Kolkata, February 3, 2025 – Garden Reach Shipbuilders & Engineers Ltd. (GRSE), a government-owned shipbuilding company under the Ministry of Defence, announced its unaudited financial results for the quarter and nine months ended December 31, 2024. The company also declared an interim dividend of ₹8.95 per equity share, amounting to ₹102.52 crore, for the financial year 2024-25.
Key Financial Highlights (₹ in Lakh)
| Particulars | Q3 FY25 (Dec 2024) | Q2 FY25 (Sep 2024) | Q3 FY24 (Dec 2023) | 9M FY25 | 9M FY24 | YoY Change (9M) |
|---|---|---|---|---|---|---|
| Revenue from Operations | 1,27,100.76 | 1,15,292.39 | 92,309.78 | 3,43,365.20 | 2,57,691.53 | +33.2% |
| Total Income | 1,34,312.49 | 1,22,783.73 | 1,00,461.23 | 3,65,455.14 | 2,80,061.46 | +30.5% |
| Total Expenses | 1,20,936.37 | 1,09,730.42 | 88,594.05 | 3,27,481.48 | 2,47,251.19 | +32.4% |
| Profit Before Tax (PBT) | 13,376.12 | 13,053.31 | 11,867.18 | 37,973.66 | 32,810.27 | +15.7% |
| Net Profit | 9,818.55 | 9,777.39 | 8,825.32 | 28,315.45 | 24,567.20 | +15.3% |
| Earnings Per Share (EPS) (₹) | 8.57 | 8.54 | 7.70 | 24.72 | 21.45 | +15.2% |
Segment-Wise Performance & Key Ratios
- Debt-Equity Ratio: 0.004, reflecting a strong balance sheet.
- Net Worth: ₹1,94,092.10 lakh, up from ₹1,65,187.83 lakh in the previous year.
- Net Profit Margin: 8.25%, slightly lower than 9.53% in the previous year.
- Trade Receivables Turnover Ratio: 16.64 (annualized), indicating efficient collections.
Dividend Announcement & Record Date
The Board of Directors has declared an interim dividend of ₹8.95 per equity share, translating to ₹102.52 crore for shareholders. The record date for the dividend is set for February 7, 2025.Management Commentary
Cmde Hari PR, IN (Retd.), Chairman & Managing Director, stated: "GRSE has demonstrated robust performance with strong revenue growth and profitability. Our strategic initiatives in shipbuilding and defense production continue to drive our success. The declaration of an interim dividend underscores our commitment to delivering value to shareholders."Strategic Outlook
- Order Book Strength: GRSE continues to execute its strong order pipeline, ensuring long-term revenue visibility.
- Operational Efficiency: Improved cost management and execution efficiency have supported consistent profitability.
- Sector Growth: As a key player in India's defense shipbuilding sector, GRSE remains well-positioned to capitalize on government initiatives and increasing defense spending.