Garnet Construction Ltd (526727)
Latest quarterly results (Q4 FY26)
In its latest reported quarter, Q4 FY26, Garnet Construction's revenue was ₹10.4 Cr, and net profit ₹4.7 Cr (+216.8% year on year); the operating margin was 32.7%.
| Q4 FY26 (₹ Cr) | Value | YoY vs Q4 FY25 | QoQ |
|---|---|---|---|
| Revenue | ₹10.4 | from loss | -34.0% |
| Operating profit | ₹3.4 | from loss | -75.3% |
| Net profit | ₹4.7 | +216.8% | -52.8% |
| EPS (₹) | 3.40 | +217.8% | -52.8% |
| Operating margin | 32.7% | — | — |
📢 Recent Corporate Announcements
Garnet Construction Limited announced its 34th Annual General Meeting to be held via video conferencing on September 30, 2026. The key agenda items include adopting the FY26 audited accounts and regularizing Ms. Chahat Kedia (age 20) as a Director. Additionally, shareholders will vote on the reappointment of Shri Arun Kumar Kedia as Managing Director for 5 years starting May 30, 2026, at a fixed basic salary of Rs 2,50,000 per month (Rs 30.00 lakh drawn in FY26). Arun Kedia holds 22,18,055 shares representing 15.95% of the company.
- 34th AGM scheduled for September 30, 2026, at 11:00 AM via VC/OAVM
- Approval sought for reappointment of Shri Arun Kumar Kedia as Managing Director for 5 years from May 30, 2026 to May 29, 2031
- Arun Kedia's proposed basic salary is Rs 2,50,000 per month; remuneration last drawn for FY26 was Rs 30.00 Lakh
- Arun Kedia holds 22,18,055 equity shares, representing 15.95% stake in the company
- Appointment of Ms. Chahat Kedia (age 20) as a Non-Independent Director up for shareholder vote
Garnet Construction Limited has submitted its 34th Annual Report for FY2025-26 and convened its 34th Annual General Meeting for September 30, 2026, via video conferencing. The key business includes the adoption of annual financial statements, regularizing the appointment of Director Ms. Chahat Sanjaykumar Kedia, and approving the appointment of Shri Arunkumar Kedia as Managing Director for a five-year tenure from May 30, 2026, to May 29, 2031. The cut-off date to determine e-voting eligibility is set for September 23, 2026.
- 34th Annual General Meeting scheduled for Wednesday, September 30, 2026, at 11:00 a.m. IST via VC/OAVM
- Special resolution proposed for appointment of Shri Arunkumar Kedia as Managing Director for a 5-year tenure (May 30, 2026 to May 29, 2031)
- Ordinary resolution proposed to appoint Ms. Chahat Sanjaykumar Kedia (DIN 11621550) as Director
- Remote e-voting window open from September 27, 2026 (9:00 a.m.) to September 29, 2026 (5:00 p.m.) with cut-off date on September 23, 2026
Garnet Construction reported a sharp decline in performance for Q1 FY27, posting a net loss of ₹1.04 Cr compared to a profit of ₹18.21 Cr in the same quarter last year. Revenue from operations was reported at -₹12.92 Lacs, a significant drop from ₹40.39 Cr in June 2025. The company follows Ind AS 115, recognizing revenue only upon delivery of units, which leads to highly volatile quarterly results. Despite the quarterly loss, the company maintains a low debt-to-equity ratio of 0.06 and a very low TTM P/E of 2.3.
- Net Loss of ₹103.79 Lacs for the quarter ended June 30, 2026, vs a profit of ₹1,821.10 Lacs YoY.
- Revenue from operations fell to -₹12.92 Lacs from ₹4,038.98 Lacs in the year-ago period.
- Total expenses reduced drastically to ₹95.33 Lacs from ₹1,602.42 Lacs YoY, reflecting lower project activity.
- Earnings Per Share (EPS) dropped to -₹0.75 from ₹13.10 in June 2025.
- Inventory levels saw a change of -₹202.34 Lacs during the quarter.
Garnet Construction reported a net loss of ₹1.04 crore for Q1 FY27, a sharp decline from the ₹18.21 crore profit recorded in Q1 FY26. Revenue from operations was negative at ₹(12.92) lakhs, compared to ₹40.39 crore in the previous year's corresponding quarter. This volatility is primarily due to the company's accounting policy of recognizing revenue only upon the delivery of units (Ind AS 115). While the headline numbers are poor, the company added ₹2.02 crore to its inventory, suggesting ongoing project development. Investors should note that quarterly results for this company are often not representative of its annual performance.
- Net Loss of ₹103.79 Lacs in Q1 FY27 compared to a profit of ₹1,821.10 Lacs in Q1 FY26
- Revenue from operations fell to negative ₹12.92 Lacs from ₹4,038.98 Lacs YoY
- Inventory increased by ₹202.34 Lacs during the quarter, indicating ongoing construction activity
- Earnings Per Share (EPS) dropped to ₹(0.75) from ₹13.10 in the year-ago period
Garnet Construction has scheduled a board meeting for August 14, 2026, to approve its unaudited standalone financial results for the quarter ended June 30, 2026. The company is coming off a strong FY26 where revenue reached Rs 83 Cr, a significant jump from Rs 16 Cr in FY25. However, quarterly revenue has shown a consistent sequential decline from Rs 40.39 Cr in June 2025 to Rs 10.4 Cr in March 2026. Investors will be monitoring if the company can stabilize its top-line performance in the new fiscal year.
- Board meeting scheduled for 14th August 2026 to review Q1 FY27 results.
- Results pertain to the quarter ended 30th June 2026.
- Company reported a high TTM PAT of Rs 39 Cr against a Market Cap of Rs 93 Cr.
- Revenue has declined sequentially for three quarters, from Rs 40.39 Cr (Jun 2025) to Rs 10.4 Cr (Mar 2026).
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