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Garden Reach Ship Overview

Garden Reach Shipbuilders & Engineers Ltd engages within the construction of war ships in India. The organization offer frigates, anti-submarine warfare corvettes, missile corvettes, landing ship tanks, landing craft utilities, survey vessels, fleet replenishment tankers, fast patrol vessels, offshore patrol vessels, inshore patrol vessels, water jet fast attack craft, hovercrafts, and speedy interceptor boats to the Indian Navy, Indian Coast Guard, and different governments. It also presents portable bridges, deck equipment objects, marine pum...Read More

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Garden Reach Ship Key Financials

Market Cap ₹31067 Cr.

Stock P/E 58.9

P/B 12.6

Current Price ₹2712

Book Value ₹ 215.3

Face Value 10

52W High ₹3535

Dividend Yield 0.51%

52W Low ₹ 1596.6

Garden Reach Ship Share Price

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Volume
Price

Garden Reach Ship Quarterly Price

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Garden Reach Ship Peer Comparison

Garden Reach Ship Quarterly Results

#(Fig in Cr.) Sep 2023 Dec 2023 Mar 2024 Jun 2024 Sep 2024 Dec 2024 Mar 2025 Jun 2025 Sep 2025 Dec 2025
Net Sales 898 923 1016 1010 1153 1271 1642 1310 1677 1896
Other Income 72 82 76 74 75 72 114 73 69 62
Total Income 969 1005 1092 1084 1228 1343 1756 1382 1746 1958
Total Expenditure 849 874 925 953 1084 1195 1421 1198 1521 1724
Operating Profit 120 130 166 130 144 147 335 184 225 234
Interest 2 1 3 4 2 2 1 6 4 4
Depreciation 10 10 10 10 11 11 10 12 12 12
Exceptional Income / Expenses 0 0 0 0 0 0 0 0 0 0
Profit Before Tax 107 119 153 115 131 134 324 167 209 218
Provision for Tax 27 30 41 28 33 36 79 47 56 47
Profit After Tax 81 88 112 87 98 98 244 120 154 171
Adjustments 0 0 0 -0 0 0 0 -0 0 0
Profit After Adjustments 81 88 112 87 98 98 244 120 154 171
Adjusted Earnings Per Share 7 7.7 9.7 7.6 8.5 8.6 21.3 10.5 13.4 14.9

Garden Reach Ship Profit & Loss

#(Fig in Cr.) Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 TTM
Net Sales 2304 1655 922 1348 1386 1433 1141 1754 2561 3593 5076 6525
Other Income 69 185 217 183 171 225 186 161 202 300 335 318
Total Income 2374 1840 1139 1531 1558 1659 1327 1916 2763 3892 5411 6842
Total Expenditure 2284 1575 1083 1367 1344 1391 1060 1613 2408 3354 4649 5864
Operating Profit 90 266 56 164 213 267 267 302 355 539 762 978
Interest 2 4 9 8 5 3 10 2 10 16 16 15
Depreciation 27 28 27 29 27 30 29 36 39 41 42 46
Exceptional Income / Expenses 15 16 0 0 -2 -11 -21 -8 0 0 0 0
Profit Before Tax 76 249 20 128 179 224 207 257 305 481 703 918
Provision for Tax 33 87 9 35 69 60 54 68 77 124 176 229
Profit After Tax 43 162 11 92 110 163 153 190 228 357 527 689
Adjustments 0 0 0 0 0 0 0 0 0 0 0 0
Profit After Adjustments 43 162 11 92 110 163 153 190 228 357 527 689
Adjusted Earnings Per Share 3.5 13.1 0.9 8.1 9.6 14.3 13.4 16.5 19.9 31.2 46 60.1

Growth Rates

# 1 Year 3 Year 5 Year 10 Year
Sales CAGR 41% 43% 29% 8%
Operating Profit CAGR 41% 36% 23% 24%
PAT CAGR 48% 41% 26% 28%
# 1 Year 3 Year 5 Year 10 Year
Share Price CAGR 58% 80% 73% NA%
ROE Average 28% 23% 20% 14%
ROCE Average 38% 29% 26% 20%

Garden Reach Ship Balance Sheet

#(Fig in Cr.) Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
Shareholder's Funds 968 1134 1083 1022 1038 1040 1137 1258 1414 1673 2079
Minority's Interest 0 0 0 0 0 0 0 0 0 0 0
Borrowings 22 0 25 0 0 0 0 0 0 0 0
Other Non-Current Liabilities 166 33 37 80 83 275 238 321 224 349 320
Total Current Liabilities 6358 3284 3421 3217 3068 4247 5548 6256 9241 8456 8149
Total Liabilities 7513 4451 4567 4319 4190 5562 6924 7835 10878 10479 10549
Fixed Assets 366 344 358 389 302 304 340 501 508 493 515
Other Non-Current Assets 248 1280 920 1420 316 451 1106 1508 405 541 509
Total Current Assets 6900 2828 3288 2510 3571 4807 5477 5826 9966 9446 9524
Total Assets 7513 4451 4567 4319 4190 5562 6924 7835 10878 10479 10549

