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Press Information Bureau
Government of India
Ministry of Defence
03-November-2010 18:04 IST
Goa Shipyard Ltd. Pays ` 13.38 Crores Dividend for 2009-10
Rear Admiral (Retd.) Vineet Bakhshi, Chaiman & Managing Director, Goa Shipyard Ltd (GSL) presented a dividend cheque of ` 13.38 crore to the Defence Minister Shri AK Antony here today, for the financial year 2009-10. GSL has declared a dividend of 90 percent of the paid-up share capital for 2009-10 as compared to 57 percent in the previous year. There has been a 70 percent growth in production and a 59 percent growth in net profit this year.

During the financial year 2009-10 the Company has achieved a Value of Production (VoP) of ` 866.48 crores and made a net profit of `130.72 crores. This is against a VoP of ` 508.01 crores with a net profit of ` 81.96 crores in the previous year. This is the highest VoP and net profit achieved by the company since its inception in 1957.

The Company continued to show all-round improvement in its operations as it had done in the last year and performed exceptionally well on all fronts. GSL has been consistently a profit making and dividend paying company, which also declared bonus shares twice in the past.

PK/SR