Rs 22,652 crore order book and FIIs increase stake: This multibagger shipbuilding stock bags new order worth Rs 840 crore; gains over 1,700 per cent!

Shares of the company gained more than 150 per cent in the last six months.

In a significant boost to India's oceanographic research capabilities, Garden Reach Shipbuilders & Engineers Limited (GRSE) signed a contract with the National Centre for Polar and Ocean Research (NCPOR) for the construction and delivery of a new Ocean Research Vessel (ORV). This domestic project, valued at approximately Rs 840 crore, involves building a single, state-of-the-art ORV within a 42-month timeframe. This win highlights GRSE's expertise in shipbuilding and strengthens India's self-reliance in maritime technology.

Garden Reach Shipbuilders & Engineers Limited has posted strong Quarterly Results in Q4FY24. The revenue of the company stood at Rs 1015.73 crore which grew by 68.96 per cent YoY. The operating profit of the company stood at Rs 166.48 crore which grew by 84.23 per cent on a YoY basis, while the PAT of the company stood at Rs 111.60 crore, which increased by 101.81 per cent on a YoY basis.

Garden Reach Shipbuilders & Engineers Limited is a premier shipbuilding company in India under the administrative control of the Ministry of Defence, primarily catering to the shipbuilding requirements of the Indian Navy and the Indian Coast Guard. The stock has delivered multibagger returns of about 300 per cent in the last one year and 1,700 per cent in last five years. Additionally, FIIs increased their stake in the company in June 2024. The company is well-positioned for future growth, with a strong order book of Rs. 22,652 crores as of March 31, 2024.

The stock has shown impressive growth, and investors should keep a close eye on this stock.

Disclaimer: The article is for informational purposes only and not investment advice.