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Riding on a Strong Order Book, GRSE Records Best Ever Financial Performance for FY 22-23

Defence Industry

Kolkata: Garden Reach Shipbuilders & Engineers Limited (GRSE), one of the leading warship builders in the country has announced its financial results for the last quarter and full year ended March 31, 2023.

The key highlights of GRSE’s Quarter 4 FY – 2023 financial performance compared with Quarter 4 FY – 2022 are:

  • Revenue from operation is Rs 601.17 Crore in Q4 FY23 as against Rs 543.18 Crore of previous year registering a growth of 10.68%.
  • The Company’s EBITDA stood at Rs 90.36 Crore in Q4 FY23 against Rs 73.70 Crore of previous year registering a growth of 22.62%.
  • Profit Before Tax (PBT) stood at Rs 76.30 Crore in Q4 FY23 against Rs 63.19 Crore of previous year registering a growth of 20.74%.
  • Profit After Tax (PAT) stood at Rs 55.30 Crore in Q4 FY23 against Rs 47.20 Crore of previous year registering a growth of 17.16%.

Commenting on the results, Cmde Hari PR, IN (Retd) Chairman and Managing Director, Garden Reach Shipbuilders & Engineers Limited said, “Our financial performance during FY 22-23, the best ever in the company’s history is credit to the resilience & resolve of Team GRSE, as the company continues to grow on financials & physical performance. Delivery of an export vessel to the Cooperative Republic of Guyana & a Fast Patrol Vessel to the Indian Coast Guard, both ahead of schedule, bear testimony to the operational efficiencies of the company. A strong order book coupled with a clear execution strategy promises continued growth in the coming years.”