GRSE in the good waters

The top gainer on the BSE presently is Garden Reach Shipbuilders & Engineers (GRSE). The stock opened 11% higher at Rs.1320 and went on to hit a new 52-week high at Rs.1424.80, up 20% on the back of a 2x surge in volumes.

The market is obviously very happy with the Q4FY24 earnings announced. The war ship building PSU’s revenue from operations rose by a good 69% (YoY) at Rs.1016 crore, crossing the Rs.1000 crore-mark and its net profit doubled up to Rs.112 crore, which is highest till date.

EBITDA for the quarter was at Rs.166 crore, up 84% while PBT came in at Rs.153 crore, up 101%.

The management is very optimistic about its future stating without speeling out the actual numbers that its order book remains strong with ongoing projects currently in maximum revenue recognition phase, with more orders in the pipeline.