Goa Shipyard Limited has released its financials for FY24

06 September 2024

Goa Shipyard Limited has experienced exceptional growth in FY24, doubling its revenue and achieving a 76% rise in both PAT and EPS. The moderate increases in total assets and equity suggest the company has focused on leveraging its existing resources efficiently while maintaining profitability. Let's take a look at its performance:

1. Revenue & PAT: The company has doubled its revenue compared to the previous year, indicating a significant expansion in business operations or an increase in demand for its shipbuilding and defense services. With a 100% growth the company's revenue was reported at ₹2090.84 Cr. in FY24 as compared to ₹1045.80 Cr. in FY23. Similarly, PAT has grown by 76% from ₹154.54 Cr. in FY23 to ₹271.32 Cr. in FY24, suggesting that the company has managed to convert much of its increased revenue into profit.

2. Earnings Per Share: EPS has also increased by 76%, in line with the growth in PAT. The EPS was reported at ₹23.31 in FY24 compared to ₹13.28 in FY23 respectively. This is beneficial for shareholders, as it reflects the value generated per share. The significant increase in EPS suggests strong returns for investors.

3. Assets and Equity: The growth in total assets is modest (~ 16%) compared to the significant increase in revenue and profits. Total value of assets were reported at ₹7113.62 Cr. in FY24 as compared to ₹6131.18 Cr. in FY23 respectively. This suggests that the company has been able to generate higher returns without drastically increasing its asset base, showing effective asset utilization. On the other hand, the 15% increase in equity indicates that the company is strengthening its financial position, through retained earnings. Equity value of the company stood at ₹1437.89 Cr. in FY24 as compared to ₹1246.86 Cr. in FY23 respectively.

This overall strong performance positions the company well for future growth and shareholder value creation.