GOA SHIPYARD LIMITED UNLISTED SHARE
ABOUT GOA SHIPYARD LIMITED
GOA SHIPYARD LIMITED (‘GSL’) is a Government of India-owned defense public sector undertaking under the administrative control of the Ministry of Defence, Department of Defence Production. Goa Shipyard Limited is a Miniratna company. The company is engaged in the business of Shipbuilding, Ship Repair, and General Engineering Services for defense and commercial sectors.
The company’s shipyard is located at Vasco da Gama, Goa. Goa Shipyard Limited has completed the construction of dedicated infrastructure for the production of GRP vessels and set up separate facilities to support Ship Repair & General Engineering Services activities, as part of diversification. The company has set up a liaison office in Karwar, Karnataka to explore ship repair opportunities.
In the recent past, Goa Shipyard Limited has grown exponentially on diverse fronts offering end-to-end solutions for design, construction, and through-life support for defense platforms. The company has emerged as a leading shipbuilder in the Indian sub-continent, capable of indigenously designing and building with state-of-the-art high technology and sophisticated ships to cater to maritime security requirements of the country and its friendly neighbors.
Indian Navy, Indian Coast Guard, Oil and Natural Gas Commission, Government of Goa, and Government of Yemen are some of the prominent clients of Goa Shipyard Limited.
The delivered product range of Goa Shipyard Limited includes Offshore Patrol Vessels, Fast Patrol Vessels, Missile Crafts, Sail Training Ships, Tugs, Boats, Fishing Vessels, Passenger Vessels, etc. While, in the last 3 decades, the company has attained domain expertise in Offshore Patrol Vessels and Fast Attack Crafts, and now the Yard is upgrading and up-skilling to more advanced and complex platforms such as Frigates and Corvettes. The Shipyard has further diversified into the design and construction of Glass Reinforced Plastic (GRP) vessels, Hovercrafts, Damage Control Simulator (DCS), Survival at Sea Training Facility (SSTF), Shore Based Test Facility (SBTF), Stern Gear and Shafting equipment.
INCORPORATION DETAILS
CIN | U63032GA1967GOI000077 |
Registration Date | 29 September 1967 |
Category/Sub-category of the Company | Public Company |
Address of the Registered office and contact details | Vaddem House, Vaddem, Vasco-da-Gama, Goa - 403 802 Tel: (0832) 2512152 to 2512156, 2512359 (24 hours) |
Name, Address and Contact Details of Registrar and Transfer Agent, if any | PurvaSharegistry (India) Pvt. Ltd. 9 Shiv Shakti Ind. Estt., J R Boricha Marg, Lower Parel East, Mumbai- 400 011 Tel.: 2301 6761 / 2301 2518 Email: support@purvashare.com |
PRINCIPAL BUSINESS ACTIVITIES OF THE COMPANY
Name and Description of main products/services | NIC Code of the product/service | % to total turnover of the Company |
Ship Construction | 3011 | 86.87% |
Ship Repairs & General Engineering Services | 3315 | 13.13% |
BOARD OF DIRECTORS
Cmde B. B. Nagpal, NM, IN (Retd.) (Chairman & Managing Director)
Smt. Richa Misra (Government Nominee Director)
Shri T. N. Sudhakar (Director, Finance)
Capt. Jagmohan, IN (Retd.) (Director, CPP&BD)
Shri Brajesh Kumar Upadhyay (Director, Operations)
PARTICULARS OF SUBSIDIARY AND ASSOCIATE COMPANIES
GOA SHIPYARD LIMITED does not have any subsidiary or associate company.
