Garden Reach Ship&eng Ltd
NSE: GRSE · Aerospace & Defense · sector
₹1,869.10NSE close 2026-10-26
Key numbers
Market cap₹21,411 cr
Price₹1,869.10
52w high / low₹3,339 / ₹1,869
P/E26.7xSector median 75.3x
P/B8.2xSector median 8.2x
Book value₹229.2
Dividend yield0.95%Sector median 0.15%
ROE34.0%Sector median 12.6%
ROCE41.2%Sector median 13.7%
OPM11.1%Sector median 20.9%
Debt / equity0.00xSector median 0.11x
EV/EBITDA21.6xSector median 59.6x
Interest cover78.5x
Current ratio1.23x
Sales growth 3y+39.8%Sector median +15.9%
Profit growth 3y+48.6%Sector median +32.2%
PEG0.55x
Last 12 months to Jun 2026, Standalone. "Sector median" = middle value of 29 companies in Aerospace & Defense (P/E median leaves out loss-making companies). Tap ? for what a number means.
Things to know
- Cash ₹3,388 cr vs borrowings ₹0 cr (FY26): cash is higher (net cash).
- Operating profit covered interest 78.5x in the last 12 months.
- Operating cash flow was below net profit in 4 of the last 5 years (FY26, FY25, FY24, FY22).
- Revenue was higher than a year earlier in 4 of the last 4 quarters.
- Other income was 38% of net profit in the last 12 months.
- Debtor days went from 20 (FY24) to 64 (FY26).
- Dividend paid in 5 of the last 5 financial years.
- Price ₹1,869.10 on 2026-10-26: -44.0% from the 52-week high, 0.0% from the 52-week low.
Plain facts from the filings, built by the same fixed rules for every company. A line appears only when the data for it is available. Not a view on the stock.
Charts
Weekly close · high ₹3,235.40 · low ₹1,214.35
RevenueNet profit
RevenueNet profit
Quarterly results
| ₹ cr | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 1,153 | 1,271 | 1,642 | 1,310 | 1,677 | 1,896 | 2,119 | 1,815 |
| EBITDA | 69 | 75 | 221 | 112 | 156 | 172 | 355 | 149 |
| OPM % | 6.0% | 5.9% | 13.5% | 8.5% | 9.3% | 9.1% | 16.8% | 8.2% |
| Other income | 75 | 72 | 114 | 73 | 69 | 62 | 71 | 100 |
| Net profit | 98 | 98 | 244 | 120 | 154 | 171 | 303 | 173 |
| EPS (₹) | 8.54 | 8.57 | 21.32 | 10.49 | 13.43 | 14.91 | 26.47 | 15.09 |
| Revenue YoY | +45.5% | +49.1% | +29.1% | +38.5% | ||||
| Profit YoY | +57.3% | +73.9% | +24.1% | +43.8% |
Standalone figures where filed. Latest quarter Jun 2026.
Profit & loss (yearly)
| ₹ cr | FY22 | FY23 | FY24 | FY25 | FY26 | TTM |
|---|---|---|---|---|---|---|
| Revenue | 1,758 | 2,561 | 3,593 | 5,076 | 7,002 | 7,507 |
| EBITDA | 133 | 149 | 234 | 421 | 795 | 833 |
| Net profit | 190 | 228 | 357 | 527 | 748 | 801 |
| EPS (₹) | 16.55 | 19.91 | 31.19 | 46.04 | 65.29 | 69.90 |
| Revenue growth | +45.7% | +40.3% | +41.3% | +38.0% | +39.6% | |
| Profit growth | +20.4% | +56.6% | +47.6% | +41.8% | +42.9% | |
| Dividend / share (₹) | 6.10 | 6.35 | 8.62 | 10.39 | 17.80 |
| Compounded growth | 3 years | 5 years | Last 12 months |
|---|---|---|---|
| Sales | +39.8% | +43.7% | +39.6% |
| Net profit | +48.6% | +37.3% | +42.9% |
| EPS | +48.6% | +37.3% | – |
| Share price | – | +5.9% (2y) | -23.4% |
Balance sheet
| ₹ cr | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Shareholders' equity | – | 1,414 | 1,673 | 2,079 | 2,626 |
| Borrowings | – | 301 | 56 | 0 | 0 |
| Cash & equivalents | – | 4,561 | 3,720 | 3,732 | 3,388 |
| Total assets | – | 10,776 | 10,252 | 10,354 | 10,636 |
| Fixed assets | – | 499 | 485 | 499 | 557 |
| Capital work in progress | – | 5 | 12 | 21 | 16 |
| Investments | – | 0 | 0 | 0 | 0 |
| Receivables | – | 51 | 194 | 259 | 1,221 |
| Inventory | – | 2,918 | 3,984 | 3,552 | 3,402 |
| Payables | – | 1,174 | 992 | 1,151 | 1,828 |
Year-end figures from the March annual filing.
Cash flow
| ₹ cr | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Cash from operations | -356 | 1,450 | -707 | 16 | -290 |
| Cash from investing | 428 | -1,666 | 1,056 | 170 | 527 |
| Cash from financing | -72 | 220 | -358 | -187 | -223 |
| Capex | 55 | 42 | 48 | 67 | 77 |
| Free cash flow | -411 | 1,408 | -755 | -51 | -367 |
Free cash flow = cash from operations − capex.
