Garg Furnace Ltd (530615)
Latest quarterly results (Q1 FY27)
In its latest reported quarter, Q1 FY27, Garg Furnace's revenue was ₹59.2 Cr, and net profit ₹1.8 Cr; the operating margin was 5.4%.
| Q1 FY27 (₹ Cr) | Value | YoY | QoQ |
|---|---|---|---|
| Revenue | ₹59.2 | — | -24.6% |
| Operating profit | ₹3.2 | — | -23.8% |
| Net profit | ₹1.8 | — | -33.6% |
| EPS (₹) | 2.53 | — | -34.8% |
| Operating margin | 5.4% | — | — |
📢 Recent Corporate Announcements
Garg Furnace Ltd has approved the allotment of 13,98,000 convertible warrants on a preferential basis at an issue price of ₹126.50 per warrant, aggregating to ₹17.68 crore. The company received ₹4.42 crore (25% upfront subscription money at ₹31.625 per warrant), with the balance 75% payable on conversion. The total fundraise of ₹17.68 crore represents ~13.2% of the company's current market capitalization of ₹134 crore. The allotment is split across promoters (12,00,000 warrants) and non-promoter entities (1,98,000 warrants).
- Approved allotment of 13,98,000 convertible warrants at ₹126.50 each, totaling ₹17.68 crore
- Received ₹4,42,11,750 upfront (25% subscription price at ₹31.625 per warrant)
- Balance ₹94.88 per warrant (75%) payable at the time of conversion into equity shares
- Promoters allotted 12,00,000 warrants (85.8% of issue) across 4 individuals, while non-promoters receive 1,98,000 warrants
Garg Furnace Ltd responded to BSE's query dated August 28, 2026, regarding recent movements in its share price (which gained 50.6% over the last 3 months). The company confirmed that it has made all required disclosures under Regulation 30 of SEBI LODR Regulations and is not withholding any price-sensitive information. Management stated that the stock price movement is purely market-driven, reflecting general market conditions and investor perception.
- BSE sought clarification regarding share price movement via email on August 28, 2026
- Company clarified full compliance with Regulation 30 of SEBI LODR Regulations, 2015
- Management confirmed no material price-sensitive information has been withheld from exchanges
- Stock had gained 50.6% over the preceding 3-month period
Garg Furnace Ltd has submitted a compliance filing under Regulation 30 of SEBI Listing Regulations to BSE regarding the issuance of a press release on August 25, 2026. However, the operational text of the press release is not detailed in the provided covering letter. The company reported revenue of Rs 57.18 Cr and net profit of Rs 1.68 Cr in the June 2026 quarter.
- Submission under Regulation 30 of SEBI Listing Regulations on August 25, 2026
- Filing covers an intimation of a press release issued for dissemination
- Company reported Q1 Jun 2026 revenue of Rs 57.18 Cr and net profit of Rs 1.68 Cr
Garg Furnace Ltd has issued a corrigendum to its AGM notice detailing a proposed preferential issue of up to 13,98,000 convertible warrants at ₹126.50 per warrant to raise ₹17.68 crore. The proceeds will primarily fund working capital requirements (₹14.83 crore), general corporate purposes (₹2.44 crore), and capital expenditure (₹0.41 crore). The issue price of ₹126.50 is slightly above the SEBI-mandated floor price of ₹126.15 per warrant. The fundraise represents approximately 17.9% of the company's net worth (₹99 crore).
- Proposed preferential issue of up to 13,98,000 convertible warrants at ₹126.50 per warrant
- Total fundraising target of ₹17,68,47,000 (₹17.68 crore)
- Fund utilisation: ₹14.83 crore for working capital, ₹2.44 crore for general corporate purposes, and ₹0.41 crore for capex
- SEBI ICDR floor price calculated at ₹126.15 per warrant based on 90 trading days VWAP
- AGM scheduled for August 29, 2026, to seek shareholder approval
Garg Furnace Limited announced that its Board of Directors approved the unaudited standalone and consolidated financial results for the quarter ended June 30, 2026, at its meeting on August 14, 2026. Statutory auditors Ashwani & Associates issued an unmodified limited review report with no adverse qualifications. Consolidated results incorporate the performance of its subsidiary, Vaneera Industries Limited. Detailed numerical financial statements were not appended in the immediate text extract.
- Board approved unaudited Standalone and Consolidated results for quarter ended 30th June, 2026
- Statutory auditor Ashwani & Associates issued an unmodified Limited Review Report
- Consolidated numbers include subsidiary Vaneera Industries Limited
- Board meeting commenced at 04:00 P.M. and concluded at 05:00 P.M. on August 14, 2026
Garg Furnace Ltd has approved its unaudited standalone and consolidated financial results for the quarter ended June 30, 2026. Statutory auditors M/s Ashwani & Associates issued an unmodified limited review report without qualifications for both standalone and consolidated statements. The consolidated performance incorporates subsidiary Vaneera Industries Limited. The board meeting concluded on August 14, 2026.
- Approved unaudited standalone and consolidated financial results for the quarter ended June 30, 2026.
- Statutory auditor M/s Ashwani & Associates issued an unmodified limited review report.
- Consolidated accounts incorporate subsidiary entity M/s Vaneera Industries Limited.
- Board meeting commenced at 04:00 P.M. and concluded at 05:00 P.M. on August 14, 2026.
Garg Furnace Ltd has scheduled a board meeting on August 14, 2026, to approve unaudited standalone and consolidated financial results for the quarter ended June 30, 2026. The company enters this quarter following a FY26 performance that saw revenue reach Rs 289 Cr with a net profit of Rs 10 Cr. Investors will be watching for margin stability, as the trailing twelve-month operating margin stands at 4.4%. The trading window for insiders has been closed since July 1, 2026, in anticipation of these results.
