Garuda Construction & Engineering Ltd.

•

garudaconstructionengineering.comBSE: 544271NSE: GARUDA

Market Cap₹ 1,622 Cr.

Current Price

High / Low₹ 249 / 130

Stock P/E11.9

Book Value₹ 53

Price to Book2.91

Dividend Yield0.00 %

ROCE30.1 %

ROE22.1 %

Face Value₹ 5

Add ratio to table

ABOUT

KEY POINTS

Revenue Breakup Mar 2024 • Construction Activity: 94.5% • Maintenance of Building: 5.5%

AI Sector View

AI GENERATED

Realty

Buy

Housing and construction indicators remain supportive for real estate. The housing index reached 105 (Mar/26), residential property prices rose 4.21% (Mar/26), construction output was 5.4% (Jul/26), and cement output accelerated to 13.1% YoY (2026-07). Bank lending rates are steady at 8.96% (Aug/26) rather than easing, but FPI flows turned positive with INR 1999 crore net inflow over 3 months to 2026-08-31 from INR -7216 crore previously.

Confidence

75%

View full sector analysis →

PROS

Company is almost debt free
Company has a healthy return on capital (ROCE) of 53.5%
Company has a good return on equity (ROE) track record: 3 Years ROE 41.3%
Latest quarter profit grew 48.4% YoY, showing strong momentum
Company comfortably covers its interest (66.9x coverage)
Attractively priced for its growth - PEG of 0.3

CONS

Operating cash flow has been negative in recent years
Poor cash conversion - profits are not backed by operating cash flow (CFO/PAT -0.83x)
Equity base is being diluted - shares outstanding up 273.5%
Working capital days have increased from 218 to 477 days
Operating margins have contracted to 29.5% from 35.3%

* The pros and cons are machine generated based on quantitative rules.

Peer comparison

RealtyRealtyConstruction - Real Estate

Part ofNIFTY 50 NIFTY 500 NIFTY LARGEMIDCAP 250 NIFTY 100 NIFTY 200

S.No.	Name
1.	DLF	670.00	37.30	165845.88	1.19	793.90	-89.59	1280.34	-52.87	6.81	49.68
2.	LODHA	1211.80	29.35	121085.87	0.35	1373.10	103.39	4996.70	43.10	16.89	38.51
3.	PHOENIXLTD	1930.00	53.93	69031.83	0.13	394.51	22.95	1074.94	12.80	13.70	59.77
4.	OBEROIRLTY	1877.50	25.96	68266.32	0.43	543.51	29.02	1300.89	31.73	17.69	56.75
5.	PRESTIGE	1579.00	59.72	68012.30	0.13	271.40	-12.87	2675.10	15.94	11.51	31.75
6.	GODREJPROP	1960.00	36.90	59040.39	0.51	349.38	-41.61	506.17	16.48	8.37	-57.98
7.	ANANTRAJ	587.90	36.57	21157.16	0.17	149.19	18.50	631.40	6.58	12.23	29.53
8.	BRIGADE	639.90	30.04	20877.33	0.23	216.94	37.35	1115.55	-12.93	11.02	32.33
9.	ABREL	1331.60	112.46	14873.40	0.19	-34.59	-27.73	188.85	30.95	-4.54	-30.02
10.	SOBHA	1230.00	57.04	13155.32	0.49	50.85	273.37	1278.15	50.03	6.96	6.07
11.	SIGNATURE	765.70	10.32	10772.33	0.00	-16.53	-148.00	551.99	-36.24	7.49	-8.10
12.	GARUDA	174.30	11.92	1621.72	0.00	41.55	48.37	175.38	40.13	32.72	32.02

Detailed Comparison with:

Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	21	58	60	35	47	62	81	125	116	140	149	175
	14	39	41	23	33	45	57	89	82	95	101	120
Operating Profit	7	19	19	12	13	17	24	36	34	45	48	56
OPM %	33.10%	32.30%	31.86%	33.19%	28.71%	27.69%	29.82%	29.10%	29.56%	32.20%	32.19%	32.01%
Other Income	0	0	0	0	1	0	1	2	2	0	-0	0
Interest	0	0	0	0	0	0	0	0	0	2	1	1
Depreciation	0	0	0	0	0	0	0	0	0	0	0	0
	7	18	19	12	14	17	24	37	36	44	47	56
Tax %	25.18%	25.15%	28.87%	25.17%	25.20%	25.17%	26.07%	25.15%	25.21%	24.54%	26.39%	25.49%
Net Profit	5	14	14	9	10	13	18	28	27	33	34	42
	1	2	2	1	1	1	2	3	3	4	4	0
Equity Capital	37	37	37	47	37	47	47	47	47	47	47	47
Reserves	0	0	0	0	0	0	0	0	0	0	0	0
Promoter Pledge %	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	TTM
	72	77	161	154	225	581
	60	50	105	104	159	398
Operating Profit	15	27	56	50	68	—
OPM %	21	35	35	32	30	—
Other Income	3	0	1	0	2	2
Interest	2	2	0	0	1	3
Depreciation	0	0	1	0	0	0
	12	25	55	50	67	183
Tax %	25	24	26	27	25	25
Net Profit	9	19	41	36	50	136
EPS	7	15	5	5	5	—
Dividend Payout %	0	0	0	0	0	—
Minority Interest	0	0	0	0	0	0
Share of Associates	0	0	0	0	0	0
Adjusted EPS	1	3	5	5	5	—

COMPOUNDED SALES GROWTH

10 Years:: —
5 Years:: —
3 Years:: 43%

COMPOUNDED PROFIT GROWTH

10 Years:: —
5 Years:: —
3 Years:: 38%

STOCK PRICE CAGR

10 Years:: —
5 Years:: —
3 Years:: —
1 Year:: -11%

RETURN ON EQUITY

10 Years:: —
5 Years:: 44%
3 Years:: 41%
Last Year:: 22%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
LIABILITIES	-	-	-	-	-
Equity Capital	12	12	12	37	47
	11	29	70	82	285
	15	12	0	0	0
Trade Payables	58	41	62	62	31
	36	16	31	47	43
Total Liabilities	132	111	176	228	406
ASSETS	-	-	-	-	-
	1	2	2	2	1
Capital Work in Progress	2	2	2	2	2
	0	0	0	0	9
	0	3	7	7	11
	0	0	0	176	180
Cash & Bank	0	7	7	2	44
	128	96	159	38	157
Total Assets	132	111	176	228	406
Total Debt	15	12	0	0	0
Net Working Capital	26	22	62	92	294
Contingent Liabilities	0	0	0	0	0
Book Value per Share	18.47	33.55	66.32	15.92	35.66
Face Value	10.00	10.00	10.00	5.00	5.00

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
	6	13	12	-7	-111
Cash from Investing	12	-1	-2	3	-50
Cash from Financing	-18	-5	-12	-0	162
	0	7	-2	-4	1
Free Cash Flow	6	12	12	-7	-111
OCF / Net Profit	0.67	0.69	0.30	-0.19	-2.22
Cumulative 5-Year FCF	0	0	0	0	0

