Goa Shipyard Limited Reports Record-Breaking FY 2024-25 Performance

Goa Shipyard Limited (GSL) announced its best-ever performance in FY 2024-25 at the company’s 59th Annual General Meeting (AGM), chaired virtually by Brajesh Kumar Upadhyay, Chairman & Managing Director.

The defence PSU registered historic financial results with 71% growth in Value of Production to ₹2,801 crore and 53% growth in Gross Revenue to ₹3,190 crore, crossing the ₹3,000 crore mark for the first time. Profit Before Tax stood at ₹379 crore while Profit After Tax reached ₹288 crore. Earnings per share surged to ₹24.78, and exports also showed significant year-on-year growth.

The Board declared a final dividend of ₹1.00 per share, taking the total dividend for FY 2024-25 to ₹7.65 per share (153% of paid-up share capital), compared to 140% in the previous year.

GSL’s order book stood at over ₹16,000 crore as of April 1, 2025, with contracts for the Indian Navy, Coast Guard, and overseas clients. Upadhyay revealed that a landmark ₹18,000 crore contract is nearing finalisation, which will expand the order book to nearly ₹34,000 crore—the highest in GSL’s history—ensuring revenue visibility until FY 2031-32.

On the operations front, FY 2024-25 saw multiple milestones, including:

• Delivery of the first LPG Cylinder Carrier to Lakshadweep Administration.

• Launch of advanced Frigates (P11356) and progress on Next Generation Offshore Patrol Vessels (NGOPVs).

• Launch of two Pollution Control Vessels and six Fast Patrol Vessels for the Coast Guard.

• Steady progress in exports, such as a Floating Dry Dock for a foreign navy and a Trailing Suction Hopper Dredger for a European client.

Reinforcing its commitment to self-reliance, GSL enhanced indigenous content, developed in-house designs for PCVs, FPVs, and NGOPVs, and advanced R&D in AI-driven monitoring, intelligent cable routing, modular hull design, and energy efficiency.

Concluding the AGM, Shri Upadhyay thanked the Ministry of Defence, shareholders, and stakeholders for their support, noting that GSL is well-positioned for sustainable growth in alignment with the national vision of Viksit Bharat 2047.