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Last Updated on: 28 February, 2024|Author: Getaka | Social: X Twitter Profile

Fundamental Analysis of Garden Reach Shipbuilders & Engineers Ltd

About the Company - Garden Reach Shipbuilders & Engineers Ltd

Garden Reach Shipbuilders & Engineers Ltd. is a Public Limited Listed company incorporated on 26/02/1934 and has its registered office in the State of West Bengal, India. Company’s Corporate Identification Number(CIN) is L35111WB1934GOI007891 and registration number is 007891. Currently Company is involved in the business activities of Architectural and engineering activities and related technical consultancy. Company’s Total Operating Revenue is Rs. 1757.51 Cr. and Equity Capital is Rs. 114.55 Cr. for the Year ended 31/03/2022.
INDUSTRYADDRESSCONTACT
Aerospace & DefenseGRSE Bhavan, 61, Garden Reach Road, Kolkata West Bengal 700024co.sec@grse.co.in
http://www.grse.in
Management
NamePosition Held
Commodore P R HariChairman & Managing Director
Mr. Ramesh Kumar DashDirector - Finance & CFO
Mr. Shantanu BoseDirector - Shipbuilding
Mr. DIG Subrato GhoshDirector - Personnel
Mr. Sanjay Dattatraya PanseNon Official PartTime (Ind.) Director
Mr. Sanjeeb MohantyNon Official PartTime (Ind.) Director
Mr. Rajeev PrakashGovernment Nominee Director

Garden Reach Shipbuilders & Engineers Ltd. Share Price Update

Share PriceValue
Today₹821.15
Previous Day₹823.15

Basic Stock Data of Garden Reach Shipbuilders & Engineers Ltd

Market Cap 9,187 Cr.
Current Price 802
High / Low975/398
Stock P/E30.5
Book Value 136
Dividend Yield0.96 %
ROCE20.3 %
ROE16.4 %
Face Value 10.0

Data Source: screener.in

Garden Reach Shipbuilders & Engineers Ltd Quarterly Results

MonthSep 2020Dec 2020Mar 2021Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023
Sales272360399304422487543580682699601756898
Expenses239318361302367435511546634652581710849
Operating Profit3342382555233334847204649
OPM %12%12%9%1%13%11%6%6%7%7%3%6%5%
Other Income27394932364441414150707172
Interest00000-01111452
Depreciation68879101091010101010
Profit before tax5473792682866364798676102107
Tax %30%21%26%22%28%27%25%22%25%26%28%25%25%
Net Profit38585821596347505964557781
EPS in Rs3.295.035.061.805.135.504.124.385.135.584.836.697.05

Garden Reach Shipbuilders & Engineers Ltd Quarterly Chart

Garden Reach Shipbuilders & Engineers Ltd Profit & Loss

MonthMar 2012Mar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023TTM
Sales1,2911,5241,6111,5621,6579211,3471,3861,4331,1411,7542,5612,954
Expenses1,1471,3891,4881,5001,5651,0821,3621,3441,3911,0601,6132,4082,791
Operating Profit1441351236292-161-15424281141153162
OPM %11%9%8%4%6%-17%-1%3%3%7%8%6%5%
Other Income38758261191217179169215165154202262
Interest0116498531021012
Depreciation13142327282729273029363940
Profit before tax1691941819025220128179224207257305372
Tax %36%32%36%43%35%43%28%39%27%26%26%25%
Net Profit108132117521641192110163153190228277
EPS in Rs87.23106.4194.1341.77132.799.268.079.6014.2713.4016.5519.9124.15
Dividend Payout %23%20%21%48%15%472%55%72%50%37%35%31%

Garden Reach Shipbuilders & Engineers Ltd Profit & Loss Yearly Chart

Garden Reach Shipbuilders & Engineers Ltd Growth

Compounded Sales Growth
10 Years:5%
5 Years:14%
3 Years:21%
TTM:29%
Compounded Profit Growth
10 Years:5%
5 Years:20%
3 Years:10%
TTM:26%
Stock Price CAGR
10 Years:%
5 Years:60%
3 Years:63%
1 Year:82%
Return on Equity
10 Years:12%
5 Years:15%
3 Years:15%
Last Year:16%

