GRSE pays dividend of Rs 59.31 crore for FY 2018-19

Kolkata: Garden Reach Shipbuilders & Engineers (GRSE) Limited, a Kolkata based Miniratna PSU under the administrative control of the Ministry of Defence, has paid a dividend of Rs 59.31 crore to the government for the financial year 2018-19, on Monday. The dividend cheque was handed over to the Union Defence Minister Rajnath Singh by GRSE's Chairman & Managing Director (CMD) Rear Admiral VK Saxena IN (Retd.) in the presence of Special Secretary (Defence Production) Barun Mitra, Joint Secretary (Naval Systems) Dr Amit Sahai and GRSE's Director (Finance) SS Dogra.

GRSE has been consistent in paying the dividend to shareholders every year and has done so for the last 26 years

GRSE has been consistent in paying the dividend to shareholders every year and has done so for the last 26 years, an official statement said. The shipbuilding PSU has the distinction of being the only defence shipyard to have delivered more than 100 warships (103 warships as on date) since inception in 1960. GRSE has a strong order book position which stands at Rs 27,047 crore as on December 31, 2019.

GRSE's operational highlights

GRSE is currently executing six projects which includes the construction of 19 ships. Of these projects, five projects are for the Indian Navy and one project is for the Indian Coast Guard. As on December 31, 2019, the defence PSU's order book stands at Rs 27,047 crore, with shipbuilding project-related order book value at Rs 26,732 crore. The company has delivered five ships in total during the 10-month period from March 2019 till December 2019.