Attached herewith is the 33rd Annual Report (FY 24-25) for Garnet construction Limited
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Garnet Construction Limited has filed its 33rd Annual Report for FY 2024-25 along with notice for the AGM to be held on September 30, 2025 via video conferencing. Total income rose modestly to Rs. 1,941.19 lakhs from Rs. 1,818.82 lakhs in the previous year, while total expenditure fell sharply to Rs. 951.15 lakhs from Rs. 1,409.39 lakhs. As a result, EBITDA more than doubled to Rs. 1,114.16 lakhs (vs Rs. 510.33 lakhs), and Profit After Tax jumped about 2.5x to Rs. 740.59 lakhs from Rs. 294.03 lakhs. No dividend was declared. Business items at the AGM include reappointment of Managing Director Mr. Kishan Kumar Kedia (retiring by rotation), reappointment of Independent Director Ms. Sriya Siddiqui for a second 5-year term, and appointment of Ms. Neetu Maheshwari as Secretarial Auditor for FY 2025-26 to FY 2029-30.
The sharp improvement in profitability, with PAT nearly 2.5 times higher, reflects a strong turnaround in margins and is a positive signal for shareholders. However, the decision to skip dividend despite higher profits may disappoint income-focused investors.