Garden Reach Shipbuilders and Engineers Ltd handed over a cheque of Rs 24.77 crore towards dividend for the year 2010-11.
The cheque was handed over to the Union Defence Minister, Mr A K Antony, on Thursday, according to a press statement issued by the company.
Garden Reach Shipbuilders and Engineers achieved production value of about Rs 1,053 crore in 2010-11 and aims to achieve production of Rs 1,200 crore in 2011-12, the release stated.
Garden Reach Shipbuilders has also embarked upon a rapid modernization of its shipbuilding infrastructure at an approximate cost of Rs 630 crore.
The project is expected to be put into operation by the end of next year, the company said in the statement.