Multibagger from its 52-week low: This aerospace & defence company receives order worth Rs 248.51 crore!

The company unveils outstanding Q4FY23 & FY23 results and declares a final dividend.

Garden Reach Shipbuilders & Engineers Ltd has announced that the company entered into a contract with the Indian Navy for the supply of 10 Naval Surface Guns (NSG) of 30 mm with Electro-Optical Fire Control System (EOFCS) and ammunition, at a total cost of Rs 248.51 crore.

Additionally, the company has announced its Quarterly Results (Q4FY23) and annual results (FY23). The net sales increased by 10.68 per cent and the profit increased by 17.16 per cent in Q4FY23 over Q4FY22. The net sales increased by 46 per cent and net profit increased by 20 per cent in FY23 over FY22. The EPS stood at Rs 19.91 in FY23.  

Furthermore, the company has declared an interim dividend of 62 per cent of paid-up share capital against 55 per cent of the previous year.

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Garden Reach Shipbuilders & Engineers Ltd is a premier shipbuilding company in India, operating under the administrative control of the Ministry of Defence. It primarily caters to the shipbuilding requirements of the Indian Navy and the Indian Coast Guard.

On Friday, shares of Garden Reach Shipbuilders & Engineers surged by 2.10 per cent, reaching Rs 463.40 per share, with an intraday high of Rs 472.60 and an intraday low of Rs 455.15.

The stock has delivered multibagger returns of 127.48 per cent from its 52-week low of Rs 207.75 per share. Investors should keep a close watch on this Small-Cap stock.