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Garden Reach Shipbuilders & Engineers Ltd. (IN:GRSE)
:GRSE
India Market
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Garden Reach Shipbuilders & Engineers Ltd. (GRSE) AI Stock Analysis

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IN:GRSE

Garden Reach Shipbuilders & Engineers Ltd.

(GRSE)

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Neutral 67 (OpenAI - 4o)
Rating:67Neutral
Price Target:
₹2,870.00
▲(6.94% Upside)
Garden Reach Shipbuilders & Engineers Ltd. scores well in financial performance due to strong revenue and profit growth, but cash flow management needs improvement. Technical analysis shows short-term bullish momentum, though medium-term resistance is present. The high P/E ratio suggests potential overvaluation, which, combined with a modest dividend yield, impacts the overall score.

Garden Reach Shipbuilders & Engineers Ltd. (GRSE) vs. iShares MSCI India ETF (INDA)

Garden Reach Shipbuilders & Engineers Ltd. Business Overview & Revenue Model

Company DescriptionGarden Reach Shipbuilders & Engineers Limited engages in the construction of war ships in India. The company offers 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 fast interceptor boats to the Indian Navy, Indian Coast Guard, and other governments. It also provides portable bridges, deck machinery items, marine pumps, anchor capstan, anchor windlass, mooring and dock capstan, general purpose davits, ammunition davit/ rocket launcher davit, electric boat and electro-hydraulic boat davits, electro-hydraulic deck cranes, survey motorboat and hydrographic davits, oceanographic winch, anchor cum general purpose winches for beaching operations, telescopic hangars, helo traversing systems, and various types of naval pumps. In addition, the company engages in the testing and overhauling of marine propulsion engines, as well as assembly of semi-knocked down units of diesel engines. Garden Reach Shipbuilders & Engineers Limited was incorporated in 1934 and is based in Kolkata, India.
How the Company Makes MoneyGRSE generates revenue through the construction and sale of naval and commercial vessels. The primary revenue stream comes from contracts with the Indian government, particularly the Ministry of Defense, for building warships and support vessels. GRSE also engages in export activities, selling ships and related services to foreign governments. Additionally, the company earns income from engineering services, including ship repair and maintenance. Strategic partnerships with global defense and engineering firms enhance GRSE's capabilities and contribute to its revenue by expanding its client base and technological expertise.

Garden Reach Shipbuilders & Engineers Ltd. Financial Statement Overview

Summary
Garden Reach Shipbuilders & Engineers Ltd. demonstrates strong financial health with robust revenue and profit growth, supported by efficient cost management and operational efficiency. The balance sheet reflects a strong equity position with manageable debt levels. However, cash flow management shows room for improvement to ensure sustained financial stability.
Income Statement
85
Very Positive
Garden Reach Shipbuilders & Engineers Ltd. shows strong financial performance with a significant increase in revenue and profitability. The Gross Profit Margin has improved, indicating efficient cost management. The EBIT and EBITDA margins also reflect operational efficiency. The company displays a consistent revenue growth trajectory, with a notable increase in Net Profit Margin, suggesting effective cost controls and pricing strategies.
Balance Sheet
78
Positive
The company's balance sheet indicates a solid equity base, with a moderate Debt-to-Equity Ratio demonstrating low leverage. The Return on Equity is strong, reflecting high profitability relative to shareholder equity. The Equity Ratio suggests a stable financial structure. However, the relatively high total liabilities could pose a risk if not managed prudently.
Cash Flow
70
Positive
Cash flow analysis reveals a mixed picture with fluctuations in Free Cash Flow and Operating Cash Flow. While there has been a recovery from negative cash flows in prior years, indicating improved cash management, consistent positive cash flows are essential for sustainability. The Operating Cash Flow to Net Income Ratio and Free Cash Flow to Net Income Ratio suggest that cash generation may need to align more closely with reported profits.
BreakdownTTMDec 2025Dec 2024Dec 2023Dec 2022Dec 2021
Income Statement
Total Revenue53.76B50.76B35.93B25.61B17.54B11.41B
Gross Profit11.85B10.57B6.84B1.95B5.46B1.38B
EBITDA8.10B7.56B5.35B3.51B2.95B2.39B
Net Income5.60B5.27B3.57B2.28B1.90B1.53B
Balance Sheet
Total Assets0.00103.54B102.52B107.76B76.32B67.83B
Cash, Cash Equivalents and Short-Term Investments37.32B39.37B33.81B41.42B23.30B28.08B
Total Debt0.0096.69M656.71M3.12B112.04M36.93M
Total Liabilities-20.79B82.75B85.78B93.62B63.74B56.46B
Stockholders Equity20.79B20.79B16.73B14.14B12.58B11.37B
Cash Flow
Free Cash Flow0.00-514.69M-7.55B14.08B-4.11B3.51B
Operating Cash Flow0.00155.87M-7.07B14.50B-3.56B5.15B
Investing Cash Flow0.001.70B10.56B-16.66B4.29B-11.73B
Financing Cash Flow0.00-1.87B-3.58B2.20B-724.89M-624.48M

