Garden Reach Shipbuilders & Engineers Limited
₹1,942.65+₹20.25 (+1.1%)
Last close · Data as of Oct 30, 2026
- Market cap
- ₹28,034 Cr
- P/E
- 45.5x
- EV / EBITDA
- 48.9x
- Revenue
- ₹5,076 Cr
- Net margin
- 9.9%
- ROCE
- 13.5%
Price chart
Technical chartScreen technicals →-24.0% over the last year
Daily closes.
Go deeper
Technical chart: candles, 9 moving averages, RSI, MACD and drawing tools
Performance
Price change over each period, before dividends.
- 1M
- -11.0%
- 3M
- -24.9%
- 6M
- -33.8%
- 1Y
- -24.0%
- 5Y
- +642.0%
52-week range
Day change +₹20.25 (+1.1%) from ₹1,922 to ₹1,943 · Last close Oct 30, 2026
Best weekday to invest, historically
The same weekly amount in GRSE, bought on each weekday since 2021.
AI Summary
Indian StockStrengths1
- Strong 5-year revenue CAGR of 20.2%
Concerns1
- Other income is 62.4% of PBT — a large share of earnings is non-operating
Rule-based from financial data. Not advice.
About the company
Garden Reach Shipbuilders & Engineers Limited engages in the design and construction of war ships in India.
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Garden Reach Shipbuilders & Engineers Limited engages in the design and construction of war ships in India. The company offers frigates, anti-submarine warfare corvette, missile corvette, landing ship tank, landing craft utility, survey vessel, fleet replenishment tanker, fast patrol vessel, offshore patrol vessel, inshore patrol vessel, water jet fast attack craft, anti-submarine warfare shallow water craft, electric ferries, ocean going passenger and cargo ferry vessel, hovercraft, and fast interceptor boat products to the Indian Navy, Indian Coast Guard, and other government. It also provides unmanned surface vessels, autonomous underwater vessels, ship-based drones, and green platforms and naval surface guns. In addition, the company offers portable bridges; and deck machinery equipment, such as anchor capstans and windlass, mooring and dock capstans, general-purpose and ammunition davits, electric boats and electro-hydraulic drive deck machinery products, survey vessels, hydrographic and oceanographic surveys, helicopter traversing systems, and dock capstans and winches. Further, it engages in the assembling, overhauling, and testing of marine diesel engines, as well as provides dry docking and afloat maintenance, refit, and repair services for defense and commercial ships. The company was founded in 1884 and is based in Kolkata, India.
- Sector
- Construction & Real Estate
- Shares outstanding
- 11.4 Cr shares
- ISIN
- INE382Z01011
- BSE code
- 542011
Key statistics
Screen fundamentals →Valuation, profitability, growth and solvency at the latest close; hover a label for its meaning.
Valuation
- Market cap
- ₹28,034 Cr
- P/E
- 45.5x
- P/B
- 12.2x
- EV / EBITDA
- 48.9x
- EV / Sales
- 7.3x
- P/S
- 7.8x
- Earnings yield
- 2.2%
- 52-week high
- ₹3,095.50
- 52-week low
- ₹1,861.65
Profitability
- Operating margin
- 6.5%
- Net margin
- 9.9%
- EBITDA margin
- 14.9%
- ROE
- 21.3%
- ROCE
- 13.5%
- ROA
- 3.5%
- Dividend payout
- 30.0%
- Tax rate
- 26.0%
- Other income, % of PBT
- 62.4%
Growth
- RevenueLatest stored company figure. It is not dated and can be a year behind the FY2025 statements; the Growth card lists each year.
- ₹5,076 Cr
- Revenue growth, 1YLatest stored company figure. It is not dated and can be a year behind the FY2025 statements; the Growth card lists each year.
- 41.3%
- Revenue CAGR, 5YLatest stored company figure. It is not dated and can be a year behind the FY2025 statements; the Growth card lists each year.
- 20.2%
- EBITDALatest stored company figure. It is not dated and can be a year behind the FY2025 statements; the Growth card lists each year.
- ₹535 Cr
- EBITDA growth, 1YLatest stored company figure. It is not dated and can be a year behind the FY2025 statements; the Growth card lists each year.
- 52.4%
- Net profit growth, 1YLatest stored company figure. It is not dated and can be a year behind the FY2025 statements; the Growth card lists each year.
- 47.6%
- Net profit CAGR, 5YLatest stored company figure. It is not dated and can be a year behind the FY2025 statements; the Growth card lists each year.
