Garuda Aerospace's FY26 profit rises 41% to Rs 25.9 crore ahead of IPO

Chennai-based drone maker Garuda Aerospace reported a net profit of Rs 25.9 crore for FY26, up 41.1% from Rs 18.4 crore a year earlier, as operating revenue rose 66.8% to Rs 206 crore. EBITDA improved 31.8% to Rs 35.1 crore, while total expenses climbed 73.2% to Rs 172.2 crore, led by raw material costs. The results land as the company's public listing takes shape: Garuda filed draft IPO papers confidentially with SEBI in April and received the regulator's go-ahead in August, with its board having approved a fresh issue of up to Rs 750 crore. The board also cleared a Rs 57.2 crore private placement in August from investors including Umasankar Nistala, Rakesh Pillai, Jitendra Rana, Vimaan Innovators LLP and Aditum Management, to fund growth, working capital and loan repayments. Garuda says it has manufactured and sold over 3,000 drones and was the first drone company to partner three defence PSUs. It has raised more than $37 million to date and was last valued at $250 million.

DTT summary based on Inc42's report. The full article is on the publisher's site.