Garden Reach Ship Cash Flow

#(Fig in Cr.) Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
Opening Cash & Cash Equivalents 17 116 26 12 12 9 729 9 10 14 5
Cash Flow from Operating Activities 107 423 -191 -74 -112 628 515 -356 1450 -707 16
Cash Flow from Investing Activities 10 -483 227 267 198 245 -1173 429 -1666 1056 170
Cash Flow from Financing Activities -18 -30 -50 -193 -89 -153 -62 -72 220 -358 -187
Net Cash Inflow / Outflow 99 -90 -14 0 -3 720 -720 0 4 -9 -1
Closing Cash & Cash Equivalent 116 26 12 12 9 729 9 10 14 5 4

Garden Reach Ship Ratios

# Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
Earnings Per Share (Rs) 3.51 13.09 0.93 8.07 9.6 14.27 13.4 16.55 19.91 31.19 46.04
CEPS(Rs) 5.7 15.33 3.08 10.59 11.96 16.9 15.94 19.66 23.33 34.8 49.75
DPS(Rs) 2 4.3 4.37 4.44 6.95 7.14 5 5.8 6.2 9.36 13.85
Book NAV/Share(Rs) 78.14 91.59 87.46 89.18 90.64 90.81 99.27 109.81 123.42 146.09 181.51
Core EBITDA Margin(%) 0.89 4.87 -17.34 -1.39 3.04 2.93 7.13 8.05 5.97 6.65 8.41
EBIT Margin(%) 3.36 15.26 3.15 10.04 13.28 15.82 19.04 14.77 12.32 13.84 14.17
Pre Tax Margin(%) 3.29 14.99 2.16 9.47 12.91 15.62 18.15 14.66 11.92 13.39 13.86
PAT Margin (%) 1.88 9.75 1.23 6.85 7.93 11.41 13.45 10.8 8.91 9.94 10.39
Cash Profit Margin (%) 3.05 11.42 4.1 8.99 9.88 13.51 16 12.84 10.44 11.09 11.23
ROA(%) 0.62 2.71 0.25 2.08 2.58 3.35 2.46 2.57 2.44 3.35 5.02
ROE(%) 4.52 15.42 1.03 8.78 10.67 15.73 14.1 15.83 17.08 23.14 28.11
ROCE(%) 7.89 23.87 2.61 12.72 17.87 21.82 19.95 21.63 21.23 28.88 37.77
Receivable days 15.66 33.55 69.26 54.21 55.54 96.15 114.13 34.27 14.41 12.45 16.31
Inventory Days 774.34 572.67 223.96 135.08 113.56 100.67 196.59 203.9 291.5 350.66 270.99
Payable days 100.72 194.13 353.76 742.68 1373.87 1611.23 1279.93 1227.57 485.42 783.83 750.8
PER(x) 0 0 0 0 10.15 9.6 13.81 13.68 22.87 24.53 36.59
Price/Book(x) 0 0 0 0 1.08 1.51 1.86 2.06 3.69 5.24 9.28
Dividend Yield(%) 0 0 0 0 7.13 5.21 2.7 2.56 1.36 1.22 0.82
EV/Net Sales(x) -0.8 -0.7 -1.6 -0.67 -0.63 -0.73 -0.14 0.02 0.46 1.42 3.07
EV/Core EBITDA(x) -20.4 -4.36 -26.33 -5.52 -4.09 -3.9 -0.61 0.12 3.36 9.47 20.43
Net Sales Growth(%) 650.2 -28.16 -44.32 46.21 2.87 3.38 -20.4 53.79 45.98 40.27 41.28
EBIT Growth(%) -59.44 226.22 -88.47 363.25 35.91 23.18 -4.21 19.27 21.83 57.54 44.63
PAT Growth(%) -64.23 272.93 -92.92 705.96 18.98 48.7 -6.12 23.49 20.37 56.61 47.62
EPS Growth(%) -64.23 272.93 -92.92 771.31 18.98 48.7 -6.12 23.49 20.37 56.61 47.62
Debt/Equity(x) 0.02 0 0.02 0 0 0 0 0 0.21 0.03 0
Current Ratio(x) 1.09 0.86 0.96 0.78 1.16 1.13 0.99 0.93 1.08 1.12 1.17
Quick Ratio(x) 0.37 0.66 0.82 0.62 1.05 1.03 0.85 0.74 0.76 0.65 0.73
Interest Cover(x) 45.68 57.64 3.21 17.61 36 78.82 21.52 141.55 30.34 30.47 45.34
Total Debt/Mcap(x) 0 0 0 0 0 0 0 0 0.06 0.01 0

Garden Reach Ship Shareholding Pattern

# Dec 2023 Mar 2024 Jun 2024 Sep 2024 Dec 2024 Mar 2025 Jun 2025 Sep 2025 Dec 2025 Mar 2026
Promoter 74.5 74.5 74.5 74.5 74.5 74.5 74.5 74.5 74.5 74.5
FII 2.87 3.26 3.91 3.65 3.7 3.84 5.33 3.26 2.96 3.51
DII 6.03 6.14 3.2 1.87 1.87 1.9 1.81 1.99 1.64 1.69
Public 16.6 16.1 18.39 19.98 19.93 19.76 18.36 20.25 20.9 20.31
Others 0 0 0 0 0 0 0 0 0 0
Total 100 100 100 100 100 100 100 100 100 100

Garden Reach Ship News

Garden Reach Ship Pros & Cons

Pros

  • Company has delivered good profit growth of 26% CAGR over last 5 years
  • Company has a good return on equity (ROE) track record: 3 Years ROE 23%
  • Debtor days have improved from 783.83 to 750.8days.
  • Company is almost debt free.

Cons

  • Stock is trading at 12.6 times its book value.
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