Garden Reach Shipbuilders & Engineers (GRSE) shares rose sharply on April 29 after the company reported strong financial results for the March quarter. GRSE started the day at Rs. 3,100, up from the previous day’s closing price of Rs. 2,875.30, and went on to hit an intraday peak of Rs. 3,339, making a gain of almost 15%. Industry experts believe the company's positive financial results can be the main reason behind this surprise jump.
GRSE witnessed a YoY jump of 24% in its bottom line at Rs. 303.19 crore for the quarter ended March FY26 against Rs 244.2 crore in the corresponding quarter last year. Its top line jumped 29%, from Rs. 1,642 crore in Q4FY25 to Rs. 2,119 crore in Q4FY26.
Its operating results were impressive, with EBITDA surging 61% from Rs. 221 crore last year to Rs. 355 crore this year. Its EBITDA margin also increased from 13.4% to 16.8%.
The company’s performance was driven by sustained project execution and delivery. Investors liked the combination of topline growth and margin improvement, which boosted its stock.
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The board has approved a final dividend of Rs. 6.70 per equity share for FY26. It has been declared subject to shareholder approval at the next annual general meeting.
PR Hari (retired), Chairman and Managing Director of GRSE, noted that FY26 was a crucial year for the organization as the company delivered eight warships during the financial year. This means an average of one ship per month-and-a-half, thus demonstrating its capabilities.
The organization plans to maintain its current operational pace through three methods: expanding its facilities, implementing new technologies, and entering new business markets. The future of GRSE looks promising, given its strong order book and focus on operational execution.
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