What is Garden Reach Shipbuilders & Engineers Ltd's market cap?

Garden Reach Shipbuilders & Engineers Ltd (GRSE) has a market capitalization of ₹34,868 Cr.

What sector is GRSE in?

Garden Reach Shipbuilders & Engineers Ltd operates in the Defense & Aerospace sector.

What is GRSE's return on equity?

Garden Reach Shipbuilders & Engineers Ltd has a return on equity (ROE) of 28.5%.

Loading company...

Analyzing...

Garden Reach Shipbuilders & Engineers Ltd (GRSE) — Analysis, Financials, Intelligence | The Stock Filter

The Organism · Company Intelligence

Garden Reach Shipbuilders & Engineers Ltd

GRSE|BSE: 542011

Defense & AerospaceIndustrials & Manufacturingwww.grse.in

₹2,601.80

+₹15.65 (+0.61%)|MCap ₹34,868 Cr

As of 31 Jul 2026 (End of Day)

Promoter: 74.5%Div Yield: 0.68%

52W Low ₹1,963.7052W High ₹3,339.00

PE 58.9xMedian PE 16.0xPB 15.2x

Secular Currents

Theme Connections

Defence Indigenisation

About the Company

Profile

Garden Reach Shipbuilders & Engineers Ltd. engages in shipbuilding business. The company is headquartered in Kolkata, West Bengal. The company went IPO on 2018-10-10. The firm is primarily engaged in shipbuilding activities for Indian Navy and the Indian Coast Guard. The company is also engaged in construction of commercial vessels and engineering & engine production activities. The company operates through three divisions: shipbuilding, engineering and engine. The Shipbuilding division is engaged in the construction of warships / vessels for clients mainly in the defense sector. The Engineering division is engaged in manufacturing deck-machinery items, prefabricated portable steel bridges and marine pumps. The engine division is involved in assembly/testing/ overhauling of motor (engine) and turbine union (MTU) diesel engines. The company also supplies various boats, pontoons, barges, sailing dinghy, fishing trawler, fire float, dredger, passenger ferry, motor cutter, deck whaler, launch etc. to various other customers. Its shipbuilding unit is located at Rajabagan Dockyard, India.

Intelligence Profile

TSF Score

64/100

The Vitals · Company Health

Health Indicators

Shenanigan Score

48Medium

Trust Score

X-Ray

Concerns

No significant concerns identified

Watch

Nothing flagged for monitoring

Strengths

🟢Strong return on equity (28.5%)Business
🟢Efficient capital deployment (ROCE: 36.8%)Business
🟢Good profitability (Net margin: 10.3%)Business
🟢Low leverage (D/E: 0.00x)Business
🟢Consistent dividend payerOpportunity

The Numbers · Key Metrics

PE Ratio

58.9x

ROE

28.5%

Debt/Equity

0.00x

₹34,865 Cr

The Narrator · StoryTel Intelligence

FY2026Defense & AerospaceProduct Sales ModelModel:Revenue = Order Book × Execution Rate + AMC/Lifecycle Support Revenue

Key Insight

“Operates in Defense & Aerospace.”

The Revenue Story

₹7,002 Cr revenue.

Total Income₹7,277 Cr

Revenue₹7,002 Cr(96.2% of Total Income)

Other Income₹274 Cr(3.8% of Total Income)

The Cost Story

COGS 58.0%, employees 5.9%.

Cogs₹4,060 Cr(55.3%)

Other Expenses₹1,734 Cr(23.6%)

EBITDA₹1,070 Cr(14.6%)

Employee₹413 Cr(5.6%)

Depreciation₹49 Cr(0.7%)

Finance Costs₹16 Cr(0.2%)

0.1%EBITDA Margin

Cogs

55.3%

Other Expenses

23.6%

EBITDA

14.6%

Employee

5.6%

Depreciation

0.7%

Finance Costs

0.2%

Key Metrics

ROE

28.5%

vs median 11.4%

ROCE

36.8%

vs median 15.6%

Net Margin

10.3%

vs median 16.3%

EBITDA Margin

14.7%

vs median 23.2%

Debt To Equity

0.00x

vs median 0.05x

Forward View · Management Guidance

GUIDANCEQ2FY26— 1High Impact

“NGC figure could be to the tune of around 30,000 crores...should end the financial year with around 50,000 crores”

FINANCIALQ2FY26— 1High Impact

“Revenue from operations year on year has gone up from Rs 11.53 to Rs 16.77, registering a growth of 45%. Profit after tax moved from Rs. 98 crores to 154 crores, registering a growth of 50%”

GUIDANCEQ2FY26— 1High Impact

“We expect to maintain 25 to 30% year on year growth during the current financial year”

The Context · Where does it sit?

