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GRSE · NSE · Aerospace & Defense

Garden Reach Shipbuilders & Engineers Ltd

What the numbers mean, from its filings and the exchange. Data as of 13 Oct 2026.
Small Cap · AMFI list Jan-Jun 2026 · Vendor sector: Industrials
fair low confidence No valuation within 120 days; P/E 29.3 vs peers 104 (1st of 14); P/B 8.6 vs peers 6.3 (10th of 14).
Statements through FY2026Prices adjusted for corporate actionsNot yet reviewed by the adversarial model

What is Garden Reach Shipbuilders & Engineers's share price today?

Garden Reach Shipbuilders & Engineers last traded at ₹2,128.40 on the NSE, as of 13 Oct 2026, 10:45 am IST, up 2.2% on the day, down 20.1% over a year. Its 52-week range is ₹1,964 to ₹3,339. The live price is in the app.

₹2,128.40 +2.2% today
−20.1% over 1 year · NSE, as of 13 Oct 2026, 10:45 am IST
60 month-end closes, 31 Oct 2021 to 30 Sep 2026, adjusted for splits and bonuses
52-week range12% of the way up
Low ₹1,964High ₹3,339

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

Garden Reach Shipbuilders & Engineers's market capitalisation is about ₹23,849 crore: what it would cost to buy every share at today's price. That makes it the 79th largest small cap company we cover.

₹23,849 Cr Small Cap79th largest small cap company
Small Cap means the companies ranked 251 and below by size, under SEBI's rules. Shares in issue are worked out from the market cap and the price. What market cap tells you →

Key facts

From the exchange
Symbol
NSE: GRSE
ISIN
INE382Z01011
Cap bucket
Small Cap, 79th largest by market cap
Industry (NSE)
Industrials › Capital Goods › Aerospace & Defense
Listed since
2018
Futures and options
Not traded

Is Garden Reach Shipbuilders & Engineers overvalued?

Fair, with low confidence: no valuation within 120 days; P/E 29.3 vs peers 104 (1st of 14); P/B 8.6 vs peers 6.3 (10th of 14).

Valuation

Latest price and trailing 12 months
P/E 29.27
vs peers 103.7 · 1st of 14
Price divided by last year's earnings per share: how many years of today's profit you pay for. Learn more →
P/B 8.60
vs peers 6.3 · 10th of 14
Price divided by book value per share: what you pay for each rupee of net assets on the balance sheet. Learn more →
Market cap ₹23,849 Cr
Total market value of all shares, in ₹ crore. Learn more →
Dividend yield Not available
Last year's dividends as a share of today's price. Learn more →
PEG (vendor) 1.40
vs peers 29.2 · 1st of 7
P/E divided by the vendor's earnings growth figure, which it does not disclose; a P/E adjusted for how fast profits grow. Learn more →
PEG on our 3-year EPS growth 0.60
P/E divided by the 3-year EPS growth rate from the stored accounts. Learn more →
3 models could be judged
Skipped — Fair value, EPV, Graham number, Graham value, Lynch, Owner earnings: no valuation stored

Our valuation range

🔒 Pro
Value range, implied growth at today's price, and the nine models behind it: in the app.

Is Garden Reach Shipbuilders & Engineers a quality business?

Quality score 67.6, 4th of 15 in its peer set; CAUTION on 30 of 30 flags judged.

Quality and risk

Data as of 13 Oct 2026
Business quality Not available
The kind of business, which sets the yardstick it is judged by. Learn more →
Quality score 67.6
vs peers 45.2 · 4th of 15
Returns, margins, leverage and consistency against its peers, out of 100. Learn more →
Risk level CAUTION
30 of 30 flags judged
From flags on debt, earnings quality, dilution and price swings. Learn more →

Profitability

ROE 31.8%
vs peers 10.7% · 1st of 15
Return on equity: profit as a share of shareholders' money. Learn more →
ROCE 41.2%
vs peers 11.1% · 1st of 15
Return on capital employed: operating profit as a share of all the capital in the business, debt and equity. Learn more →
Profit margin 10.2%
vs peers 13.9% · 9th of 15
Profit after everything, as a share of revenue. Learn more →
EPS Not available
Profit for each share over the last 12 months.

