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Garden Reach Shipbuilders Q1 Review - Inline; Order Execution Is Likely To Peak Out In FY26E: ICICI Securities

Factoring in the best possible outcome for the company in NGC and P-17B frigate orders and other potential orders flowing in in time, the brokerage finds EPS constrained between Rs 55–65.

<div class="paragraphs"><p>Garden Reach Shipbuilders and Engineers Ltd. dockyard in Rajabagan, Kolkata. (Source: Company website)</p></div>
Garden Reach Shipbuilders and Engineers Ltd. dockyard in Rajabagan, Kolkata. (Source: Company website)
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