Q4 Results Reaction: Garden Reach Shipbuilders soar over 18% to new high as profit doubles in March quarter

On the operating front, Earnings Before Interest, Tax Depreciation and Amortisation (EBITDA) much than tripled during the 4th to ₹90.5 crore. The steadfast had reported EBITDA of conscionable implicit ₹20 crore successful the aforesaid play past year.

Other shipbuilders besides joined successful the rally. Mazagon Dock Shipbuilders precocious 8 percent to its caller precocious of ₹3,110. It has present surged a monolithic 316 percent from its 52-week debased of ₹747.55, deed connected May 25, 2023. Meanwhile, Cochin Shipyard rallied 9.4 percent besides to its grounds precocious of ₹1,787. It has besides skyrocketed 662 percent from its 52-week debased of ₹234.53, deed connected May 25, 2023.

“Happy to study a beardown acceptable of numbers, with some our Revenue from Operations and Profit aft Tax reaching caller heights. Backed by a beardown bid publication and with our ongoing projects astatine a maximum gross designation phase, and besides with much orders connected the anvil, we are assured of sustained maturation successful the coming years too. Our absorption continues to beryllium connected timely execution of ongoing projects and caller exertion adoption with circumstantial impetus connected improvement of autonomous and greenish vigor platforms," said Cmde Hari PR, IN (Retd) Chairman and Managing Director, Garden Reach Shipbuilders & Engineers Limited.

The banal of Garden Reach has fixed multibagger returns successful the past 1 year, rising astir 149 percent portion it has precocious 61.5 percent successful 2024 YTD, giving affirmative returns successful 3 of the 5 months truthful far. The scrip has gained 20.4 percent successful May truthful acold aft a 23.3 percent leap successful April. However, it mislaid 6 percent and 12.5 percent successful March and February, respectively. Before that, it was up 6.6 percent successful January 2024.

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Garden Reach Shipbuilders & Engineers Limited engages successful the plan and operation of warfare ships successful India. The institution offers frigates, anti-submarine warfare corvettes, rocket corvettes, landing vessel tanks, landing trade utilities, survey vessels, fleet replenishment tankers, accelerated patrol vessels, offshore patrol vessels, inshore patrol vessels, h2o pitchy accelerated onslaught craft, hovercrafts, and accelerated interceptor boats to the Indian Navy, Indian Coast Guard, and different governments.

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Published: 23 May 2024, 10:17 AM IST