NSE:GRSENSEIndustrials
Garden Reach Shipbuilders & Engineers Limited
📊 Aerospace & Defense
Day ₹3,060
₹3,339 Oversold
52W ₹1,741
₹3,538 Overbought
₹3,123.00
▲ ₹247.70 (+8.61%)
Vol: 11,110,158 · Avg: 1,602,217
As of April 29, 2026 · 06:25 IST
COMPOSITE RISK SCORE
68 MODERATE
VAL:6/25 · FIN:21/25 · GRO:23/25 · TECH:18/25
📈 P/E RATIO
52.0x
Trailing
📖 P/B RATIO
15.6x
Price to Book
💰 EPS
₹60.09
TTM
🏛 MARKET CAP
₹35,763Cr
Large Cap
📊 ROE
25.4%
Return on Equity
📈 REV GROWTH
49.1%
YoY
🏢 Company Analysis · Garden Reach Shipbuilders & Engineers Limited
💼 BUSINESS MODEL
  • 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..
  • Operates in Aerospace & Defense within the Industrials sector.
  • Workforce of 1,523 employees.
🏰 MOAT & COMPETITION
  • Large-cap (₹35,763 Cr) — established player with meaningful market presence.
  • Profit margin of 10.6% — moderate pricing power.
  • Key competitors: Bharat Electron, Hind.Aeronautics, Garden Reach Sh., Zen Technologies.
🚀 CATALYSTS
  • Revenue growing at 49% — strong top-line momentum.
  • Earnings growth of 74% signals execution on profitability.
⚖️ ASYMMETRY CHECK
  • Analyst target range: ₹3,026 — ₹3,500 (mean ₹3,263, 2 analysts).
  • Favorable asymmetry — upside potential of +12% vs downside floor of -3% (3.9x reward-to-risk).
  • P/E of 52.0x — premium valuation, growth must sustain to avoid de-rating risk.
🔭 FUTURE OUTLOOK
  • Analyst consensus: None (2 analysts).
  • Latest quarter earnings grew 74% YoY — positive trajectory.
✅ PROS
  • None identified
❌ CONS
  • None identified
VALUATION
6/25
25% WEIGHT
  • P/E at 52x
  • P/B at 15.6x
  • Analyst target: ₹3263 (+4.5%)
  • 1Y return: +60.6%
FINANCIAL HEALTH
21/25
25% WEIGHT
  • ROE: 25.4%
  • Profit margin: 10.6%
  • Revenue growth: 49.1%
  • Debt/Equity: 1%
GROWTH
23/25
25% WEIGHT
  • Revenue growth: 49.1%
  • Earnings growth: 74.0%
  • Beta: 0.45
  • Sector: Industrials
TECHNICAL
18/25
25% WEIGHT
  • RSI, MACD, MA crossovers
  • 200 DMA & 50 EMA position
  • Volume trend analysis
  • Price momentum signals
📈 Price Movement
🕯 Candlestick Chart
🎯 Price Prediction · Analyst Target Cone Source: Yahoo Finance Analyst Targets ↗
💎 Valuation & Financial Metrics
P/E RATIO
52.0x
Trailing twelve months
P/B RATIO
15.6x
Price to Book value
ROE
25.4%
Return on Equity
PROFIT MARGIN
10.6%
Net profit margin
OPM
8.4%
Operating profit margin
ANALYST TARGET
₹3,263
Range: ₹3,026 - ₹3,500
Yahoo Finance ↗
PEG RATIO
N/A
Price/Earnings to Growth
EV/EBITDA
45.6x
Enterprise value ratio
CURRENT RATIO
N/A
Liquidity measure
DIVIDEND YIELD
0.93%
Annual yield
ROA
N/A
Return on Assets
GROSS MARGIN
18.1%
Gross profit margin
INDUSTRY AVERAGES — AEROSPACE & DEFENSE
P/E 53.7x (below avg)
P/B 5.0x (sector fair)
ROCE 29.0%
ROE 20% (sector good)
OPM 20% (sector good)
Div Yield 0.22%
D/E <30 (sector comfort)
📋 Quarterly Performance Trend
QuarterRevenueQoQ %Net ProfitQoQ %Op. Cash FlowEBITDA Margin
Q2 FY25 ₹1,153 Cr— ₹98 Cr— N/A 12.5%
Q3 FY25 ₹1,271 Cr+10.2% ₹98 Cr+0.4% N/A 11.6%
Q4 FY25 ₹1,637 Cr+28.8% ₹244 Cr+148.8% N/A 20.5%
Q1 FY26 ₹1,310 Cr-20.0% ₹120 Cr-50.8% N/A 14.1%
Q3 FY26 ₹1,896 Cr+44.7% ₹171 Cr+42.1% N/A 12.3%
📊 Year-on-Year Trend
