Goa Shipyard Ltd Achieves Record Revenue in FY24; Reports 102% Growth

Goa Shipyard Ltd (GSL) has achieved its highest-ever revenue, reaching Rs 1,753 crore in FY24, reflecting a 102% growth year-on-year. Profit before tax increased by 78% to Rs 365 crore, and earnings per share jumped 76%. The company declared a final dividend of Rs 2 per share.

Goa Shipyard Ltd (GSL) has reached unprecedented heights, achieving the highest-ever revenue from operations at Rs 1,753 crore in the fiscal year 2023-24, a top company official revealed on Wednesday.

During the 58th annual general meeting, Chairman and Managing Director Brajesh Kumar Upadhyay announced that the company not only achieved 100 per cent growth in gross revenue but also surpassed the Rs 2,000 crore mark for the first time in its history. This phenomenal growth translates to a 102 per cent year-on-year increase.

Further emphasizing its financial strength, the CMD highlighted that profit before tax surged by 78 per cent to Rs 365 crore, and profit after tax rose to Rs 271 crore from Rs 155 crore the previous year. The order book remains robust at Rs 18,562 crore as of March 31, 2024, ensuring stable revenue for future years. Earnings per share also saw a significant jump of 76 per cent. At the AGM, a final dividend of Rs 2 per share for FY24 was declared, culminating in a total dividend outflow of Rs 81.48 crore.

(With inputs from agencies.)