VASCO
The Goa Shipyard Limited (GSL) has reported that FY 2024-25 has been its strongest and best-ever performance in the company’s history, with record-breaking results surpassing all previous benchmarks.
The GSL held its 59th Annual General Meeting (AGM) virtually on Thursday, chaired by GSL CMD Brajesh Kumar Upadhyay. The meeting was attended by the directors, company secretary, auditors and shareholders, during which the Audited Financial Statements for FY 2024-25 were adopted.
In his address, Upadhyay highlighted that GSL achieved an exceptional 71% growth in Value of Production, which surged to Rs 2,801 crore alongside a 53% increase in Gross Revenue, which crossed the landmark threshold of Rs 3,000 crore for the first time and stood at Rs 3,190 crore. Profitability momentum also remained robust, with Profit Before Tax at Rs 379 crore and Profit After Tax at Rs 288 crore.
Export turnover also demonstrated stellar growth compared to the previous year. Earnings per share rose to Rs 24.78, underscoring company’s consistent track record of creating shareholder value.
At the AGM, a final dividend of Rs 1.00 per share was also declared, in addition to the interim dividend of Rs 6.65 per share already disbursed during the year. This brought the total dividend to Rs 7.65 per share, reflecting an increase to 153% of paid up share capital as against 140% in the previous year.
CMD informed that the company’s order book stood at over Rs 16,000 cr as on April 1, 2025, encompassing multiple prestigious projects for the Indian Navy, Indian Coast Guard, and international clients. He further revealed that GSL is on the verge of signing a landmark contract valued at around Rs 18,000 cr, with final price negotiations currently underway.
Upon conclusion, the company’s total order book is projected to expand to nearly Rs 34,000 cr - the highest in GSL’s history - securing long-term revenue visibility up to FY 2031-32.
Looking ahead, GSL is targeting sustained annual revenue growth driven by both defence and commercial segments. On the operational front, the CMD emphasised that FY 2024-25 was an unprecedented year of production milestones.
The GSL delivered the first LPG Cylinder Carrier to Lakshadweep Administration, launched both the advanced Frigates (P11356) and made significant headway in the construction of Next Generation Offshore Patrol Vessels (NGOPVs) for Indian Navy.
Projects for the Indian Coast Guard also advanced considerably, with the launch of two Pollution Control Vessels (PCVs) and six FPVs (out of eight), in quick succession, showcasing GSL’s capability to handle complex & concurrent shipbuilding programmes.
