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Last Updated on: 19 June, 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

Basic Stock Data of Garden Reach Shipbuilders & Engineers Ltd

Last Updated: June 19, 2024, 2:43 pm

Market Cap 20,600 Cr.
Current Price 1,798
High / Low1,925/553
Stock P/E57.6
Book Value 146
Dividend Yield0.42 %
ROCE28.4 %
ROE23.1 %
Face Value 10.0
PEG Ratio5.19

Garden Reach Shipbuilders & Engineers Ltd Quarterly Results

MonthDec 2020Mar 2021Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023
Sales360399304422487543580682699601756898923
Expenses318361302367435511546634652581710849874
Operating Profit4238255523333484720464949
OPM %12%9%1%13%11%6%6%7%7%3%6%5%5%
Other Income39493236444141415070717282
Interest0000-011114521
Depreciation887910109101010101010
Profit before tax73792682866364798676102107119
Tax %21%26%22%28%27%25%22%25%26%28%25%25%26%
Net Profit58582159634750596455778188
EPS in Rs5.035.061.805.135.504.124.385.135.584.836.697.057.70

Last Updated: June 7, 2024, 8:49 am

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:8%
5 Years:21%
3 Years:47%
TTM:40%
Compounded Profit Growth
10 Years:12%
5 Years:26%
3 Years:31%
TTM:63%
Stock Price CAGR
10 Years:%
5 Years:63%
3 Years:95%
1 Year:196%
Return on Equity
10 Years:13%
5 Years:17%
3 Years:19%
Last Year:23%

Last Updated: May 31, 2024, 6:22 am

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

MonthJun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024
Promoters74.50%74.50%74.50%74.50%74.50%74.50%74.50%74.50%74.50%74.50%74.50%74.50%
FIIs1.08%1.10%1.50%1.55%1.76%1.95%2.52%2.68%3.11%3.34%2.86%3.26%
DIIs13.11%12.74%11.27%10.68%9.16%8.36%7.55%7.91%7.46%5.96%6.03%6.14%
Public11.31%11.66%12.73%13.27%14.58%15.20%15.43%14.91%14.93%16.20%16.61%16.10%
No. of Shareholders34,32234,61835,58635,80637,51841,46060,04860,63868,8591,08,9221,17,6211,25,631

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)Previous Number of SharesPrevious DatePercentage Change
HDFC Balanced Advantage Fund - Regular Plan5,614,4960.65417.1329,5362024-06-1718908.99%
SBI PSU Fund370,0003.3427.4929,5362024-06-171152.71%
Motilal Oswal Nifty Microcap 250 Index Fund29,5360.482.1929,5362024-06-170%
Groww Nifty Total Market Index Fund680.020.0129,5362024-06-17-99.77%

Garden Reach Shipbuilders & Engineers Ltd ROCE Trend

Garden Reach Shipbuilders & Engineers Ltd EPS Trend

Garden Reach Shipbuilders & Engineers Ltd Key Financial Ratios

MonthMar 24Mar 23Mar 22Mar 21Mar 20
FaceValue10.0010.0010.0010.0010.00
Basic EPS (Rs.)31.1919.9116.5513.4014.27
Diluted EPS (Rs.)31.1919.9116.5513.4014.27
Cash EPS (Rs.)34.8023.3319.6615.9416.90
Book Value[Excl.RevalReserv]/Share (Rs.)146.09123.42109.8199.2790.81
Book Value[Incl.RevalReserv]/Share (Rs.)146.09123.42109.8199.2790.81
Dividend / Share (Rs.)9.366.205.805.007.14
Revenue From Operations / Share (Rs.)313.63223.58153.4299.59125.12
PBDIT / Share (Rs.)46.5930.6326.3122.6723.21
PBIT / Share (Rs.)42.9827.2123.1920.1320.59
PBT / Share (Rs.)41.9826.6422.4618.0819.54
Net Profit / Share (Rs.)31.1919.9116.5513.4014.27
PBDIT Margin (%)14.8513.6917.1422.7618.55
PBIT Margin (%)13.7012.1715.1120.2116.45
PBT Margin (%)13.3811.9114.6318.1515.61
Net Profit Margin (%)9.948.9010.7813.4511.40
Return on Networth / Equity (%)21.3416.1315.0613.4915.71
Return on Capital Employeed (%)27.4220.3019.3118.6720.73
Return On Assets (%)3.482.112.482.263.03
Total Debt / Equity (X)0.030.210.000.000.00
Asset Turnover Ratio (%)0.340.270.240.180.29
Current Ratio (X)1.121.070.930.981.13
Quick Ratio (X)0.640.750.740.841.03
Inventory Turnover Ratio (X)0.590.730.950.721.75
Dividend Payout Ratio (NP) (%)0.0031.8836.8639.1875.95
Dividend Payout Ratio (CP) (%)0.0027.2131.0232.9464.14
Earning Retention Ratio (%)0.0068.1263.1460.8224.05
Cash Earning Retention Ratio (%)0.0072.7968.9867.0635.86
Interest Coverage Ratio (X)46.4654.14394.4596.13199.09
Interest Coverage Ratio (Post Tax) (X)32.1036.20259.1065.50131.34
Enterprise Value (Cr.)5099.621190.6436.61-160.28-1042.52
EV / Net Operating Revenue (X)1.420.460.02-0.14-0.72
EV / EBITDA (X)9.553.390.12-0.61-3.92
MarketCap / Net Operating Revenue (X)2.442.041.481.861.09
Retention Ratios (%)0.0068.1163.1360.8124.04
Price / BV (X)5.243.692.061.861.51
Price / Net Operating Revenue (X)2.442.041.481.861.09
EarningsYield0.040.040.070.070.10

