Garuda Construction and Engineering Limited has informed the Exchange about Credit Rating- New
GARUDA · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Infomerics Valuation and Rating Private Limited has assigned first-time credit ratings to Garuda Construction for bank facilities worth Rs. 75 crore. The long-term rating is IVR BBB+ with Stable outlook and short-term rating is IVR A2, both investment-grade. The company operates with negligible debt (Rs. 0.11 crore) and raised Rs. 173.85 crore via IPO in FY25. Financials show total operating income of Rs. 225.03 crore in FY25 with EBITDA of Rs. 66.45 crore (29.53% margin) and PAT of Rs. 49.80 crore. The order book stands at Rs. 4,336.72 crore as of December 2025, providing revenue visibility. Key risks flagged include statutory approval delays affecting Rs. 1,537 crore worth of projects and an elongated operating cycle of 204 days due to high debtor days and non-cash consideration in some contracts.
The investment-grade rating validates Garuda's financial health and strengthens its credibility with lenders and investors. With near-zero debt and robust order book visibility, the company appears well-positioned, though working capital intensity and project execution risks warrant monitoring.