The 52nd Annual General Meeting of Goa Shipyard Limited was held on September 17, 2018, during which the company adopted the annual accounts for Financial Year (FY) 2017-18.
The meeting was attended by members of the board of directors, shareholders and other senior functionaries of GSL. While addressing the members, Radm Shekhar Mital, Chairman and MD, informed that the company revenue has moved up by 32 per cent year over year, from ₹1102 crore in FY 2017 to ₹1452 Cr in FY 2018. While its operating profit rose to ₹252 crore from ₹131 crore in the previous year, registering a growth of 92 per cent year over year. Correspondingly, the value of production has moved up from ₹1030 crore in FY 2017 to ₹1343 crore in FY 2018. During FY 2018, the company’s profit before tax was tallied at ₹331 crore, a jump of 87 per cent over the previous year’s profit before tax of ₹177 crore.
Turnover per employee has moved up from ₹62 lakh in the previous year to ₹82 lakh in FY 2018. During the year, the company paid an interim dividend of ₹58.20 crore being 100 per cent on the paid-up share capital and further declared a final dividend of ₹66.93 crore being 115 per cent of the paid-up share capital of ₹58.20 crore. Mital also highlighted the company’s exhilarating performance in the past four years and its zeal to create new benchmarks in the industry