Garden Reach Shipbuilders & Engineers Limited has informed the Exchange that Board of Directors at its meeting held on May 13, 2025, recommended Final Dividend of Rs. 4.90 per equity share for the Financial Year 2024-25, subject to the approval of the shareholders at the ensuing Annual General Meeting (AGM) of the Company.
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On the reaction day the stock moved 14.0 pts more than Nifty Smallcap 250 and 12.5 pts more than its Aerospace & Defense peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.
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Garden Reach Shipbuilders & Engineers (GRSE) has reported audited results for FY25 along with a recommended final dividend of Rs. 4.90 per share, in addition to the Rs. 8.95 interim dividend already paid — taking the total dividend to Rs. 13.85 per share (138.5% of paid-up capital, up from 93.6% in FY24). The company posted its highest-ever revenue and profit: revenue from operations rose 41% year-on-year to Rs. 5,076 Crore, while profit after tax climbed 48% to Rs. 527 Crore. EPS for the year stood at Rs. 46.04, against Rs. 31.19 in FY24. Q4 alone saw revenue of Rs. 1,642 Crore (up 62% YoY) and PAT of Rs. 244 Crore (up 118% YoY). The final dividend is subject to shareholder approval at the 109th AGM and will be paid within 30 days. The auditor highlighted an emphasis of matter: a Rs. 100 Crore boost to FY25 profits came from a revised cost-to-completion estimate for the P17A frigate and NGOPV projects.
A sharp jump in earnings combined with a higher dividend payout (138.5% of capital vs 93.6% earlier) is a positive signal for shareholders, but a meaningful slice of the profit growth is driven by a one-time revision in project cost estimates rather than core operations, which investors should factor in.