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.

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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.”

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