Garden Reach Shipbuilders and Engineers Ltd. Announces Impressive Interim Dividend and Continues Legacy of Excellence

 

New Delhi:    Garden Reach Shipbuilders and Engineers Ltd. (GRSE), a prominent Warship building Company under the Ministry of Defence, has declared an interim dividend of Rs 90.73 Crores for the fiscal year 2023-24, showcasing its commitment to shareholder value and financial stability.

The Interim Dividend Cheque, totaling Rs. 67.59 Crore, including the government’s share, was formally handed over to Raksha Mantri Rajnath Singh by Cmde P R Hari, IN (Retd), Chairman & Managing Director of GRSE Ltd., Kolkata. The event took place on March 1, 2024, in New Delhi, witnessed by Defence Secretary Shri Giridhar Aramane.

This marks a commendable increase from the previous fiscal year, with GRSE declaring an interim dividend of Rs. 7.92 per equity share of Rs.10 for FY 23-24, as compared to Rs.5.50 in FY 22-23. The company has consistently rewarded its shareholders, having paid dividends every year for the last 30 years, highlighting its financial robustness and steady growth.

As of December 31, 2023, GRSE boasts a robust order book position, standing at an impressive Rs 22,792.89 Crore. This reflects the continued trust and confidence placed in GRSE by various stakeholders and underlines its pivotal role in the defense and maritime sectors.

GRSE, a People Capability Maturity Model (PCMM) Level-2 Certified Company, has a storied history as the first shipyard in independent India to construct a warship for the Indian Navy, the Seaward Defence Boat (SDB) INS Ajay, dating back to 1961. The company has also achieved notable milestones, including building the first-ever Indian Export Warship “CGS Barracuda” for the Government of Mauritius, a Fast Patrol Vessel “SCG PS Zoroaster” for Seychelles, and an Ocean-Going Cargo & Passenger Ferry Vessel “MV Ma Lisha” for the Republic of Guyana.

Recognized as a Miniratna Category I Company in 2006, GRSE has an impressive track record, having constructed over 790 platforms, including 109 warships for the Indian Navy, Indian Coast Guard, and friendly foreign countries. This accolade positions GRSE as the shipyard with the highest number of warships built and delivered by any Indian shipyard to date.

In light of these accomplishments, GRSE continues to reinforce its commitment to excellence, innovation, and national security, setting new benchmarks in the maritime industry.