- 17.0%
- Cash from operationsLatest stored company figure. It is not dated and can be a year behind the FY2025 statements; the Growth card lists each year.
- -₹707 Cr
- CFO growth, 1YLatest stored company figure. It is not dated and can be a year behind the FY2025 statements; the Growth card lists each year.
- -148.8%
- Free cash flowLatest stored company figure. It is not dated and can be a year behind the FY2025 statements; the Growth card lists each year.
- -₹1.00 Cr
- Asset growth, 1YLatest stored company figure. It is not dated and can be a year behind the FY2025 statements; the Growth card lists each year.
- -4.8%
Solvency and efficiency
- Current ratio
- 1.14
- Debt / Equity
- 0.04
- Debt / Assets
- 0.01
- Debt / EBITDA
- 0.12
- Interest coverage
- 18.08
- Financial leverage
- 6.13
- CFO / Net profit
- -1.98
- Cash / Market cap
- 34.8%
- Cash per share
- ₹851.39
- Asset turnover
- 0.35
- Fixed asset turnover
- 7.29
- Capital intensity
- 0.14
- Debtor days
- 20 days
- Inventory turnover
- 0.56
- Cash conversion cycle
- 507 days
Where the revenue went
Of every ₹100 of FY2025 revenue, ₹10 was left as net profit.
| From | To | Amount |
|---|---|---|
| Sales | Expenses | ₹4,654 Cr |
| Sales | Operating profit | ₹422 Cr |
| Operating profit | Interest | ₹11 Cr |
| Operating profit | Depreciation | ₹42 Cr |
| Operating profit | Profit before tax | ₹369 Cr |
| Other income | Profit before tax | ₹335 Cr |
| Profit before tax | Tax and other | ₹176 Cr |
| Profit before tax | Net profit | ₹527 Cr |
Revenue and net profit
Revenue grew 41.3% in FY2025; net profit is the dashed line.
| Date | Revenue | Net profit |
|---|---|---|
| FY2021 | ₹1,141 Cr | ₹153 Cr |
| FY2022 | ₹1,754 Cr | ₹190 Cr |
| FY2023 | ₹2,561 Cr | ₹228 Cr |
| FY2024 | ₹3,593 Cr | ₹357 Cr |
| FY2025 | ₹5,076 Cr | ₹527 Cr |
Cash flows
FY2025: ₹16.0 Cr from operations, ₹186 Cr free after investment (dashed).
| Date | Operating cash flow | Free cash flow |
|---|---|---|
| FY2021 | ₹515 Cr | -₹658 Cr |
| FY2022 | -₹356 Cr | ₹73 Cr |
| FY2023 | ₹1,450 Cr | -₹216 Cr |
| FY2024 | -₹707 Cr | ₹349 Cr |
| FY2025 | ₹16 Cr | ₹186 Cr |
Growth
Latest fiscal year FY2025 (ending March): each figure with its change over the year before.
- Revenue
- ₹5,076 Cr+41.3%1Y
- Net profit
- ₹527 Cr+47.6%1Y
- Cash from operations
- ₹16 Cr
- Free cash flow
- ₹186 Cr-46.7%1Y
- Revenue CAGR, 5Y
- 20.2%
- EBITDA CAGR, 5Y
- 15.8%
- Net profit CAGR, 5Y
- 17.0%
| Year | Revenue | Operating income | EBITDA | Net profit | CFO | FCF | ROE | Revenue growth 1Y | Net profit growth 1Y |
|---|---|---|---|---|---|---|---|---|---|
| FY2025 | ₹5,076 Cr | ₹422 Cr | — | ₹527 Cr | ₹16 Cr | ₹186 Cr | 25.3% | +41.3% | +47.6% |
Monthly returns
Month-by-month returns of GRSE across the years, with the seasonal pattern.
Balance sheet
What the company owns and owes at the end of FY2025.
| Line | FY2025 |
|---|---|
| Liabilities and equity | ₹10,362 Cr |
| Equity capital | ₹115 Cr |
| Reserves | ₹1,965 Cr |
| Borrowings | ₹10 Cr |
| Other liabilities | ₹8,274 Cr |
| Assets | ₹10,362 Cr |
| Fixed assets | ₹515 Cr |
| Capital work in progress | ₹28 Cr |
| Investments | ₹0 Cr |
| Other assets | ₹9,819 Cr |
Market cap against peers
8 peers: same sector group, nearest by size.
