Warship maker GRSE net profit up 19 per cent in 2018-19

Warship builder for Indian Navy and Coast Guard Garden Reach Shipbuilders & Engineers (GRSE) on Thursday reported a growth of 19 per cent at 109.93 crore in its net profit in 2018-19 as compared to Rs 92.40 crore in the corresponding previous year.

The company earned revenue from operations of Rs 1,386.43 crore in 2018-19 against 1349.66 crore in the corresponding last year, registered a growth of 2.74 per cent, GRSE said in a statement.

The company reported Earnings before Interest, Tax, Depreciation and Amortization (EBITDA) of Rs 211.16 crore 29 per cent increased in FY19 as against Rs 164.39 crore in FY18.

The Board of Directors of the company has recommended a dividend of Rs 5.10 per equity share of Rs 10 each. This dividend is in addition to the interim dividend of Rs 1.85 per equity share paid for the financial year.          

The company has recently signed a contract for eight ASW-Shallow Water Craft for the Indian Navy with order value of Rs 6,311 crore. This new order has taken the book order position of the company to a level of more than Rs 27,500 crores as of date.

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