Rs 24,221.37 Crore Order Book: Defence Shipbuilding Company Signs Contract for Construction and Delivery of Four 7,500 DWT Multi-Purpose Vessels (MPV)

The stock has delivered multibagger returns of 165 per cent from its 52-week low and a whopping 630 per cent in 3 years.

Garden Reach Shipbuilders & Engineers Ltd has signed a contract for the construction and delivery of the second vessel in the series of four additional 7500 DWT Multi-Purpose Vessels (MPV) on December 04, 2024, at Hamburg, Germany. This notification complies with Regulation 30 of SEBI's Listing Regulations. There has been no change in the financial implications of the order or contract. Contracts for the remaining two vessels will be disclosed separately.

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.

The company announced positive Quarterly Results (Q2FY25) and half-yearly results (H1FY24) for the financial year 2024. According to quarterly results, revenue increased by 28.4 per cent to Rs 1,152.92 crore, EBITDA increased by 19.4 per cent to Rs 143.65 crore and PAT increased by 21.1 per cent to Rs 97.77 crore in Q2FY25 compared to Q2FY24. In its half-yearly results, revenue increased by 30.8 per cent to Rs 2,162.64 crore, EBITDA increased by 15.5 per cent to Rs 273.78 crore and PAT increased by 17.5 per cent to Rs 184.97 crore in H1FY25 compared to H1FY24.

The order book as of September 30, 2024, stands at Rs 24,221.37 crore. The stock has delivered multibagger returns of 165 per cent from its 52-week low and a whopping 630 per cent in 3 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.