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Garden Reach Shipbuilders & Engineers Ltd.
NSE: GRSE · Capital Goods
₹2,135.70-0.07%06 Nov 2026
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Instant answers about Garden Reach Shipbuilders & Engineers Ltd. — computed from its filings, no language modelMarket cap₹24,465 cr
Current price₹2,135.70
High / Low₹3,094 / ₹1,861
P/E30.6
P/B9.32
Book value₹229.3
ROE30.5%
ROCE41.3%
Debt / equity0.00
Dividend yield0.83%
EPS (TTM)₹69.89
Face value₹10
Price & valuation
split & bonus adjusted · pick a metric and rangeAnnual performance
annual · ₹ crore · line = operating margin| FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | FY26 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | 1,386 | 1,433 | 1,141 | 1,758 | 2,561 | 3,593 | 5,076 | 7,002 |
| EBITDA | 42 | 40 | 72 | 141 | 149 | 234 | 421 | 795 |
| Operating margin | 3.0% | 2.8% | 6.3% | 8.0% | 5.8% | 6.5% | 8.3% | 11.4% |
| Interest | 5 | 1 | 3 | 1 | 6 | 11 | 10 | 16 |
| Depreciation | 27 | 30 | 29 | 36 | 39 | 41 | 42 | 49 |
| Profit before tax | 179 | 224 | 207 | 257 | 305 | 481 | 703 | 1,005 |
| Tax | 69 | 60 | 54 | 68 | 77 | 124 | 176 | 257 |
| Net profit | 110 | 163 | 153 | 190 | 228 | 357 | 527 | 748 |
| EPS ₹ | 9.60 | 14.27 | 13.40 | 16.55 | 19.91 | 31.19 | 46.04 | 65.29 |
| Operating cash flow | — | — | — | -356 | 1,450 | -707 | 16 | -290 |
| Capex | — | — | — | 55 | 42 | 48 | 67 | 77 |
| Dividend paid | — | — | — | 70 | 73 | 99 | 119 | 204 |
| Total assets | 4,190 | 5,384 | 6,783 | 7,636 | 10,776 | 10,252 | 10,354 | 10,636 |
| Equity | 1,038 | 1,040 | 1,137 | 1,258 | 1,414 | 1,673 | 2,079 | 2,626 |
Quarterly performance
last 31 quarters · ₹ crore| DEC '18 | MAR '19 | JUN '19 | SEP '19 | DEC '19 | MAR '20 | JUN '20 | SEP '20 | DEC '20 | MAR '21 | JUN '21 | SEP '21 | DEC '21 | MAR '22 | JUN '22 | SEP '22 | DEC '22 | MAR '23 | JUN '23 | SEP '23 | DEC '23 | MAR '24 | JUN '24 | SEP '24 | DEC '24 | MAR '25 | JUN '25 | SEP '25 | DEC '25 | MAR '26 | JUN '26 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | 489 | 489 | 168 | 439 | 370 | 457 | 110 | 272 | 360 | 399 | 304 | 422 | 487 | 545 | 580 | 682 | 699 | 601 | 756 | 898 | 923 | 1,016 | 1,010 | 1,153 | 1,271 | 1,642 | 1,310 | 1,677 | 1,896 | 2,119 | 1,815 |
| Operating profit | 41 | 31 | -8 | 15 | -1 | 35 | -40 | 33 | 42 | 38 | 2 | 55 | 52 | 33 | 33 | 48 | 47 | 20 | 46 | 49 | 49 | 91 | 56 | 69 | 75 | 221 | 112 | 156 | 172 | 355 | 149 |
| Operating margin | 8.4% | 6.4% | -4.8% | 3.5% | -0.3% | 7.6% | -36.8% | 12.3% | 11.6% | 9.4% | 0.7% | 13.0% | 10.7% | 6.0% | 5.8% | 7.1% | 6.7% | 3.4% | 6.1% | 5.4% | 5.3% | 8.9% | 5.6% | 6.0% | 5.9% | 13.5% | 8.5% | 9.3% | 9.1% | 16.8% | 8.2% |
| Other income | 42 | 50 | 51 | 70 | 51 | 53 | 50 | 47 | 39 | 51 | 40 | 36 | 44 | 40 | 41 | 41 | 50 | 70 | 71 | 72 | 82 | 76 | 74 | 75 | 72 | 114 | 73 | 69 | 62 | 71 | 100 |
| Interest | 2 | 1 | 0 | 0 | 1 | -0 | 0 | 0 | 0 | 2 | 0 | 1 | 0 | 0 | 1 | 1 | 1 | 4 | 5 | 2 | 1 | 3 | 4 | 2 | 2 | 1 | 6 | 4 | 4 | 3 | 4 |
