Garden Reach Shipbuilders & Engineers Limited (GRSE) fair value: what the stock is really worth
As of Sep 30, 2026: fair value of Garden Reach Shipbuilders & Engineers Limited ₹1,027, price ₹2,182, upside -53.0%, quality 61 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
Watch Garden Reach Shipbuilders & Engineers Limited for free, get notified when fair value or trend changes. Plus fair value for all 35,000+ stocks, 14 days of Pro free, no card.Watch for freePro now: $1 first month
69 individual criteria per stock, every one traceableSee the method →
Price vs Fair Value
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Sep 29, 2026.
How to read this chart
60‑month range ₹171.16 – ₹3,458 · fair‑value band ₹653.17 – ₹1,421 · the ₹2,182 price screens above the ₹1,027 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). 1 fiscal year is left out: there the valuation rested on only a fraction of the usual models. Dashed = 300-day average. As of Sep 29, 2026.
Follow Garden Reach Shipbuilders & Engineers in your weekly email
Every Wednesday you see whether Garden Reach Shipbuilders & Engineers is on track or worth a review, plus price against fair value. Free, up to 3 stocks.
We send you a confirmation link. Unsubscribe with one click.
Garden Reach Shipbuilders & Engineers Limited engages in the design and construction of war ships in India.
Show more
Garden Reach Shipbuilders & Engineers Limited engages in the design and construction of war ships in India. The company offers frigates, anti-submarine warfare corvette, missile corvette, landing ship tank, landing craft utility, survey vessel, fleet replenishment tanker, fast patrol vessel, offshore patrol vessel, inshore patrol vessel, water jet fast attack craft, anti-submarine warfare shallow water craft, electric ferries, ocean going passenger and cargo ferry vessel, hovercraft, and fast interceptor boat products to the Indian Navy, Indian Coast Guard, and other government. It also provides unmanned surface vessels, autonomous underwater vessels, ship-based drones, and green platforms and naval surface guns. In addition, the company offers portable bridges; and deck machinery equipment, such as anchor capstans and windlass, mooring and dock capstans, general-purpose and ammunition davits, electric boats and electro-hydraulic drive deck machinery products, survey vessels, hydrographic and oceanographic surveys, helicopter traversing systems, and dock capstans and winches. Further, it engages in the assembling, overhauling, and testing of marine diesel engines, as well as provides dry docking and afloat maintenance, refit, and repair services for defense and commercial ships. The company was founded in 1884 and is based in Kolkata, India.
Stock analysis
Garden Reach Shipbuilders & Engineers Limited (GRSE) currently trades at ₹2,182, while our model-based Fair Value estimate is ₹1,027, 53.0% below the price, so the stock looks overvalued today.
Show more
Valuation
Bull case: the DCF Models group reads highest at a median of ₹2,394 per share, and 3 of the 17 models we run sit above the ₹2,182 price.
Bear case: the Asset-Based group reads lowest at ₹153.60, and 14 of the 17 models stay below the price. Evidence for this calculation is high.
Scenario range: ₹653.17 (bear) to ₹1,421 (bull), the price of ₹2,182 sits above it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.
Quality & growth
The Quality Score stands at 61/100 (solid quality), in the Industrials sector.
Expensive Growth: The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Garden Reach Shipbuilders & Engineers Limited reported revenue of ₹70.0B in FY2026 versus ₹17.5B in FY2022, a compound +41.5%/yr. Reported net income was ₹7.5B in FY2026, compounding +40.9%/yr from FY2022.
Key figures
Market cap ₹250B (≈ $2.6B) · P/E ratio 32.3 · P/S ratio 3.45 · EPS (TTM) ₹67.58 · Dividend yield 0.8% · Net margin 10.7% · Return on equity 31.8% · Return on assets (EBIT) 3.2%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 50 out of 100 (low confidence).
What moves the price
The share trades about 29% below its 52-week high and 11% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Industrials peers we cover trades at −25% fair-value upside, at −53%, GRSE screens richer than that median.
Fair Value models
Bear ₹653.17Fair Value ₹1,027Bull ₹1,421
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above is their evidence-weighted blend, not the output of a single model. Based on fiscal year 2026 figures (about 6 months old). Earnings retained since then (₹25.09 per share) are deliberately not added.Bear ⓘBear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull ⓘBull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. If a model's bull case is above four times its base value, the table shows that limit with a > sign (like the overall Bull above): beyond it no assumption holds.Evidence ⓘEvidence = how well-backed THIS model's estimate is for this stock (0–100): how complete and reliable its input data are, and how well the model fits the company. The final Fair Value is an evidence-weighted blend, so better-evidenced models count more. Green ≥70, amber 50–69, grey below 50.
