āagman

Not investment advice. Data and computed figures, for information only.

Garden Reach Shipbuilders & Engineers Ltd

NSE: GRSE
₹2,102.40
−₹38.50 (−1.80%)
NSE · 15 Oct 2026, close
NSE
As of 31 Mar 2026
Market Cap
₹23,437 Cr
CMP
₹2,102.40
52-wk High / Low
₹3,339 / 1,964
P/E
29.3
P/B
8.9
Book Value
₹229.0
Div Yield
0.96%
ROCE
43.0%
ROE
31.6%
Face Value
₹10
D/E
0.01

Price−21.0% over 1Y

āagman read

Computed by āagman
Derived from 12 years and 13 quarters of filings. Not reported by the company.
As of 15 Oct 2026
How we compute these
Piotroski F-Score
5
/ 9
5 of 9 F-score tests passed
Graham Number
₹580
√(22.5 × EPS × book value per share)
ROIC
20.8%
vs 12.3% sector median
Cash flow to profit
−0.39
CFO / PAT
Above 1.0 = operating cash flow exceeded reported profit
Margin change
−34
bps OPM YoY
Operating margin vs the same quarter last year
Sustainable growth
22.7%
ROE × earnings retention ratio
ROE stability
5.2
pp σ
Standard deviation of ROE across periods. Lower = more stable
Holder deltas
QoQ
pp
Prom +0.00FII −0.34DII +0.32
Latest quarter vs the previous one
Cash-accrual divergence
9.9%
of assets
Low = accruals track cash flow
Strengths
+FII holding rose by 0.5pp over the last year
+PE of 29.3x is below the sector median of 43.6x
Watch-outs
−Price trades below its 200-day moving average (0.8x)
−Price is 37.0% below its 52-week high

Peer comparison

Peers
NameP/EMar Cap ₹ CrROCE %ROE %

Quarterly results

Standalone basis (as filed) · ₹ Cr · 13 quarters
As of 30 Jun 2026
Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Sales7568989231,0161,0101,1531,2711,6421,3101,6771,8962,1191,815
Expenses7108498749259531,0841,1961,4211,1981,5211,7241,7641,665
Operating Profit46494991566975221112156172355149
OPM %6.1%5.5%5.3%9.0%5.5%6.0%5.9%13.5%8.5%9.3%9.1%16.8%8.2%
Other Income7172827674757211473696271100
Interest5213422164434
Depreciation10101010101111101212121314
Profit before tax102107119153115131134324167209218411232
Net Profit778188112879898244120154171303173
EPS (₹)6.697.057.709.747.618.538.5721.3210.4913.4314.9126.4715.09

Profit & Loss

As of 30 Jun 2026
Standalone · ₹ Cr · 12 years + TTM
Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales1,5621,6579211,3471,3861,4331,1411,7542,5613,5935,0767,0027,507
Expenses1,5001,5651,0821,3621,3441,3911,0601,6132,4123,3574,6546,2076,674
Operating Profit6292−161−15424281141149235422795833
OPM %4.0%5.6%−17.5%−1.1%3.0%2.9%7.1%8.0%5.8%6.5%8.3%11.4%11.1%
Other Income61191217179169215165154202300335274301
Interest649853102713111614
Depreciation27282729273029363941424951
Profit before tax90252201281792242072573054817031,0051,070
Net Profit521641192110163153190228357527748801
EPS (₹)41.77132.799.268.079.6014.2713.4016.5519.9131.1946.0465.2969.90

Balance Sheet

As of 30 Jun 2026
Standalone · ₹ Cr
Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026Jun 2026
Equity Capital124124124115115115115115115115115115—
Reserves8831,0139599079249261,0231,1431,2991,5591,9652,512—
Borrowings0025000411312661037—
Other Liabilities2,9943,3173,4583,3023,1524,3555,6566,3749,0578,5248,2747,982—
Total Liabilities4,0014,4544,5674,3234,1915,3956,7977,64310,78310,26310,36210,645—
Fixed Assets366344358389302304340501508493515576—
CWIP112223163452151106252824—
Investments0000254826197234000—
Other Assets3,6244,0884,1853,9183,8524,9865,4806,93610,0369,7469,81910,045—
Total Assets4,0014,4544,5674,3234,1915,3956,7977,64310,78310,26310,36210,645—

Cash Flows

As of 31 Mar 2026
Standalone · ₹ Cr
Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Cash from Operating Activity———−74−112628515−3561,450−70716−290
Cash from Investing Activity———267198245−1,173429−1,6661,056170527
Cash from Financing Activity———−193−89−153−62−72220−358−187−223
Net Cash Flow———0−3720−72004−9−113

