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Garden Reach shares gain 5% on posting Q3 results, PAT up 11%, rev up

Garden Reach reported 11 per cent increase in net profit at Rs 98 crore as compared to Rs 88 crore a year ago

Market, BSE, NSE, NIfty, Stock Market, investment

SI Reporter Mumbai

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Garden Reach Shipbuilders shares slumped 5.3 per cent on Tuesday, logging an intraday high at Rs 1,588.95 per share on BSE. The stock gained after the company post Q3 results
 
Around 12:27 PM, Garden Reach Shipbuilders share price was up 2.09 per cent at Rs 1,540 per share on BSE. In comparison, the BSE Sensex was down 0.93 per cent at 77,906.99. The market capitalisation of the company stood at Rs 17,641.01 crore. The 52-week high of the stock was at Rs 2,834.6 per share and the 52-week low was at Rs 674.25 per share. 
 
The company released its Q3 results on Monday after market hours. Garden Reach reported 11 per cent increase in net profit at Rs 98 crore as compared to Rs 88 crore a year ago. The company's revenue for the quarter under review stood at Rs 1,271 crore as compared to Rs 923 crore a year ago, 37.7 per cent. 
 
 
"The Q3 results have been 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," said  Cmde Hari PR, IN (Retd) chairman and managing director, Garden Reach Shipbuilders & Engineers. 

Garden Reach Shipbuilders' dividend 

The company's board declared an interim dividend for the financial year 2024-25 at Rs 8.95 per equity share of face value of Rs 10 each, amounting to Rs 102.52 crore. Further, the board fixed Friday, February 7, 2025, as the record date. 
 
Garden Reach Shipbuilders & Engineers is a defence public sector undertaking, under the administrative control of the Ministry of Defence, and a Schedule ‘A’ Mini Ratna Category I company. The company was taken over by the Government of India in 1960. Garden Reach has the distinction of becoming the first shipyard of independent India to build a warship for Indian Navy, the Seaward Defence Boat (SDB) INS Ajay, way back in 1961. 
 
The company also built the first ever Indian Export Warship “CGS Barracuda” for Govt. of Mauritius, a Fast Patrol Vessel “SCG PS Zoroaster” for Seychelles, and an Ocean-Going Cargo & Passenger Ferry Vessel “MV Ma Lisha” for the Cooperative Republic of Guyana. The shipyard was conferred the status of a Miniratna Category I Company in 2006. GRSE has built over 790 platforms including 110 warships for the Indian Navy, Indian Coast Guard, and friendly foreign countries.
 
In the past one year, Garden Reach Shipbuilders shares have gained 71.8 per cent against Sensex's rise of 7.6 per cent.

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First Published: Feb 04 2025 | 12:58 PM IST

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