Defence stock that caters to the shipbuilding requirements of the Indian Navy and the Indian Coast Guard jumped 7 percent from the day’s low following the release of its Q3FY24 results with a 38 percent jump in net profits.
With a market capitalization of Rs. 9,255 Crores, the shares of Garden Reach Shipbuilders Limited were trading at Rs. 807.80, up 1.17 percent from its previous day’s close price of Rs. 798.45.
Its revenue from operations grew by 32.93 percent YoY from Rs. 698.6 Crores in Q3FY23 to Rs. 923.09 Crores in Q3FY24 and it grew 2.80 percent QoQ from Rs. 897.91 Crores in Q2FY24 to Rs. 923.09 Crores in Q3FY24.
Its Net Profit grew by 38.06 percent YoY from Rs. 63.92 Crores in Q3FY23 to Rs. 88.25 Crores in Q3FY24 and it grew 9.31 percent QoQ from Rs. 80.73 Crores in Q2FY24 to Rs. 88.25 Crores in Q3FY24.
Garden Reach Shipbuilders Limited is a shipbuilding company catering to the shipbuilding requirements of the Indian Navy and the Indian Coast Guard. It is engaged in the construction, and engineering of commercial vessels and engine production activities. It is mainly engaged in the construction of warships/vessels for the defence sector.
It has reported a return on equity (ROE) of 16.4 percent and a return on capital employed (ROCE) of 20.3 percent, it is making good returns on its equity and capital employed.
According to the latest shareholding data available for the December 2023 quarter, the company’s Promoters hold 74.50 percent stake, the Domestic Institutional Investors hold 6.03 percent and the Foreign Institutional Investors (FII) hold 2.80 percent.
Written by: Bharath K.S
Disclaimer
The views and investment tips expressed by investment experts/broking houses/rating agencies on tradebrains.in are their own, and not that of the website or its management. Investing in equities poses a risk of financial losses. Investors must therefore exercise due caution while investing or trading in stocks. Dailyraven Technologies or the author are not liable for any losses caused as a result of the decision based on this article. Please consult your investment advisor before investing.