Ratios

As of 31 Mar 2026
12 periods
Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
ROCE %10.024.03.012.018.022.021.020.020.027.037.043.0
ROE %———————————31.6
EPS (₹)41.77132.799.268.079.6014.2713.4016.5519.9131.1946.0465.29
Book Value (₹)———————————229.0
Face Value (₹)———————————10
P/E———————————29.3
Div Yield %———————————0.96
NPM %3.28.91.06.07.19.911.710.08.39.29.710.3
OPM %4.06.0−17.0−1.13.02.97.08.06.07.08.011.0
D/E0.000.000.020.000.000.000.000.010.220.040.000.01
P/B———————————8.9

Growth

As of 11 Oct 2026
Compounded sales growth
10 years+16.0%
5 years+44.0%
3 years+40.0%
TTM+40.0%
Compounded profit growth
10 years+16.0%
5 years+36.0%
3 years+50.0%
TTM+43.0%
Stock price CAGR
5 years+55.0%
3 years+37.0%
Last year−23.0%
Return on equity
10 years19.0%
5 years24.0%
3 years28.0%
Last year32.0%

Shareholding pattern

As of 31 Dec 2025
Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025
Promoters74.50%74.50%74.50%74.50%74.50%74.50%74.50%74.50%74.50%74.50%74.50%
FIIs0.00%0.00%0.00%1.47%0.97%1.55%2.68%3.26%3.85%3.51%3.17%
DIIs22.27%22.27%22.27%16.67%15.61%10.68%7.91%6.14%1.90%1.69%2.01%
Government———————————
Public3.23%3.23%3.23%7.36%8.92%13.27%14.91%16.10%19.76%20.32%20.33%
No. of shareholders11,05611,05611,05618,11829,02635,80660,6381,25,6314,13,9864,07,5263,99,640
Change since Jun 2023 (pp)
Promoters +0.00FIIs +3.17DIIs −20.26Public +17.10

Documents

As of 11 Oct 2026
Announcements
Compliances-Certificate under Reg. 74 (5) of SEBI (DP) Regulations, 2018Announcement under Regulation 30 (LODR)-Change in DirectorateShareholder Meeting / Postal Ballot-Scrutinizer''s ReportShareholder Meeting / Postal Ballot-Outcome of AGMAnnouncement under Regulation 30 (LODR)-Appointment of Statutory Auditor/s
Annual reports
Annual Report 2026Annual Report 2025Annual Report 2024Annual Report 2023Annual Report 2022
Credit ratings
Rating updateRating updateRating updateRating updateRating update
Concalls
Aug 2026TranscriptAug 2026RecordingMay 2026TranscriptMay 2026RecordingFeb 2026TranscriptFeb 2026RecordingNov 2025TranscriptNov 2025RecordingAug 2025TranscriptAug 2025Recording

Corporate actions

As of 18 Sep 2026
18 Sep 2026DIVIDENDDividend - Rs 6.70 Per Share—
3 Feb 2026DIVIDENDInterim Dividend - Rs 7.15 Per Share—
11 Nov 2025DIVIDENDInterim Dividend - Rs 5.75 Per Sh—
12 Sep 2025DIVIDENDDividend - Rs 4.90 Per Share—
7 Feb 2025DIVIDENDInterim Dividend - Rs 8.95 Per Share—
13 Sep 2024DIVIDENDAnnual General Meeting/Dividend - Rs 1.44 Per Share—
23 Feb 2024DIVIDENDInterim Dividend - Rs 7.92 Per Share—
15 Sep 2023DIVIDENDAnnual General Meeting/Dividend - Re 0.70 Per Share—
20 Feb 2023DIVIDENDInterim Dividend - Rs 5.50 Per Share—
16 Sep 2022DIVIDENDAnnual General Meeting/Dividend - Rs 0.85 Per Share—
22 Feb 2022DIVIDENDInterim Dividend - Rs 4.95 Per Share—
2 Sep 2021DIVIDEND Annual General Meeting/Dividend - Rs 1.15 Per Share—
17 Feb 2021DIVIDEND Interim Dividend - Rs 3.85 Per Share—
3 Sep 2020DIVIDEND Annual General Meeting/Dividend - Rs 1.40 Per Share—
26 Mar 2020DIVIDEND Interim Dividend - Rs 5.74 Per Share—
12 Sep 2019DIVIDEND Annual General Meeting/Dividend - Rs 5.10 Per Share—
27 Mar 2019DIVIDEND Interim Dividend - Rs 1.85 Per Share—
Fundamentals from a third-party compiler of exchange filings; prices from the exchanges. Not investment advice.© 2026 āagman