Goa Shipyard reports record revenue of Rs 1,753 cr from operations in FY24

by Psu Connect
Date: 26-09-24
Ministry of Defence

The company achieved 100 percent growth in gross revenue, surpassing the Rs 2,000 crore mark for the first time during the fiscal.

Goa Shipyard reports record revenue of Rs 1,753 cr from operations in FY24

Goa Shipyard Ltd (GSL) has achieved its highest-ever revenue from operations of Rs 1,753 crore in FY24, as stated by the company's top official on Wednesday.

During the 58th annual general meeting of GSL, Chairman and Managing Director Brajesh Kumar Upadhyay mentioned that the company has shown remarkable growth and has significantly outperformed its past achievements on all financial parameters.

He said the company achieved 100 percent growth in gross revenue, surpassing the Rs 2,000 crore mark for the first time during the fiscal.

The CMD said the company has achieved record revenue from operations of Rs 1,753 crore, representing 102 percent growth year-on-year. Profit before tax was 78 percent higher at Rs 365 crore. Profit after tax stood at Rs 271 crore compared to Rs 155 crore last year.

He stated that the order book stood at Rs 18,562 crore as of Mar 31, 2024, giving stable revenue visibility for the coming years.

At the AGM, a final dividend of Rs 2 per share for FY24 was declared, which is in addition to the interim dividend of Rs 5 per share declared during the year.

The total dividend translates to an outflow of Rs 81.48 crore as against Rs 62.86 crore last year.