GRSE holds its 106th AGM; Reports 24% growth in Profit during FY 21-22

GRSE recorded Total Income as on 31.03.22 is Rs. 1918 Cr. as against previous year of Rs. 1327 Cr., increased by Rs 591 Cr. registering a growth of 45%.

GRSE holds its 106th AGM; Reports 24% growth in Profit during FY 21-22

Kolkata: The 106th Annual General Meeting (AGM) of Garden Reach Shipbuilders & Engineers Limited (GRSE) was held on Monday 26 Sep 22 through VC/OAVM. The Meeting was attended by Cmde PR Hari, IN (Retd.), Chairman & Managing Director, GRSE, Shri R K Dash, Director (Finance), Cdr Shantanu Bose, IN (Retd), Director (Shipbuilding), Shri Sandeep Mahapatra, Company Secretary along with the Independent & Govt Nominee Directors and shareholders of the company.

The Company demonstrated a very strong performance during the year 2021- 22:

• Revenue from Operation as on 31.03.22 is Rs. 1758 Cr. as against previous year of Rs.1141 Cr., increased by Rs. 617 Cr. registering a growth of 54%.
• Total Income as on 31.03.22 is Rs. 1918 Cr. as against previous year of Rs. 1327 Cr., increased by Rs 591 Cr. registering a growth of 45%.
• Operating Profit as on 31.03.22 is Rs. 104 Cr. as against previous year of Rs.42 Cr., increased by Rs. 62 Cr. registering a growth of 147%
• Profit Before Tax (PBT) increased by Rs 50 Cr. registering a growth of 24%
• EBITDA increased by Rs 57 Cr. registering a growth of 24%
• Profit After Tax (PAT) increased by Rs 36 Cr., registering a growth of 24 %
• Earnings per share (EPS) increased by Rs 3.15 per share with a growth of 23.51%.

The total Dividend declared for the Financial Year 2021-22 is Rs. 5.80/- per equity share of face value of Rs.10/- each. 

On the Production performance, GRSE has met the project milestones despite the challenges of the pandemic. In December 2021, the first of four Survey Vessels (Large), ‘INS Sandhayak’, was launched at nearly 40% physical progress of construction. Further, the keel of the third P-17A ship for the Indian Navy was laid, and construction of all the three ships of this prestigious project is progressing smoothly.