GOA SHIPYARD LIMITED UNLISTED SHARE DETAILS
Total Available Shares: | 11,64,03,748 |
Face Value: | Rs. 5 Per Equity Share |
ISIN: | INE178Z01013 |
Pan No. | AAACG7569F |
Lot Size: | 100 |
Last Traded Price: | Rs.225 |
Market Cap: | Rs. 2619.08 Crore |
SHAREHOLDING PATTERN
(As on 31-03-2020)
SHAREHOLDER'S NAME | NUMBER OF SHARES | % OF TOTAL SHARES OF THE COMPANY |
President of India | 5,94,66,780 | 51.09% |
Mazagon Dock Shipbuilders Limited | 5,49,57,600 | 47.21% |
Vedanta Limited | 2,50,828 | 0.22% |
Others | 17,28,540 | 1.48% |
Total | 11,64,03,748 | 100.00% |
INDUSTRY OUTLOOK
The Indian defense sector has largely been dependent on imports for critical technologies and equipment. However, of late, the Government of India has made substantial progress in not only achieving self-reliance but also shedding the tag of the leading importer of defense products and has moved a step further to transcending into exports of defense equipment. Towards the same, the Government in its quest to boost indigenous defense manufacturing has taken substantive steps such as ease of licensing in defense, increased thrust on exports, accelerating the process of Acceptance of Necessity and RFPs, and encouraging private sector participation in defense production.
As per a published report, the Indian Navy’s perspective plan envisaged augmentation of its fleet size from the present 150 to 200 nos. by 2027. Indian Coast Guard is also on a similar expansion program, coherent with the policy of securing coastal territory. This expansion of maritime forces is expected to provide a spurt in the indigenous shipbuilding arena. Besides, the Government of India’s indigenization plan is also expected to give a fillip to the growth of ancillaries and generally improve the shipbuilding environment in the country.
In commercial shipbuilding, the requirements envisaged in Coastal and Inland Waterways transportation present the most promising segment. The new multi-modal freight terminal in Varanasi, being part of the Jal Marg Vikas project, marked the beginning of the government’s effort to resurrect the Ganga as a significant transportation artery. The Company has built a River Passenger Ferry for use in the inland waterways segment and thus making an inroad in this segment.
The use of new technologies, such as autonomous vessels, artificial intelligence (AI), and automation are the key drivers of the shipbuilding market across the globe. Additionally, the adoption of robotic technologies and Industry 4.0 technologies are likely to supplement the shipbuilding market in the near future. There is immense potential to forge strategic partnerships and convert India into a hub for defense shipbuilding exports and to offer maintenance support services to friendly foreign countries.
PROFIT & LOSS STATEMENT OF GOA SHIPYARD LIMITED (In Rs. Lakhs)
PARTICULARS | FY 2020 | FY 2019 | FY 2018 | FY 2017 |
Revenue from Operations | 93,127.02 | 90,561.30 | 1,37,342.88 | 1,05,544.69 |
EBITDA | 18,985.77 | 17,847.49 | 29,490.76 | 16,927.43 |
EBITDA margins | 20.39% | 19.71% | 21.47% | 16.04% |
Finance Cost | 1,789.57 | 369.38 | 78.87 | 179.21 |
Depreciation | 4,752.93 | 4,498.04 | 4,260.64 | 3,694.71 |
Other Income | 14,048.50 | 8,067.20 | 7,902.84 | 4,691.63 |
Profit/Loss before Tax | 26,491.77 | 21,047.27 | 33,054.09 | 17,745.14 |
