Rs 23,877 Crore Order Book: Steel Bridges Manufacturer Signs MoU with PWD Nagaland
The stock has delivered multibagger returns of 140 per cent from its 52-week low and a whopping 1,150 per cent in 5 years.
Garden Reach Shipbuilders & Engineers Ltd. (GRSE) achieved a significant milestone by signing a breakthrough Memorandum of Understanding (MoU) with PWD Nagaland for the supply of eight sets of double-lane modular Steel Bridges in the state. This landmark MoU marks the first-ever MoU between GRSE and a North Eastern State, aligning with the Government of India’s Make in India initiative for accelerated regional development.
The MoU was signed by DIG Subrato Ghosh, ICG (Retd.), Director (Personnel), GRSE, and Shri Swarai Meru, Chief Engineer, PWD Nagaland in Kohima on March 19, 2025, in the presence of Shri Natarajan Partheepan, General Manager (Bailey Bridges), GRSE. In the past, GRSE has delivered Modular Bridges to the Border Roads Organisation (BRO) and the National Highway Infrastructure Development Corporation Ltd (NHIDCL), apart from several state governments and friendly countries like Bhutan, Nepal, Myanmar, Sri Lanka and Bangladesh. To date, GRSE has supplied over 5,800 Modular Bridges.
Earlier, GRSE has secured a contract with the Ministry of External Affairs (MEA), Government of India, for the normal refit of the Mauritius Coast Guard Ship CGS Barracuda (MCGS Barracuda), which GRSE originally constructed and delivered in 2014. The contract, valued at Rs 23.07 crore plus a potential 15% for growth of work and additional spares (excluding taxes), involves a comprehensive refit encompassing both services and mandatory spares, with additional work spares considered separately. The refit, funded by the MEA as a grant to the Government of Mauritius, is scheduled to be completed within 10 months from the ship's availability at GRSE, Kolkata.
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Garden Reach Shipbuilders & Engineers Ltd (GRSE), a Schedule ‘A’ Mini Ratna Category I Company, is a premier Indian warship builder with a rich history dating back to 1884. This Ministry of Defence undertaking has built over 790 platforms, including 110 warships for the Indian Navy, Coast Guard, and foreign navies. From India's first warship, the SDB INS Ajay, to its first export warship, the CGS Barracuda, GRSE's capabilities span a wide range of vessels, including frigates, corvettes, survey vessels, and fast attack craft. The shipyard's commitment to excellence and quality is reflected in its numerous accolades and ongoing infrastructure modernization.
The company announced positive Quarterly Results (Q3FY25) and nine-month results (9MFY24) for the financial year 2024. According to quarterly results, revenue increased by 38 per cent to Rs 1,271.01 crore, EBITDA increased by 13 per cent to Rs 147.41 crore and PAT increased by 11 per cent to Rs 98.19 crore in Q3FY25 compared to Q3FY24. In its half-yearly results, revenue increased by 31 per cent to Rs 3,379.65 crore, EBITDA increased by 15 per cent to Rs 421.18 crore and PAT increased by 15 per cent to Rs 283.16 crore in 9MFY25 compared to 9MFY24.
The President of India’s portfolio owns 8,53,41,240 shares or 74.50 per cent stake in the company as of December 2024. The order book as of December 31, 2024, stands at Rs 23,877 crore. The stock has delivered multibagger returns of 140 per cent from its 52-week low and a whopping 1,150 per cent in 5 years. Investors should keep a close watch on this small-cap shipbuilding stock.
Disclaimer: The article is for informational purposes only and not investment advice.