Garden Reach Shipbuilders & Engineers Limited
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… Read more
Garden Reach Shipbuilders & Engineers Limited (GRSE) - Net Assets
Latest net assets as of September 2025: ₹22.96 Billion INR
Based on the latest financial reports, Garden Reach Shipbuilders & Engineers Limited (GRSE) has net assets worth ₹22.96 Billion INR as of September 2025.
Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets (₹109.84 Billion) and total liabilities (₹86.88 Billion). This figure indicates the residual interest in the assets after deducting liabilities, essentially showing what would remain for shareholders if all assets were liquidated and all debts paid off.
Key Net Assets Metrics
| Metric | Value |
|---|---|
| Current Net Assets | ₹22.96 Billion |
| % of Total Assets | 20.9% |
| Annual Growth Rate | 7.56% |
| 5-Year Change | 82.85% |
| 10-Year Change | 82.93% |
| Growth Volatility | 8.59 |
Garden Reach Shipbuilders & Engineers Limited - Net Assets Trend (2013–2025)
This chart illustrates how Garden Reach Shipbuilders & Engineers Limited's net assets have evolved over time, based on quarterly financial data. Explore and compare other companies by net assets.
Annual Net Assets for Garden Reach Shipbuilders & Engineers Limited (2013–2025)
The table below shows the annual net assets of Garden Reach Shipbuilders & Engineers Limited from 2013 to 2025.
| Year | Net Assets | Change |
|---|---|---|
| 2025-03-31 | ₹20.79 Billion | +24.25% |
| 2024-03-31 | ₹16.73 Billion | +18.36% |
| 2023-03-31 | ₹14.14 Billion | +12.40% |
| 2022-03-31 | ₹12.58 Billion | +10.62% |
| 2021-03-31 | ₹11.37 Billion | +9.31% |
| 2020-03-31 | ₹10.40 Billion | +0.19% |
| 2019-03-31 | ₹10.38 Billion | +1.64% |
| 2018-03-31 | ₹10.22 Billion | -5.69% |
| 2017-03-31 | ₹10.83 Billion | -4.71% |
| 2016-03-31 | ₹11.37 Billion | +12.90% |
| 2015-03-31 | ₹10.07 Billion | +5.44% |
| 2014-03-31 | ₹9.55 Billion | +10.10% |
| 2013-03-31 | ₹8.67 Billion | -- |
Equity Component Analysis
This analysis shows how different components contribute to Garden Reach Shipbuilders & Engineers Limited's total equity over time. Equity components include common stock, retained earnings, additional paid-in capital, and other elements.
Equity Composition Insights
- Retained earnings have grown by 210.0% over the analyzed period, indicating profitable operations and earnings retention.
Current Equity Component Breakdown (March 2025)
| Component | Amount | Percentage |
|---|---|---|
| Retained Earnings | ₹19.01 Billion | 91.45% |
| Common Stock | ₹1.15 Billion | 5.51% |
| Other Comprehensive Income | ₹632.40 Million | 3.04% |
| Total Equity | ₹20.79 Billion | 100.00% |
Garden Reach Shipbuilders & Engineers Limited Competitors by Market Cap
The table below lists competitors of Garden Reach Shipbuilders & Engineers Limited ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
PT Bumi Resources Tbk
PINK:PBMRF
|
$760.82 Million |
|
Collective Mining Ltd.
NYSE:CNL
|
$761.19 Million |
|
Jiangsu Guoxin Corp Ltd
SHE:002608
|
$761.27 Million |
|
K. Wah International Holdings Limited
F:KW2
|
$761.33 Million |
|
Bank of Xi'An Co Ltd
SHG:600928
|
$760.37 Million |
|
BIOGAIA AB B O.N.
F:BGLA
|
$760.05 Million |
|
GuangYuYuan Chinese Herbal Medicine Co Ltd
SHG:600771
|
$759.87 Million |
|
Elang Mahkota Teknologi Tbk
JK:EMTK
|
$759.76 Million |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in Garden Reach Shipbuilders & Engineers Limited's equity between the two most recent reporting periods.
Equity Growth Insights
- From 2024 to 2025, total equity changed from 16,734,389,000 to 20,792,624,000, a change of 4,058,235,000 (24.3%).
- Net income of 5,274,038,000 contributed positively to equity growth.
- Dividend payments of 1,190,195,000 reduced retained earnings.
- Other comprehensive income decreased equity by 25,608,000.
Equity Change Factors (2024 to 2025)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | ₹5.27 Billion | +25.36% |
| Dividends Paid | ₹1.19 Billion | -5.72% |
| Other Comprehensive Income | ₹-25.61 Million | -0.12% |
| Total Change | ₹- | 24.25% |
Book Value vs Market Value Analysis
This analysis compares Garden Reach Shipbuilders & Engineers Limited's book value (net assets) with its market value over time. The relationship between these values can provide insights into investor sentiment and company valuation.
