Rs 23,592 crore order book and FIIs increase stake: Heavy buying witnessed in this multibagger shipbuilding stock; gains over 600 per cent!

Shares of the company gained more than 60 per cent in the last six months.

Garden Reach Shipbuilders & Engineers Limited has posted strong Quarterly Results in Q4FY24. The shares of the company gained more than 15 per cent on Thursday. 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.

Recently, Garden Reach Shipbuilders & Engineers Limited (GRSE) has been awarded a contract by the People's Republic of Bangladesh for the construction of a trailing suction hopper dredger. The dredger will have a hopper capacity of 1000 cubic meters and will come with spare parts. The final contract value, excluding taxes, is expected to be around USD 1,65,75,210. This project strengthens GRSE's position in the shipbuilding industry and expands its footprint in the Bangladeshi market.

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 140 per cent in the last one year and 600 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. 23,592 crores as of December 31, 2023.

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.