Ratios

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
PER SHARE
EPS (₹)	7.45	15.08	32.75	4.87	5.35
Book Value (₹)	18.47	33.55	66.32	15.92	35.66
Dividend per Share (₹)	0.00	0.00	0.00	0.00	0.03
Cash EPS (₹)	1.28	2.55	5.53	4.93	5.39
PROFITABILITY
Operating Margin %	20.73%	35.27%	34.85%	32.30%	29.46%
Net Margin %	12.89%	24.39%	25.39%	23.63%	22.13%
ROE %	40.32%	57.97%	65.59%	36.14%	22.09%
ROCE %	38.46%	58.52%	81.22%	49.19%	30.09%
	7.01%	15.47%	28.48%	18.04%	15.72%
EFFICIENCY
Debtor Days	166	149	122	300	289
Inventory Days	0	13	11	17	15
Payable Days	1241	1591	1628	2418	395
	-1076	-1429	-1496	-2102	-90
FINANCIAL HEALTH
Debt to Equity (x)	0.65x	0.29x	0.00x	0.00x	0.00x
Interest Coverage (x)	6.28x	12.95x	144.76x	2011.11x	66.93x
	1.33x	1.36x	1.74x	1.84x	4.98x
GROWTH
Revenue Growth %	0.00%	7.04%	108.63%	-4.05%	45.95%
Operating Profit Growth %	0.00%	82.16%	106.09%	-10.55%	36.14%
Net Profit Growth %	0.00%	102.44%	117.20%	-10.69%	36.69%
	0.00%	0.00%	0.00%	-85.11%	9.81%
VALUATION
P/E (x)	0.00x	0.00x	0.00x	0.00x	19.38x
P/B (x)	0.00x	0.00x	0.00x	0.00x	2.91x
Dividend Yield %	0.00%	0.00%	0.00%	0.00%	0.02%
	0.00x	0.00x	0.00x	0.70x	13.51x

Shareholding Pattern

Numbers in percentages

	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	67.56	67.56	67.56	67.56	67.56	67.56	67.56
	6.65	4.53	4.48	3.09	2.34	2.64	2.63
	1.31	0.93	0.65	1.12	1.01	0.48	0.23
Government	0.00	0.00	0.00	0.00	0.00	0.00	0.00
	24.48	26.97	27.31	28.23	29.08	29.32	29.58

Documents

Corporate disclosures, annual reports, credit ratings, and concall transcripts

2026-08-11

Copy of Newspaper Publication

2026-08-11 - Garuda Construction and Engineering Limited has informed the Exchange about Copy of Newspaper Publication for the Financial Results declared for quarter ended June 30, 2026S

2026-08-10

Outcome of Board Meeting

2026-08-10 - Garuda Construction and Engineering Limited has submitted to the Exchange, the financial results for the period ended Jun 30, 2026.

2026-08-03

Updates

2026-08-03 - Garuda Construction and Engineering Limited has informed the Exchange regarding 'Disclosure under Regulation 31(1) of the SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011'.

2026-07-13

Certificate under SEBI (Depositories and Participants) Regulations, 2018

2026-07-13 - Garuda Construction and Engineering Limited has informed the Exchange about Certificate under SEBI (Depositories and Participants) Regulations, 2018 for the quarter ended 30th June, 2026

2026-06-26

Trading Window

2026-06-26 - Garuda Construction and Engineering Limited has informed the Exchange regarding the Trading Window closure pursuant to SEBI (Prohibition of Insider Trading) Regulations, 2015

2026-06-09

Change in Management

2026-06-09 - Garuda Construction and Engineering Limited has informed the Exchange about change in Management

2026-06-08

Shareholders meeting

2026-06-08 - Garuda Construction and Engineering Limited has informed the Exchange regarding Proceedings of Postal Ballot. Further, the Company has submitted the Exchange a copy of Scrutinizers report along with voting results.

2026-05-30

General Updates

2026-05-30 - Garuda Construction and Engineering Limited has informed the Exchange about Appointment and Resignation of Secretarial Auditor

2026-05-19

Copy of Newspaper Publication

2026-05-19 - Garuda Construction and Engineering Limited has informed the Exchange about Copy of Newspaper Publication for the Financial Results declared for quarter and year ended March 31, 2026.

News

Recent coverage and analyst commentary for GARUDA

Loading news…

🤖

AI Stock Analyst

Garuda Construction & Engineering Ltd.

🔒

Sign in to Chat with AI

✨ Sign In to Chat

Free 5nance Account