Valuation Insights
- Current price-to-book ratio: 12.98x
- The company is trading at a significant premium to its book value, suggesting the market values its earnings potential, brand, or other intangibles highly.
- The price-to-book ratio has decreased from 31.13x to 12.98x over the analyzed period, indicating reduced market premium.
Historical Price-to-Book Ratios
| Date | Book Value per Share | Market Price | P/B Ratio |
|---|---|---|---|
| 2013-03-31 | ₹75.71 | ₹2356.80 | x |
| 2014-03-31 | ₹83.36 | ₹2356.80 | x |
| 2015-03-31 | ₹87.89 | ₹2356.80 | x |
| 2016-03-31 | ₹99.23 | ₹2356.80 | x |
| 2017-03-31 | ₹94.55 | ₹2356.80 | x |
| 2018-03-31 | ₹84.01 | ₹2356.80 | x |
| 2019-03-31 | ₹90.64 | ₹2356.80 | x |
| 2020-03-31 | ₹90.81 | ₹2356.80 | x |
| 2021-03-31 | ₹99.27 | ₹2356.80 | x |
| 2022-03-31 | ₹109.81 | ₹2356.80 | x |
| 2023-03-31 | ₹123.42 | ₹2356.80 | x |
| 2024-03-31 | ₹146.09 | ₹2356.80 | x |
| 2025-03-31 | ₹181.51 | ₹2356.80 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently Garden Reach Shipbuilders & Engineers Limited utilizes its equity to generate returns, including Return on Equity (ROE) and its components based on the DuPont analysis framework.
Capital Efficiency Insights
- Current Return on Equity (ROE): 25.36%
- The company demonstrates strong efficiency in generating profits from shareholder equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: 10.39%
- • Asset Turnover: 0.49x
- • Equity Multiplier: 4.98x
- Recent ROE (25.36%) is above the historical average (13.45%), indicating improving capital efficiency.
Historical Capital Efficiency Metrics
| Year | Return on Equity | Net Profit Margin | Asset Turnover | Equity Multiplier | Economic Value Added |
|---|---|---|---|---|---|
| 2013 | 15.19% | 8.65% | 0.26x | 6.86x | ₹450.47 Million |
| 2014 | 12.21% | 7.25% | 0.25x | 6.74x | ₹210.76 Million |
| 2015 | 5.14% | 3.32% | 0.39x | 3.97x | ₹-489.55 Million |
| 2016 | 14.47% | 9.93% | 0.37x | 3.92x | ₹507.80 Million |
| 2017 | 1.06% | 1.25% | 0.20x | 4.22x | ₹-968.49 Million |
| 2018 | 9.05% | 6.89% | 0.31x | 4.23x | ₹-97.50 Million |
| 2019 | 10.59% | 7.93% | 0.33x | 4.04x | ₹61.08 Million |
| 2020 | 15.72% | 11.47% | 0.26x | 5.18x | ₹594.59 Million |
| 2021 | 13.50% | 13.45% | 0.17x | 5.97x | ₹397.59 Million |
| 2022 | 15.07% | 10.80% | 0.23x | 6.07x | ₹637.38 Million |
| 2023 | 16.14% | 8.91% | 0.24x | 7.62x | ₹867.42 Million |
| 2024 | 21.35% | 9.94% | 0.35x | 6.13x | ₹1.90 Billion |
| 2025 | 25.36% | 10.39% | 0.49x | 4.98x | ₹3.19 Billion |
Industry Comparison
This section compares Garden Reach Shipbuilders & Engineers Limited's net assets metrics with peer companies in the Aerospace & Defense industry.
Industry Context
- Industry: Aerospace & Defense
- Average net assets among peers: $34,810,378,546
- Average return on equity (ROE) among peers: 20.87%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| Garden Reach Shipbuilders & Engineers Limited (GRSE) | ₹22.96 Billion | 15.19% | 3.78x | $760.61 Million |
| Apollo Micro Systems Limited (APOLLO) | $460.20 Million | 21.73% | 3.41x | $387.02 Million |
| Bharat Dynamics Limited (BDL) | $32.11 Billion | 10.97% | 1.70x | $1.38 Billion |
| Bharat Electronics Limited (BEL_old) | $13.01 Billion | 25.38% | 2.23x | $15.34 Billion |
| Cochin Shipyard Limited (COCHINSHIP) | $37.23 Billion | 16.98% | 0.72x | $1.32 Billion |
| Data Patterns (India) Limited (DATAPATTNS) | $1.53 Billion | 13.71% | 0.92x | $889.67 Million |
| DCX Systems Limited (DCXINDIA) | $171.70 Million | 56.75% | 39.70x | $98.42 Million |
| Hindustan Aeronautics Limited (HAL) | $193.17 Billion | 26.30% | 2.02x | $8.44 Billion |
| Mazagon Dock Shipbuilders Limited (MAZDOCK) | $34.32 Billion | 14.97% | 6.30x | $2.07 Billion |
| Megasoft Limited (MEGASOFT) | $1.28 Billion | 1.02% | 1.20x | $44.57 Million |