Sell Garden Reach Shipbuilders & Engineers, target price Rs 500: ICICI Securities

ICICI Securities has sell call on Garden Reach Shipbuilders & Engineers with a target price of Rs 500.
The current market price of Garden Reach Shipbuilders & Engineers Ltd. is Rs 763.35 .

Garden Reach Shipbuilders & Engineers Ltd., incorporated in the year 1934, is a Small Cap company (having a market cap of Rs 8809.05 Crore) operating in Shipping sector.


Garden Reach Shipbuilders & Engineers Ltd. key Products/Revenue Segments include Contract Revenue, Sale of Products, Sale of services, Scrap, Other Operating Revenue and Miscellaneous Income for the year ending 31-Mar-2023.


Financials
For the quarter ended 31-12-2023, the company has reported a Standalone Total Income of Rs 1004.61 Crore, up 3.63 % from last quarter Total Income of Rs 969.46 Crore and up 34.06 % from last year same quarter Total Income of Rs 749.38 Crore. Company has reported net profit after tax of Rs 88.25 Crore in latest quarter.


Promoter/FII Holdings
Promoters held 74.5 per cent stake in the company as of 31-Dec-2023, while FIIs owned 2.86 per cent, DIIs 6.03 per cent.