Garden Reach Shipbuilders Reports 4% Dip In Orderbook At ₹24,221 Cr In Q2

Garden Reach Shipbuilders in its earnings call for the September quarterly results informed that the company's order book currently stands at ₹24,221.37 crore.

This is a 4% decrease from the ₹25,231.29 crore posted at the end of the June quarter. “Our order book is good. We are flush with orders as a matter of fact. And we expect more orders to come in the future. And I have been consistently maintaining that we have a very clear execution strategy,” the management added on the call.

See Also: Mukesh Ambani’s Reliance Jio Urges Review Of Starlink And Amazon’s Satellite Plans In India

Today's Best Finance Deals

The company added that it has maintained a 30% growth in the first half of the year and reiterated its earlier commitment to achieving a compound annual growth rate (CAGR) of approximately 25% during the four-year period from FY23 to FY27. The management expressed confidence in maintaining this growth trajectory, adding that it aims to exceed expectations by sustaining a similar rate of expansion.

The defence shipbuilder reported a net profit of ₹97.77 crore for the September quarter, up 21% from ₹80.7 crore in the same period last year. Revenue from operations rose 28% year-on-year to ₹1,152.92 crore, compared to ₹878 crore in the corresponding quarter of the previous year.

Read Next: CLSA Reverses Course, Increases Allocation To Indian Equities While Cutting Back On China