GRSE Revenues Soaring: 74% increase over H1 of FY 22

GRSE Revenues Soaring: 74% increase over H1 of FY 22
GRSE Revenues Soaring: 74% increase over H1 of FY 22

Kolkata, 10 Nov 2022: Garden Reach Shipbuilders & Engineers Limited (GRSE), one of the leading warship builders in the country announced its financial results for the second quarter and Half Year ended September 30th, 2022.

Highlights for H1 FY 2022-23

• Revenue from Operations: Rs. 1,262 Cr, an increase of 74 % over H1 of FY 22.

• EBITDA during the period stood at Rs. 163 Cr, up by 31% over H1 of FY 22.

• EBITDA margin during H1 of FY 23 stood at 12%.

• Profit Before Tax (PBT), Rs. 143 Cr, an increase of 32% over H1 FY 22. 

• Profit After Tax (PAT) stood at Rs. 109 Cr, increase of 37% over H1 FY 22.

• Return on Investment registered a growth of 23% over H1 FY 22.

• Earnings per share, Rs. 9.51 for H1 of FY 23, an increase of 37% over H1 of FY 22.

Q2FY23 Compared with Q1FY23:

Revenue from operation is Rs. 682 Cr in Q2FY23 as against Rs. 580 Cr of Q1FY23, an increase of 18%.

The Company’s EBITDA stood at Rs.89 Cr as against Rs. 74 Cr in previous quarter.

Profit Before Tax (PBT) stood at Rs. 79 Cr for Q2FY23 as against Rs. 64 Cr in Q1FY23 an increase of 23% over previous quarter.

Profit After Tax (PAT) stood at Rs. 59 Cr for Q2FY23 an increase of 17% over previous quarter.

Earnings per share (EPS) for the quarter ended Q2FY23 stood at Rs. 5.13 against Rs. 4.38 in Q1FY23.

Commenting on the results, Cmde Hari PR, IN (Retd) Chairman and Managing Director, Garden Reach Shipbuilders & Engineers Limited said, “H1 of FY 23 has been upbeat with the Revenue from Operations soaring with an increase of 74% over H1 last year. Major production milestones have been achieved during the last six months with mega ship launches including 2nd P17A Advanced Frigate Dunagiri.

GRSE has also been conferred with the coveted Green Channel Certification for Supply of Bailey Type Portable Bridges. Further, being the only PSU Shipyard to receive the Raksha Mantri’s Award 2022 for Excellence in Defence & Aerospace Sector at Defexpo 22, has been a great motivator and continuous focus & thrust on maintaining timelines and quality along with clear strategies to improve internal efficiencies at the shipyard gives us the confidence of achieving greater heights both in terms of physical & financial performance, in times to come.