Garuda Aerospace’s FY26 revenue jumps 67% to Rs 206 Cr; profit rise 42%

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Drone technology startup Garuda Aerospace reported a strong 67% year-on-year revenue growth in FY26 while maintaining profitability, with net profit at Rs 26 crore as the Chennai-based company is preparing to go public soon as it recently received SEBI nod for Rs 1,000 crore IPO.
Garuda’s revenue from operations rose to Rs 206 crore in the fiscal year ended March 2026,compared to Rs 123.5 crore in FY25, according to its financial statements filed with the Registrar of Companies (RoC).
Garuda Aerospace designs and manufactures drones for applications across agriculture, defence, infrastructure, mining and disaster management. Besides drone manufacturing, the firm also offers Drone-as-a-Service (DaaS) and operates a DGCA-approved remote pilot training programme. 
Revenue from sale of services surged 84.1% to Rs 106.46 crore in FY26 from Rs 57.83 crore in FY25, while revenue from sale of products grew 66.2% to Rs 99.50 crore from Rs 59.85 crore during the same period.
On the expense front, the cost of materials, remains the largest expense component, rose 62% to Rs 117 crore in FY26 from Rs 72.21 crore in FY25. Meanwhile, employee benefit expenses declined 16.2% to Rs 8 crore from Rs 9.55 crore.
Legal and professional charges surged 94.6% to Rs 12.88 crore from Rs 6.62 crore. Other overheads such as impairment loss on financial assets, depreciation & amortization expenses, travelling added another Rs 34.12 crore to the total cost.
Overall, Garuda’s total expenses grew 73.7% to Rs 172 crore in the last fiscal year compared to Rs 99 crore in FY25.
Despite the increase in costs, the company reported a 41.5% increase in net profit to Rs 26 crore in FY26 from Rs 18.37 crore in FY25. Its return on capital employed (ROCE) stood and EBITDA margin stood  at 14.71% and 18.97% respectively.
On a unit level, Garuda spent Rs 0.83 to generate every rupee of operating revenue in FY26, compared to Rs 0.80 in FY25. 
At the end of March 2026, the firm’s total current assets increased to Rs 303 crore from Rs 176 crore, while its cash and bank balance stood at Rs 5.2 crore.
Garuda Aerospace pre-filed its draft red herring prospectus (DRHP) with SEBI through the confidential route in April. The proposed Rs 1,000 crore IPO comprises a fresh issue of shares worth Rs 750 crore and an offer for sale (OFS) of Rs 250 crore by existing shareholders.

document fetched 2026-10-24 11:25