Garuda Construction and Engineering Ltd (GARUDA)
🎯 Key Takeaways
- Garuda Construction and Engineering Ltd is in a strong growth phase, supported by improving financial performance and strategic leadership appointments. The company demonstrates high profitability metrics with expanding margins and robust returns, while maintaining a near-zero debt profile.
- Revenue grew 17.7% QoQ to ₹175 in Q1FY27.
- ⚠️ The company's near-zero debt profile reduces financial risk, but the high ROE and ROCE may be difficult to sustain without continued project execution
- Market Cap
- ₹1,663
- P/E Ratio
- 12.2
- P/B Ratio
- 3.66
- ROE
- 29.9%
- ROCE
- 39.7%
- Debt/Equity
- 0.03
- Promoter
- 67.6%
📖 The Story
Garuda Construction and Engineering Ltd is in a strong growth phase, supported by improving financial performance and strategic leadership appointments. The company demonstrates high profitability metrics with expanding margins and robust returns, while maintaining a near-zero debt profile. Management is actively reinforcing governance and stakeholder confidence through board-level initiatives and transparent capital allocation.
📰 What's Happening
In Q1 June 2026, the company reported standalone and consolidated revenue of ₹17,562.90 lakhs and profit of ₹4,155.53 lakhs, marking significant year-on-year growth. The board approved these results during a meeting on August 10, 2026, highlighting operational momentum. Additionally, on May 5, 2026, shareholders were convened via postal ballot to approve the appointment of Krishnakumar Laxman Bangera as a Non-Executive Independent Director and the regularization of Mrs. Dhruti Harsh Satia, reinforcing governance continuity. Promoter holdings remain stable at 67.56% as of March 31, 2026, with no encumbrance on shares, and institutional interest is gradually increasing.
Source: Stock Announcements
📊 Quarterly Results (₹ Cr)
| Metric | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|
| Revenue | 116 | 140 | 149 | 175 |
| Operating Profit | 34 | 45 | 48 | 56 |
| OPM % | 29.5% | 32.1% | 32.1% | 31.9% |
| Net Profit | 27 | 33 | 34 | 42 |
| EPS | ₹2.92 | ₹3.54 | ₹3.70 | ₹4.47 |
The company has delivered consistent quarterly growth in revenue and profitability, with OPM stabilizing around 31-32% and EPS rising from ₹2.92 in September 2025 to ₹4.47 in June 2026. This upward trend aligns with operational scaling and improved execution, suggesting effective project ramp-up and cost management. Despite a net cash outflow from operations of ₹111 lakhs in March 2025, investing and financing activities have supported cash generation, contributing to a net cash increase of ₹2 lakhs.
🔮 Management Outlook & What's Next
Management has not provided explicit forward guidance in the reviewed filings, but the approval of quarterly results and board-level appointments signals confidence in sustained performance. The company continues to focus on governance compliance and stakeholder engagement, as evidenced by SEBI-regulated disclosures and e-voting initiatives. No official revenue or margin targets were disclosed in the available regulatory submissions.
Extracted from official company announcements. Not StockFin.ai's opinion.
🏦 Balance Sheet (₹ Cr)
| Item | Mar 2025 | Mar 2025 | Mar 2026 | Mar 2026 |
|---|---|---|---|---|
| Equity Capital | 47 | 37 | 47 | 47 |
| Reserves | 285 | 101 | 408 | 340 |
| Borrowings | 0 | 42 | 12 | 0 |
| Total Liabilities | 407 | 257 | 644 | 574 |
| Fixed Assets | 2 | 2 | 125 | 2 |
| Investments | 9 | 0 | 0 | 51 |
| Total Assets | 407 | 257 | 644 | 574 |
The balance sheet reflects a strong equity base of ₹47 lakhs with growing reserves, which increased from ₹285 lakhs in March 2025 to ₹408 lakhs by March 2026. Borrowings remain minimal at ₹12 lakhs, and total assets have expanded from ₹407 lakhs to ₹644 lakhs over the past two years, indicating capital investment and asset base growth without significant leverage.
