Kolkata. Garden Reach Shipbuilders & Engineers Limited (GRSE), one of the leading warship builders in the country has announced its financial results for the first quarter ended June 30, 2024.
Highlights of Financial Performance Q1FY25
- Total Income for the Q1FY25 stood at Rs. 1084 Crore against Rs. 827 Crore in Q1FY 24 with growth of 31% (Y-o-Y).
- Revenue from Operation has increased to Rs. 1010 Crore in Q1FY25 from Rs. 756 Crore in Q1FY24, registering a growth of 34 % (Y-o-Y).
- The Earnings before Interest, Tax, Depreciation and Amortization stands at Rs. 130 Crore in Q1FY25, as against Rs 117 Crore in Q1FY24, with an increase of 11%.
- Profit Before Tax (PBT) is Rs. 115 Crore for Q1FY25 as compared to Rs 102 Crore in Q1FY24, registering a growth of 13 % (Y-o-Y)
- Profit After Tax (PAT) is Rs. 87 Crore in Q1FY25 as against Rs. 77 Crore in Q1FY24, registering a growth of 13 % (Y-o-Y).
Commenting on the results, Cmde Hari PR, IN (Retd) Chairman and Managing Director, Garden Reach Shipbuilders & Engineers Limited said, “The shipyard is on a growth trajectory and the Q1 FY25 financial results have been very encouraging. Considering our current order book and the project execution plan, I am confident of maintaining this upward trend in the coming years.”
Garden Reach Shipbuilders & Engineers Ltd., has the distinction of becoming the first shipyard of independent India to build a warship for Indian Navy, the Seaward Defence Boat (SDB) INS Ajay, way back in 1961. GRSE also built the first ever Indian Export Warship “CGS Barracuda” for Govt. of Mauritius, a Fast Patrol Vessel “SCG PS Zoroaster” for Seychelles and an Ocean-Going Cargo & Passenger Ferry Vessel “MV Ma Lisha” for Cooperative Republic of Guyana.
The shipyard was conferred the status of a Miniratna Category I Company in 2006. GRSE has built over 790 platforms including 109 warships for Indian Navy, Indian Coast Guard, and friendly foreign countries – highest warships built & delivered by any Indian shipyard till date. From Frigates, Corvettes, Fleet Tankers, Landing Ship Tank, Landing Craft Utility to Survey Vessels, Offshore Patrol Vessels and Fast Attack Craft – the repertoire is rich and varied. In addition to shipbuilding & ship repair, GRSE is also engaged in engine production and other engineering activities.
The engineering division manufactures deck machinery items, pre-fabricated portable steel bridges and marine pumps. Noteworthy accolades include Defence Minister Award 2022 in Designing the most silent ship for Indian Navy for ASW operation, Defence Minister’s Award for Excellence for In-house Design Effort for Offshore Patrol Vessel for Government of Mauritius, CGS Barracuda, Best Performing Defence Shipyard of India for four years in a row.
GRSE embraced infrastructure modernisation over past decades and can undertake concurrent construction of 20 ships at a time. Team of highly skilled design engineers and state of art VR Lab & latest software aid in the in-house design capabilities. With proven credentials, the shipyard is on a growth path, reaffirming its motto “In Pursuit of Excellence and Quality in Shipbuilding.”
