- The company achieves 100 per cent growth in gross revenue, surpassing the Rs 2,000 crore mark for the first time during the fiscal: Chairman and Managing Director Brajesh Kumar Upadhyay
- GSL has successfully secured an international order to build a Next Generation Trailing Suction Hopper Dredger for Luxembourg-based Jan De Nul Group
- In line with the government’s “Makein India’ and ‘Atmanirbhar Bharat’ initiatives, GSL has been adopting advanced technologies such as AI in defense platforms
NE BUSINESS BUREAU
AHMEDABAD, SEPT 26
Goa Shipyard Ltd (GSL) has achieved the highest-ever revenue from operation of Rs 1,753 crore in FY24, a top company official said on Wednesday.
Addressing the 58th annual general meeting of GSL, Chairman and Managing Director Brajesh Kumar Upadhyay said the company has achieved a remarkable growth and significantly outperformed its past achievements on all financial parameters.
He said the company achieved 100 per cent growth in gross revenue, surpassing the Rs 2,000 crore mark for the first time during the fiscal.
The CMD said the company has achieved record revenue from operations of Rs 1,753 crore, representing 102 per cent growth year-on-year. Profit before tax was 78 per cent higher at Rs 365 crore. Profit after tax stood at Rs 271 crore compared to Rs 155 crore last year.
He stated that the order book stood at Rs 18,562 crore as on March 31, 2024, giving stable revenue visibility for the coming years.
Upadhyay said the earnings per share jumped 76 per cent from Rs 13.28 to Rs 23.31 in FY24.
Profit Before Tax (PBT) stood at Rs 365 crore, up by 78%, while Profit After Tax (PAT) surged to Rs 271 crore, compared to Rs 155 crore in the last fiscal year.
At the AGM, a final dividend of Rs 2 per share for FY24 was declared, which is in addition to the interim dividend of Rs 5 per share declared during the year.
The total dividend translates to an outflow of Rs 81.48 crore as against Rs 62.86 crore last year.
It is currently executing a record 22 projects, a company first. These include two advanced frigates and seven Next Generation Offshore Patrol Vessels (NGOPVs) for the Indian Navy, two Pollution Control Vessels (PCVs), and eight Fast Patrol Vessels (FPVs) for the Indian Coast Guard. Additionally, GSL is constructing a Floating Dry Dock for the Sri Lankan Navy.
The launch of significant vessels such as the frigate INS Triput in July 2024 and the PCV ICGS Samudra Pratap in August 2024 mark key milestones in these ongoing projects. This expanded portfolio reflects GSL’s increasing capabilities and its focus on supporting national security through indigenous shipbuilding efforts.
GSL has successfully secured an international order to build a Next Generation Trailing Suction Hopper Dredger for Luxembourg-based Jan De Nul Group.
In line with the government’s “Makein India’ and ‘Atmanirbhar Bharat’ initiatives, GSL has been adopting advanced technologies such as AI in defense platforms. The shipyard’s diversification efforts are also visible in its delivery of specialized boats to the Indian Army and a damage control simulator to the Indian Navy ahead of schedule.
Established in 1957, GSL is a Defence Public Sector Undertaking (DPSU) that offers a wide spectrum of services to its customers. The services include designing and building of variety of vessels, repair and modernization of vessels and technology transfer.
