Garden Reach Shipbuilders & Engineers Q2 Update — Excellent Quarter Driven By Strong Margin: Dolat Capital
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Dolat Capital Report
Despite prevailing supply chain constraints and restrictions in place, execution remained strong as revenues were up by 55% year-on-year.
Also, Ebitda growth of 65% year-on-year (+70% vs DART est.) driven by better internal efficiencies as project related expense were down 68% to Rs 53 million (vs Rs 166 million in Q2 FY21) led to a strong quarter.
Subsequently, this led to huge beat on margin by 613 basis points vis-à-vis DART estimates.
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