Garden Reach Shipbuilders& Engineers announced that the Annual General Meeting (AGM) of the company will be held on 20 September 2024.Powered by Capital Market - Live

The said agreement entails the construction and delivery of Class 70R double lane bridges, designed exclusively by the company, to enhance connectivity in critical forward areas along India's borders, facilitating seamless troop and equipment deployment. Unparalleled in its innovation, the double-lane Steel Bridge developed by the company stands as the sole indigenous solution of its kind, in line with India's Aatmanirbhar Bharat Abhiyan. Under similar MoU signed with border roads organization (BRO), the company has already supplied 44 nos. Bridges Pan 'India. State-run GRSE is engaged in building warships and other vessels for the Indian Navy and Indian Coast Guard. It has also diversified into engineering business with a product profile of pre-fabricated steel bridges, various deck machinery items and assembly, as well as testing & overhauling of marine diesel engines. As on 30 June 2024, the Government of India holds 74.50% in the company. On standalone basis, Garden Reach Shipbuilders & Engineers (GRSE) reported 13.71% increase in net profit to Rs 87.19 crore in Q1 FY25 as against Rs 76.68 crore posted in Q1 FY24. Revenue from operations jumped 33.58% year on year (YoY) to Rs 1,009.72 crore in the quarter ended 30 June 2024.Powered by Capital Market - Live

Garden Reach Shipbuilders & Engineers (GRSE) achieved yet another momentous milestone by securing a groundbreaking deal with the National Highway Infrastructure Development Corporation (NHIDCL) for the fabrication, supply and launching of Double-Lane Class 70 modular steel & Bailey bridges. This landmark agreement entails the construction and delivery of Class 70R DoubleLane Bridges, designed exclusively by GRSE, to enhance connectivity in critical forward areas along India's borders, facilitating seamless troop and equipment deployment. Under similar MoU signed with Border Roads Organization (BRO), GRSE has already supplied 44 nos. Bridges Pan -India. The first bridge of this kind, was constructed at Flaghill, Dokalam, Sikkim at an altitude of 11,000 feet under Project Swastik of the BRO, inaugurated by Hon'ble Defence Minister Rajnath Singh on 28 December 2021. Powered by Capital Market - Live

The stock slipped 9.63% in the past two trading sessions to end at Rs 1,777.25 on yesterday, from its recent closing high of Rs 1966.70 recorded on 16 August 2024. On the BSE, 1.99 lakh shares were traded in the counter so far compared with average daily volumes of 1.13 lakh shares in the past two weeks. The stock hit a high of Rs 1,865.10 and a low of Rs 1,726.10 so far during the day. The stock hit a 52-week high of Rs 2,834.60 on 5 July 2024. The stock hit a 52-week low of Rs 648.05 on 26 October 2023. The stock had underperformed the market over the past one month, declining 29.51% compared with 0.3% increase in the Sensex. The scrip had outperformed the market in past three months, advancing 49.97% as against Sensex's 9.18% jump. The counter had outperformed the market in past one year, soaring 138.9% as against 23.81% rise in Sensex. On the technical front, the stock's daily RSI (relative strength index) stood at 34.097. The RSI oscillates between zero and 100. Traditionally, the RSI is considered overbought when above 70 and oversold when below 30. On the daily chart, the stock was trading below its 50-day simple moving average (SMA) placed at 2,147.35, respectively. Such level will act as resistance in the near term. State-run GRSE is engaged in building warships and other vessels for the Indian Navy and Indian Coast Guard. It has also diversified into engineering business with a product profile of pre-fabricated steel bridges, various deck machinery items and assembly, as well as testing & overhauling of marine diesel engines. As on 30 June 2024, the Government of India holds 74.50% in the company. The company reported 13.71% increase in sandalone net profit to Rs 87.19 crore in Q1 FY25 as against Rs 76.68 crore posted in Q1 FY24. Revenue from operations jumped 33.58% year on year (YoY) to Rs 1,009.72 crore in the quarter ended 30 June 2024.Powered by Capital Market - Live

Net profit of Garden Reach Shipbuilders & Engineers rose 13.71% to Rs 87.19 crore in the quarter ended June 2024 as against Rs 76.68 crore during the previous quarter ended June 2023. Sales rose 33.58% to Rs 1009.72 crore in the quarter ended June 2024 as against Rs 755.90 crore during the previous quarter ended June 2023. ParticularsQuarter EndedJun. 2024Jun. 2023% Var. Sales1009.72755.90 34 OPM %5.576.09 - PBDT125.88112.07 12 PBT115.44101.94 13 NP87.1976.68 14 Powered by Capital Market - Live

Garden Reach Shipbuilders& Engineers will hold a meeting of the Board of Directors of the Company on 8 August 2024.Powered by Capital Market - Live

Garden Reach Shipbuilders & Engineers has entered into the following two (2) numbers of non-binding MoUs: a) M/s Merlinhawk Aerospace for Collaboration towards development of composite Doors and Hatches for use in Naval Ships, Counter UAV Solution using EDFCS along with CRN 91, EOIRST for Surveillance, Composite Masts for Indian Navy Ships and Hydrogen fuel cells based power generation for maritime applications. b) M/s Kerala State Electronics Development Corporation (KELTRON) for establishing collaborative working arrangement towards development of core futuristic technologies in various fields to achieve self-reliance in certain areas of Under Water Surveillance. Powered by Capital Market - Live