Ratios by year
| ₹ cr | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| ROE % | – | 16.1% | 21.3% | 25.4% | 28.5% |
| ROCE % | – | 18.2% | 28.5% | 34.3% | 38.9% |
| Debtor days | – | 7 | 20 | 19 | 64 |
| Inventory days | – | 661 | 646 | 367 | 306 |
| Payable days | – | 266 | 161 | 119 | 164 |
| Cash conversion cycle (days) | – | 402 | 505 | 267 | 206 |
| Working capital days | – | 93 | 101 | 99 | 96 |
Shareholding
| Holder | % (2026-09-30) |
|---|---|
| Promoters | 74.50% |
| FIIs | 3.17% |
| DIIs | 2.00% |
| of which Mutual funds | 1.59% |
| of which Insurance | 0.32% |
| Government | 0.00% |
| Public (non-institutions) | 20.32% |
| Quarter | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | Sep 2026 |
|---|---|---|---|---|---|---|---|---|
| Promoters % | 74.50% | 74.50% | 74.50% | 74.50% | 74.50% | 74.50% | 74.50% | 74.50% |
| Promoter group | % |
|---|---|
| The President of India | 74.50% |
3,99,640 shareholders. Pledged: – of promoter shares.
Peers in Aerospace & Defense
| Company | Market cap | P/E | P/B | ROE | ROCE | OPM | Sales 3y | Div yield |
|---|---|---|---|---|---|---|---|---|
| HAL | ₹3,19,342 cr | 34.3x | 7.8x | 24.5% | 30.2% | 29.6% | +7.1% | 1.05% |
| BEL | ₹2,65,346 cr | 43.2x | 11.1x | 28.0% | 34.1% | 28.6% | +15.9% | 0.79% |
| BDL | ₹37,719 cr | 72.4x | 8.9x | 12.6% | 16.8% | 12.7% | -0.6% | 0.51% |
| GRSE | ₹21,411 cr | 26.7x | 8.2x | 34.0% | 41.2% | 11.1% | +39.8% | 0.95% |
| DATAPATTNS | ₹21,133 cr | 78.8x | 12.2x | 16.5% | 21.4% | 39.3% | +26.8% | 0.21% |
| AEQUS | ₹16,257 cr | – | 10.9x | -7.6% | 1.1% | 7.6% | – | – |
| APOLLO | ₹15,269 cr | 118.8x | 11.6x | 12.7% | 11.6% | 22.6% | +44.9% | 0.06% |
| ASTRAMICRO | ₹14,226 cr | 75.3x | 10.8x | 15.7% | 18.6% | 28.6% | +12.6% | 0.15% |
| ZENTEC | ₹13,947 cr | 77.1x | 7.4x | 10.3% | 14.6% | 32.6% | +46.5% | 0.13% |
| PARAS | ₹10,105 cr | 107.0x | 13.9x | 13.8% | 17.5% | 26.1% | +28.9% | 0.04% |
Dividends & corporate actions
| Ex-date | Action | Detail |
|---|---|---|
| 2026-09-18 | Dividend | Dividend - Rs 6.70 Per Share |
| 2026-02-03 | Dividend | Interim Dividend - Rs 7.15 Per Share |
| 2025-11-11 | Dividend | Interim Dividend - Rs 5.75 Per Sh |
| 2025-09-12 | Dividend | Dividend - Rs 4.90 Per Share |
| 2025-02-07 | Dividend | Interim Dividend - Rs 8.95 Per Share |
| 2024-09-13 | Dividend | Annual General Meeting/Dividend - Rs 1.44 Per Share |
| 2024-02-23 | Dividend | Interim Dividend - Rs 7.92 Per Share |
| 2023-09-15 | Dividend | Annual General Meeting/Dividend - Re 0.70 Per Share |
| 2023-02-20 | Dividend | Interim Dividend - Rs 5.50 Per Share |
| 2022-09-16 | Dividend | Annual General Meeting/Dividend - Rs 0.85 Per Share |
| 2022-02-22 | Dividend | Interim Dividend - Rs 4.95 Per Share |
| 2021-09-02 | Dividend | Annual General Meeting/Dividend - Rs 1.15 Per Share |
| 2021-02-17 | Dividend | Interim Dividend - Rs 3.85 Per Share |
| 2020-09-03 | Dividend | Annual General Meeting/Dividend - Rs 1.40 Per Share |
| 2020-03-26 | Dividend | Interim Dividend - Rs 5.74 Per Share |
| 2019-09-12 | Dividend | Annual General Meeting/Dividend - Rs 5.10 Per Share |
| 2019-03-27 | Dividend | Interim Dividend - Rs 1.85 Per Share |
Documents
- Annual report FY26
- Annual report FY25
- Annual report FY24
- Annual report FY23
- Annual report FY22
- Announcements NSE filings
- BRSR FY26
- Latest results (data file) XBRL
- Announcements BSE filings
Links go to the original files on the exchange website.
About the company
- Manufacturing: Shipbuilding
- Manufacturing: Engineering
- Manufacturing: Diesel Engine
- Service: Ship Repair
| Sector | Industrials |
| Industry | Aerospace & Defense |
| Sub-industry | Aerospace & Defense |
| Symbol | GRSE |
| BSE code | 542011 |
| ISIN | INE382Z01011 |
| Face value | ₹10.0 |
| Incorporated | 1934-02-26 |
| Website | www.grse.in |
| Plants (India / abroad) | 7 / 0 |
From the company's filings (BRSR FY26).
Data built 2026-10-22 from NSE company filings (XBRL: Integrated Filing - Financials + financial results), NSE shareholding & pledge data; price = NSE close 2026-10-26.