P/E against peers
GRSE trades at 45.5x earnings against a peer median of 55.8x (a 18% discount).
Peer comparison
Same-sector peers by market cap, with the median.
| Company | Market cap | P/E | P/B | ROE | EV/EBITDA |
|---|---|---|---|---|---|
| Garden Reach Shipbuilders & Engineers LimitedGRSEthis companyP/E ↓ discount | ₹28,034 Cr | 45.5x | 12.2x | 21.3% | 48.9x |
| The Phoenix Mills Ltd.PHOENIXLTD | ₹67,725 Cr | 238.0x | 12.5x | 5.5% | 162.7x |
| Prestige Estates Projects LimitedPRESTIGE | ₹65,446 Cr | 639.0x | 5.5x | 3.6% | 63.0x |
| OBEROI REALTY LIMITEDOBEROIRLTY | ₹60,204 Cr | 34.0x | 4.0x | 11.4% | 28.0x |
| Godrej Properties LimitedGODREJPROP | ₹56,592 Cr | 148.0x | 3.2x | 5.4% | 55.5x |
| Brigade Enterprises LimitedBRIGADE | ₹20,935 Cr | 51.8x | 3.4x | 7.5% | 32.9x |
| Anant Raj LimitedANANTRAJ | ₹20,405 Cr | 76.3x | 5.1x | 3.8% | 102.7x |
| Sobha LimitedSOBHA | ₹16,390 Cr | 72.1x | 3.6x | 2.0% | 41.4x |
| SIGNATUREGLOBAL (INDIA) LIMITEDSIGNATURE | ₹13,483 Cr | 203.0x | 14.3x | 2.5% | 133.5x |
| Peer median | — | 55.8x | 3.7x | 6.8% | 32.9x |
Year-to-date ROI
GRSE since 1 January, against earlier years.
Historical volatility
GRSE's day-to-day swings over 30, 60 and 180 days.
Financial statements
Income statement, balance sheet and cash flow as reported, in ₹ crore, grouped into plain-language lines.
Figures in ₹ crore as reported, fiscal years ending March, newest first; the trailing twelve months (TTM) last.
Operating margin by fiscal year
| Date | Operating margin |
|---|---|
| FY2021 | 7.0% |
| FY2022 | 8.0% |
| FY2023 | 6.0% |
| FY2024 | 7.0% |
| FY2025 | 8.0% |
| Line | FY2025 |
|---|---|
| RevenueSales | ₹5,076 Cr |
| Costs | |
| Interest | ₹11 Cr |
| Expenses | ₹4,654 Cr |
| Operating profitOperating Profit | ₹422 Cr |
| Other income and charges | |
| Profit before tax | ₹703 Cr |
| Tax | |
| Net profitNet Profit | ₹527 Cr |
| Per share |
| Line | FY2025 |
|---|---|
| Liabilities and equityTotal Liabilities | ₹10,362 Cr |
| Equity capitalEquity Capital | ₹115 Cr |
| Reserves | ₹1,965 Cr |
| Borrowings | ₹10 Cr |
| Other liabilitiesOther Liabilities | ₹8,274 Cr |
| AssetsTotal Assets | ₹10,362 Cr |
| Fixed assetsFixed Assets | ₹515 Cr |
| Capital work in progressCWIP | ₹28 Cr |
| Investments | ₹0 Cr |
| Other assetsOther Assets | ₹9,819 Cr |
| Line | FY2025 |
|---|---|
| Operating cash flowCash from Operating Activity | ₹16 Cr |
| Investing cash flowCash from Investing Activity | ₹170 Cr |
| Financing cash flowCash from Financing Activity | -₹187 Cr |
| Change in cashNet Cash Flow | -₹1 Cr |
Learn while you research
Academy chapters picked for Garden Reach Shipbuilders & Engineers Limited and the metrics on this page.
- 01 Taxes on Investments (India)LTCG, STCG, dividend tax, what every Indian investor needs.6 min read
- 02 Stock Valuation BasicsHow to think about what a fair price for a stock looks like.7 min read
- 03 Valuation Multiples ExplainedThis stock trades at a P/E of 45.5, learn when high multiples are justified.6 min read
- 04 Growth Investing41% revenue growth is in the top tier, learn how to value growth.7 min read
- 05 Stock Market RisksSmall caps carry concentrated, idiosyncratic risk, learn to manage it.6 min read
- 06 Sectors & IndustriesHow to classify and compare companies across sectors.6 min read