Buy Garden Reach Shipbuilders & Engineers, target price Rs 566: Axis Securities

Axis Securities has buy call on Garden Reach Shipbuilders & Engineers with a target price of Rs 566. The current market price of Garden Reach Shipbuilders & Engineers Ltd. is Rs 470.9.

Garden Reach Shipbuilders & Engineers Ltd., incorporated in the year 1934, is a Small Cap company (having a market cap of Rs 5328.96 Crore) operating in Shipping sector.

Garden Reach Shipbuilders & Engineers Ltd. key Products/Revenue Segments include Contract Revenue, Sale of Products, Sale of services, Scrap, Miscellaneous Income and Other Operating Revenue for the year ending 31-Mar-2022.



Financials
For the quarter ended 30-06-2022, the company reported a Standalone Total Income of Rs 620.62 Crore, up 6.09 % from last quarter Total Income of Rs 585.00 Crore and up 80.41 % from last year same quarter Total Income of Rs 344.01 Crore. Company reported net profit after tax of Rs 50.18 Crore in latest quarter.

Investment Rationale
Strong up trend across all the time frames forming a series of higher tops and bottoms.


Promoter/FII Holdings
Promoters held 74.5 per cent stake in the company as of 30-Jun-2022, while FIIs owned 1.76 per cent, DIIs 9.16 per cent.