Rs 25,111.29 crore order book: This multibagger shipbuilding company signs MoU to build commercial ships!

Shares of the company gained more than 90 per cent in the last six months.

On August 24, 2023, Garden Reach Shipbuilders & Engineers Limited informed in the exchange filing that the company and the DEMPO Group, have signed a Memorandum of Understanding (MoU) to launch a collaboration model to build commercial vessels in three premier shipyards of DEMPO at Goa and Bhavnagar. This is the company’s attempt to diversify in commercial shipbuilding to capture a large market share in the construction of commercial vessels, both domestic as well as international.

Garden Reach Shipbuilders & Engineers Limited has reported results for the first quarter ended June 30, 2023 (Q1FY24). The revenue of the company stood at Rs 755.90 crore which grew by 30.38 per cent YoY. The operating profit of the company stood at Rs 116.70 crore, growing by 57.02 per cent YoY while the PAT of the company grew by 52.83 per cent YoY staying at Rs 76.68 crore.

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Garden Reach Shipbuilders & Engineers Limited is a 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. GRSE is a diversified, profit-making and the first Shipyard in the country to export warships and deliver 100 warships to the Indian Navy and Indian Coast Guard.

Shares of the company have delivered multibagger returns of about 170 per cent in the last one year.

The company has an order book of more than Rs 25,111.29 crore and investors should keep a close eye on this stock.

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