Garden Reach Shipbuilders Q2FY25 Results net profit increased by 21.09%

One of India’s leading public sector companies, Garden Reach Shipbuilders & Engineers Ltd. (GRSE), focuses on shipbuilding and associated engineering services. The company was founded in 1884, and its main office is in Kolkata, West Bengal. One of India’s top shipyards and a significant player in the nation’s maritime history, GRSE is renowned for its vast capabilities in constructing warships, patrol boats, and other intricate maritime platforms for the Indian Navy, Coast Guard, and export markets. GRSE was first established as a small workshop to fix boats for the River Steam Navigation Company. The Indian government nationalized it in 1960. Since then, it has expanded greatly, producing a broad range of surface vessels, such as landing ship tanks, frigates, corvettes, and fast attack craft. GRSE provides engineering products like deck machinery and portable steel bridges in addition to shipbuilding.

GRSE Q2 FY25 result

After the company’s net profit increased 21.09% to Rs 97.77 crore in Q2 FY25 over Q2 FY24, on the back of a 28.4% increase in operating revenue to Rs 1,152.92 crore, Garden Reach Shipbuilders & Engineers (GRSE) saw a 2.70% increase to Rs 1,422. In comparison to the same quarter last year, when PBT was Rs 130.53 crore, it increased by 21.43% to Rs 130.53 crore in the September 2024 quarter.

In comparison to Q2 FY24, total expenses increased by 27.3% to Rs 1,097.30 crore in Q2 FY25. The cost of materials used during the quarter was Rs 807.20 crore, up 33.89% year over year, while the cost of employee benefits was Rs 82.51 crore, down 0.45% year over year. In the September quarter of FY24, the earnings before interest, tax, depreciation, and amortization (EBITDA) were Rs 144 crore, representing a 20% YoY increase.

Chairman and MD Cmde Hari PR, IN (Retd) stated

According to Cmde Hari PR, IN (Retd), chairman and managing director of Garden Reach Shipbuilders & Engineers, “We have a clear growth path thanks to our current orders for the Indian Navy as well as orders for commercial and specialized research vessels. Our Q2 & H1/FY 24 results have been very encouraging.” The foreseeable future appears bright, and we are certain that we will continue to deliver high numbers because we have a solid order book and more orders coming in.

GRSE stock has increased by 2%

The current intraday price of GRSE stock is Rs. 1,405.95 per share, up 2% from the stock’s peak of Rs. 1,470.00, reflecting the company’s increased Q2 FY25 profit.

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