GRSE handovers Rs 12.38 crore as dividend to Centre

Kolkata, Oct 18 (UNI) Garden Reach Shipbuilders&Engineers Ltd Chairman&Managing Director Rear Admiral T S Ganesshan (Retd) today presented Rs 12.38 crores cheque towards dividend for the financial year 2005-06 to Defence Minister Pranab Mukherjeeon.

The payment of dividend to the Centre, as a testimony of continued good performance by GRSE over the years, which has resulted in earning the status of "Category-1 Miniratna" on September 5, 2006.

GRSE is the first Defence Shipyard to get this status.

GRSE has declared a record Profit Before Tax of Rs 101.27 crores . For the financial year 2005-06, the PAT, Value of production as well as number of ships launched and delivered is a record in the history of GRSE.

GRSE has now embarked upon sn ambitious expansion plan and has already acquired the Rajabagan Dockyard (RBD) as a first step in this direction.

The acquisition of RBD and modernisation would contribute significantly to the growing needs of the country's maritime security, especially the warships for the Indian Navy and the Coast Guard.

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