Garden Reach Shipbuilders & Engineers Ltd up by 15.81 percent | Espresso


Espresso Shot of the Day - Garden Reach Shipbuilders & Engineers Ltd up by 15.81 percent

September 07, 2022
Espresso Shot of the Day - Garden Reach Shipbuilders & Engineers Ltd up by 15.81 percent

GARDEN REACH SHIPBUILDERS & ENGINEERS LTD 352.25 (+15.81%) BSE – INE382Z01011 | 7th September 2022

The origin of GRSE dates back to 1884. Initially, the company was engaged in the business of operating shipbuilding and repair workshops as an unincorporated entity. It was incorporated as “Garden Reach Workshops Limited” on February 26, 1934, under the Companies Act, 1913 with the Registrar of Companies, Calcutta. It was named “Garden Reach Workshops Private Limited” on November 5, 1957. The organization was nationalized in 1960 and was soon brought under the fold of the Ministry of Defence. Since then, the share capital of the company has been wholly owned by the President of India along with its nominees from time to time. Following the government acquisition, the company name was changed to “Garden Reach Workshops Limited” on November 30, 1961. The name was again changed to “Garden Reach Shipbuilders & Engineers Limited” on December 31, 1976, following the certificate of incorporation issued by the Registrar of Companies, West Bengal. In a major development in the history of the company, GRSE became a public company after a special resolution of the shareholders at an Annual General Meeting held on August 25, 2017.

Recent Driver

  • On August 21 2022, Defence PSU Garden Reach Shipbuilders and Engineers Ltd announced it is making seven vessels for foreign countries, out of the 23 ships that are in the different stages of construction. The announcement was made by its chairman and managing director Commodore (retd) P R Hari said.
  • On July 29 2022,the company said that the parent company and its subsidiaries have bagged orders worth Rs.1,842 crores. The orders received are for metro rail electrification, composite railway project, Buildings & Factories (B&F) projects and in transmission and distribution (T&D) business in India.
  • On August 12 2022, GRSE reported a Quarterly Net Profit of Rs. 50.18 crores in June 2022, up 143.65% from Rs. 20.59 crores in June 2021.
  • On August 12 2022,GRSE reported Net Sales at Rs. 579.77 crores in June 2022, up 90.6% from Rs. 304.19 crores in June 2021
  • On July 15 2022, Garden Reach Shipbuilders and Engineers Ltd (GRSE) said it is in the process of constructing 15 warships for the Indian Navy and one for the Indian Coast Guard and is hopeful of delivering the project by FY27. According to Cmde PR Hari, IN (Retd.), Chairman and Managing Director, GRSE is presently executing an order book of approximately Rs.24,100 crores as on March 31, 2022, and working on two other significant projects for the Indian Navy, which include the development of four survey vessel large ships and eight ASW SWC ships.
  • On June 11th 2022,Commodore P R Hari, IN (Retd), took over as the Chairman & Managing Director of Garden Reach Shipbuilders & Engineers (GRSE) Ltd on Friday, said GRSE sources
  • The company declared a final dividend of 0.85 per Equity share for FY 2021-22 on May 25 2022, subject to approval by shareholders of the company.
 (Sources: BSE, Moneycontrol,Business Standard, Business Line)

Technical Force*

  • S&P Bse 500 month till date gain by 0.73%.
  • 3 months avg. NSE volume: 4,83,641
  • Quantity traded: 2,99,902| Deliverable Quantity: 59,662 (19.89%)
  • The stock price jumped by more than 80% from a one-year low level: 332.30 (Oct 1,2021)
  • Daily RSI (14) is at overbought territory today.
  • 52-week-high: 362.00|52-week-low: 186.30

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Some Key Ratios (Source: BSE)

Market Cap: 4,035.09crores

PE: 18.42

OPM%: 12.82

ROE%:  17.42

Promoters holding%: 74.50

Prev. Close:  304.15

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Chandresh Khona
by Chandresh Khona

Product Offerings Head

A teacher, writer, travel buff and now Espresso's Product Offerings Head. Ten years here has allowed me to lead the digital team at Sharekhan. My true passion lies in stock market charts.