Scorecard

🔒 Pro
Health scores and red flags with their values and history: in the app.
See the scorecard →
Inside the app

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Has Garden Reach Shipbuilders & Engineers made money for shareholders?

Mixed: −20.1% over one year and +62.4% a year over five years.

Shareholder returns

1-year return −20.1%
Price only
What the share price did over the last 12 months. Learn more →
5-year return +62.4% a year
Price only
Yearly average price return over five years, bonuses and splits adjusted. Learn more →
Wealth destroyer No
Five-year total return — price CAGR on bonus- and split-adjusted closes plus the dividend yield — below the 7% a bank fixed deposit paid. Learn more →

Returns

3Y and 5Y are yearly averages
1W
−2.6%
1M
−11.7%
3M
−21.2%
6M
−17.4%
1Y
−20.1%
3Y
+43.2%
5Y
+62.4%

Does Garden Reach Shipbuilders & Engineers pay a dividend?

Garden Reach Shipbuilders & Engineers last paid ₹6.70 a share, ex-dividend 18 Sep 2026; nothing in the past 12 months counts toward a yield.

Dividends

Per share, by ex-dividend date
18 Sep 2026 · Final₹6.70
3 Feb 2026 · Interim 2₹7.15
11 Nov 2025 · Interim₹5.75
12 Sep 2025 · Final₹4.90
7 Feb 2025 · Interim₹8.95
Payout ratio🔒 In the app
The share of profit paid out as dividends; a very high share leaves little to reinvest.
Dividend growth, 5 years🔒 In the app
How fast the dividend per share has grown a year.
Years without a miss🔒 In the app
How many years in a row a dividend has been paid.

Is Garden Reach Shipbuilders & Engineers growing?

Revenue 3 years 38.1% a year; profit 3 years 48.6% a year; revenue 5 years 32.5% a year.

Growth

Statements through FY2026 (Mar-26)
Revenue 3 years 38.1% a year
vs peers 15.9% · 5th of 14
Compound annual growth of revenue over three years. Learn more →
Profit 3 years 48.6% a year
vs peers 37.5% · 4th of 11
Compound annual growth of net profit over three years. Learn more →
Revenue 5 years 32.5% a year
Compound annual growth of revenue over five years. Learn more →
Profit 5 years 33.4% a year
Compound annual growth of net profit over five years. Learn more →
EPS 3 years 48.6% a year
Growth in earnings per share, so dilution counts against the company. Learn more →
EPS 5 years 37.3% a year
Growth in earnings per share over five years, so dilution counts against the company. Learn more →
P/E vs own history -20.4%
vs peers 31.0% · 2nd of 11
Today's P/E against its own 5-year median; negative is cheaper than its history. Learn more →

How did Garden Reach Shipbuilders & Engineers do last quarter?

Garden Reach Shipbuilders & Engineers reported revenue of ₹1,815 Cr, up 38.0% on a year earlier and a net profit of ₹173 Cr, up 41.8% in the Jun 2026 quarter.

Latest quarter

Jun 2026
Revenue, latest quarter₹1,815 Cr
+38.0% on a year earlier
What the company took in over the quarter.
Net profit, latest quarter₹173 Cr
+41.8% on a year earlier
What was left for shareholders after every cost and tax.

How does Garden Reach Shipbuilders & Engineers compare with its peers?

Compared with 14 Aerospace & Defense; 1st of 14 on P/E; 4th of 15 on quality score.

Compared with 14 Aerospace & Defense

14 companies
  • Garden Reach Shipbuilders & Engineers Ltd (this page)
  • Bharat Dynamics Ltd
  • Data Patterns (India) Ltd
  • Sigma Advanced System Ltd
  • Aequs Ltd
  • Astra Microwave Products Ltd
  • Apollo Micro Systems Ltd
  • Zen Technologies Ltd
  • Paras Defence and Space Technologies Ltd
  • Unimech Aerospace and Manufacturing Ltd
  • AXISCADES Technologies Ltd
  • Mishra Dhatu Nigam Ltd
  • Cyient DLM Ltd
  • Centum Electronics Ltd
  • Rossell Techsys Ltd

