Shares of Garden Reach Shipbuilders & Engineers (GRSE) jumped nearly 5% on Monday after the defence PSU was conferred the coveted 'Navratna' status by the Department of Public Enterprises.GRSE shares jumped to Rs 2,934.70 apiece on the NSE, the highest level seen by the stock in more than one month.“Garden Reach Shipbuilders and Engineers (GRSE) was accorded Navratna status by the Department of Public Enterprises, Ministry of Finance, Government of India, on Friday, June 19, 2026, signifying a monumental milestone in the shipyard’s journey,” the company said in an exchange filing on Saturday, adding that this was in recognition of the shipyard's consistent financial and physical performance over the years.Also read: India's warship-building capability gaining new speed in modern technology, says Navy ChiefWhat Navratna status means for GRSE?Navratna status allows public sector enterprises to make larger investments, enhancing their ability to expand operations, the company added. The Navratna status comes at a time when the shipyard is in an expansion mode, GRSE said, adding that it has embarked on a mission to increase capacity through both brownfield and greenfield projects.The Kolkata-based warship-maker's revenue from operations has grown from Rs 1,754 crore in 2021-22 to Rs 7,002 crore in 2025-26, marking an increase of nearly 300%. During the same period, profit after tax rose from Rs 190 crore to Rs 748 crore, reflecting nearly 294% growth.Speaking about the development, GRSE Chairman and Managing Director PR Hari said it is a “defining moment in GRSE's journey and a matter of immense pride” for every member of the company.Also read: Warship-maker GRSE conferred 'Navratna' status; defining moment for company, says CMD“This recognition reflects the confidence reposed in us and acknowledges the dedication, commitment and professionalism of our employees, past and present. This elevation will further empower us to pursue strategic opportunities, enhance self-reliance in defence manufacturing, strengthen our global competitiveness and contribute meaningfully towards the vision of Aatmanirbhar Bharat and India's emergence as a leading maritime power by 2047,” he added.GRSE share priceGRSE shares have jumped more than 8% in one week and 7% in one month. The stock has gained over 18% in 2026 so far, but fallen over 12% in one year.In the longer term, the stock has delivered 400% returns over three years and a whopping 1,328% in five years. The company has a market capitalisation of more than Rs 33,018 crore.Also read: Indian Navy commissions three indigenously built warships - Dunagiri, Sanshodhak, and Agray(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)