Shares of GEE Limited hit the 20 percent upper circuit on Monday after the company said it had acted as the exclusive supplier of welding consumables for three indigenous Indian Navy warships commissioned earlier this month.
With a market capitalisation of around ₹500 crore, the stock was trading at ₹104 per share. It is valued at a price-to-earnings ratio of about 32 times.
GEE said it was the only supplier of welding consumables used in the construction of:
- INS Dunagiri
- INS Agray
- INS Sanshodhak
The three vessels were formally inducted into the Indian Navy on June 21, 2026, during a ceremony in Kolkata attended by Prime Minister Narendra Modi.
According to the company, this was the second tri-commissioning of frontline naval platforms in recent years.
Built by GRSE with over 75% indigenous content
All three ships were designed by the Indian Navy’s Warship Design Bureau and built by Garden Reach Shipbuilders & Engineers Ltd. (GRSE).
The vessels have indigenous content exceeding 75 percent.
Their roles include:
- INS Dunagiri: A Project 17A stealth frigate equipped with BrahMos and Barak-8 missiles for blue-water operations.
- INS Agray: An Arnala-class anti-submarine warfare shallow water craft designed for littoral operations and submarine hunting.
- INS Sanshodhak: An advanced survey vessel equipped with autonomous underwater vehicles and remotely operated vehicles for hydrographic missions.
Company highlights defence credentials
GEE said the order demonstrates the capability of its GWELD welding consumables to meet the structural and fabrication requirements of defence shipbuilding projects.
Commenting on the development, Umesh Agrawal, Joint Managing Director, said:
“Being able to supply critical welding consumables for three different naval platforms at a time, is a testament to the technical expertise and reliability of the company in supporting the strategic defence goals of India and is a step towards our commitment to the growing indigenous defence and shipbuilding ecosystem.”
Business profile
Based in Thane, GEE Limited has more than 65 years of experience in welding consumables manufacturing.
The company operates manufacturing facilities in:
- Kalyan
- Kolkata
Its total production capacity stands at 59,000 MT.
GEE supplies products to sectors such as:
- Defence
- Railways
- Shipbuilding
- Power
- Oil and gas
- Infrastructure
Its customer base includes:
- BHEL
- NTPC
- ONGC
- L&T
- Reliance
- Tata
- Adani
- Indian Railways
The company also has:
- A network of more than 500 dealers
- Exports to over 20 countries
- Approvals from DRDO, NPCIL and ADNOC
Financial performance
On a standalone basis for FY26:
- Revenue from operations rose to ₹369 crore from ₹334 crore in FY25.
- Operating profit increased to ₹33 crore.
- Operating margin expanded to 9 percent.
- Net profit stood at ₹13 crore, compared with a loss of ₹9 crore in FY25.
TL;DR:
GEE Limited shares hit the 20% upper circuit after the company said it was the sole supplier of welding consumables for three indigenous Indian Navy warships — INS Dunagiri, INS Agray and INS Sanshodhak — commissioned on June 21 in Kolkata.
AI summary:
- GEE shares locked in a 20% upper circuit.
- The company supplied welding consumables for three Indian Navy warships.
- The vessels were built by GRSE and commissioned on June 21.
- Indigenous content in the ships exceeds 75%.
- GEE reported revenue of ₹369 crore and net profit of ₹13 crore in FY26.
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