Garden Reach Shipbuilders & Engineers against its peers

Largest 10 of 14 peers, by market cap
CompanyMarket capP/EP/BROEROCE1YQuality 🔒Rank 🔒
Garden Reach Shipbuilders & Engineers Ltd₹23,849 Cr29.38.631.8%41.2%−20.1%
Bharat Dynamics Ltd₹39,919 Cr75.7—14.4%10.2%−27.9%
Data Patterns (India) Ltd₹22,858 Cr85.39.816.7%22.7%+50.2%
Sigma Advanced System Ltd₹18,265 Cr103.75.4-6.1%11.4%+525.9%
Aequs Ltd₹17,833 Cr—4.31.7%2.6%+75.8%
Astra Microwave Products Ltd₹16,044 Cr83.06.514.9%18.5%+55.7%
Apollo Micro Systems Ltd₹14,916 Cr112.25.112.5%15.6%+26.7%
Zen Technologies Ltd₹14,537 Cr76.36.38.3%11.2%+15.5%
Paras Defence and Space Technologies Ltd₹10,417 Cr108.23.513.0%17.8%+82.7%
Unimech Aerospace and Manufacturing Ltd₹9,148 Cr122.56.53.1%5.0%+91.1%
AXISCADES Technologies Ltd₹8,647 Cr243.516.23.6%7.5%+27.6%
Peer median—103.76.310.7%11.1%+55.0%
Market cap in rupees crore; P/E and P/B on the latest price; 1Y is the price return over a year. A dash is a figure that does not apply or is not reported.

Full peer comparison

🔒 Pro
Every peer, every figure, the ranks and the quality and forensic scores side by side: in the app.

Who owns Garden Reach Shipbuilders & Engineers?

Garden Reach Shipbuilders & Engineers is held by promoters 74.5%, foreign institutions 3.2%, domestic institutions 2.0%.

Shareholding pattern

Latest filing, percent of shares
Promoters74.5%
The founders and controlling group.
Foreign institutions3.2%
Overseas funds investing through the FPI route.
Domestic institutions2.0%
Indian insurers, banks, pension and mutual funds together.
Mutual funds1.6%
Indian mutual fund schemes; part of domestic institutions.
Retail and others16.8%
Individual investors and everyone else.
Promoter shares pledged🔒 In the app
Promoter shares given as collateral for loans; a high share is a risk to watch.
Holding trend🔒 In the app
Whether promoters, foreign funds and mutual funds have been adding or selling over recent quarters.

What do analysts say about Garden Reach Shipbuilders & Engineers?

7 analysts cover Garden Reach Shipbuilders & Engineers, and the consensus is hold. A consensus is a count of opinions, not a forecast; read it beside the numbers.

Analyst consensus

7 analysts
ConsensusHold
The rating most covering analysts give the share.
Average target price🔒 In the app
The mean of the analysts' 12-month price targets.
Upside to target🔒 In the app
How far the target sits above or below today's price.
Share rating it a buy🔒 In the app
The share of covering analysts with a buy rating.

What does Garden Reach Shipbuilders & Engineers do and what is it sensitive to?

Garden Reach Shipbuilders & Engineers builds warships, vessels, Bailey bridges and ship engines, mainly for the Indian defence services, and also earns from ship repair, engineering products and a small export book. Sensitive to: foreign exchange rates on imports and exports.

Business-model card

FY2025 · 43 verified
2Revenue
4Channels
2Regulators
5Reg. dependencies
5Sensitivities
5Costs
3Geographies

Garden Reach Shipbuilders & Engineers builds warships, vessels, Bailey bridges and ship engines, mainly for the Indian defence services, and also earns from ship repair, engineering products and a small export book. Shipbuilding revenue is recognised over time as contract progress is measured, so reported revenue follows the stage of completion.

Revenue engine

2 verified
Shipbuilding (93.8%)
Largest line by turnover. Contract revenue is recognised over time using the input method, so the timing of revenue depends on cost-to-complete estimates. Interpretation: the 93.81% share is the turnover share for shipbuilding in the same table.
Diesel engines (1.0%)
Diesel engine line. Revenue from construction, overhaul of diesel engines is recognised over time using the input method.