Sector Context

The Canopy · Sector KPIs

Sector KPIs

Defense & Aerospace

KPI	Company	Sector Median
ROE	28.5%▲	11.4%
ROCE	36.8%▲	15.6%
Net Margin	10.3%▼	16.3%
EBITDA Margin	14.7%▼	23.2%
Debt To Equity	0.00x▼	0.05x

The Market · What is the market saying?

Market Signals

The Antenna · Media Intelligence

Media Signal

Low Impact

The Numbers · Show me the data

Financials

No segment data

Revenue segment breakdown not available.

Financials

Revenue₹7,002 Cr

PBT₹1,005 Cr

EPS₹65.29

(₹ Cr)	TTM	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019
Revenue	₹7,002 Cr +38.0%	₹5,076 Cr +41.3%	₹3,593 Cr +40.3%	₹2,561 Cr +45.7%	₹1,758 Cr +54.1%	₹1,141 Cr -20.4%	₹1,433 Cr +3.4%	₹1,386 Cr
Other Income	₹274 Cr -18.1%	₹335 Cr +11.8%	₹300 Cr +48.4%	₹202 Cr +25.6%	₹161 Cr -14.4%	₹188 Cr -16.8%	₹225 Cr +31.7%	₹171 Cr
Total Income	₹7,277 Cr +34.5%	₹5,411 Cr +39.0%	₹3,892 Cr +40.9%	₹2,763 Cr +44.0%	₹1,918 Cr +44.4%	₹1,328 Cr -19.9%	₹1,659 Cr +6.5%	₹1,558 Cr
COGS	₹4,060 Cr +14.8%	₹3,535 Cr +57.0%	₹2,251 Cr +39.7%	₹1,612 Cr +70.8%	₹944 Cr +95.6%	₹483 Cr -33.1%	₹722 Cr -5.4%	₹763 Cr
	₹6,272 Cr +33.2%	₹4,707 Cr +38.0%	₹3,411 Cr +38.8%	₹2,458 Cr +48.7%	₹1,653 Cr +50.2%	₹1,101 Cr -22.7%	₹1,424 Cr +3.5%	₹1,377 Cr
Profit Before Tax	₹1,005 Cr +42.9%	₹703 Cr +46.2%	₹481 Cr +57.6%	₹305 Cr +18.7%	₹257 Cr +24.2%	₹207 Cr -7.5%	₹224 Cr +25.1%	₹179 Cr
	₹257 Cr +46.0%	₹176 Cr +42.2%	₹124 Cr +60.4%	₹77 Cr +13.9%	₹68 Cr +26.2%	₹54 Cr -11.2%	₹60 Cr -12.5%	₹69 Cr
Net Profit	₹748 Cr +41.8%	₹527 Cr +47.6%	₹357 Cr +56.6%	₹228 Cr +20.4%	₹190 Cr +23.5%	₹153 Cr -6.1%	₹163 Cr +48.7%	₹110 Cr
Other Comprehensive Income	₹3 Cr ↑ Recovery	(₹3 Cr) ↓ Decline	₹1 Cr +102.0%	₹0.54 Cr -51.6%	₹1 Cr -68.4%	₹4 Cr ↑ Recovery	(₹12 Cr) -86.1%	(₹6 Cr)
EPS	₹65.29	₹46.04	₹31.19	₹19.91	₹16.55	₹13.40	₹14.27	₹9.60
Diluted Shares	₹11 Cr	₹11 Cr	₹11 Cr	₹11 Cr	₹11 Cr	₹11 Cr	₹11 Cr	₹11 Cr