Rs 25,231 Crore Order Book: Shipping Company Signs MoU with NHIDCL for Double Lane Modular Bridges, FIIs Increased Stake in Q1 FY25!
The company’s shares have delivered an impressive return of over 120 per cent in the past 1 year.
Garden Reach Shipbuilders & Engineers Ltd (GRSE) has secured a significant MoU with the National Highway Infrastructure Development Corporation Ltd (NHIDCL) for the fabrication, supply, and deployment of Double-Lane Class 70 modular steel and Bailey bridges. The agreement was signed by Krishan Kumar, IAS, MD of NHIDCL, and Cmde PR Hari, IN (Retd.), CMD of GRSE, in the presence of senior officials from both organizations.
These Class 70R Double-Lane Bridges, designed by GRSE, aim to improve critical border connectivity and enhance troop and equipment movements. GRSE's Indigenous bridge design aligns with India's Aatmanirbhar Bharat initiative and features high-tensile steel for strength, longevity, and performance in harsh environments. The modular construction allows for rapid assembly in remote areas, significantly boosting India's border infrastructure.
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GRSE's track record in bridge building includes the supply of 44 bridges under a previous MoU with the Border Roads Organization. Additionally, GRSE holds the prestigious Green Channel Certification for Portable Steel Bridges from the Indian Army, making it the sole Indian organization with this qualification. GRSE has also exported over 5,700 portable steel bridges to various countries, earning international recognition for its innovation in disaster management and infrastructure development.
Currently, GRSE’s shares are trading at Rs 1774.05 per share. The company’s current market capitalization stands at Rs 20329.54 crore. The stock has delivered a return of over 115 per cent in just 6 months.
As per the Quarterly Results, in the first quarter of FY25, GRSE recorded a revenue of Rs 1010 crore. The operating profit for Q1 FY25 stood at Rs 56 crore. The net profit for Q1 FY25 was Rs 87 crore. Looking at the annual performance, the company generated a revenue of Rs 3593 crore in FY24, compared to Rs 2561 crore in FY23. The operating profit for FY24 was Rs 234 crore, with a net profit of Rs 357 crore.
According to the shareholding pattern, promoters own 74.50 per cent, while FIIs and DIIs own 3.91 per cent and 3.20 per cent, respectively, with the remaining 18.38 per cent held by public or retail investors.
Investors must keep this Small-Cap stock on their radar.
Disclaimer: The article is for informational purposes only and not investment advice.