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

Fair Value: 1,950.78

Calculation basis:

  • Fair value = P/E Ratio * (Return on Equity / 100) * Book Value * (1 + Dividend Yield / 100)
  • P/E Ratio (Price-to-Earnings Ratio): Represents the price of the stock relative to its earnings per share. A higher P/E ratio indicates that investors are willing to pay a higher price for the stock.
  • Return on Equity (ROE): Measures a company's profitability relative to its shareholder equity. It showcases the company's ability to generate profits using the investment made by its shareholders, offering valuable insight into its operational efficiency and financial performance
  • Book Value: Represents the net asset value of the company per share. It is calculated as the total assets minus intangible assets and liabilities, divided by the number of outstanding shares.
  • Dividend Yield: The ratio of the annual dividend per share to the current market price per share. It offers valuable insights into the profitability of an investment through dividends.

This formula allows us to gauge the fair value of the stock by analyzing its fundamental indicators.

Undervalued: 8.50% compared to the current price 1798

Intrinsic Value: 2,167.24

Calculation basis:

  • Fair value = P/E Ratio * (Return on Equity / 100) * Book Value * (1 + Dividend Yield / 100) * (1 + EPS CAGR for Last 5 Years)
  • P/E Ratio (Price-to-Earnings Ratio): Represents the price of the stock relative to its earnings per share. A higher P/E ratio indicates that investors are willing to pay a higher price for the stock.
  • Return on Equity (ROE): Measures a company's profitability relative to its shareholder equity. It showcases the company's ability to generate profits using the investment made by its shareholders, offering valuable insight into its operational efficiency and financial performance.
  • Book Value: Represents the net asset value of the company per share. It is calculated as the total assets minus intangible assets and liabilities, divided by the number of outstanding shares.
  • Dividend Yield: The ratio of the annual dividend per share to the current market price per share. It offers valuable insights into the profitability of an investment through dividends.
  • EPS CAGR (Compound Annual Growth Rate): Represents the geometric mean growth rate of earnings per share over the last 5 years. It provides insight into the historical growth trajectory of the company's earnings.

This formula allows us to gauge the fair value of the stock by analyzing its fundamental indicators along with EPS growth.

Undervalued: 20.54% compared to the current price ₹1798

Last 5 Year EPS CAGR: 11.10%

*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 has a high average Cash Conversion Cycle of 74.58, which may not be favorable.

FAQ

What is the latest fair value of Garden Reach Shipbuilders & Engineers Ltd?

The latest fair value of Garden Reach Shipbuilders & Engineers Ltd is ₹1950.78.

What is the Market Cap of Garden Reach Shipbuilders & Engineers Ltd?

The Market Cap of Garden Reach Shipbuilders & Engineers Ltd is 20,600 Cr..

What is the current Stock Price of Garden Reach Shipbuilders & Engineers Ltd as on 19 June 2024?

The current stock price of Garden Reach Shipbuilders & Engineers Ltd as on 19 June 2024 is ₹1,798.

What is the High / Low of Garden Reach Shipbuilders & Engineers Ltd stocks in FY 2024?

In FY 2024, the High / Low of Garden Reach Shipbuilders & Engineers Ltd stocks is 1,925/553.

What is the Stock P/E of Garden Reach Shipbuilders & Engineers Ltd?

The Stock P/E of Garden Reach Shipbuilders & Engineers Ltd is 57.6.

What is the Book Value of Garden Reach Shipbuilders & Engineers Ltd?

The Book Value of Garden Reach Shipbuilders & Engineers Ltd is 146.

What is the Dividend Yield of Garden Reach Shipbuilders & Engineers Ltd?

The Dividend Yield of Garden Reach Shipbuilders & Engineers Ltd is 0.42 %.

What is the ROCE of Garden Reach Shipbuilders & Engineers Ltd?

The ROCE of Garden Reach Shipbuilders & Engineers Ltd is 28.4 %.

What is the ROE of Garden Reach Shipbuilders & Engineers Ltd?

The ROE of Garden Reach Shipbuilders & Engineers Ltd is 23.1 %.

What is the Face Value of Garden Reach Shipbuilders & Engineers Ltd?

The Face Value of Garden Reach Shipbuilders & Engineers Ltd is 10.0.

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