| Depreciation | 7 | 7 | 7 | 8 | 7 | 8 | 8 | 6 | 8 | 8 | 7 | 9 | 10 | 10 | 9 | 10 | 10 | 10 | 10 | 10 | 10 | 10 | 10 | 11 | 11 | 10 | 12 | 12 | 12 | 13 | 14 |
| Profit before tax | 71 | 73 | 36 | 77 | 41 | 69 | 2 | 54 | 73 | 79 | 26 | 82 | 86 | 63 | 64 | 79 | 86 | 76 | 102 | 107 | 119 | 153 | 115 | 131 | 134 | 324 | 167 | 209 | 218 | 411 | 232 |
| Tax | 26 | 39 | 11 | 18 | 12 | 19 | 2 | 16 | 15 | 21 | 6 | 23 | 23 | 16 | 14 | 20 | 22 | 21 | 25 | 27 | 30 | 41 | 28 | 33 | 36 | 79 | 47 | 56 | 47 | 108 | 59 |
| Net profit | 45 | 34 | 25 | 59 | 0 | 50 | 0 | 38 | 58 | 58 | 21 | 59 | 63 | 47 | 50 | 59 | 64 | 55 | 77 | 81 | 88 | 112 | 87 | 98 | 98 | 244 | 120 | 154 | 171 | 303 | 173 |
| EPS ₹ | 3.92 | 2.94 | 2.21 | 5.15 | 2.57 | 4.34 | 0.01 | 3.29 | 5.03 | 5.06 | 1.80 | 5.13 | 5.49 | 4.12 | 4.38 | 5.13 | 5.58 | 4.83 | 6.69 | 7.05 | 7.70 | 9.74 | 7.61 | 8.54 | 8.57 | 21.32 | 10.49 | 13.43 | 14.91 | 26.47 | 15.09 |
| Revenue YoY | — | — | — | — | -24.3% | -6.6% | -34.5% | -37.9% | -2.7% | -12.7% | 176.6% | 54.8% | 35.4% | 36.6% | 90.6% | 61.7% | 43.6% | 10.4% | 30.4% | 31.7% | 32.0% | 69.0% | 33.6% | 28.4% | 37.7% | 61.7% | 29.7% | 45.5% | 49.1% | 29.1% | 38.5% |
| Profit YoY | — | — | — | — | -100.0% | 47.8% | -99.4% | -36.1% | — | 16.7% | 13626.7% | 55.9% | 9.3% | -18.6% | 143.7% | -0.1% | 1.5% | 17.2% | 52.8% | 37.5% | 38.1% | 101.8% | 13.7% | 21.1% | 11.3% | 118.9% | 37.8% | 57.3% | 73.9% | 24.1% | 43.8% |
Returns & margins
trailing-twelve-month, per quarter| SEP '19 | DEC '19 | MAR '20 | JUN '20 | SEP '20 | DEC '20 | MAR '21 | JUN '21 | SEP '21 | DEC '21 | MAR '22 | JUN '22 | SEP '22 | DEC '22 | MAR '23 | JUN '23 | SEP '23 | DEC '23 | MAR '24 | JUN '24 | SEP '24 | DEC '24 | MAR '25 | JUN '25 | SEP '25 | DEC '25 | MAR '26 | JUN '26 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 15.7% | 11.4% | 12.9% | 10.5% | 8.4% | 14.0% | 13.5% | 15.3% | 17.1% | 17.6% | 15.1% | 17.4% | 16.1% | 16.2% | 16.1% | 18.0% | 17.7% | 19.2% | 21.3% | 22.0% | 20.9% | 21.4% | 25.4% | 27.0% | 26.8% | 30.0% | 28.5% | 30.5% |
| ROCE | 25.2% | 22.2% | 21.6% | 18.3% | 16.1% | 19.0% | 18.5% | 20.6% | 23.1% | 24.2% | 20.5% | 23.6% | 21.6% | 21.7% | 18.2% | 20.6% | 24.6% | 26.7% | 28.5% | 29.2% | 28.7% | 29.6% | 34.3% | 36.9% | 36.9% | 40.6% | 38.9% | 41.3% |
| Net margin | 10.3% | 8.0% | 9.3% | 7.9% | 7.2% | 12.1% | 13.5% | 13.0% | 13.1% | 12.4% | 10.8% | 10.8% | 9.6% | 8.8% | 8.9% | 9.3% | 9.4% | 9.5% | 9.9% | 9.6% | 9.4% | 8.9% | 10.4% | 10.4% | 10.4% | 10.6% | 10.7% | 10.7% |
| EBITDA margin | 5.0% | 2.5% | 2.8% | 0.6% | 2.2% | 5.8% | 6.3% | 8.6% | 9.2% | 9.1% | 8.1% | 8.5% | 7.3% | 6.4% | 5.8% | 5.9% | 5.5% | 5.2% | 6.5% | 6.4% | 6.4% | 6.5% | 8.3% | 8.9% | 9.6% | 10.1% | 11.4% | 11.1% |
| Debt / equity | — | — | — | — | — | — | — | — | — | — | — | — | 0.00 | 0.00 | 0.21 | 0.21 | 0.00 | 0.00 | 0.03 | 0.03 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Interest coverage | 60.06 | 75.18 | 168.06 | 144.47 | 162.37 | 1099.44 | 77.71 | 81.21 | 78.04 | 88.09 | 224.69 | 204.47 | 217.41 | 112.49 | 48.17 | 33.69 | 30.92 | 33.93 | 42.82 | 45.50 | 47.87 | 44.58 | 69.15 | 63.00 | 63.29 | 62.74 | 63.33 | 78.56 |
