# GRSE net profit rises 12% in Q2, brokerages split on outlook 2026-11-12T05:49:21+00:00 | Business & Economy | Indian Opinion Desk Corroboration: 4 independent outlets Garden Reach Shipbuilders & Engineers (GRSE) reported a 12% year-on-year rise in net profit to Rs 172 crore for the quarter ended September 2026, with revenue up 9% to Rs 1,827 crore. EBITDA rose 13% to Rs 254 crore and margin expanded to 10.7%. Brokerages were split on the stock after the results. Elara Capital revised its rating to 'Reduce' from 'Sell' with a target of Rs 2,230, saying growth momentum may peak in FY27. Antique Stock Broking maintained 'Buy' with a revised target of Rs 2,869, while Goldman Sachs kept 'Sell' at Rs 1,735. GRSE shares rose 2% on Thursday to Rs 2,273.10 intraday. ## Indian Opinion Analysis The profit and revenue figures are nearly identical across all sources, with Business Today, Economic Times and NDTV Profit reporting a 12% net profit rise to about Rs 172 crore and 9% revenue growth to Rs 1,827-1,827 crore. Business Standard's revenue figure of Rs 1,886 crore (8% growth) matches the total income number that Economic Times also reports but attributes differently. The key divergence is in broker response: Business Standard and NDTV Profit name both Elara Capital's 'Reduce' and Antique's 'Buy' with price targets, while NDTV Profit adds Goldman Sachs's 'Sell'. Economic Times carries no brokerage commentary, only the CMD's statement on project milestones. The overlap between the four articles is the core earnings data, the difference is whether the framing leads with the stock gain (Economic Times, NDTV Profit) or with the miss versus estimates (Business Standard). ## Coverage Coverage: 4 sources, 4 neutral - businesstoday.in (neutral report) Leads with broker 'miss' framing, includes stock drop context - business-standard.com (neutral report) Leads with earnings miss and broker downgrades, includes bearish Elara note - economictimes.indiatimes.com (neutral report) Leads with stock rise, includes CMD statement, no brokerage views - ndtvprofit.com (neutral report) Leads with stock gain, includes Goldman Sachs 'Sell' and Choice 'Buy' This brief was synthesised by AI from the 4 sources linked above, so one read covers every framing they carry. Tags: Antique Stock Broking, Elara Capital, Garden Reach Shipbuilders & Engineers, Goldman Sachs, GRSE, Next Generation Corvette Canonical: https://indianopinion.org/grse-net-profit-rises-12-in-q2-brokerages-split-on-outlook/ License: Summary and commentary (c) Indian Opinion, reusable with attribution. Facts belong to the linked sources. Cite: https://indianopinion.org/grse-net-profit-rises-12-in-q2-brokerages-split-on-outlook/#story-in-brief How this brief was made: an AI model read the reports linked above and wrote this summary and analysis, which were published automatically. Published briefs are sampled every hour by an automated quality check; the editor verifies its findings and approves corrections, and corrected briefs carry a dated correction line. Stance labels are editorial classifications of how each outlet framed this story, assigned by the same model, not ratings of the outlets. We do no original reporting. Methodology: https://indianopinion.org/ai-use-policy/