Company Overview
Garuda Construction and Engineering Limited reported exceptional FY26 financial performance with net profit surging 145% to ₹12,249.33 lakhs and revenue growing 135% to ₹53,071.52 lakhs, primarily driven by construction services which reached ₹52,111.52 lakhs.
AGM and Corporate Governance
The company will hold its 16th Annual General Meeting on September 30, 2026 through video conferencing to approve audited financial statements, re-appoint director Mr. Rohit Ramanand Pareek, appoint M/s Ketan Vyas & Company as Secretarial Auditors for 5 years, and seek approval for related party transactions with specified entities totaling up to ₹530 crore.
Capital Structure and IPO
Garuda completed its IPO in FY25, issuing 1.83 crore equity shares at ₹95 each, raising ₹17,385 lakhs which was fully utilized for working capital requirements (₹10,000 lakhs) and general corporate purposes (₹5,967.25 lakhs). The company's paid-up equity share capital stands at ₹46.52 crore with 100% shares in dematerialized form.
Financial Position and Performance
Standalone Performance: Revenue from operations reached ₹53,071.52 lakhs (136% increase), profit before tax ₹16,416.92 lakhs (146% increase), and profit for the year ₹12,254.11 lakhs (146% increase).
Consolidated Position: Total equity attributable to shareholders stood at ₹40,774.29 lakhs with retained earnings of ₹25,370.95 lakhs and securities premium of ₹15,409.14 lakhs. Cash and cash equivalents were ₹807.13 lakhs while trade receivables amounted to ₹14,875.14 lakhs.
Corporate Structure and Operations
The company operates through subsidiaries PKH Ayodhya Private Limited (51% holding) and PKH Projects LLP (51% holding), with associate UP World Trade Centre Private Limited (33% holding). Key ongoing projects include Gorakhpur Sports City Complex, Gorakhpur Convention Centre, Options World Santacruz, and Garuda Shatrunjay Borivali across residential, commercial, industrial, infrastructure, and hospitality sectors.
Compliance and Regulatory Matters
The company received clean audit opinions from both statutory and secretarial auditors. CSR expenditure of ₹114.39 lakhs slightly exceeded the required ₹114.23 lakhs. Minor fines were paid to stock exchanges for delayed submission of corporate governance reports. Significant tax and GST disputes totaling approximately ₹2,944.27 lakhs remain under various appeals processes.
Related Party Transactions
Key approved transactions include sales/purchase of goods and services with Shree Umiya Builder & Developers (up to ₹180 crore), UP World Trade Centre Private Limited (up to ₹250 crore), and working capital investment with Dream City Builders (up to ₹100 crore), all conducted at arm's length and in ordinary course of business.