FYRevenueYoY %Net ProfitYoY %Op. Cash FlowYoY %
FY22 ₹1,745 Cr— ₹190 Cr— ₹-356 Cr—
FY23 ₹2,548 Cr+46.0% ₹228 Cr+20.4% ₹1,450 Cr+507.7%
FY24 ₹3,588 Cr+40.8% ₹357 Cr+56.6% ₹-707 Cr-148.7%
FY25 ₹5,071 Cr+41.3% ₹527 Cr+47.6% ₹16 Cr+102.2%
📈 Revenue vs Earnings
🎯 EPS: Estimate vs Actual
💰 How Garden Reach Shipbuilders & Engineers Limited Makes Its Money
Revenue ₹1.9K Cr Cost of Revenue ₹1.5K Cr Gross Profit ₹358 Cr Op. Expenses ₹198 Cr Operating Inc. ₹160 Cr Tax ₹47 Cr Other ₹62 Cr Net Income ₹171 Cr (9.0% margin) Dec 2025 · All values in ₹ Crores
🏦 Snapshot of Garden Reach Shipbuilders & Engineers Limited's Balance Sheet
Total Assets ₹10.4K Cr Cash & Equiv.: ₹4 Cr (0.0%) Receivables: ₹259 Cr (2.5%) Inventory: ₹3.6K Cr (34.3%) Other Current: ₹5.7K Cr (55.1%) PP&E: ₹521 Cr (5.0%) Other Non-Curr.: ₹287 Cr (2.8%) Liab. + Equity ₹10.4K Cr Current Liab.: ₹8.1K Cr (78.7%) Long-Term Debt: ₹8 Cr (0.1%) Equity: ₹2.1K Cr (20.1%) As of Mar 2025 · All values in ₹ Crores
💸 Looking into Garden Reach Shipbuilders & Engineers Limited's Cash Flow
Operating CF ₹16 Cr Capital Exp. ₹67 Cr FY2025 · All values in ₹ Crores
📅 Quarterly Results Source: Screener ↗
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Expenses +
Operating Profit
OPM %
Other Income +
Interest
Depreciation
Profit before tax
Tax %
Net Profit +
EPS in Rs
Raw PDF
📊 Profit & Loss Statement Source: Screener ↗
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Expenses +
Operating Profit
OPM %
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Interest
Depreciation
Profit before tax
Tax %
Net Profit +
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🏦 Balance Sheet Source: Screener ↗
Equity Capital
Reserves
Borrowings +
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Total Liabilities
Fixed Assets +
CWIP
Investments
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Total Assets
💰 Cash Flow Statement Source: Screener ↗
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Cash from Investing Activity +
Cash from Financing Activity +
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Free Cash Flow
CFO/OP
📈 Key Financial Ratios
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🏭 Industry Peers — Aerospace & Defense
#CompanyCMPP/EMkt CapROCEQtr ProfitScore
1Bharat Electron ★₹43853.7₹320,31538.9%+20.4%91
2Hind.Aeronautics₹4,34932.7₹290,86433.9%+29.6%89
3Garden Reach Sh.₹3,11947.8₹35,72643.0%+24.1%76
4Zen Technologies₹1,68558.0₹15,21137.2%+37.9%71
5C2C Advanced₹46718.5₹79326.2%+143.2%70
6Krishna Defence₹1,08348.6₹1,61724.3%+163.7%66
7Sika Interplant₹1,05560.9₹2,23629.0%+32.7%65
8CFF Fluid₹84761.4₹1,77622.1%+36.2%61
9Astra Microwave₹1,10965.7₹10,53218.7%-1.3%58
★ Bharat Electron ranks higher on combined P/E, ROCE, and growth metrics in Aerospace & Defense
🏛 Shareholding Pattern
Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
Promoters74.50%74.50%74.50%74.50%74.50%74.50%
FIIs3.71%3.85%5.33%3.26%2.96%3.51%
DIIs1.87%1.90%1.81%1.99%1.64%1.69%
Public19.92%19.76%18.36%20.25%20.90%20.32%
No. of Shareholders4,21,1484,13,9864,07,7074,25,9004,19,6484,07,526
🟢 CATALYSTS
🏆Revenue Growth 49%: Above sector norm of 18% — strong top-line momentum.
