Rs 22,652 crore order book and FIIs & DIIs increase stake: This multibagger shipbuilding stock bags new order worth Rs 500 crore from DRDO!

Shares of the company gained more than 50 per cent in the last six months.

Garden Reach Shipbuilders & Engineers Limited emerged as the frontrunner (L1) in the bidding process to construct a research vessel for the Defence Research and Development Organisation (DRDO). This project is estimated to be worth approximately Rs. 500 crores. While the contract is still under negotiation, this win signifies Garden Reach's expertise in shipbuilding and strengthens its position as a key partner for India's defence needs.

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 160 per cent in the last one year and 500 per cent in three years. Additionally, FIIs and DIIs increased their stake in the company in March 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.