Growth Quality ⓘGrowth is valuable only when reinvestment earns attractive returns (Aswath Damodaran): sustainable growth depends on return on capital, reinvestment and efficiency. Basis: total company revenue over the periods shown on the cards (3Y/5Y/all years), not per share, so a merger can show up as a growth jump; per-share earnings growth is in the value-creation card.62/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Revenue growth 1 year
+38.1%
Revenue growth 3 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+40.1%
Revenue growth 5 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+44.0%
Start year 2021 (pandemic). Over 10 years: +15.5% a year
Revenue growth 13 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+12.4%
’15
’16
’17
’18
’19
’20
’21
’22
’23
’24
’25
’26
What shareholders gained per year (last 5 years), in INR (mathematically smoothed) ⓘWhat the business itself delivers per year: earnings growth per share plus the dividend yield. This is what you get IF the market keeps valuing the stock the same way: it contains no assumption about the market changing its mind. Computed per share, so buybacks count and a merger does not pass as growth. For a company that pays no dividend it is pure earnings growth per share. Period: earnings growth per share as CAGR over the last 5 reported fiscal years (annual statements), plus the current dividend yield. The start value is the median of the three years around the start, so a single crisis year (a pandemic or a write-down) does not distort the rate. Smoothed = median of all growth paths between the years of the window (trend line on the logarithm of earnings per share): a single extreme year cannot distort the rate. The reported figure stays in the tooltip. Measured in INR: this currency has depreciated against the euro and dollar over the long run, so part of the nominal rate is currency erosion that never reaches a EUR/USD investor.
+41.5%
Earnings growth per share plus dividend.
Earnings per share, growth per year+40.7%
Dividend (yield on the price)0.8%
Pace: 5 vs 10 years ⓘTwo data points, not a trend model: earnings growth per share over the last 5 fiscal years against the last 10. Labelled "steady" when both rates are within 3 percentage points of each other, otherwise picking up or flattening. Shown only when ten years of history exist.35.5% vs 30.6%, picking up
Profit margin 2021 to 2026 ⓘOperating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.5% → 11%
2026 sits 109% above its own trend. The rate follows the median trend of the last 5 years, not that single year.
Compare Garden Reach Shipbuilders & Engineers Limited with another stock
Price, fair value, quality and upside side by side.
Free, no sign-up
Peer GroupⓘHow this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.Aerospace & Defense · 228 stocks
Beats the industry median on 6/12 measures
A mixed picture versus its industry peers.
Valuation
Quality Score61 · Above median
Fair Value upside−52.9% · Below median
Profitability
Return on equity (TTM)31.8% · Top 25%
Return on assets4.5% · Above median
Net margin (TTM)10.7% · Above median
Operating margin (TTM)7.5% · Below median
Growth and dividend
Revenue growth38.5% · Top 25%
Dividend yield (TTM)0.8% · Below median
Valuation Multiplesvs Aerospace & Defense median · lower = cheaper
P/E (TTM)32.3× · Cheaper than median
P/B9.52× · Priciest 25%
P/S (TTM)3.33× · Pricier than median
EV/EBITDA25.9× · Pricier than median
Strength profile in five axes (Snowflake)
This stockSector peers
VALUE (fair-value potential)0· sector 0
FUTURE (revenue growth)100· sector 59
PAST (return on equity)100· sector 38
HEALTH (low debt)0· sector 93
DIVIDEND (yield)16· sector 17
VALUE 0: the price sits above our fair-value range.
For bloggers, editors and developers: paste this into your site or blog (a “Custom HTML” block in WordPress), it shows the current fair value and links back here. Free, plain HTML, and welcome. Full data streams (CSV/JSON) at /developers.
Is Garden Reach Shipbuilders & Engineers Limited (GRSE) overvalued or undervalued?
As of Sep 29, 2026, our model estimates a fair value of ₹1,027 versus a price of ₹2,182, about −53% upside (overvalued).
What is the fair value of GRSE?
Our model-based fair value for Garden Reach Shipbuilders & Engineers Limited is ₹1,027 (as of Sep 29, 2026), built from audited fundamentals. The current price: ₹2,182.
What is the quality score of GRSE?
Garden Reach Shipbuilders & Engineers Limited has a Quality Score of 61/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the price target for Garden Reach Shipbuilders & Engineers Limited (GRSE)?
