The shares of the Defence shipbuilding company focused on constructing warships for the Indian Navy and Coast Guard, jumped upto 4 percent upon declaring Q3 results and generating revenue with a 38 percent rise Year on Year (YoY).
Price action
With a market capitalization of Rs. 17,279 crores on Tuesday, the shares of Garden Reach Shipbuilders & Engineers Limited jumped upto 4 percent making a high of Rs. 1567.80 per share compared to its previous closing price of Rs. 1508.45 per share.
What Happened
Garden Reach Shipbuilders & Engineers Limited engaged in constructing warships for the Indian Navy and Coast Guard has announced its Q3FY25 results.
Its Revenue from operations grew by 37.7 percent YoY from Rs. 923 Crores in Q3FY24 to Rs. 1,271 Crores in Q3FY25 and it grew by 10.2 percent QoQ from Rs. 1,153 Crores in Q2FY25 to Rs. 1,271 Crores in Q3FY25.
Its Net Profit grew by 11.3 percent YoY Rs. 88.2 Crores in Q3FY24 to Rs. 98.2 Crores in Q3FY25 and it rose by 0.4 percent QoQ from Rs. 97.8 Crores in Q2FY25 to Rs. 98.2 Crores in Q3FY25.
The earnings per share (EPS) for the quarter stood at Rs. 8.57, compared to Rs. 8.54 in the previous quarter and minus Rs. 7.70 in the same quarter last year.
Along with it, the company has declared an Interim Dividend for the Financial Year 2024-25 of Rs. 8.95 per equity share of the face value of Rs. 10/- each, amounting to Rs.102.52 crore, and has set February 7th as the record date.
Management Commentary
Cmde Hari PR, IN (Retd) Chairman and Managing Director, Garden Reach Shipbuilders & Engineers Limited said, “The Q3 results have been very encouraging and we are confident of a good set of numbers even during Q4FY25. The order book is strong and the ongoing projects are progressing well. We also expect more orders in the coming months to bolster our order book position. And so, the future looks definitely bright for GRSE. “
About the company
Garden Reach Shipbuilders & Engineers Ltd. (GRSE) is a leading Indian shipbuilding company, primarily engaged in the design, construction, and repair of warships, cargo
vessels, and offshore platforms. The company operates multiple state-of-the-art shipyards and has delivered numerous ships to the Indian Navy and Coast Guard.
Written by Sridhar J
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