GRSE Reports Net Profit of 58 Crore ( 18%), Capex Tripled

3 mins read  Sealuminati Team May 20, 2021

Tuesday ( 18th May): With a hike of nearly 18% profit in comparison to the stats of the previous year (INR 49 crore), the PSU shipbuilder Garden Reach Shipbuilders and Engineers Limited (GSRE), Kolkata, made a net profit of 58 crores. The profit was reported corresponding to the fourth quarter ended in March 202. The business reported to the stock exchanges that revenue for the period was Rs 399 crore, down from Rs 456 crore the previous quarter.

The company Garden Reach Shipbuilders & Engineers Ltd. was founded in 1934. The current share price is 184.2. It now has a market capitalization of Rs 2098.59 crore. The firm recorded gross sales of Rs. 14332.95 crores and a total income of Rs. 16587.95 crores in the most recent quarter. Ramesh Kumar Dash, Inderpaul Singh Bali, Sandeep Mahapatra, Biswapriya Roychoudhury, Surendra Prasad Yadav, Hari PR, Sanjeev Nayyar, and Vipin Kumar Saxena are listed as the profound business heads in the company's management.

It is traded on the BSE under the symbol 542011, the NSE under the symbol GRSE, and the ISIN is INE382Z01011. ACC Ltd is their Registrar. A Kayes & Co, GP Agrawal & Co, NK Poddar & Co, Sen & Ray are its auditors.

In the fiscal year 2018-19, the warship manufacturer declared a net profit of Rs 33.62 crore. Total income fell 5.51% to Rs 509.48 crore in the current quarter, compared to Rs 539.17 crore in the previous quarter. The COVID-19 pandemic has had the largest influence on the company's physical performance, which has continued to create, plan, and sell products despite the lockdown. The shipbuilder is working on projects that will take a long time to complete, and a catch-up strategy is being developed to compensate for the physical performance delays that happened during the lockdown. Despite a drop in revenue, defense PSU GRSE recorded a 48% increase in net profit to Rs 49.69 crore in the quarter ended March 2020.

The warship maker's full-year earnings fell to Rs 153 crore, compared to Rs 163 crore in 2020-21. For the fiscal year 2020-21, the firm declared a dividend of Rs 1.15 per share.

The cost of lost production hours and non-use of equipment and machinery in production shops for the fiscal year ended FY 21 has been estimated at Rs 20 crore, mostly owing to Covid interruptions. Meanwhile, CAPEX in FY21 has almost trebled to Rs 154 crore, up from Rs 52 crore the previous year.