Garden Reach Shipbuilders (GRSE) Delivered 300% in 3 Years

Garden Reach Shipbuilders & Engineers Limited has delivered multibagger returns to its shareholders in the last three years. During this period, the company’s share price surged from Rs 193.30 on November 27, 2020, to Rs 833.80 on November 23, 2023, representing an increase of over 300% in the last three years. An investment of Rs 1 lakh in this company’s shares three years ago would have grown to Rs 4.00 lakh today.

Latest Development

GRSE has partnered with Shift Clean Energy, Seatech Solutions International, and ABS to develop electric tugs named E-VOLT 50. These tugs aim to reduce carbon emissions, improve operational efficiency, and set new standards for performance and environmental sustainability. GRSE will build the tugs based on Seatech’s design, with Shift providing energy storage and ABS ensuring compliance with regulatory standards. This collaboration marks a significant step towards a greener future for the maritime sector.

Financial Performance

Garden Reach Shipbuilders & Engineers Limited reported a strong second quarter for FY24, with net sales growth of 31.74% to Rs 897.91 crore, compared to Rs 681.60 crore in the same quarter last year. The operating profit also experienced a significant increase of 35.07%. The net profit for the quarter stood at Rs 80.74 crore, which was Rs 58.73 crore in the previous year’s same quarter. The company has a ROCE of 20.3% and an ROE of 16.4%.

Business Overview

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.

Stock Price Movement

Today, the stock opened at Rs 814.95, with a high and low of Rs 845 and Rs 806.45, respectively. The stock is currently trading at Rs 830.60, which increased by 3.17%. The stock has a 52-week high of Rs 973.95 and a 52-week low of Rs 390.70. The company has a market capitalization of Rs 9,531 crore.

The stock has shown impressive growth, and investors should keep a close eye on this stock.

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.