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    Garden Reach Shipbuilders & Engineers Limited

    State-run Kolkata shipyard building warships for India's Navy & Coast Guard, plus bridges and diesel engines.

    Capital Goods
    Industrials
    View GRSE earnings calls
    ₹2,798.3
    +3.23% from avg

    Overview

    Price

    ₹2,798.3

    Market Cap

    ₹29.8k Cr

    Sector

    Capital Goods

    Industrials

    Rank

    1

    Performance

    Financials

    Income Statement

    Financial Trajectories

    11
    Quarterly

    Balance Sheet

    Balance Sheet

    ₹ Cr · Annual
    Line itemFY20FY21FY22FY23FY24FY25FY26FY26
    LiabilitiesEquity Capital115115115115115115115115
    Reserves9261.0k1.1k1.3k1.6k2.0k2.2k2.5k
    Borrowings041131266103237
    Other Liabilities4.4k5.7k6.4k9.1k8.5k8.3k8.7k8.0k
    Total Liabilities5.4k6.8k7.6k10.8k10.3k10.4k11.0k10.6k
    AssetsFixed Assets304340501508493515563584
    CWIP5215110625281816
    Investments548261972340000
    Other Assets5.0k5.5k6.9k10.0k9.7k9.8k10.4k10.0k
    Total Assets5.4k6.8k7.6k10.8k10.3k10.4k11.0k10.6k

    Cash Flow

    Cash Flow

    ₹ Cr · Annual
    Line itemFY19FY20FY21FY22FY23FY24FY25FY26
    ActivitiesCash from Operating-112628515-3561.4k-70716-290
    Cash from Investing198245-1.2k429-1.7k1.1k170527
    Cash from Financing-89-153-62-72220-358-187-223
    SummaryCapital Expenditure
    Free Cash Flow-164560351-4111.4k-755-51-367
    FCF Margin

    Valuation

    Assumptions

    Current — GRSE
    Price
    ₹2,798
    EPS (TTM)
    ₹65.30
    PE (TTM)
    42.9
    Profit growth
    48.6%

    The Earnings Per Share over the last 12 months.

    %

    Your assumption of the company's expected yearly EPS growth (e.g., 6 for 6%).

    Pre-filled with the lower of median (36.6×) and current (42.9×) PE — the conservative anchor.

    %

    The annualized return you aim to achieve. We solve for the price that delivers it, then compare to today's price.

    Valuation

    Current price
    ₹2,798
    vs
    Fair value · 15% return
    ₹8,881
    217%Undervalued

    At 48.6% growth and a 37× exit, ₹2798 only delivers your return if you pay ₹8,881. The price is currently baking in 21% growth.

    EPS grows 48.6%/yr for 5 years, then fades to 6% over 2, exits at 37×.

    YearGrowthEPS (₹)
    FY2748.6%97.04
    FY2848.6%144.20
    FY2948.6%214.27
    FY3048.6%318.41
    FY3148.6%473.16
    FY3227.3% ·fade602.33
    FY336.0% ·fade638.47

    Methodology: we discount normalized net profit as a proxy for owner earnings (an earnings-power approximation — not full free cash flow). Terminal growth is capped at 6% (≈ nominal GDP) regardless of the required return. This is an analytical tool, not investment advice.

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