Rs 24,546 crore order book and FIIs increase stake: This multibagger shipbuilding company bags new order worth Rs 840 crore!

Shares of the company have gained about 50 per cent in the last six months.

Garden Reach Shipbuilders & Engineers has received a letter of intent from the National Centre for Polar and Ocean Research (NCPOR) for the construction and delivery of an ocean research vessel. The total contract value is approximately Rs 840 crore, including taxes.

The company posted strong Quarterly Results in Q2FY24. The revenue of the company stood at Rs 897.91 crore which grew by 31.74 per cent YoY. The operating profit of the company stood at Rs 120.32 crore, while the PAT of the company stood at Rs 80.74 crore, representing an impressive growth of 37.48 per cent YoY.

Also read, Swing trading simplified: A guide to short-term trading strategies

The company has an order book of Rs 24,546 crore as of August 2023. The company is also actively bidding for new projects, including the 14 Hospital Vessel project and the 6 Ocean-Going Patrol Vessel project for the Indian Coast Guard. The stock has delivered multibagger returns of about 300 per cent in the last three years. Additionally, FIIs increased their stake in the company in September 2023.

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. GRSE is a diversified, profit-making and the first Shipyard in the country to export warships and deliver 100 warships to the Indian Navy and Indian Coast Guard.

Disclaimer: The article is for informational purposes only and not investment advice.