Maintaining the Upward Tempo - GRSE Revenue Surges Up:  Registers a Growth of 62% Over 9M FY 22

Garden Reach Shipbuilders & Engineers Limited (GRSE), one of the leading warship builders in the country has announceditsfinancial results for the thirdquarter and nine monthsended December 31^st, 2022.

1. Total income increases by Rs. 219 Cr as compared to corresponding previous quarter.
2. Revenue from operationis Rs. 699Crin Q3 FY23 as against Rs. 487CrduringQ3FY22, registering a growth of 44%.
3. Earnings Before Interest Tax Depreciation and Amortization (EBITDA) during Q3 of FY 23 is Rs. 97 Cr
4. Profit Before Tax (PBT) stood at Rs. 86Cr for Q3FY23.
5. Profit After Tax (PAT) stood at Rs.64Cr for Q3FY23.

Commenting on the results, Cmde Hari PR, IN (Retd) Chairman and Managing Director, Garden Reach Shipbuilders & Engineers Limited said,“We have maintained the momentum gained during the first two quarters of the current FY and have recorded the highest ever 9M revenue from operations and PBT/PAT in the history of our shipyard. This has been achieved through accomplishment of major production milestones including the ‘Ahead of Schedule’ delivery of a Fast Patrol Vessel to ICG, Technical Acceptance of an export vessel to Government of Guyana and two each warship launches & Keel Layings.”

During the quarter, GRSE’s endeavours were rewarded with the coveted Raksha Mantri’s Award 2022 for Excellence in Defence& Aerospace Sector at DefExpo 22 & PRSI National Awards 2022 in three different categories.