipyard unlisted shares: common questions

Important disclaimer

Unlisted shares are not traded on stock exchanges. Prices shown are indicative and based on off-market transactions; they may differ from eventual listing or future market prices. Exit liquidity depends on counter-party availability. SEBI mandates a 6-month lock-in on pre-IPO shares post-listing. Gains held beyond 24 months are taxed at 12.5% LTCG (no indexation). IPO Guru is not a SEBI Registered Investment Advisor. Information here is for general awareness, not personalised investment advice. Please consult your tax advisor before investing.

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