Our model-based price target is the fair value of ₹1,027 (as of Sep 29, 2026) from 17 valuation models. Cautious scenario ₹653.17, optimistic scenario ₹1,421. It is a calculation from audited fundamentals, not an analyst target.
What is the Garden Reach Shipbuilders & Engineers Limited stock forecast for 2026?
Our models put fair value at ₹1,027, about −53% upside versus a price of ₹2,182 (overvalued). Cautious scenario ₹653.17, optimistic scenario ₹1,421. The calculation is refreshed regularly with new filings.
What is the revenue of Garden Reach Shipbuilders & Engineers Limited (GRSE)?
Garden Reach Shipbuilders & Engineers Limited reported trailing-twelve-month revenue of about ₹75.1B (latest available figure, as of Sep 29, 2026).
Does Garden Reach Shipbuilders & Engineers Limited pay a dividend?
Garden Reach Shipbuilders & Engineers Limited currently shows a dividend yield of about 0.82% relative to its recent price (as of Sep 29, 2026).
What is the intrinsic value of Garden Reach Shipbuilders & Engineers Limited (GRSE)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Garden Reach Shipbuilders & Engineers Limited it is ₹1,027 per share (as of Sep 29, 2026), against a price of ₹2,182. It is the blended result of 17 valuation models (cash flow, earnings, asset, dividend).
Is Garden Reach Shipbuilders & Engineers Limited stock overvalued or undervalued in 2026?
As of Sep 29, 2026, GRSE trades above its calculated fair value: price ₹2,182, fair value ₹1,027, a gap of about −53% (overvalued). The calculation is refreshed with each new quarterly report, so the verdict can change during the year.
Is fair value the same as the market price of GRSE?
No. The price is what the market pays today (₹2,182); the fair value is what the company's own numbers justify (₹1,027). For Garden Reach Shipbuilders & Engineers Limited the two are ₹1,155 per share apart. That gap is exactly why we show both numbers side by side.
How much is Garden Reach Shipbuilders & Engineers Limited worth?
The market values Garden Reach Shipbuilders & Engineers Limited at about ₹250B (market capitalisation, as of Sep 29, 2026). Per share that is ₹2,182; our models calculate a fair value of ₹1,027 per share.
What do the bullish and bearish scenarios say about GRSE?
Our models span a range for Garden Reach Shipbuilders & Engineers Limited: cautious scenario ₹653.17, base ₹1,027, optimistic ₹1,421 per share (as of Sep 29, 2026, price ₹2,182). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of GRSE?
Garden Reach Shipbuilders & Engineers Limited trades at a price-to-earnings ratio of 32.3 (as of Sep 29, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of ₹1,027 is built from several models across several years. Other multiples: P/B 9.5, P/S 3.3, EV/EBITDA 25.9.
How solid is the balance sheet of Garden Reach Shipbuilders & Engineers Limited (GRSE)?
Balance-sheet figures for Garden Reach Shipbuilders & Engineers Limited (as of Sep 29, 2026): return on equity 31.8%. They feed the Quality Score of 61/100, which measures business quality independently of the share price.
How far is GRSE from its 52-week high?
Garden Reach Shipbuilders & Engineers Limited trades at ₹2,182, about 29% below its 52-week high of ₹3,085 and 11% above the low of ₹1,967 (as of Sep 30, 2026). Distance from the high says nothing about value: that is what the fair value of ₹1,027 is for.
Which stocks are comparable to Garden Reach Shipbuilders & Engineers Limited?
From the same area (Industrials) we also value General Electric Company, RTX Corporation, Airbus SE, Lockheed Martin Corporation, among others. Each of them has its own fair-value calculation on this site using the same models, so the comparison is like for like.
Is Garden Reach Shipbuilders & Engineers Limited stock attractive at the current price?
The data as of Sep 29, 2026: price ₹2,182, calculated fair value ₹1,027 (−53%), Quality Score 61/100, from 17 models. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
How is the fair value of GRSE calculated?
We run Garden Reach Shipbuilders & Engineers Limited through 17 models from four families: discounted cash flow, earnings models, asset and balance-sheet models, and dividend models. Every model gets the same audited fundamentals; the result is the weighted average of ₹1,027, with the spread shown as a cautious and an optimistic scenario.
Is it still worth investing in stocks now?
The global stock market currently sits 14.7 % above its aggregate fair value. Garden Reach Shipbuilders & Engineers Limited itself currently trades above fair value. An expensive market is no reason to stay out and no reason to buy everything at once: keep a broad savings plan running, buy single stocks only with money you can do without, and hold part of your money liquid while the market is high. The full picture including sectors is on is it worth investing now.