💰 Cash Flow Statement (₹ Cr)
| Item | Mar 2025 |
|---|---|
| Operating | -111 |
| Investing | -50 |
| Financing | +162 |
| Net Cash Flow | +2 |
👥 Shareholding Pattern
| Category | Q2FY26 | Q3FY26 | Q4FY26 | Q1FY27 |
|---|---|---|---|---|
| Promoters | 67.6% | 67.6% | 67.6% | 67.6% |
| FII | 3.1% | 2.3% | 2.6% | 2.6% |
| DII | 1.1% | 1.0% | 0.5% | 0.2% |
| Public | 20.0% | 20.5% | 21.0% | 21.1% |
| # Shareholders | 48,818 | 49,387 | 49,607 | 49,675 |
Institutional interest is rising, with FII holdings increasing from 2.34% in Q3FY26 to 2.64% in Q4FY26, while DII holdings also showed modest growth. Promoter holding remains stable at 67.56%, with no signs of dilution or encumbrance. The growing number of public shareholders (49,675 as of Q1FY27) reflects broadening market participation and improving liquidity.
⚖️ Peer Comparison — Infrastructure Developers & Operators
🔗 Peer Stock Analyses
⚠️ Risk Factors
The company's near-zero debt profile reduces financial risk, but the high ROE and ROCE may be difficult to sustain without continued project execution momentum. Margins, while strong, are vulnerable to input cost inflation or project delays in infrastructure development. Additionally, the lack of disclosed forward guidance introduces uncertainty around future growth trajectories, and the company's small market cap may lead to heightened volatility amid market sentiment shifts.
📋 Recent Filings
- Announcement2026-09-23Garuda Construction and Engineering Ltd announced that its insider trading window will close on October 1, 2026, remaining shut until 48 hours after t…
- 🔴 Announcement2026-09-07Garuda Construction and Engineering announced its subsidiary Dream City Builders signed a Memorandum of Understanding with Almasarat Company Limited t…
- 🔴 annual report2026-09-05Garuda Construction and Engineering Ltd reported FY 2025-26 revenue of **₹53,395.69 lakhs** and profit after tax of **₹12,249.33 lakhs**, up from ₹33,…
- 🟡 Board Meeting2026-09-05Garuda Construction and Engineering Limited announced its 16th Annual General Meeting will be held on Wednesday, 30 September 2026 at 11:00 AM IST via…
- 🔴 annual report2026-09-04Garuda Construction and Engineering announced the appointment of Ms. Ketan Vyas & Company as its new secretarial auditor for five years starting FY202…
- 🟡 Board Meeting2026-09-04The board approved appointing Ketan Vyas & Company as secretarial auditors for five years starting FY2026-27, pending shareholder approval at the upco…
- 🟡 Board Meeting2026-08-10The board approved unaudited standalone and consolidated financial results for Q1 June 2026, showing revenue of **₹17,562.90 lakhs** and profit of **₹…
- regulation 312026-08-03Garuda Construction and Engineering disclosed on August 3, 2026 that promoter PKH Ventures Limited created a pledge on 65 lakh shares (13.51% of its h…
- Announcement2026-07-13Garuda Construction and Engineering Limited confirmed that no dematerialization or rematerialization requests were received for its equity shares duri…
- Financial Results2026-06-26Garuda Construction and Engineering Limited announced that its trading window for securities transactions will close on July 1, 2026, and remain close…
🧠 Analyst's Read
Garuda Construction and Engineering is executing a disciplined growth strategy with improving financials and strengthening governance, but the absence of formal guidance and exposure to infrastructure sector cyclicality warrant close monitoring. Investors should watch for new project pipelines, order book visibility, and any updates on capital allocation strategy in upcoming filings.
Based on filing content and financial data. Not a recommendation.
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Data sourced from stock announcements. Analysis generated by StockFin.ai.
For informational purposes only — not investment advice. Updated 2026-09-30.
Editorial & Data Transparency Notice
This analysis was programmatically compiled using StockFin AI utilizing official regulatory disclosures from the BSE and NSE. Content is automatically synthesized and audited against public financial filings. StockFin.ai is an educational research platform and is NOT a SEBI-registered investment advisor or research analyst.
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