Goa Shipyard logs record revenue of Rs 1,753 cr from operations in FY24

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 Mar 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.

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.

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.