GRSE Shares Surge 10% On Norways Polar Research Vessel Order; Stock Zooms 194% From March Low
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Multibagger defence stock Garden Reach Shipbuilders & Engineers (GRSE) surged nearly 10% in intra-day trading on Wednesday
GRSE Stock Price: Multibagger defence stock Garden Reach Shipbuilders & Engineers (GRSE) surged nearly 10% in intra-day trading on Wednesday, June 4, hitting its upper circuit limit and marking a fresh 52-week high. This surge follows a significant order win from Norway-based Kongsberg.
Since March 2025, GRSE has delivered a staggering 194% gain, outperforming the broader market for the fourth month in a row.
According to an official statement, the partnership between GRSE and Kongsberg will enable India to build its first-ever indigenously developed Polar Research Vessel (PRV).
'The MoU between GRSE and Kongsberg marks an important milestone for India's shipbuilding sector, bringing in design expertise for the PRV to meet the needs of the National Centre for Polar and Ocean Research (NCOPR)," the statement said.
With its proven track record in constructing complex maritime platforms, such as warships and research vessels, GRSE will build this PRV at its Kolkata yard, bolstering the government's Make in India initiative.
GRSE Stock Performance
The defence PSU's stock opened at Rs 3,184, higher than its previous close of Rs 3,149.90. It climbed further to Rs 3,464.85, up 9.99%.
The rally in GRSE shares aligns with broader gains in defence counters following Operation Sindoor. The stock has surged 104% year-to-date (YTD) and is up 168% in just three months.
According to Jigar S Patel, Senior Manager – Technical Research at Anand Rathi Shares and Stock Brokers, GRSE appears overextended at the current level, having rallied around 192% from its March low of Rs 1,185.
In the March quarter of FY25, GRSE reported a strong net profit of Rs 244 crore, a sharp rise from Rs 111.6 crore a year earlier. Revenue grew 62% year-on-year to Rs 1,642 crore, up from Rs 1,015.7 crore.
On the operational front, EBITDA jumped 145% to Rs 220.95 crore from Rs 90.35 crore a year ago. Operating margins improved to 13.5% from 8.9%.
The company's board has recommended a final dividend of Rs 4.9 per share for FY25, pending shareholder approval at the upcoming AGM.
Cmde Hari PR, IN (Retd), Chairman and Managing Director of GRSE, commented:
'Happy to report yet another set of strong numbers. With our robust order book, mature execution of ongoing projects, and growing visibility in defence and commercial shipbuilding, I'm confident of an even stronger performance this year."
Over the past month alone, GRSE shares have jumped more than 60%, far outpacing the Nifty 50 index, which managed only a 0.3% rise in the same period.
First Published:
June 04, 2025, 12:51 IST
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