What is the share price of Garden Reach Shipbuilders & Engineers Limited (GRSE)?
The closing price on Sep 30, 2026 was ₹2,182. Our model-based fair value is ₹1,027, about −53% upside (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Garden Reach Shipbuilders & Engineers Limited right now?
The price sits above even our optimistic bull case (₹1,421). The favourable scenario is already priced in. Solid but not exceptional quality (61/100) and above fair value, neither a clear bargain nor a standout compounder. A fairly wide model range (₹653.17 to ₹1,421) leaves room in how you read the outcome.
Where does the earnings growth of Garden Reach Shipbuilders & Engineers Limited (GRSE) come from?
Earnings per share at Garden Reach Shipbuilders & Engineers Limited grew +18.5 % a year from 2015 to 2026. Broken into its drivers: revenue per share +13.2 %, EBIT margin +9.6 %, tax rate +1.7 %, residual (interest, one-offs) −6.1 %. The four rates multiply to the earnings growth rate, they do not add up. Start and end are three-year averages so a single exceptional year does not distort the result.
Key figures of Garden Reach Shipbuilders & Engineers Limited
How large is the market capitalisation of Garden Reach Shipbuilders & Engineers Limited (GRSE)?
The market capitalisation of Garden Reach Shipbuilders & Engineers Limited is ₹250B (≈ $2.6B). The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What is the P/S ratio of Garden Reach Shipbuilders & Engineers Limited (GRSE)?
The price-to-sales ratio of Garden Reach Shipbuilders & Engineers Limited is 3.45 (P/E × margin). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of Garden Reach Shipbuilders & Engineers Limited (GRSE)?
Earnings per share at Garden Reach Shipbuilders & Engineers Limited are ₹67.58 (price ÷ EPS = P/E 32.3). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Garden Reach Shipbuilders & Engineers Limited (GRSE)?
The dividend yield of Garden Reach Shipbuilders & Engineers Limited is 0.8% (payout 26.3%). Yearly dividend relative to the share price. 3% pays 3 per 100 invested. Below: how much of profit is used for it.
What is the net margin of Garden Reach Shipbuilders & Engineers Limited (GRSE)?
The net margin of Garden Reach Shipbuilders & Engineers Limited is 10.7% (fiscal year 2026). How much of every unit of revenue ends up as profit. 10% means 10 cents of profit per dollar of sales.
What is the return on equity of Garden Reach Shipbuilders & Engineers Limited (GRSE)?
The return on equity (ROE) of Garden Reach Shipbuilders & Engineers Limited is 31.8% (last twelve months). Profit relative to shareholders' equity, how efficiently the company works with its owners' money.
What is the EBIT return on assets of Garden Reach Shipbuilders & Engineers Limited (GRSE)?
On an EBIT basis the return on assets of Garden Reach Shipbuilders & Engineers Limited is 3.2% (avg 5y). Operating profit (EBIT) relative to everything the company owns, as a multi-year average. It describes the business model rather than one good or bad year.
What is the operating margin of Garden Reach Shipbuilders & Engineers Limited (GRSE)?
The operating margin of Garden Reach Shipbuilders & Engineers Limited is 7.5% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Garden Reach Shipbuilders & Engineers Limited (GRSE)?
Revenue at Garden Reach Shipbuilders & Engineers Limited is growing +38.5% versus a year earlier (3y avg +40.1%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How fast are earnings growing at Garden Reach Shipbuilders & Engineers Limited (GRSE)?
Earnings per share at Garden Reach Shipbuilders & Engineers Limited are growing +43.9% versus a year earlier. How much earnings per share grew versus a year earlier.
How much free cash flow does Garden Reach Shipbuilders & Engineers Limited (GRSE) generate?
The free cash flow of Garden Reach Shipbuilders & Engineers Limited is −₹1.3B (fiscal year 2026). The cash truly left after running and investing in the business, this is what pays dividends and buybacks.
How much net cash does Garden Reach Shipbuilders & Engineers Limited (GRSE) hold?
Garden Reach Shipbuilders & Engineers Limited holds more cash than debt, ₹33.5B net (fiscal year 2026). The company holds more cash than debt, a safety cushion.
Free · no account needed
Watch Garden Reach Shipbuilders & Engineers Limited in the live analysis
One click puts Garden Reach Shipbuilders & Engineers Limited on your watchlist: fair value and trend at a glance, plus comparison, the diversification check and the 35,000+ stock screener. You can also try 14 days of Pro there, no card.