Garden Reach Shipbuilders & Engineers Ltd Balance Sheet

MonthMar 2012Mar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Sep 2023
Equity Capital124124124124124124115115115115115115115
Reserves6397438318831,0139599079249261,0231,1431,2991,449
Borrowings1900002500041131211
Other Liabilities4,2695,0795,4772,9943,3173,4583,3023,1524,3555,6566,3749,0579,502
Total Liabilities5,0515,9476,4324,0014,4544,5674,3234,1915,3956,7977,64310,78311,076
Fixed Assets175278363366344358389302304340501508503
CWIP6077181122231634521511069
Investments0000000254826197234256
Other Assets4,8155,5926,0523,6244,0884,1853,9183,8524,9865,4806,93610,03610,308
Total Assets5,0515,9476,4324,0014,4544,5674,3234,1915,3956,7977,64310,78311,076

Garden Reach Shipbuilders & Engineers Ltd Reserves and Borrowings Chart

Garden Reach Shipbuilders & Engineers Ltd Cash Flow

MonthMar 2012Mar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023
Cash from Operating Activity -74-112628515-3561,450
Cash from Investing Activity 267198245-1,173429-1,666
Cash from Financing Activity -193-89-153-62-72220
Net Cash Flow0-3720-72004

Garden Reach Shipbuilders & Engineers Ltd Financial Efficiency Indicators

MonthMar 2012Mar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023
Debtor Days332211373479555813657317
Inventory Days1,6741,5681,9323342363837271681,590606458662
Days Payable238941362021902909681771,922592159266
Cash Conversion Cycle1,4701,4951,80617079172-18648-19671330404
Working Capital Days-74-18523-1,124-388-695-468-392-533-1,012-660-513
ROCE %24%20%10%24%3%12%18%22%21%20%20%

Garden Reach Shipbuilders & Engineers Ltd Financial Efficiency Indicators Chart

Garden Reach Shipbuilders & Engineers Ltd Share Holding Pattern

MonthMar 2021Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023
Promoters74.50%74.50%74.50%74.50%74.50%74.50%74.50%74.50%74.50%74.50%74.50%74.50%
FIIs0.97%1.08%1.10%1.50%1.55%1.76%1.95%2.52%2.68%3.11%3.34%2.86%
DIIs15.61%13.11%12.74%11.27%10.68%9.16%8.36%7.55%7.91%7.46%5.96%6.03%
Public8.92%11.31%11.66%12.73%13.27%14.58%15.20%15.43%14.91%14.93%16.20%16.61%
No. of Shareholders29,02634,32234,61835,58635,80637,51841,46060,04860,63868,8591,08,9221,17,621

Garden Reach Shipbuilders & Engineers Ltd Shareholding Pattern Chart

No. of Garden Reach Shipbuilders & Engineers Ltd Shareholders

Garden Reach Shipbuilders & Engineers Ltd Mutual Fund Holdings

Fund NameNo of SharesAUM (%)Amount Invested (Cr)
HDFC Balanced Advantage Fund - Regular Plan56144960.65417.13
SBI PSU Fund3700003.3427.49
Motilal Oswal Nifty Microcap 250 Index Fund295360.482.19
Groww Nifty Total Market Index Fund680.020.01

