GSL REPORTS EXCELLENT PERFORMANCE

GSL REPORTS EXCELLENT PERFORMANCE

GOA: 51st Annual General Meeting of Goa Shipyard Limited was held on 26th September, 2017 wherein the Company adopted the Annual Accounts for FY 2016-17. The meeting was attended by members of the Board of Directors, shareholders and other senior functionaries of GSL. RAdm. Mital, Chairman & Managing Director reported yet again excellent all round results both on Operational and Financial fronts wherein VoP has jumped to Rs 1030 Crore (highest in the history of GSL) as against Rs 726 Crore in the previous year, an increase of 42% over the previous year. This is second highest VoP amongst DPSU shipyards. Similarly, Operating Profit has increased to Rs 131 Crore as against Rs 69 Crore in the previous year, a growth of 91% year on year. The Company has earned a Profit before Tax of Rs 177 Crore during FY 2016-17, highest in the last six years. The Company has achieved nearly 40% turnover from exports.These are best results achieved in the history of the Company.

RAdm Shekhar Mital, CMD said that the Company has been consistently performing well and informed that the Order Book position of the Company as of 31st March, 2017, stood at around Rs 3,298.29 Crore (approx). This includes orders of about Rs 666.56 Cr from exports and Rs 1870 Cr (approx) order for five CGOPV, which became effective in Aug 2016. 
 
Elaborating upon the business outlook, RAdm Mital stated that the Company's focus areas in the coming years would primarily be on timely completion of concurrent projects like SL OPVs, CG OPVs, NBC Training facility at Lonavla, 4 x 1000T Fuel Barges and other General Engineering projects.  
 

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