President of India’s Portfolio Gains Rs 2334,08,29,140 In Just 1 Day & Rs 23,877 Crore Order Book: Multibagger Defence Shipbuilding Stock Hit 20 Per Cent Upper Circuit

The stock has delivered multibagger returns of 120 per cent from its 52-week low and a whopping 1,000 per cent in 5 years.

On Wednesday, shares of this multibagger defence shipbuilding stock hit 20 per cent upper circuit to Rs 1,614.15 per share from its previous closing of Rs 1,367.65 per share. The stock’s 52-week high is Rs 2,834.60 per share and its 52-week low is Rs 744 per share. The shares of the company saw a spurt in volume by more than 4.4 times on BSE.  

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. Therefore, in just 1 day, the President of India’s portfolio gains Rs 2334,08,29,140 (i.e., Rs 273.50 per share x 8,53,41,240 shares).

The trending stock name is Garden Reach Shipbuilders & Engineers Ltd (GRSE).

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.

Recently, 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.

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 order book as of December 31, 2024, stands at Rs 23,877 crore. The stock has delivered multibagger returns of 120 per cent from its 52-week low and a whopping 1,000 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.