GRSE Announces Interim Dividend Following Strong FY25 Financial Performance
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Synopsis
On March 31, GRSE Ltd declared an interim dividend of 89.5% for FY25, up from 79% in FY24, alongside achieving a record turnover of Rs 4,750 crore. This marks a significant milestone in the company's history and includes various successful project completions.
Key Takeaways
- Interim Dividend: GRSE declares 89.5% for FY25.
- Record Turnover: Achieved Rs 4,750 crore in FY25.
- INS Nirdeshak: Commissioned as the 110th warship.
- International Orders: Secured US$ 108 million for cargo vessels.
- Strategic MoUs: Signed multiple agreements for modular bridges.
Kolkata, March 31 (NationPress) Garden Reach Shipbuilders and Engineers (GRSE) Ltd has announced an interim dividend of 89.5% of paid-up share capital for FY25, an increase from 79% in FY24. The shipbuilding company, which operates as a PSU under the Ministry of Defence, has achieved a record annual turnover of Rs 4,750 crore (provisional and unaudited) in FY25, marking the highest in its 64-year history.
"The year FY25 has been extraordinary for GRSE. The company was awarded the Schedule ‘A’ Miniratna status, recognizing its operational excellence and robust financial performance. Additionally, INS Nirdeshak was commissioned, the second vessel in a series of four Survey Vessels (Large) for the Indian Navy. This delivery marked the 110th warship handed over by GRSE to Indian maritime security forces, a feat unmatched by any other shipyard. The INS Nirdeshak and its predecessor, INS Sandhayak, are the largest survey vessels constructed in India for the Navy," stated a senior official at GRSE.
Furthermore, GRSE delivered the Next Generation Electric Ferry ‘Dheu’ to the West Bengal government and the Unmanned Surface Vessel (USV) ‘Jaldoot’ to DRDO’s Naval Science & Technological Laboratory (NSTL). Dheu is recognized as the largest ferry of its kind built in India.
"GRSE has also solidified its position in specialized vessel construction by winning significant contracts, including a Rs 490 crore deal with the Naval Physical and Oceanographic Laboratory (NPOL) for an Acoustic Research Ship (ARS), an Rs 840 crore agreement with NCPOR for an Ocean Research Vessel, and a contract with the West Bengal government for the construction of 13 hybrid ferries. The company has expanded its international presence by securing an order for eight multi-purpose cargo vessels from a German firm, valued at approximately US$ 108 million," the official added.
Additionally, GRSE accomplished the Contractor Sea Trial (CST) for INS Himgiri, the first of three Advanced Guided Missile Frigates being constructed for the Navy under Project 17 Alpha. These 6,670-ton warships represent the largest frigates ever built in India, with the Indian Navy never having operated frigates of this size.
According to the official, GRSE entered into several strategic Memorandums of Understanding (MoUs) in FY25, including agreements with the Indian Army for a 130-feet Single Lane Modular Bridge in Arunachal Pradesh, with the PWD of Nagaland for Modular Steel Bridges, and with the NHIDCL for the provision of Double Lane Modular Bridges.