Customers & channels

4 verified
Indian Defence Services
Majority of supplies go to these buyers, so defence budgets and procurement decisions drive order flow.
Government civil agencies
Also serves public works and state government bodies, which are a secondary buyer group.
Government e-Market (GeM) procurement
Procurement channel used for government orders; the excerpt gives a target procurement volume of Rs 1,599.06 crore in FY 2024-25.
1 more statement
Customer dependency
Company lists large dependency on customers at every stage of shipbuilding as a threat, so order timing from a few buyers matters.

Regulators

2 verified
Ministry of Defence
Administrative ministry for the company. Its role on board appointments is stated; Interpretation: its role as the principal buyer is implied by the defence customer base.
Department of Public Enterprises
Issues the corporate governance guidelines that apply to the company as a central public sector enterprise (CPSE).

Regulatory dependencies

5 verified
Make in India local content rule
Procurement policy requires a minimum local content in supplies. Interpretation: a tighter local-content threshold would raise the cost of imported equipment and components, a line that is 301,428.26 lakh in FY2025.
Government shipbuilding policy for non-defence ships
Financial assistance to shipbuilders for non-defence ships is said to aim at cost competitiveness. Interpretation: changes to this assistance would affect the commercial shipbuilding opportunity.
Integrity Pact on contracts
Integrity Pact is adopted for all orders and contracts of value Rs 200 lakh and above. Interpretation: this adds a compliance obligation to procurement and contracting.
2 more statements
Revenue recognition under Ind AS 115 (input method)
Revenue timing depends on estimated cost to complete each contract. Interpretation: a change in cost estimates shifts revenue between periods.
Board composition penalties under SEBI LODR
Penalties in FY2025 for not having enough independent directors; penalty amount stated per exchange. Interpretation: a cost item, not a sales restriction.

Sensitivities

5 verified
Foreign exchange rates on imports and exports
Import outflows in foreign currency are mostly reimbursable from buyers, which limits the net exposure. Interpretation: rupee moves mainly affect the unreimbursed part, and the sensitivity table shows small profit effects.
USD rate sensitivity
A 3.91% rise in INR/USD is shown with a profit-before-tax effect of (31) lakh at 31 March 2025. Direction: a rupee appreciation against the dollar is shown with a positive effect of 28 lakh for a 3.58% fall.
Customer payment timing
Trade receivables carry no stated credit terms and are monitored regularly. Interpretation: slower customer payment ties up working capital.
2 more statements
Interest rates on overdraft
Interest on bank overdraft fell from 683.42 lakh to 296.66 lakh. Interpretation: a rise in short-term rates would raise finance cost on any overdraft drawn.
Equipment delivery delays
Delays from nomination of specific firms by the customer can affect delivery timelines. Interpretation: delays push revenue recognition and cash receipts later.

Cost inputs

5 verified
Equipment and components
Largest materials line at 3,01,428.26 lakh in FY2025. Purchased through qualified suppliers, either directly from OEMs or their authorised distributors or stockiests.
Equipments & components cost line
Cost of materials consumed under this line rose from 1,74,699.79 lakh to 3,01,428.26 lakh.
Technicians' fees
Project-related expense that rose from 6,817.32 lakh to 11,114.24 lakh in FY2025.
2 more statements
Salaries and wages
Largest employee cost line at 27,991.27 lakh in FY2025.
Imported materials
Imports consumed during the year were Rs 419.00 crore in FY2025, against Rs 332.88 crore in FY2024.

Geographies

3 verified
Indian territory
Product reach covers the entire Indian territory through defence forces, which is the core market.
Export reach across countries
Products reach around 11 countries.
Nepal and Bhutan export sets
Portable steel bridge units exported as 14 sets worth Rs 27.93 crore to Nepal and Bhutan.
Each statement is checked word for word against the FY2025 annual report; the passages are in the app.

What changed recently?

Dividend - Rs 6.70 Per Share (18 Sep 2026).

