Aerospace & Defence · GRSE
Ship - Docks/Breaking/Repairs
from 2,599 today
We revise our target price to INR 2,990 based on an unchanged core target P/E multiple of 40x 1HFY29E earnings, supported by a robust order pipeline and multi-year revenue visibility. Maintain BUY.
Garden Reach Shipbuilders & Engineers reported a broadly in-line 1QFY27 performance driven by P17A Frigate and Anti-submarine warfare corvette execution. Backed by a strong execution pipeline, a healthy defence order outlook, and improving commercial shipbuilding opportunities, we maintain our BUY rating with a revised target price of INR 2,990.
Ratings and target prices as published by each firm. Each summary condenses that firm's stated view in its own note and is attributed to it; no report text is reproduced.