Total Tax | 6,714.31 | 7,895.39 | 11,321.00 | 6,004.68 |
Profit After Tax (PAT) | 19,777.46 | 13,151.88 | 21,733.09 | 11,740.46 |
PAT margins | 18.45% | 13.33% | 14.96% | 10.65% |
EPS | 16.99 | 11.30 | 18.52 | 10.15 |
BALANCE SHEET OF GOA SHIPYARD LIMITED (In Rs. Lakhs)
PARTICULARS | 31st March 2020 | 31st March 2019 |
ASSETS | ||
NON CURRENT ASSETS | ||
Property, Plant and Equipment | 98,158.18 | 88,288.30 |
Intangible assets | 66.92 | 50.95 |
Financial assets | 2,397.67 | 2,675.74 |
Other Non-current Assets | 765.93 | 4,841.52 |
TOTAL NON CURRENT ASSETS | 1,01,388.70 | 95,856.51 |
CURRENT ASSETS | ||
Inventories | 33,330.72 | 20,242.10 |
Financial assets | 53,752.02 | 10,489.83 |
Trade receivables | 11,846.99 | 12,593.78 |
Cash and cash equivalent | 1,08,975.70 | 1,13,459.46 |
Tax assets | 4,193.48 | 1,204.13 |
Other current assets | 7,146.05 | 4,714.07 |
TOTAL CURRENT ASSETS | 2,19,244.96 | 1,62,703.37 |
TOTAL ASSETS | 3,20,633.66 | 2,58,559.88 |
EQUITY AND LIABILITIES | ||
EQUITY | ||
Equity Share Capital | 5,820.19 | 5,820.19 |
Other Equity | 96,746.84 | 85,412.26 |
TOTAL EQUITY | 1,02,567.03 | 91,232.45 |
LIABILITIES | ||
NON-CURRENT LIABILITIES | ||
Lease Liabilities | 220.42 | 0 |
Other Financial Liabilities | 461.58 | 676.3 |
Long-term Provisions | 2,703.24 | 2,713.41 |
Deferred Tax Liabilities (Net) | 519.03 | 716.22 |
Other Non-current Liabilities | 49,043.88 | 51,656.47 |
TOTAL NON-CURRENT LIABILITIES | 52,948.15 | 55,762.40 |
CURRENT LIABILITIES | ||
Lease Liabilities | 108.95 | 108.95 |
Trade payables | 2,948.97 | 2,229.62 |
Other financial liabilities | 25,016.73 | 25,180.32 |
Other current liabilities | 1,30,953.13 | 78,270.62 |
Provisions | 6,090.70 | 5,884.47 |
TOTAL CURRENT LIABILITIES | 1,65,118.48 | 1,11,673.98 |
TOTAL LIABILITIES | 2,18,066.63 | 1,67,436.38 |
TOTAL EQUITY AND LIABILITIES | 3,20,633.66 | 2,58,668.83 |
DIVIDEND HISTORY
Particulars | 2020 | 2019 | 2018 |
Dividend (final + interim) (In Rs.) | 5.50 | 4.00 | 10.75 |
Retained Earnings (Consolidated) (In Rs. Lakhs) | 13,616.94 | 15,248.16 | 14,959.85 |
PERFORMANCE OF THE COMPANY
Revenue from Operations of the company increased by 2.83% from Rs. 90,561.30 lakhs in FY 2019 to Rs. 93,127.02 lakhs in FY 2020.
EBITDA of the company increased by 6.38% from Rs. 17,847.49 lakhs in FY 2019 to Rs. 18,985.77 lakhs in FY 2020. EBITDA margins of the company improved slightly from 19.71% in FY 2019 to 20.39% in FY 2020.
Net Profit of the company increased significantly by 50.38% from Rs. 13,151.88 lakhs in FY 2019 to Rs. 19,777.46 lakhs in FY 2020. Profit After Tax margins increased from 13.33% in FY 2019 to 18.45% in FY 2020.
Total Book Value of the Company as of 31stMar 2020 stood at Rs.1,02,567.03 lakhs, which is an all-time high in the 60 years of the Company’s history. Book value per equity share of the company as of 31st March 2020 was Rs. 88.11.
As of 31st Mar 2020, the net value of the work to be executed against orders received for Ship Construction, Ship Repair/Refit work, and General Engineering Services amounted to Rs. 14,610 Crore (approximately).
The Current Ratio of the company as of 31st March 2020 was 1.32.
The company does not have any borrowings.
Goa Shipyard Limited has given a dividend of Rs. 5.50 per equity share for FY 2020.
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