- Board meeting scheduled for August 14, 2026, to approve Q1 FY27 results
- Trading window closed from July 1, 2026, until 48 hours post-announcement
- Company reported a TTM revenue of Rs 289 Cr and PAT of Rs 10 Cr
- Previous quarter (Mar 2026) revenue stood at Rs 75.37 Cr with an EPS of Rs 3.85
- Market capitalization currently stands at approximately Rs 83 Cr
Garg Furnace Limited has released its FY25-26 Annual Report and scheduled its 53rd AGM for August 29, 2026. The company reported FY26 revenue of Rs 289 Cr and a PAT of Rs 10 Cr, reflecting a steady growth from FY25's Rs 262 Cr revenue and Rs 8 Cr profit. A key agenda for the AGM is the approval of material related party transactions with Vaneera Industries Ltd for up to Rs 200 Cr in FY27, which is significant given it represents approximately 69% of the company's FY26 revenue. The statutory auditor highlighted inventory valuation of Rs 19.88 Cr as a Key Audit Matter.
- FY26 Revenue grew to Rs 289 Cr from Rs 262 Cr in the previous financial year.
- Proposed Related Party Transaction limit of Rs 200 Cr with Vaneera Industries for FY27.
- Inventory as of March 31, 2026, was valued at Rs 19.88 Cr.
- 53rd Annual General Meeting (AGM) scheduled for August 29, 2026, in Ludhiana.
- Promoter holding remained stable at 53.41% throughout the fiscal year.
Garg Furnace Ltd has scheduled its 53rd Annual General Meeting (AGM) for August 29, 2026. A key agenda item is the approval of Material Related Party Transactions (RPT) with Vaneera Industries Ltd (a promoter group entity) for up to Rs 200 crore in FY27. This proposed limit is highly significant, representing approximately 69% of the company's TTM revenue of Rs 289 crore. Additionally, the company is seeking shareholder approval for a preferential issue of equity shares to its promoters.
- 53rd AGM scheduled for August 29, 2026, with a book closure period from August 23 to August 29.
- Proposed Related Party Transaction (RPT) limit of Rs 200 crore with Vaneera Industries Ltd for FY27.
- The Rs 200 crore RPT limit accounts for ~69.2% of the company's TTM revenue of Rs 289 crore.
- Notice includes a proposal for a preferential issue of equity shares to the promoter group.
- Re-appointment of Smt. Vaneera Garg as Whole Time Director with an annual remuneration of Rs 18,00,000.
Garg Furnace Ltd has issued a notice for its 53rd Annual General Meeting (AGM) scheduled for August 29, 2026. The company is seeking shareholder approval for material related party transactions (RPT) with Vaneera Industries Ltd up to a limit of Rs 200 crore for FY27, which represents approximately 69% of its TTM revenue of Rs 289 crore. Additionally, the company is proposing a preferential issue of equity shares to promoters and other entities to raise capital. Other agenda items include the re-appointment of Smt. Vaneera Garg as Whole Time Director with an annual remuneration of Rs 18 lakh.
- Proposed Material Related Party Transactions with Vaneera Industries Ltd capped at Rs 200 crore for FY2026-27.
- Shareholder approval sought for a preferential issue of equity shares to promoters and other allottees.
- Book closure for the 53rd AGM set from August 23, 2026, to August 29, 2026.
- Remuneration of Rs 18 lakh per annum proposed for Whole Time Director Smt. Vaneera Garg.
- Cut-off date for e-voting eligibility fixed as August 22, 2026.
Garg Furnace Ltd has approved a preferential issue of 13.98 lakh warrants at ₹126.50 per warrant, totaling ₹17.68 crore. This fundraise represents approximately 19.9% of the company's current market capitalization (₹89 Cr) and 17.8% of its net worth. Promoters are leading the infusion, subscribing to 12 lakh warrants (85.8% of the issue). However, the company has deferred the approval of its Q1 FY27 financial results due to 'unavoidable circumstances', which introduces short-term uncertainty.
- Issuance of 13,98,000 warrants convertible into equity at ₹126.50 per share, a ~7% discount to the current price of ₹136.2.
- Total issue size of ₹17.68 crore, significantly impacting the capital structure of a ₹89 crore market cap company.
- Promoter group to subscribe to 12,00,000 warrants, with Managing Director Davinder Garg's diluted stake potentially rising from 12.55% to 14.07%.
- Tenor of warrants is 18 months from the date of allotment for conversion into equity.
- Board deferred Q1 FY27 financial results approval, originally expected by July 31, 2026.
Garg Furnace has scheduled a board meeting on July 31, 2026, to consider a proposal for fund raising via a preferential issue of equity shares or convertible warrants. The board will also approve the unaudited financial results for the quarter ended June 30, 2026. Given the company's small market capitalization of ₹76 Cr, the quantum and pricing of the fundraise are critical for existing shareholders. The company currently operates with a thin operating margin of 4.4% on a TTM revenue of ₹289 Cr.
- Board meeting scheduled for July 31, 2026, to discuss fund raising and Q1 FY27 results.
- Fundraise proposed via preferential issue of equity shares, convertible warrants, or other instruments.
- Trading window for insiders has been closed since July 01, 2026.
- Company reported a TTM PAT of ₹10 Cr against a market cap of ₹76 Cr.
- Current Debt-to-Equity ratio stands at a conservative 0.18 as of the latest available data.
Financial Performance
Financial analysis data not yet available for this company.
Operational Drivers
Operational analysis data not yet available for this company.
Strategic Growth
Strategic growth analysis not yet available for this company.
External Factors
External factors analysis not yet available for this company.
Regulatory & Governance
Regulatory analysis not yet available for this company.
Risk Analysis
Risk analysis not yet available for this company.
