Garden Reach Shipbuilders & Engineers received a contract from the Ministry of Defence

Specializing in the building and maintenance of both military and commercial vessels, Garden Reach Shipbuilders & Engineers Ltd. (GRSE) is one of the top shipyards in India, situated in Kolkata. A subsidiary of the Ministry of Defence, GRSE primarily builds warships, frigates, and corvettes for anti-submarine warfare, as well as a variety of support ships like landing ship tanks and fleet tankers, to meet the requirements of the Indian Navy and Coast Guard. GRSE was founded as the Garden Reach Workshop during World War II and has a long history of building and maintaining more than 4,000 merchant and naval vessels. The shipyard is currently concentrated on growing its worldwide presence. It has a proven track record of producing over 785 platforms, including over 100 warships for the Indian Navy and Coast Guard.

GRSE was awarded the Rs. 491 crore order

A Rs. 491 crore order win from Naval Physical & Oceanographic Laboratory, Gol, Ministry of Defence DRDO, Kochi, propelled the increase in the share price of GRSE.

GRSE stated in an exchange filing that it had received letters of intent (LoI) from the Naval Physical & Oceanographic Laboratory, Gol, Ministry of Defence DRDO, Kochi, regarding the award of a contract for the design, development, construction, integration of equipment, testing, certification, commissioning, and supply of one Acoustic Research Ship (ARS).

GRSE was given a 36-month timeline

As per the terms of the order, GRSE will take care of the One Acoustic Research Ship (ARS)’s design, development, construction, equipment integration, testing, certification, commissioning, and supply.GRSE stated in a statement that the order is anticipated to be delivered within 36 months of the contract being signed.

GRSE was awarded a contract worth Rs. 226 crore earlier this month

The West Bengal government’s Transport Department awarded GRSE two contracts worth a combined 226.18 crore at the beginning of the month for the design, building, running, and maintenance of hybrid electric ferries as part of the WBIWTLSD Project.

GRSE Finance

Garden Reach Shipbuilders & Engineers (GRSE) reported a 13.71% increase in net profit to Rs 87.19 crore in Q1 FY25 compared to Rs 76.68 crore in Q1 FY24 on a standalone basis. The quarter ended June 30, 2024, saw a 33.58% YoY increase in revenue from operations to Rs 1,009.72 crore.

6% increase in Garden Reach Shipbuilders & Engineers Ltd.’s intraday stock

The share price of Garden Reach Shipbuilders & Engineers Ltd. was Rs. 1,870.00 today, an increase of nearly 6% in the intraday segment. The stock is currently trading at Rs. 1,821.00 per share, up over 3% from its previous price.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.