Garuda Construction and Engineering Limited (IN:GARUDA)
:GARUDA
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Garuda Construction and Engineering Limited
(GARUDA)
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Rating:67Neutral
Price Target:
₹186.00
▼(-0.88% Downside)
Action:Downgraded
Date:05/22/26
The score is primarily supported by strong financial performance (rapid scaling, solid profitability, and a low-leverage balance sheet), partially offset by uneven cash conversion in recent years. Technicals are mixed/weak with the stock below key moving averages (notably the 200DMA), while valuation appears reasonable at ~13.6x earnings.
Positive Factors
Revenue Growth
Consistent multi-year revenue scaling from ~2.26B to ~5.31B indicates expanding project wins and market penetration in construction and engineering. Large, contract-driven revenue growth supports a durable backlog, improves economies of scale, and funds capability investments over the next 2–6 months.
Negative Factors
Cash-Flow Volatility
Intermittent negative operating and free cash flow despite positive net income points to working-capital or receivables strain common in construction. This raises earnings-quality risk and can constrain liquidity for bidding, supplier payments and capex; the recent rebound is encouraging but consistency is unproven.
Read all positive and negative factors
Positive Factors
Negative Factors
Revenue Growth
Consistent multi-year revenue scaling from ~2.26B to ~5.31B indicates expanding project wins and market penetration in construction and engineering. Large, contract-driven revenue growth supports a durable backlog, improves economies of scale, and funds capability investments over the next 2–6 months.
Read all positive factors
Garuda Construction and Engineering Limited (GARUDA) vs. iShares MSCI India ETF (INDA)
Market Cap
₹15.57B
Dividend YieldN/A
Average Volume (3M)133.59K
Price to Earnings (P/E)12.7
Beta (1Y)1.20
Revenue Growth135.17%
EPS Growth145.92%
CountryIN
Employees65
SectorServices
Sector StrengthN/A
IndustryEngineering & Construction
Share Statistics
EPS (TTM)9.30
Shares Outstanding93,041,740
10 Day Avg. Volume169,097
30 Day Avg. Volume133,592
Financial Highlights & Ratios
PEG Ratio0.08
Price to Book (P/B)2.72
Price to Sales (P/S)2.33
P/FCF Ratio15.78
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)N/A
Revenue Forecast (FY)N/A
Garuda Construction and Engineering Limited Business Overview & Revenue Model
Company Description
Garuda Construction and Engineering Limited offers civil construction and engineering services in India. It constructs residential, commercial, residential cum commercial, hospitality, infrastructure, and industrial projects. The company also cons...
How the Company Makes Money
Garuda Construction and Engineering Limited generates revenue primarily through long-term contracts for construction and engineering projects. The company earns income from various sources, including design and build services, construction managem...
Garuda Construction and Engineering Limited Financial Statement Overview
Summary
Income Statement
78
Positive
Balance Sheet
88
Very Positive
Cash Flow
54
Neutral
| Breakdown | TTM | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 3.85B | 5.31B | 2.26B | 1.54B | 1.61B | 770.21M |
| Gross Profit | 1.34B | 1.77B | 817.12M | 598.13M | 588.23M | 347.83M |
| EBITDA | 1.17B | 1.64B | 682.67M | 500.74M | 559.59M | 270.41M |
| Net Income | 860.35M | 1.22B | 497.95M | 364.35M | 407.95M | 187.82M |
Balance Sheet | ||||||
| Total Assets | 5.74B | 6.44B | 4.07B | 2.28B | 1.76B | 1.11B |
| Cash, Cash Equivalents and Short-Term Investments | 149.58M | 228.74M | 444.99M | 5.07M | 48.46M | 68.84M |
| Total Debt | 886.00K | 120.37M | 1.07M | 1.52M | 1.93M | 119.90M |
| Total Liabilities | 1.87B | 1.90B | 749.89M | 1.09B | 937.38M | 692.44M |
| Stockholders Equity | 3.87B | 4.54B | 3.32B | 1.19B | 826.12M | 417.90M |
Cash Flow | ||||||
| Free Cash Flow | 49.01M | 782.78M | -1.11B | -69.35M | 119.52M | 117.58M |
| Operating Cash Flow | 49.01M | 789.70M | -1.10B | -68.12M | 122.56M | 129.17M |
| Investing Cash Flow | -62.33M | -848.61M | -515.56M | 25.39M | -21.13M | -11.56M |
| Financing Cash Flow | -4.83M | 119.30M | 1.63B | -658.00K | -121.81M | -50.82M |
Garuda Construction and Engineering Limited Technical Analysis
Negative
187.65
Price Trends
170.17
Negative
172.88
Negative
188.42
Negative
Market Momentum
-1.32
Positive
44.04
Neutral
14.84
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:GARUDA, the sentiment is Negative. The current price of 187.65 is above the 20-day moving average (MA) of 174.02, above the 50-day MA of 170.17, and below the 200-day MA of 188.42, indicating a bearish trend. The MACD of -1.32 indicates Positive momentum. The RSI at 44.04 is Neutral, neither overbought nor oversold. The STOCH value of 14.84 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for IN:GARUDA.
Garuda Construction and Engineering Limited Peers Comparison
UnderperformOutperform
Sector (55)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
67 Neutral | ₹15.57B | 12.73 | ― | ― | 135.17% | 145.92% | |
55 Neutral | $13.29B | 17.42 | 10.03% | 0.93% | 7.13% | -12.93% | |
51 Neutral | ₹1.65B | 6.24 | ― | ― | -6.15% | ― | |
51 Neutral | ₹1.80B | 32.29 | ― | ― | 5.29% | -11.18% | |
46 Neutral | ₹3.01B | 24.67 | ― | 0.47% | 4.13% | -84.27% | |
42 Neutral | ₹60.05M | -17.14 | ― | ― | ― | ― | |
41 Neutral | ₹113.67M | -0.14 | ― | ― | -35.93% | -3791.54% |
* Services Sector Average
IN:GARUDA
Garuda Construction and Engineering Limited
167.35
44.05
35.73%
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Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.