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 31st, 2023.
Highlights of Financial Performance FY 23
Company has achieved its best ever financial performance in FY 23.
Total Income for the FY 23 stood at Rs. 2,763 Crore against Rs.1916 Crore in FY 22 with growth of 44% over FY 22.
Revenue from Operation has increased to Rs. 2,561 Crore in FY 23 from Rs. 1,754 Crore in FY 22, registering a growth of 46 %.
The Earnings before Interest, Tax, Depreciation and Amortization stands at Rs. 351 Crore in FY23, as against Rs 294 Crore in FY 22, with an increase of 19%.
Profit Before Tax (PBT) is Rs. 305 Crore for FY 23 as compared to Rs 257 Crore in FY 22, registering a growth of 19%.
Profit After Tax (PAT) is Rs. 228 Crore in FY 23 as against Rs. 190 Crore in FY 22, registering a growth of 20%.
Earnings per share (EPS) for FY 23 is Rs. 19.91, against Rs. 16.55 in FY 22.
Company has declared interim dividend @ 62% of Paid-up Share Capital against 55% of previous year.
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Q4 FY23 Compared with Q4 FY22:
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%.
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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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