Garden Reach Shipbuilders & Engineers Ltd
NSE: GRSEBSE: 542011
₹ 1,898.00▼ 22 (−1.15%)28 Oct, 03:29 pm IST
- P/E
- 26.6x
- 52-week range
- 1,842 – 3,339
- ROE
- 32%
- ROCE
- 43%
- Sector
- Aerospace & Defense
- Industry
- Aerospace & Defense
- Listed on
- NSE, BSE
About
Garden Reach Shipbuilders & Engineers Ltd. is an India-based warship building company. The Company is under the administrative control of the Ministry of Defense, primarily catering to the shipbuilding requirements of the Indian Navy and the Indian Coast Guard. The Company's divisions include ship division, engineering division and engine division. It has built over 800 platforms, including 114 warships for Indian Navy, Indian Coast Guard and Govt. of Mauritius and Govt. of Seychelles. It has designed and built warships, such as frigates, anti-submarine warfare corvettes, fleet tanker and landing ship tank (large), among others. Its engineering product includes prefabricated steel bridges of various ranges and types, and various deck machinery items such as anchor capstans, boat davits, and others. The Company is also engaged in engineering activities. It is involved in assembly/testing/overhauling of marine diesel engines and the manufacture of naval surface guns.
Quick check
The five things to look at first. Open one for more.
Compared with its industry
Aerospace & Defense: 33 companies →Garden Reach Shipbuilders & Engineers Ltd against the typical company in its industry. The rank is out of the companies that report each figure; green means the better quarter of the pack, red the worse quarter.
- Valuation (P/E)26.6 against a typical 72.2: cheaper than most peers (1st = cheapest).2nd of 33
- Sales growth+38.5% against a typical +30.4% from a year earlier.11th of 28
- Profit growth+44.2% against a typical +8.9% from a year earlier.10th of 27
- Share price, 3 months−26.9% against a typical −2%.31st of 32
Credit ratings
Every rating action on file, newest first, including reaffirmations. Open a row for the agency's reasoning. All credit rating updates
Highest safety
Rated AAA by CAREAAA
DefaultRiskyModerateSafeVery safe
- No warnings from the agency.
| Agency | Current rating | Outlook | As of |
|---|---|---|---|
| CARE | CARE AAA | Stable | 22 Jun 2026 |
| Rating | Details | |||||
|---|---|---|---|---|---|---|
| 22 Jun 2026 | Reaffirmed | CARE AAA | — | CARE | ₹ 14,693 Cr. |
Research by Minerva Capital Research Solutions
Our research team's work on Garden Reach Shipbuilders & Engineers LtdAlso covered in
Company note · 9 Jun 2025 · Free
Board meetings
Results dates and other board meetings. Full calendar
| Details | ||
|---|---|---|
| 4 Nov 2026Upcoming | Financial Results | To consider and approve the financial results for the period ended September 30, 2026 |
| 29 Jul 2026 | Financial Results | In terms of Regulation 29 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended (the SEBI Listing Regulations ), we wish to inform you that the meeting of the Board of Directors of the Company is scheduled to be held on Wednesday, 29 July 2026, inter alia, to consider and approve the Unaudited Financial Results of the Company for the quarter ended 30 June 2026. The detailed disclosure in this regard is enclosed. |
| 28 Apr 2026 | Financial Results/Dividend | This has reference to our letter No. SECY/GRSE/BD-69/CA/01/26-27 dated 11 Apr 2026 on the subject matter of Intimation of Date of Board Meeting to, inter alia, consider and approve, Audited Financial Results for the quarter and year ended 31st March, 2026 and to recommend final dividend for the financial year 2025-26, if any .This is to inform you that meeting of the Board of Directors of the Company, which is scheduled to be held on Monday, 27th April, 2026, has been rescheduled and now will be held on Tuesday, 28th April, 2026 due to unavoidable circumstances. Accordingly, the Trading Window for dealing in securities of the Company shall remain closed from 01st April, 2026 to 30th April, 2026.This is for your information and record. |
| 27 Apr 2026 | Financial Results/Dividend | In terms of Regulation 29 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended (the SEBI Listing Regulations ), we wish to inform you that a meeting of the Board of Directors of the Company is scheduled to be held on Monday, 27th April, 2026, inter alia, to consider and approve Audited Financial Results for the quarter and year ended 31st March, 2026 and to recommend final dividend for the Financial Year 2025-26, if any.Accordingly, the Trading Window for dealing in securities of the Company shall remain closed for all Insiders including Designated Person, Connected Person and their immediate relatives from 01st April, 2026 to 29th April, 2026.This is for your information and record. |
| 28 Jan 2026 | Financial Results/Dividend | In terms of Regulation 29 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (SEBI LODR, 2015), we wish to inform you that a meeting of the Board of Directors of the Company is scheduled to be held on Wednesday, 28th January, 2026, inter alia, to consider and approve the Unaudited Financial Results of the Company for the quarter and nine months ended 31st December, 2025 and to declare 2nd Interim dividend for the Financial Year 2025-26, if any.The Trading Window for dealing in securities of the Company shall remain closed for all Insiders including Designated Person, Connected Person and their immediate relatives from 01st January, 2026 to 30th January, 2026. |
| 4 Nov 2025 | Financial Results/Dividend | To consider and approve the Unaudited Financial Results for the quarter and half year ended 30th September, 2025 and to declare Interim Dividend for the financial year 2025-26, if any. |
| 8 Aug 2025 | Financial Results | In terms of Regulation 29 of the SEBI (LODR),2015, we wish to inform you that the meeting of the Board of Directors of the Company is scheduled to be held on Friday, 08th August, 2025, inter alia, to consider and approve the Unaudited Financial Results of the Company for the quarter ended 30th June, 2025.Further, in terms of the Company s Code of Conduct for Prevention of Insider Trading and Fair disclosure of Unpublished Price Sensitive Information and SEBI (Prohibition of Insider Trading) Regulations, 2015, it was intimated / informed to the Stock Exchanges vide letter dated 26th June, 2025 that the Trading Window for dealing in securities of the Company for Designated Persons and their immediate relatives shall remain closed from 01st July, 2025 till 48 hours after the declaration of Unaudited Financial Results for the quarter ended 30th June, 2025.In view of the above, the Trading Window for dealing in securities of the Company shall remain closed from 01st July, 2025 to 10th August, 2025. |
Financials
Standalone figures in ₹ crore.
