EBITDA improved by 22.62% to Rs 90.36 crore in Q4 FY23 from Rs 73.70 crore of previous year.

Profit before tax (PBT) stood at Rs 76.30 crore in Q4 FY23 as against Rs 63.19 crore in Q4 FY22, registering a growth of 20.74%.

The warship builder's PAT in FY23 increased by 20% YoY to Rs 228 crore. Revenue from operation for the period under review was Rs 2,561 crore, up 46% YoY.

Commenting on the results, Cmde Hari PR, IN (Retd), chairman and managing director, Garden Reach Shipbuilders & Engineers, said, "Delivery of an export vessel to the Cooperative Republic of Guyana & a Fast Patrol Vessel to the Indian Coast Guard, both ahead of schedule, bear testimony to the operational efficiencies of the company.

A strong order book coupled with a clear execution strategy promises continued growth in the coming years.”

The company's board has approved a final dividend of Rs 0.70 per share, in addition to interim dividend of Rs 5.50 per equity share paid, for the financial year 2022-23.

Separately, the company announced that it has entered into a contract with Indian Navy for supply of 10 in number 30 mm naval surface gun (NSG) with electro optical fire control system (EOFCS) and ammunition at a cost of Rs 248.51 crore.

Garden Reach Shipbuilders & Engineers is a premier shipyard of India, under the administrative control of the Ministry of Defence, Government of India. It builds warships for the Indian Navy & Indian Coast Guard. As on 31 December 2022, the Government of India held 74.50% stake in the company.

The scrip tumbled 4.81% to currently trade at Rs 459.05 on the BSE.