💹High ROE (25.4%): Above sector norm of 20% — efficient capital use.
🔀Low Beta (0.45): Less volatile than market — defensive play.
🇮Earnings Growth (74%): Above sector norm — strong profit expansion.
🔴 RISKS
📜Elevated P/E (52.0x): Above sector expensive threshold of 50x.
💰High P/B (15.6x): Well above sector expensive threshold of 10x.
🔓Market Risk: Broader market correction or sentiment shift could impact stock.
🕸 Factor Analysis · Radar
Momentum 8/10: 1M +58.3%, 6M +22.3%, RSI 77, MACD bullish, Above 200DMA Sentiment 5/10: Analyst upside +4.5%, Rec: none Value 2/10: P/E 52.0, P/B 15.6, EV/EBITDA 45.6 Quality 6/10: Margin 10.6%, D/E 1 Low Volatility 7/10: Beta 0.45, Ann. vol 54% Momentum 8 Sentiment 5 Value 2 Quality 6 Low Vol 7
Momentum 8/10
1M +58.3%, 6M +22.3%, RSI 77, MACD bullish, Above 200DMA
Sentiment 5/10
Analyst upside +4.5%, Rec: none
Value 2/10
P/E 52.0, P/B 15.6, EV/EBITDA 45.6
Quality 6/10
Margin 10.6%, D/E 1
Low Volatility 7/10
Beta 0.45, Ann. vol 54%
🎯 Decision Matrix
ActionIf Stock RisesIf Stock Falls
BUYCapture 4.5% analyst upsideFundamentals provide base support
HOLDRetain existing position; wait for better entry; FII stake rising (+0.55%)Miss further upside if momentum continues; 1M return of +58.3% shows momentum
SELLLock in +60.6% 1Y returnAvoid further drawdown
REASONS TO BUY
  • Analyst upside of 4.5% with mean target of ₹3,263
  • FII stake rising (+0.55%) — signals institutional confidence
  • ROE of 25.4% above sector norm of 20%
  • Revenue growing at 49.1% YoY (sector norm: 6%)
REASONS TO SELL / AVOID
  • P/E of 52.0x exceeds sector expensive threshold of 50x
  • 1Y return of +60.6% — profit booking opportunity
📰 Latest News
Centum Electronics Ltd (BOM:517544) Q2 2026 Earnings Call Highlights: Strong Revenue Growth ...
GuruFocus.com · 2025-11-14T05:08
Garden Reach Shipbuilders & Engineers Ltd (BOM:542011) Q2 2026 Earnings Call Highlights: ...
GuruFocus.com · 2025-11-12T11:01
Garden Reach Shipbuilders & Engineers Ltd (BOM:542011) Q4 2025 Earnings Call Highlights: ...
GuruFocus.com · 2025-05-21T15:01
RECOMMENDATION
SPECULATIVE BUY
COMPOSITE SCORE
68/100
Garden Reach Shipbuilders & Engineers Limited trades at ₹3,123.00 with a composite risk score of 68/100. The stock scores 6/25 on valuation, 21/25 on financial health, 23/25 on growth, and 18/25 on technicals. The company is currently profitable with strong return on equity.

Analyst consensus suggests upside of 4.5% with a mean target of ₹3263. Revenue growth is at 49.1% — a strong positive signal.

Within Aerospace & Defense, Bharat Electron (P/E 53.7, ROCE 38.9%) ranks higher on techno-fundamental metrics and may be worth considering.

Bottom Line: Positive for Industrials but monitor closely. The current recommendation is SPECULATIVE BUY.
PROFITABLE HIGH ROE STRONG GROWTH EXPENSIVE
RISK SCORE REPORT · NSE:GRSE · GENERATED APR 29, 2026 06:25 IST · DATA VIA YAHOO FINANCE + SCREENER.IN
DISCLAIMER: THIS IS NOT FINANCIAL ADVICE. DATA MAY BE DELAYED. ALWAYS VERIFY WITH OFFICIAL SOURCES BEFORE INVESTING.