| Asset turnover | 0.38 | 0.35 | 0.27 | 0.26 | 0.22 | 0.22 | 0.17 | 0.20 | 0.22 | 0.24 | 0.23 | 0.27 | 0.26 | 0.29 | 0.24 | 0.25 | 0.27 | 0.29 | 0.35 | 0.38 | 0.41 | 0.44 | 0.49 | 0.52 | 0.54 | 0.59 | 0.66 | 0.71 |
Balance sheet
equity vs borrowings over time · ₹ crore| MAR '18‡ | MAR '19‡ | MAR '20‡ | MAR '21‡ | MAR '22‡ | SEP '22 | MAR '23 | SEP '23 | MAR '24 | SEP '24 | MAR '25 | SEP '25 | MAR '26 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Share capital | 115 | 115 | 115 | 115 | 115 | 115 | 115 | 115 | 115 | 115 | 115 | 115 | 115 |
| Other equity / reserves | 907 | 924 | 926 | 1,023 | 1,143 | 1,246 | 1,299 | 1,449 | 1,559 | 1,728 | 1,965 | 2,181 | 2,512 |
| Total equity | 1,022 | 1,038 | 1,040 | 1,137 | 1,258 | 1,360 | 1,414 | 1,563 | 1,673 | 1,842 | 2,079 | 2,296 | 2,626 |
| Borrowings | — | — | — | — | — | 0 | 301 | 0 | 56 | 0 | 0 | 0 | 0 |
| Current liabilities | 3,217 | 3,068 | 4,247 | 5,548 | 6,260 | 7,195 | 9,241 | 9,391 | 8,456 | 8,092 | 8,149 | 8,535 | 7,859 |
| Non-current liabilities | 80 | 83 | 97 | 98 | 118 | 120 | 121 | 122 | 122 | 124 | 126 | 153 | 151 |
| Total assets | 4,319 | 4,190 | 5,384 | 6,783 | 7,636 | 8,675 | 10,776 | 11,076 | 10,252 | 10,059 | 10,354 | 10,984 | 10,636 |
| Property, plant & equipment | 383 | 297 | 299 | 331 | 483 | 486 | 499 | 489 | 485 | 484 | 499 | 538 | 557 |
| Capital work-in-progress | 16 | 34 | 52 | 151 | 10 | 20 | 5 | 9 | 12 | 15 | 21 | 18 | 16 |
| Investments | 0 | 2 | 54 | 826 | 197 | 192 | 234 | 256 | 0 | 187 | 0 | 0 | 0 |
| Inventories | 513 | 350 | 441 | 788 | 1,172 | 1,367 | 2,918 | 2,725 | 3,984 | 3,739 | 3,552 | 3,270 | 3,402 |
| Receivables | 202 | 220 | 535 | 178 | 155 | 53 | 51 | 117 | 194 | 246 | 259 | 779 | 1,221 |
| Cash & equivalents | 12 | 9 | 729 | 9 | 10 | 5 | 14 | 9 | 5 | 7 | 4 | 7 | 17 |
Cash flow
annual · ₹ crore · line = free cash flow| FY20‡ | FY21‡ | FY22 | FY23 | FY24 | FY25 | FY26 | |
|---|---|---|---|---|---|---|---|
| Cash from operations | 628 | 515 | -356 | 1,450 | -707 | 16 | -290 |
| Cash from investing | 245 | -1,173 | 428 | -1,666 | 1,056 | 170 | 527 |
| Cash from financing | -153 | -62 | -72 | 220 | -358 | -187 | -223 |
| Capex | 67 | 164 | 55 | 42 | 48 | 67 | 77 |
| Free cash flow | 560 | 351 | -411 | 1,408 | -755 | -51 | -367 |
| Dividends paid | 70 | 16 | 70 | 73 | 99 | 119 | 204 |
Where the assets sit
Mar '26 · ₹ croreFixed assets (PPE)₹557 cr5%
CWIP₹16 cr0%
Inventories₹3,402 cr32%
Receivables₹1,221 cr11%
Cash & equivalents₹17 cr0%
Other assets₹5,423 cr51%
Peer comparison
largest in Capital Goods · this company in bold| Company | Market cap ₹cr | Price | P/E | P/B | ROE |
|---|---|---|---|---|---|
| Hindustan Aeronautics Ltd. | 3,33,052 | 4,980.00 | 35.7 | 8.12 | 22.7% |
| Bharat Electronics Ltd. | 2,89,468 | 396.00 | 45.2 | 11.02 | 24.4% |
