HAL vs GRSE: share price, P/E, ROE and financials compared
Hindustan Aeronautics
Garden Reach Shipbuilders & Engineers
HAL and GRSE at a glance
HAL and GRSE are both listed in Capital Goods. HAL is the larger by market cap, at ₹3.3L Cr against ₹24,465 Cr for GRSE (13.6 times as large). On valuation, HAL has the lower price-to-book (8.12× against 9.32×), while GRSE has the lower P/E (30.6× against 35.7×). On returns and margins, HAL has the higher operating margin (25.3% against 11.0%), while GRSE has the higher ROCE (36.8% against 13.8%) and the higher ROE (31.8% against 24.0%). Over three years, GRSE has faster 3-year sales growth (+40.0% against +6.4% a year) and faster 3-year profit growth (+48.5% against +16.1% a year). Neither carries much debt for its equity: debt-to-equity is 0.00× for HAL and 0.01× for GRSE.
Key metrics, side by side
| Metric | HALHAL | GRSEGRSE |
|---|---|---|
| Price (₹) | 4,980.00 | 2,135.70 |
| Market cap (₹ Cr) | 3,33,050 | 24,465 |
| P/E | 35.7× | 30.6× (the lower figure, shaded) |
| P/B | 8.12× (the lower figure, shaded) | 9.32× |
| Dividend yield, trailing | 0.90% | 0.92% |
| ROE | 24.0% | 31.8% (the higher figure, shaded) |
| ROCE | 13.8% | 36.8% (the higher figure, shaded) |
| Operating margin (OPM) | 25.3% (the higher figure, shaded) | 11.0% |
| Net margin (NPM) | 27.6% (the higher figure, shaded) | 10.7% |
| Sales CAGR 3Y | +6.4% | +40.0% (the higher figure, shaded) |
| Profit CAGR 3Y | +16.1% | +48.5% (the higher figure, shaded) |
| Debt to equity | 0.00× | 0.01× |
| Interest cover | 2099.8× (the higher figure, shaded) | 63.3× |
| Net profit TTM (₹ Cr) | 9,322 | – |
| 1Y return | +7.6% (the higher figure, shaded) | −16.4% |
| Promoter holding | 71.64% | 74.50% |
HAL vs GRSE: common questions
Which is bigger, HAL or GRSE?
By market cap, HAL is bigger at ₹3.3L Cr, against ₹24,465 Cr for GRSE (prices as of 6 Nov 2026).
Which has a lower P/E ratio, HAL or GRSE?
HAL trades at a P/E of 35.7× and GRSE at 30.6×. GRSE has the lower P/E. P/E is the share price divided by earnings per share; it varies a lot between industries and with growth, so it says little on its own.
Which has a higher ROE, HAL or GRSE?
HAL reports a return on equity of 24.0% and GRSE 31.8%. GRSE has the higher ROE. ROE is net profit as a share of shareholders’ equity.
Which is growing faster, HAL or GRSE?
Over the last three years: Sales grew +6.4% a year at HAL and +40.0% at GRSE, so GRSE grew sales faster; profit grew +16.1% a year at HAL and +48.5% at GRSE, so GRSE grew profit faster. Past growth doesn’t predict future growth.