Kolkata. The performance of Garden Reach Shipbuilders & Engineers Limited (GRSE), a Government of India Undertaking under the Ministry of Defence (MoD) continued to be strong and the company’s revenue from operations stood at Rs. 1433.30 crore during the year 2019-20 as compared Rs. 1386.42 crore over the corresponding period in the previous year thus resulting in a percentage increase of 3.38 per cent.
The result was declared at GRSE’s 104th Annual General Meeting (AGM) held on September 11 through VC/OAVM. The Meeting was attended by Rear Admiral VK Saxena, IN (Retd), Chairman & Managing Director and other Directors, along with shareholders.
During the company AGM, the Board of Directors also recommended a final dividend of Rs. 1.40 per equity share of face value of Rs. 10 each for the financial year 2019-20. This is in addition to the interim dividend of Rs.5.74 per equity share of face value of Rs. 10 each, which was paid on March 30 this year.
The total dividend declared for the Financial Year 2019-20 is Rs.7.14 per equity share of face value of Rs.10 each. The order book position of the company as on March 31 stood at Rs. 26,544 cr with shipbuilding projects related Order Book Value of Rs. 26,281 cr. During the reported period the company delivered four warships, two for Indian Navy and two for Indian Coast Guard. This makes total number of warship delivered as 104 till the end of March 31, 2020.
Strengthening India’s defence preparedness has been GRSE’s core objective, focused on its core verticals of Shipbuilding, Engineering & Engine Production. The company delivered the 105th warship, FPV, ICGS Kanaklata Barua, to the Indian Coast Guard on June 9, being the only shipyard in the country to have delivered 105 warships.
With continuous focus on modernisation of infrastructure, GRSE has taken a strategic step to augment existing shipbuilding capacity. A state of the art underwater CNC Plasma Cutting Machine and a new Hull Block Fabrication Facility were inaugurated by Defence Minister Rajnath Singh at the RBD Unit of GRSE during Atmanirbhar Bharat Week on August 10.
GRSE’s diversification into Engineering has aided the land forces of the country and friendly foreign countries with the range of pre-fabricated steel bridges installed at high altitudes and for disaster relief. On August 13, the Defence Minister launched a “First of its Kind” Assault Bridge as part of the Atmanirbhar Bharat Week Event.
Rear Admiral V K Saxena, IN (Retd.), Chairman & Managing Director, in his address highlighted GRSE’s healthy order book and expressed his confidence in Team GRSE to emerge strong amid the uncertainties created by the global pandemic. On this occasion, CMD GRSE appreciated the hard work and dedication of all the employees in taking the company on its path of success and thanked the investors for their faith, commitment and confidence in the Shipyard.
The unstinted support from the Ministry of Defence, Indian Navy, Indian Coast Guard, Central and State Government Authorities has helped GRSE achieve its goals, he said. New initiatives including implementation of Industry 4.0 robotics, AI, machine learning, with sparked innovations in automation, GRSE is poised for workload consolidation across Design, Production & Supply Chain Management in the future to strive ahead on a growth path.
