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Garden Reach Shipbuilders & Engineers Ltd (GRSE) shares were in high demand on Dalal Street on Wednesday, May 14, 2025, after the company reported a stellar set of numbers for the March quarter. The defence PSU stock surged as much as 18.25 per cent to hit an intraday high of Rs 2,264.65, before trimming some gains to trade over 15 per cent higher at Rs 2,217.20 around 12 PM.

The stock rally comes on the back of a 118.9 per cent YoY jump in net profit, boosting investor confidence and turning the spotlight on India’s growing defence manufacturing space.

In its Q4FY25 earnings report, GRSE reported a net profit of Rs 244 crore, more than double the Rs 112 crore it posted in the same quarter last year.

Revenue from operations stood at Rs 1,642 crore in the March quarter, marking a robust 61.7 per cent increase YoY compared to Rs 1,015.7 crore in Q4FY24.

At the operating level, the company’s EBITDA rose sharply by 101 per cent YoY to Rs 335 crore, indicating strong margin expansion on the back of scale efficiencies and execution of high-value defence orders.

GRSE isn’t alone in this defence rally. Stocks across the sector have been buzzing this week amid strong earnings, a pickup in order flows, and increased government focus on indigenisation.

The broader BSE Defence Index has been trending higher, and GRSE’s performance cements its position as a top gainer within the space.

Commenting on the quarterly performance, Cmde Hari PR (Retd), Chairman and Managing Director of GRSE, said:

The company also announced a final dividend of Rs 4.90 per equity share for FY25, adding to shareholder value.

With a strong Q4 showing, a robust order book, and steady government support towards defence indigenisation, Garden Reach Shipbuilders shares remain firmly on the radar of investors and analysts. The stock has delivered multibagger returns over the past year and continues to ride the momentum in the defence sector.

Headquartered in Kolkata, Garden Reach Shipbuilders & Engineers is a leading shipbuilding company under the Ministry of Defence. Known for constructing advanced warships for the Indian Navy and Coast Guard, the company has delivered over 100 warships to date.

Beyond defence, GRSE is also active in commercial vessel construction, marine engineering, and engine-related projects — adding diversification to its revenue streams.

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