Shares of Garden Reach Shipbuilders and Engineers have delivered around 150% return in the last two years. The stock has surged 347% since its listing in October 2018
Garden Reach Shipbuilders and Engineers is a PCMM Level-2 certified warship building company under the administrative control of the Ministry of Defence. In 1884, it started its journey as a small workshop to repair vessels of the River Steam Navigation Company
Garden Reach Shipbuilders and Engineers was the first Indian shipyard company to build a warship for the Indian Navy, the Seaward Defence Boat (SDB) INS Ajay way back in 1961. It also built the first ever Indian Export Warship ‘CGS Barracuda’
HDFC Securities believes that the company has the ability to sustain the overall performance at the present level in a competitive environment while maintaining leadership in warship building and retaining its largely debt-free status with comfortable liquidity
Investors could buy the stock in the Rs 450-460 band and add more on dips to Rs 401-409 bands. The base case fair value of the stock is Rs 501 and the bull case fair value of the stock is Rs 540 over the next two to three quarters, says HDFC Securities
Garden Reach Shipbuilders achieved an annual turnover to the tune of Rs 2,550 crore for FY23, the first time in the company’s history of 63 years
Garden Reach Shipbuilders and Engineers posted a net profit of Rs 63.92 crore for the quarter ended December 2022, as against a net profit of Rs 62.94 crore for the same quarter last year
Veteran Dalal Street investor Ramesh Damani owned 12,51,156 equity shares or a 1.09 per cent stake in the company as on December 31, 2022. His stake in Garden Reach Shipbuilders is worth Rs 61 crore
The content in the story is for information purposes only. Investors or market participants should consult their financial advisors before taking any position