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Garden Reach Shipbuilders Stock Alert
Investors praised Garden Reach Shipbuilders & Engineers for its strong fourth quarter performance, which sent the company’s shares soaring over 18% to a new all-time high of Rs 1,411 per share on May 23. Compared to the same quarter last year, the company’s sales in Q4 increased by 69% to exceed Rs 1,000 crore.
Garden Reach Shipbuilders Annual Report
On an annual basis, the company’s net profit doubled to Rs 112 crore during the quarter. For up-to-date market information, subscribe to our live blog. Earnings before interest, tax, depreciation, and amortization, or EBITDA, more than tripled to Rs 90.5 crore during the quarter compared to Rs 20 crore in the same time last year.
Earnings before interest, tax, depreciation, and amortization, or EBITDA, more than tripled to Rs 90.5 crore during the quarter compared to Rs 20 crore in the same time last year. Garden Reach Shipbuilders’ management declared that their profit and revenue had hit all-time highs and expressed optimism about the company’s ability to continue growing in the future.
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The management also stated that the order book is still strong and that ongoing projects are currently generating the highest possible income. The business also mentioned that more orders are expected shortly. In comparison, revenue climbed by 40% and net profit soared by 57% in FY24.
The company’s shares were trading at Rs 1,394 at around 9:50 am, up 17% from the previous close. During the past three months, Garden Reach shares have increased by a staggering 70%.