Garden Reach Shipbuilders & Engineers Ltd. Technical Analysis

Technical Analysis Sentiment
Positive
Last Price2683.75
Price Trends
50DMA
2554.93
Positive
100DMA
2738.27
Negative
200DMA
2160.92
Positive
Market Momentum
MACD
47.22
Negative
RSI
57.42
Neutral
STOCH
67.20
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:GRSE, the sentiment is Positive. The current price of 2683.75 is above the 20-day moving average (MA) of 2617.47, above the 50-day MA of 2554.93, and above the 200-day MA of 2160.92, indicating a bullish trend. The MACD of 47.22 indicates Negative momentum. The RSI at 57.42 is Neutral, neither overbought nor oversold. The STOCH value of 67.20 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for IN:GRSE.

Garden Reach Shipbuilders & Engineers Ltd. Peers Comparison

Overall Rating
UnderperformOutperform
Sector (63)
Financial Indicators
Name
Overall Rating
Market Cap
P/E Ratio
ROE
Dividend Yield
Revenue Growth
EPS Growth
73
Outperform
₹3.24T38.940.84%2.07%0.81%
70
Outperform
₹3.00T54.550.59%14.23%29.82%
70
Outperform
₹1.16T53.480.61%21.24%-6.43%
69
Neutral
₹483.71B57.520.67%24.03%-2.11%
67
Neutral
₹310.60B55.430.52%39.76%52.37%
63
Neutral
$10.79B15.437.44%2.01%2.89%-14.66%
63
Neutral
₹560.66B99.980.30%50.34%-3.00%
* Industrials Sector Average
Performance Comparison
Ticker
Company Name
Price
Change
% Change
IN:GRSE
Garden Reach Shipbuilders & Engineers Ltd.
2,683.75
955.14
55.25%
IN:BDL
Bharat Dynamics Ltd.
1,495.25
281.66
23.21%
IN:BEL
Bharat Electronics Limited
403.65
119.04
41.83%
IN:COCHINSHIP
Cochin Shipyard Limited
1,798.40
112.68
6.68%
IN:HAL
Hindustan Aeronautics Limited
4,786.85
352.90
7.96%
IN:MAZDOCK
Mazagon Dock Shipbuilders Ltd.
2,888.20
689.94
31.39%

Garden Reach Shipbuilders & Engineers Ltd. Corporate Events

GRSE Discusses Q1 FY26 Financial Results in Investor Call
Aug 26, 2025

Garden Reach Shipbuilders & Engineers Ltd. held an investor and analyst conference call to discuss its unaudited financial results for the first quarter of fiscal year 2026. The call, which took place on August 19, 2025, provided insights into the company’s financial performance and strategic direction, potentially impacting its market positioning and stakeholder interests.

GRSE Announces Senior Management Promotions
Jun 30, 2025

GRSE has announced key changes in its senior management, effective July 1, 2025. Mr. Sujoy Chakravorty has been promoted to Chief General Manager, while Mr. Prashanta Kumar Mondal and Mr. Kingshuk Mistry have been elevated to General Managers. These promotions reflect the company’s focus on leveraging internal talent and leadership to strengthen its operational capabilities and maintain its competitive edge in the shipbuilding industry.

Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.

Disclaimer

This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.Date of analysis: Oct 02, 2025