| ₹ Cr. | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 898 | 923 | 1,016 | 1,010 | 1,153 | 1,271 | 1,642 | 1,310 | 1,677 | 1,896 | 2,119 | 1,815 |
| Expenses | 849 | 874 | 925 | 953 | 1,084 | 1,196 | 1,421 | 1,198 | 1,521 | 1,724 | 1,764 | 1,665 |
| Operating Profit | 49 | 49 | 91 | 56 | 69 | 75 | 221 | 112 | 156 | 172 | 355 | 149 |
| OPM % | 5% | 5% | 9% | 6% | 6% | 6% | 13% | 9% | 9% | 9% | 17% | 8% |
| Other Income | 72 | 82 | 76 | 74 | 75 | 72 | 114 | 73 | 69 | 62 | 71 | 100 |
| Interest | 2 | 1 | 3 | 4 | 2 | 2 | 1 | 6 | 4 | 4 | 3 | 4 |
| Depreciation | 10 | 10 | 10 | 10 | 11 | 11 | 10 | 12 | 12 | 12 | 13 | 14 |
| Profit before tax | 107 | 119 | 153 | 115 | 131 | 134 | 324 | 167 | 209 | 218 | 411 | 232 |
| Tax % | 25% | 26% | 27% | 24% | 25% | 27% | 25% | 28% | 27% | 22% | 26% | 25% |
| Net Profit | 81 | 88 | 112 | 87 | 98 | 98 | 244 | 120 | 154 | 171 | 303 | 173 |
| EPS in Rs | 7.05 | 7.7 | 9.74 | 7.61 | 8.53 | 8.57 | 21.32 | 10.49 | 13.43 | 14.91 | 26.47 | 15.09 |
Growth and returns
Compounded yearly rates over each period.
Compounded Sales Growth
- 10 Years
- 16%
- 5 Years
- 44%
- 3 Years
- 40%
- TTM
- 40%
Compounded Profit Growth
- 10 Years
- 16%
- 5 Years
- 36%
- 3 Years
- 50%
- TTM
- 43%
Stock Price CAGR
- 10 Years
- —
- 5 Years
- 70%
- 3 Years
- 51%
- TTM
- —
Return on Equity
- 10 Years
- 19%
- 5 Years
- 24%
- 3 Years
- 28%
- TTM
- —
P/E and EPS over time
Daily P/E and trailing 12-month EPS. EPS updates with each result.
P/E 26.6xEPS (12 months) ₹ 69.89Median P/E 21.1x
P/E (times)EPS (₹)
Peers
Listed companies in the same business.
| Garden Reach Shipbuilders & Engineers Ltd | ₹ 1,898.00 | — | 26.6x | — | 32% | — |
| Mazagon Dock Shipbuilders | ₹ 1,862.00 | ₹ 75,109 Cr. | 36.6x | 9.7x | 0% | 0% |
| Cochin Shipyard | ₹ 1,143.00 | ₹ 30,070 Cr. | 50.6x | 6.2x | 0% | 0% |
| Great Eastern Shipping Company | ₹ 1,490.00 | ₹ 21,898 Cr. | 8x | 1.2x | 0% | 0% |
| Swan Defence and Heavy Industries | ₹ 2,696.90 | ₹ 14,208 Cr. | — | 206.4x | 0% | 0% |
| Shipping Corporation of India | ₹ 237.95 | ₹ 11,084 Cr. | 9.9x | 1.4x | 0% | 0% |
Management
- Hari P. R.
- Chairman of the Board, Managing Director
- Niranjan Mukund Bhalerao
- Chief Financial Officer, Director (Finance)
- Sandeep Mahapatra
- Company Secretary, Compliance Officer
- Vinith Aerat
- Chief General Manager - B&TD, CC & NPD
- Sanjay Anand
- General Manager (Security, FF & OL)
- Sujoy Chakravorty
- Chief General Manager - Commercial
- Aparajita Ghosh
- Chief General Manager (Finance)
- Manoj Kumar Gupta
- Chief General Manager (CC, HP & IP)
Prices are delayed and for information only. Nothing on this page is investment advice.