The company has duly approved and taken on record the unaudited financial statements for the half year ended and quarter ended 30th September 2025 in the meeting held on 14th November 2025
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Garnet Construction's board, on 14 November 2025, approved unaudited results reviewed by statutory auditor Shankarlal Jain & Associates LLP. For H1 FY26, net profit surged to Rs 2,474.28 lakhs from Rs 637.38 lakhs a year ago (up ~288%), driven by higher margins on unit deliveries. However, revenue from operations fell sharply to Rs 566.75 lakhs from Rs 1,596.75 lakhs (down ~64%) because real estate revenue is booked only on delivery of units, not on construction progress. In Q2 alone, revenue doubled to Rs 162.85 lakhs (from Rs 79.24 lakhs) but net profit dropped to Rs 653.43 lakhs (from Rs 1,821.10 lakhs). Inventories fell from Rs 6,500 lakhs to Rs 5,062 lakhs as units were handed over, while trade receivables jumped from Rs 2,954 lakhs to Rs 6,806 lakhs. Operating cash flow turned strongly positive at Rs 340.60 lakhs (vs Rs 58.36 lakhs).
Mixed picture for shareholders: profits are booming on delivered inventory, but top-line is shrinking and customer payments are piling up as receivables, which is worth watching. The auditor gave a clean review with no qualifications, and the balance sheet remains strong with low debt and growing reserves (Rs 11,374 lakhs vs Rs 8,899 lakhs).