Garden Reach Shipbuilders will report its earnings for the quarter ended June on August 8.

What To Expect: Antique Broking in its preview note said that the defence company is expected to go up 29% from the previous figures to ₹975.9 crore. The net profit of the company is seen at ₹92.9 crore, down around 8% from the previous year’s numbers.

Earlier this week, the company said that it had entered into a non-binding Memorandum of Understanding (MoU) with Medha Servo Drives Pvt Ltd. The collaboration is aimed at the joint manufacturing of advanced electrical and electronic equipment and systems.

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Earlier this month, the company announced a collaboration with Merlinhawk Aerospace and KELTRON, focusing on developing advanced technologies for naval applications. These include composite doors and hatches for naval ships, counter UAV solutions, composite masts for Indian Navy vessels, and hydrogen fuel cell-based power generation for maritime use.

The shipbuilding company also secured an ₹840 crore contract from the National Centre for Polar & Ocean Research for constructing an ocean research vessel. Additionally, the company is reportedly competing for a significant ₹70,000 crore warship order from the Defence Ministry, alongside Mazagon Dock Shipbuilders.

Price Action: GRSE’s share price was down 1.39% to close at ₹2,405.55 on Wednesday.

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