Now Reading: GRSE net profit rises 12% in Q2, brokerages split on outlook
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GRSE net profit rises 12% in Q2, brokerages split on outlook
The Story in Brief
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: 4 sources, 4 neutral
Sources (4): businesstoday.in (neutral report), business-standard.com (neutral report), economictimes.indiatimes.com (neutral report), ndtvprofit.com (neutral report)
This brief was synthesised by AI from the 4 sources linked above, so one read covers every framing they carry. Methodology and corrections.
