Garden Reach Shipbuilders & Engineers’ share price rallied 10% to an intra-day high of Rs 3,465.50 on the National Stock Exchange. The surge in the stock price came after GRSE signed a Memorandum of Understanding with Norway’s Kongsberg.
GRSE signs MoU for India’s 1st Polar Research Vessel
The signed MoU will pave the way for India to build its first-ever Polar Research Vessel (PRV) indigenously, according to an announcement by the Press Information Bureau (PIB).
Garden Reach Shipbuilders will receive design expertise for developing the Polar Research Vessel, as part of the MoU. The shipbuilder will take into account the requirement of the National Centre for Polar and Ocean Research, which will be utilising it for research work in the polar and southern ocean countries.
The expertise of constructing complex maritime platforms will be used by Garden Reach for the construction of warships and survey and research vessels to build this PRV at its yard in Kolkata.
“The vessel will be equipped with the latest scientific equipment, enabling our researchers to explore the oceans’ depths, study marine ecosystems, and unlock new insights into our planet’s past, present, and future,” said Sarbananda Sonowal, India’s Minister for Ports, Shipping and Waterways.
Garden Reach Shipbuilders Q4 results
The company reported a jump of 118% YoY in Q4FY25 in net profit at Rs 224 crore, compared with Rs 112 crore posted in the corresponding quarter of the last fiscal year. Garden Reach Shipbuilders’ revenue from operations saw a growth of 62% YoY to Rs 1,642 crore as against Rs 1,016 crore in the same quarter last year. Meanwhile, the company’s EBITDA surged 101% to Rs 335 crore in the fourth quarter of the financial year 2024-25.
Garden Reach Shipbuilders’ stock performance
The share price of Garden Reach Shipbuilders has risen 10.5% in the past five trading sessions. The stock has given a whopping 72% return in the last one month and 86.36% in the previous six months. The defence stock has raised investors’’ wealth by 156% in the past one year.