Garuda Construction & Engineering Ltd

Garuda Construction and Engineering Limited was founded in 2010 and is a construction company.

The company provides comprehensive construction services for residential, commercial, residential/commercial, infrastructure, and industrial projects, as well as additional services for infrastructure and hospitality projects. The company also provides services such as operation and maintenance (O&M) and mechanical, electrical and plumbing (MEP) services as well as finishing works as part of construction services.

Strengths:

  • Exclusive and focused business approach: The company primarily focuses on the construction of residential and commercial buildings and is now venturing into industrial and infrastructure projects.
  • Established and proven track record: The company has a strong track record in various construction projects, including Golden Chariot Vasai Hotel & Spa and Golden Chariot Boutique Hotel in 2015. Since 2017, the company has undertaken residential projects in MMR and completed two. From 2010 to 2017, the company focused on civil engineering in MMR, Karnataka and Tamil Nadu.
  • Strong project management and execution capabilities
  • Strong financial performance and healthy balance sheet: The company recorded Revenue from Operations of Rs. 1,187.50 Lacs for the period ended April 30, 2024, Rs. 15,417.83 Lacs in FY 2024 and Rs. 16068.76 Lacs in FY 2023.
  • Visible growth through increasing order book: As of September 28, 2024, the order value of the company’s ongoing and pending projects totaled Rs. 1,40,827.44 lacs. With projects spread across MMR, Arunachal Pradesh, Karnataka, Rajasthan, and Punjab, the increasing number of construction works and projects helped the company maintain its growth momentum and reputation.
  • Experienced promoter, directors, and management team

As of September 28, 2024, the company had 65 permanent employees.

Garuda Construction and Engineering Limited Financial Information (Restated)

Garuda Construction and Engineering Limited’s revenue decreased by -4% and profit after tax (PAT) dropped by -11% between the financial year ending with March 31, 2024 and March 31, 2023.

Period Ended30 Apr 202431 Mar 202431 Mar 202331 Mar 2022
Assets234.84228.49176.35111.03
Revenue11.88154.47161.0277.03
Profit After Tax3.536.4440.818.78
Net Worth122.51119.0182.6141.79
Reserves and Surplus85.1681.6570.1329.34
Total Borrowing0.150.150.1911.99
Amount in ₹ Crore

Key Performance Indicator

The market capitalization of Garuda Construction and Engineering IPO is Rs 883.9 Cr.

KPI as of March 31, 2024.

KPIValues
ROE36.14%
ROCE46.69%
RoNW30.62%
P/BV5.97
PAT Margin (%)23.63
 Pre IPOPost IPO
EPS (Rs) 4.874.52
P/E (x) 19.4921.03
Note:
  • The Pre IPO EPS is calculated based on Pre issue shareholding as on date of RHP and the latest FY earnings as of March 31, 2024 that is available in RHP.
  • The Post Issue EPS is calculated based on the Post issue shareholding and annualized FY earnings of April 30, 2024 that is available in RHP.

Objects of the Issue (Garuda Construction and Engineering IPO Objectives)

The Company proposes to utilize the funds being raised to fund the following objectives:

  1. Working Capital Requirements
  2. General Corporate Expenses and Unidentified Inorganic Acquisitions

Garuda Construction & Engineering IPO Details

IPO DateOctober 8, 2024 to October 10, 2024
Listing Date[.]
Face Value₹5 per share
Price Band₹92 to ₹95 per share
Lot Size157 Shares
Total Issue Size27,800,000 shares
(aggregating up to ₹264.10 Cr)
Fresh Issue18,300,000 shares
(aggregating up to ₹173.85 Cr)
Offer for Sale9,500,000 shares of ₹5
(aggregating up to ₹90.25 Cr)
Issue TypeBook Built Issue IPO
Listing AtBSE, NSE
Share holding pre issue74,741,742
Share holding post issue93,041,742

Garuda Construction and Engineering IPO Promoter Holding

Pravinkumar Brijendra Kumar Agarwal, PKH Ventures Limited and Makindian Township Private Limited are the company's promoters.

Share Holding Pre Issue96.81%
Share Holding Post Issue 

SHARIAH SCREENING for - Garuda Construction and Engineering Limited IPO

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BUSINESS SCREEN

FINANCIAL RATIOS

As per our analysis and Based on the information we have, this is the output.
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