| Market Cap | ₹29,632.31 CrMid-cap |
|---|---|
| Revenue TTM | ₹7,506.9 CrAerospace & Defence |
| Day RSI | 48.12Neutral Zone |
| Order from | Oil and Natural Gas Corporation Limited (ONGC) |
| Execution period | 48 months |
| Deal value | ₹1,032.07 Cr |
| Share of market cap | 3.5% |
| Share of annual revenue | 13.7% |
Key highlights
- Contract value is fixed at ₹1,032.07 crore, inclusive of GST charges
- Scope includes the design, construction, and delivery of four Platform Supply Vessels
- Project execution timeline is set for 48 months from the date of the award notification
- Awarding entity is Oil and Natural Gas Corporation Limited (ONGC), a major domestic PSU
- The contract is an arm's length transaction with no promoter interest in the awarding entity
Project Scope and Delivery
Garden Reach Shipbuilders & Engineers Ltd (GRSE) has received a Notification of Award for the construction and delivery of four Platform Supply Vessels (PSVs) from Oil and Natural Gas Corporation Limited. These specialized vessels are engineered to provide logistics support for offshore oil and gas platforms, transporting essential materials, fuel, and personnel. The total project value is ₹1032.07 crore, including applicable GST.
The company is mandated to complete the construction and delivery of all four vessels within a 48-month period from the date of receipt of the notification.
Strategic Importance
- Strengthens GRSE's presence in the commercial and energy-focused maritime segment beyond traditional defense orders
- Provides significant revenue visibility over the next four fiscal years through the 48-month execution cycle
- Validates the shipbuilder's capability to deliver complex offshore support vessels for India's leading energy major
- The domestic nature of the entity ensures alignment with national self-reliance initiatives in maritime infrastructure
Financial and Market Context
The company has demonstrated strong financial momentum, reporting a trailing twelve-month (TTM) revenue of ₹7,506.9 crore and a net profit of ₹800.6 crore. GRSE's annual revenue growth stands at 34.49%, supported by a robust execution pipeline. In the latest quarter, the firm achieved a 38.53% year-on-year growth in operating revenue, significantly outpacing the sector average of 14.26%.
With a Piotroski Score of 7, the company exhibits strong financial health and operational efficiency as it integrates this new high-value order into its existing project portfolio.
Industry Landscape
- Growth in the Aerospace & Defence sector is driven by increased capital expenditure and indigenous procurement mandates
- Demand for offshore supply vessels is rising due to intensified exploration activities in deep-water energy blocks
- GRSE competes with other major state-owned shipyards in a sector characterized by high entry barriers and technical complexity
- The contract aligns with broader sectoral tailwinds supporting the modernization of India's maritime fleet
| Share price | ₹2586.8 |
|---|---|
| Market capitalisation | ₹29,632.31 Cr |
| Revenue (annual) | ₹7,002.16 Cr |
| Net profit (annual) | ₹747.93 Cr |
| Revenue (latest quarter) | ₹1,814.62 Cr-14.37% vs previous quarter |
| Net profit (latest quarter) | ₹172.84 Cr-43.00% vs previous quarter |
| P/E (TTM) | 37.01×Sector 59.66× |
| Promoter holding | 74.5%0.00% QoQ |
| FII holding | 3.21%Current quarter |
Reference market data from a third-party provider, as of the story. Not a valuation or a recommendation.
Exchange filing by Garden Reach Shipbuilders & Engineers Ltd announcing the receipt of a Notification of Award for four Platform Supply Vessels. Market figures from a third-party data provider.
