GRSE Shares Surge 7% on Robust Q2 Performance: Net Profit Soars 57%

Garden Reach Shipbuilders and Engineers Ltd (GRSE) witnessed a significant rally in its stock price following the announcement of strong quarterly results. The company's shares jumped 7% to Rs 2,748, reflecting investor enthusiasm for its impressive financial performance.

Financial Highlights

GRSE reported substantial growth across key financial metrics for the second quarter:

Metric	Q2 FY24	Q2 FY23	YoY Growth
Net Profit	154.00	98.00	57.00%
Total Income	1,746.00	1,230.00	42.00%
Revenue from Operations	1,677.00	1,157.00	45.00%
EBITDA	225.00	144.00	56.00%

The company's performance demonstrates robust growth across all major financial indicators, with net profit showing the most significant increase at 57% year-over-year.

Half-Year Performance

GRSE's strong performance extended to its half-yearly results as well:

Metric	H1 FY24	YoY Growth
Total Income	3,128.00	35.00%
Net Profit	274.00	48.00%

These figures indicate sustained growth and financial stability for the company over a broader timeframe.

Management Outlook

The management of GRSE expressed confidence in maintaining strong financial performance for the remainder of the fiscal year. This optimism is underpinned by a robust order book and clear order visibility, suggesting potential for continued growth in the coming quarters.

Market Response

The market responded positively to GRSE's financial results:

Shares were trading at Rs 2,692, up 4.6% at the time of reporting
Year-to-date gain stands at an impressive 63%

This significant year-to-date gain reflects strong investor confidence in Garden Reach Shipbuilders' business model and growth prospects.

The company's ability to deliver substantial growth in revenue and profitability, coupled with management's positive outlook, positions GRSE favorably in the eyes of investors. However, as with all investments, it's crucial for investors to conduct thorough research and consider market risks before making investment decisions.

1 Day	5 Days	1 Month	6 Months	1 Year	5 Years
-0.35%	-8.41%	-0.20%	-24.00%	+43.61%	+1,196.95%

Garden Reach Shipbuilders & Engineers (GRSE) has declared an interim dividend, with shares set to trade ex-dividend on Tuesday. This announcement comes as part of a series of dividend declarations in the market.

Dividend Details

GRSE's Board of Directors has approved an interim dividend. Here are the key details:

Aspect	Detail
Dividend Amount	Rs 5.75 per equity share
Face Value of Share	Rs 10.00
Total Payout	Rs 65.87 crore
Source of Payout	Profits for half-year ended September 30

Investor Advisory

Investors should note that to be eligible for this dividend, they must purchase GRSE shares before the end of today's trading session. The stock will trade ex-dividend starting Tuesday, meaning that buyers from that day onwards will not be entitled to this interim dividend.

Company Profile

GRSE, a Government of India undertaking, operates under the Ministry of Defence. The company specializes in:

Manufacturing warships
Producing other naval platforms

This dividend announcement underscores the company's financial performance and its commitment to shareholder returns.

Market Context

GRSE's dividend announcement comes amidst a flurry of similar corporate actions. Other notable companies trading ex-dividend on the same day include:

Chambal Fertilisers and Chemicals
Chalet Hotels
Siyaram Silk Mills
Steelcast Ltd
Nuvama Wealth Management
Indian Metals & Ferro Alloys

This cluster of dividend announcements suggests a broader trend of companies rewarding shareholders, potentially reflecting positive financial performances across various sectors.

Investors and market watchers are advised to keep an eye on these developments, as they may influence short-term trading patterns and long-term investment strategies in the affected stocks.