Rs 25,111.29 crore order book: This multibagger shipbuilding company signs non-binding MoUs with Lloyd's Register and Caterpillar Inc!
The stock has delivered multibagger returns of over 100 per cent in just 6 months and over 150 per cent in 1 year.
Garden Reach Shipbuilders & Engineers Ltd informed that the company has participated in the Defence and Security Equipment International (DSEI) Exhibition in London (2023) and entered into the following two (2) numbers of non-binding MoUs which are confidential in nature.
a) M/s Lloyd's Register for development of a hydrogen fuel cell ferry.
b) M/s Caterpillar Inc. for potential collaboration in the production, sale and service of medium-speed engines, particularly for the Indian Navy and Indian Coast Guard.
Order Book Updates: As of 31 Mar 2023, the company has an order book of Rs 25,111.29 crore which comprises Rs 24,856.79 crore for the shipbuilding division and Rs 254.50 crore for the engineering and engine division.
Additionally, the company reported positive numbers in its Quarterly Results (Q1FY23) and annual results (FY23). The net sales increased by 30.35 per cent to Rs 756 crore and the profit increased by 54 per cent to Rs 77 crore in Q1FY24 over Q1FY23. The net sales increased by 46 per cent to Rs 2,561 crore and net profit increased by 20 per cent to Rs 228 crore in FY23 over FY22. The EPS stood at Rs 19.91 in FY23.
Furthermore, the company has declared an interim dividend of 62 per cent of paid-up share capital against 55 per cent of the previous year.
Garden Reach Shipbuilders & Engineers Ltd is a premier shipbuilding company in India, operating under the administrative control of the Ministry of Defence. It primarily caters to the shipbuilding requirements of the Indian Navy and the Indian Coast Guard.
On Thursday, shares of Garden Reach Shipbuilders & Engineers plunged 1.59 per cent, reaching Rs 830.1 per share, with an intraday high of Rs 849.95 and an intraday low of Rs 818.1.
The stock has delivered multibagger returns of over 100 per cent in just 6 months and over 150 per cent in 1 year. Investors should keep a close watch on this Small-Cap stock.
Disclaimer: The article is for informational purposes only and not investment advice.
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