Garden Reach Shipbuilders and Engineers (GRSE) is making headlines this Tuesday after sharing some positive news. The company reported that it made a net profit of ₹98 crore in the last quarter, which is an 11% increase compared to ₹88 crore the same time last year.
The revenue, which is how much money they brought in from selling their products, jumped 38%, reaching ₹1271 crore, up from ₹923 crore in the previous year. While their profits stayed the same as the last quarter, revenues did grow by 10%.
In even better news, GRSE saw a big rise in its earnings before interest, taxes, depreciation, and amortization (EBITDA), increasing 55% to ₹75 crore. They also improved their profit margins to 5.95%. However, total expenses for this quarter went up to ₹1209 crore, compared to ₹886 crore last year.
GRSE has also declared an interim dividend of ₹8.95 per share for this financial year, totaling ₹102. This will be paid out based on profits for the nine months ending December 2024. The last date for investors to be eligible for this dividend is February 7.
According to Trendlyne, the average target price for GRSE shares is ₹1,149, showing a potential decline of 24% from current prices. Two analysts suggest that investors should ‘Hold’ on to their shares.
On Monday, GRSE shares closed at ₹1,508, down by 5.3% while the Sensex fell by 0.41%. Over the last six months, the stock has dropped by 35% but has increased by 213% over the past two years. The company is valued at ₹17,279 crore.
(Disclaimer: The opinions of experts are their own and do not reflect the views of Thellv.news)
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