Garden Reach Shipbuilders & Engineers Ltd ROCE Trend

Garden Reach Shipbuilders & Engineers Ltd EPS Trend

Garden Reach Shipbuilders & Engineers Ltd Key Financial Ratios

MonthMar 23Mar 22Mar 21Mar 20Mar 19
FaceValue10.0010.0010.0010.0010.00
Basic EPS (Rs.)19.9116.5513.4014.279.60
Diluted EPS (Rs.)19.9116.5513.4014.279.60
Cash EPS (Rs.)23.3319.6615.9416.9011.96
Book Value[Excl.RevalReserv]/Share (Rs.)123.42109.8199.2790.8190.64
Book Value[Incl.RevalReserv]/Share (Rs.)123.42109.8199.2790.8190.64
Dividend / Share (Rs.)6.205.805.007.146.95
Revenue From Operations / Share (Rs.)223.58153.4299.59125.12121.03
PBDIT / Share (Rs.)30.6326.3122.6723.2118.63
PBIT / Share (Rs.)27.2123.1920.1320.5916.26
PBT / Share (Rs.)26.6422.4618.0819.5415.62
Net Profit / Share (Rs.)19.9116.5513.4014.279.60
PBDIT Margin (%)13.6917.1422.7618.5515.38
PBIT Margin (%)12.1715.1120.2116.4513.43
PBT Margin (%)11.9114.6318.1515.6112.90
Net Profit Margin (%)8.9010.7813.4511.407.92
Return on Networth / Equity (%)16.1315.0613.4915.7110.58
Return on Capital Employeed (%)20.3019.3118.6720.7316.60
Return On Assets (%)2.112.482.263.032.62
Total Debt / Equity (X)0.210.000.000.000.00
Asset Turnover Ratio (%)0.270.240.180.290.32
Current Ratio (X)1.070.930.981.131.16
Quick Ratio (X)0.750.740.841.031.05
Inventory Turnover Ratio (X)0.730.950.721.751.58
Dividend Payout Ratio (NP) (%)31.8836.8639.1875.9578.94
Dividend Payout Ratio (CP) (%)27.2131.0232.9464.1463.34
Earning Retention Ratio (%)68.1263.1460.8224.0521.06
Cash Earning Retention Ratio (%)72.7968.9867.0635.8636.66
Interest Coverage Ratio (X)54.14394.4596.13199.0941.73
Interest Coverage Ratio (Post Tax) (X)36.20259.1065.50131.3422.93
Enterprise Value (Cr.)1190.6436.61-160.28-1042.52-873.09
EV / Net Operating Revenue (X)0.460.02-0.14-0.72-0.62
EV / EBITDA (X)3.390.12-0.61-3.92-4.09
MarketCap / Net Operating Revenue (X)2.041.481.861.090.80
Retention Ratios (%)68.1163.1360.8124.0421.05
Price / BV (X)3.692.061.861.511.08
Price / Net Operating Revenue (X)2.041.481.861.090.80
EarningsYield0.040.070.070.100.09

Garden Reach Shipbuilders & Engineers Ltd Profitability Ratios (%)

Garden Reach Shipbuilders & Engineers Ltd Liquidity Ratios

Garden Reach Shipbuilders & Engineers Ltd Liquidity Ratios (%)

Garden Reach Shipbuilders & Engineers Ltd Interest Coverage Ratios (%)

Garden Reach Shipbuilders & Engineers Ltd Valuation Ratios

Fair Value of Garden Reach Shipbuilders & Engineers Ltd Stock

Fair Value: ₹686.80

The stock is overvalued by 14.36% compared to the current price ₹802

*Investments are subject to market risks

Strength and Weakness of Garden Reach Shipbuilders & Engineers Ltd Stock

StrengthWeakness
  1. The stock has a high average ROCE of 16.17%, which is a positive sign.
  2. The stock has a low average Working Capital Days of -323.92, which is a positive sign.
  3. The company has higher reserves (979.92 cr) compared to borrowings (29.38 cr), indicating strong financial stability.
  4. The company has shown consistent growth in sales (71.92 cr) and profit (198.31 cr) over the years.
  1. The stock is trading at a high valuation with an average P/B ratio of 24.29 and average Dividend Yield of 15.47%.
  2. The stock has a high average Cash Conversion Cycle of 74.58, which may not be favorable.

About the Author

Author Avatar
Getaka

Getaka, CFA, a financial analyst with 15 years of experience in the industry. Getaka holds an MBA degree and the Chartered Financial Analyst designation, demonstrating his profound understanding of financial analysis and investment management. Throughout his career, he has conducted numerous financial analyses and due diligence processes for companies in the industry, and has a strong track record of identifying key trends and opportunities. He leverages his expertise to deliver a thorough financial analysis of a company, encompassing its financial performance, key ratios, future prospects, and risks. Getaka is committed to providing accurate, reliable, and trustworthy information to help readers make informed decisions about their finances and investments.

Disclaimer: This article is for informational purposes only and should not be construed as financial advice. The author is not a SEBI registered financial advisor and does not have any vested interest in Garden Reach Shipbuilders & Engineers Ltd. Investors are advised to conduct their own due diligence and consult with a financial professional before making any investment decisions. The information provided in this article is based on publicly available data and the author's analysis, but it may not be comprehensive or up-to-date. The author and getaka.co.in are not responsible for any errors or omissions in the content. This article is not intended to promote any particular investment strategy or recommendation, and readers should consult with their own financial advisors before making any investment decisions. Data Source: NSE