Change log

8 entries · newest first
  1. Corporate actionDividend - Rs 6.70 Per Share.
  2. Results filedQ1 FY2027 results filed.
  3. Results filedQ4 FY2026 results filed.
  4. Corporate actionInterim Dividend - Rs 7.15 Per Share.
  5. Results filedQ3 FY2026 results filed.
  6. Corporate actionInterim Dividend - Rs 5.75 Per Sh.
  7. Results filedQ2 FY2026 results filed.
  8. Corporate actionDividend - Rs 4.90 Per Share.
Get alerts →Sign in to be told when any of these change.

What this page does not tell you

What could not be judged, and why. Never empty.
  • Models not runFair value, EPV, Graham number, Graham value, Lynch, Owner earnings: no valuation stored.
  • FlagsCAUTION on 30 of 30 flags judged; 3 red.
  • Data gapsDividend yield, Business quality, EPS: not available yet.

What this page rests on

✓10 years of annual statements, through FY2026 (Mar-26)✓10 quarters of results✓96 months of month-end prices, adjusted for bonuses and splits○no valuation of ours yet✓business-model card FY2025 · 43 verified

Questions people ask

What is Garden Reach Shipbuilders & Engineers's share price today?

Garden Reach Shipbuilders & Engineers last traded at ₹2,128.40 on the NSE, as of 13 Oct 2026, 10:45 am IST, up 2.2% on the day, down 20.1% over a year. Its 52-week range is ₹1,964 to ₹3,339. The live price is in the app.

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

Garden Reach Shipbuilders & Engineers's market capitalisation is about ₹23,849 crore: what it would cost to buy every share at today's price. That makes it the 79th largest small cap company we cover.

Is Garden Reach Shipbuilders & Engineers Ltd a large cap, mid cap or small cap?

Garden Reach Shipbuilders & Engineers Ltd (GRSE) is a small cap company in AMFI's classification for Jan-Jun 2026. SEBI's buckets go by rank on six-month average market capitalisation: the top 100 are large caps, 101 to 250 mid caps, the rest small caps.

What is Garden Reach Shipbuilders & Engineers Ltd's P/E ratio?

29.27, vs peers 103.7 · 1st of 14. Price divided by last year's earnings per share: how many years of today's profit you pay for.

Is Garden Reach Shipbuilders & Engineers Ltd overvalued?

Fair, with low confidence: no valuation within 120 days; P/E 29.3 vs peers 104 (1st of 14); P/B 8.6 vs peers 6.3 (10th of 14).

How does Garden Reach Shipbuilders & Engineers Ltd make money?

Garden Reach Shipbuilders & Engineers builds warships, vessels, Bailey bridges and ship engines, mainly for the Indian defence services, and also earns from ship repair, engineering products and a small export book. Shipbuilding revenue is recognised over time as contract progress is measured, so reported revenue follows the stage of completion.

Who are Garden Reach Shipbuilders & Engineers Ltd's peers?

Compared with 14 Aerospace & Defense: Bharat Dynamics Ltd, Data Patterns (India) Ltd, Sigma Advanced System Ltd, Aequs Ltd, Astra Microwave Products Ltd and 9 more. The app shows how they compare on every figure.

Is this investment advice?

No. Valarth is a research and learning tool and is not a SEBI-registered investment adviser or research analyst. The figures come from the company's filings and the exchanges; what to do with them is your call.

How did Garden Reach Shipbuilders & Engineers do last quarter?

Garden Reach Shipbuilders & Engineers reported revenue of ₹1,815 Cr, up 38.0% on a year earlier and a net profit of ₹173 Cr, up 41.8% in the Jun 2026 quarter.

Who owns Garden Reach Shipbuilders & Engineers?

Garden Reach Shipbuilders & Engineers is held by promoters 74.5%, foreign institutions 3.2%, domestic institutions 2.0%.

Does Garden Reach Shipbuilders & Engineers pay a dividend?

Garden Reach Shipbuilders & Engineers last paid ₹6.70 a share, ex-dividend 18 Sep 2026; nothing in the past 12 months counts toward a yield.

What do analysts say about Garden Reach Shipbuilders & Engineers?

7 analysts cover Garden Reach Shipbuilders & Engineers, and the consensus is hold. A consensus is a count of opinions, not a forecast; read it beside the numbers.

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