| Tata Motors Ltd. | 1,56,797 | 425.50 | 24.8 | 10.26 | 41.3% |
| Bharat Heavy Electricals Ltd. | 1,45,828 | 418.80 | 50.7 | 5.45 | 10.8% |
| ABB India Ltd. | 1,43,541 | 6,774.00 | 55.7 | 15.37 | 27.6% |
| Siemens Ltd. | 1,26,736 | 3,560.00 | 28.2 | 8.02 | 28.4% |
| Hitachi Energy India Ltd. | 1,23,988 | 27,800.00 | 107.8 | 23.95 | 22.2% |
| CG Power and Industrial Solutions Ltd. | 1,21,786 | 773.00 | 89.1 | 13.94 | 15.6% |
| Polycab India Ltd. | 1,18,610 | 7,871.00 | 37.6 | 9.06 | 24.1% |
| Cummins India Ltd. | 1,12,233 | 4,048.80 | 49.8 | 13.52 | 27.1% |
| Garden Reach Shipbuilders & Engineers Ltd. | 24,465 | 2,135.70 | 30.6 | 9.32 | 30.5% |
StoxGud checklist: Neutral setup · 6/10
- Price above 50-day average
- Price above 200-day average
- 50-day average above 200-day (uptrend)
- RSI in healthy 40–70 zone
- Positive 1-year return
- Return on equity above 15%
- Debt to equity below 1
- Revenue growing year on year
- Net profit margin above 10%
- P/E below industry median
A rules-based screen of trend, momentum, quality and valuation. Educational only — not a buy or sell recommendation.
Returns & technicals
1 month+1.6%
6 months-31.0%
1 year-16.8%
3Y CAGR+40.9%
5Y CAGR+52.0%
10Y CAGR—
50-day avg₹2,239.50
200-day avg₹2,494.34
RSI (14)51
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FAQs
What is the share price of Garden Reach Shipbuilders & Engineers Ltd.?
Garden Reach Shipbuilders & Engineers Ltd. (GRSE) closed at ₹2,135.70 on NSE on 06 Nov 2026.
What is the market cap of Garden Reach Shipbuilders & Engineers Ltd.?
₹24,465 crore at the latest close.
What is the P/E ratio of Garden Reach Shipbuilders & Engineers Ltd.?
30.6, on trailing-twelve-month earnings from its filings.
How fast is Garden Reach Shipbuilders & Engineers Ltd. growing?
Garden Reach Shipbuilders & Engineers Ltd.: revenue has compounded at 39.8% a year over three years; net profit at 48.6% a year. Latest-quarter revenue is up 38.5% year on year, profit up 43.8%.
How profitable is Garden Reach Shipbuilders & Engineers Ltd.?
On a trailing-twelve-month basis return on equity is 30.5%, return on capital employed 41.3%, operating margin 11.1%, net margin 10.7%.
How much debt does Garden Reach Shipbuilders & Engineers Ltd. have?
Garden Reach Shipbuilders & Engineers Ltd. is debt-free: debt to equity is 0.00 with borrowings of ₹0 cr against cash of ₹17 cr (balance sheet of 2026-03-31). Operating profit covers interest 78.6 times.
Financials parsed from Garden Reach Shipbuilders & Engineers Ltd.'s own XBRL filings to NSE (standalone), ₹ crore unless marked. Quarterly from DEC '18, annual from FY19, balance sheet from Mar '18. * = derived (full year or half year minus earlier quarters). ‡ = balance sheet / cash flow read from the company's published annual report (same basis), for years before the NSE filings carry them; each one checked to add up. Information only, not investment advice.
Garden Reach Shipbuilders & Engineers Ltd. · advanced chart