Garuda Construction reports robust Q2/H1 FY26 results; order book grows to ₹3,461 crore
Garuda Construction reported robust Q2/H1 FY26 results with significant revenue and PAT growth. Its order book expanded to ₹3,461 crore, providing strong future visibility, and it remains debt-free.
The impressive financial growth in Q2 and H1 FY26, coupled with a substantial and expanding order book that provides multi-year revenue visibility, suggests a strong positive impact on the company's future prospects and market valuation.
The company reported substantial year-on-year growth in revenue, EBITDA, and PAT for both Q2 and H1 FY26. Its order book has significantly expanded to ₹3,461 crore, and management expresses confidence in future execution and profitability. The company is also debt-free.
* Garuda Construction and Engineering Limited (GARUDA) announced its Investor Presentation for Q2 and H1 FY25-26 on October 28, 2025. * Financial Highlights (Consolidated): * Q2 FY26 Performance: * Revenue from Operations grew by 149.2% year-on-year to ₹116.5 crores from ₹46.8 crores in Q2 FY25. * EBITDA increased by 156.5% year-on-year to ₹34.4 crores from ₹13.4 crores in Q2 FY25. * Profit After Tax (PAT) surged by 164.7% year-on-year to ₹27.1 crores from ₹10.2 crores in Q2 FY25. * EBITDA Margin stood at 29.5% (up 80 basis points) and PAT Margin at 23.3% (up 140 basis points). * H1 FY26 Performance: * Revenue from Operations increased by 195.1% year-on-year to ₹241.6 crores from ₹81.9 crores in H1 FY25. * EBITDA grew by 182.5% year-on-year to ₹70.8 crores from ₹25.1 crores in H1 FY25. * PAT rose by 191.7% year-on-year to ₹55.1 crores from ₹18.9 crores in H1 FY25. * EBITDA Margin was 29.3% (down 130 basis points) and PAT Margin was 22.8% (down 30 basis points). * Order Book and Business Overview: * The company's order book has expanded 2.5 times since its IPO, reaching ₹3,461 crores as of October 27, 2025. * It added fresh orders worth nearly ₹353 crores during Q2 FY26. * Key projects include the International State of the Art Convention Centre at Gorakhpur (valued at ₹1,087.34 crores, expected completion within 30 months) and the Delhi Police Headquarters (₹448 crores, completed and maintained for 13 years). * The company operates on an asset-light business model and is debt-free. * Management Commentary (Mr. Pravin Kumar Brijendra Kumar Agarwal, Managing Director and Chairman): * Stated that the company is in an "era of execution" and is building on its momentum with a strong order book. * Acknowledged that prolonged monsoon rains impacted on-ground progress in Q2 but expressed confidence in execution picking up pace in the second half of the year. * Highlighted that the full-year revenue of the previous fiscal year (FY25) was achieved within the first six months of FY26. * Emphasized the focus on niche, high-margin projects, avoiding contracts that could dilute profitability. * Mentioned advanced negotiations for a large project and the upcoming completion of the landmark Gruha 5-star rated project in FY26-27. * Expressed a bullish outlook for the coming times, committed to delivering stronger results post-monsoon, with a robust order book providing visibility for the next three years.
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Garuda Construction and Engineering Limited filed this with the NSE as a statutory disclosure, categorised under investor presentation. It is a primary document, not a recommendation, and the desk marks it high impact, which is the band that most often changes something.
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