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    Reduce Garden Reach Shipbuilders & Engineers, target price Rs 385: ICICI Securities

    Synopsis

    Promoters held 74.5 per cent stake in the company as of 31-Dec-2022, while FIIs owned 2.52 per cent, DIIs 7.55 per cent.

    Garden Reach Shipbuilders & EngineersPTI
    Garden Reach Shipbuilders & Engineers, incorporated in the year 1934, is a Small Cap company (having a market cap of Rs 5237.89 Crore) operating in Shipping sector.
    ICICI Securities has reduce call on Garden Reach Shipbuilders & Engineers with a target price of Rs 385. The current market price of Garden Reach Shipbuilders & Engineers is Rs 457.5.

    Garden Reach Shipbuilders & Engineers, incorporated in the year 1934, is a Small Cap company (having a market cap of Rs 5237.89 Crore) operating in Shipping sector.

    Garden Reach Shipbuilders & Engineers key Products/Revenue Segments include Contract Revenue, Sale of Products, Sale of services, Scrap, Miscellaneous Income and Other Operating Revenue for the year ending 31-Mar-2022.

    Financials
    For the quarter ended 31-12-2022, the company has reported a Standalone Total Income of Rs 749.38 Crore, up 3.67 % from last quarter Total Income of Rs 722.84 Crore and up 41.20 % from last year same quarter Total Income of Rs 530.71 Crore. Company has reported net profit after tax of Rs 63.92 Crore in latest quarter.

    The company’s top management includes CommodoreP R Hari, Mr.Ramesh Kumar Dash, Mr.Shantanu Bose, Mr.Sanjeeb Mohanty, Mr.Sanjay Dattatraya Panse, Mr.Rajeev Prakash. Company has A Kayes & Co as its auditors. As on 31-12-2022, the company has a total of 11 Crore shares outstanding.

    Investment Rationale
    In case of Shipyards, the brokerage sees the awarding of Next Generation Offshore Patrol Vessels (NGOPV) as a respite for both GRSE and Goa Shipyard (also benefitting its HOLDCO- MDL) as delivery is expected from Sep,2026.

    Promoter/FII Holdings
    Promoters held 74.5 per cent stake in the company as of 31-Dec-2022, while FIIs owned 2.52 per cent, DIIs 7.55 per cent.



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    Top Trending Stocks: SBI Share Price, Axis Bank Share Price, HDFC Bank Share Price, Infosys Share Price, Wipro Share Price, NTPC Share Price

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