Garuda Aerospace Limited
- Unlisted share
- Industrials & Engineering
- ISIN INE0REL01021
At a glance
Sales
FY26
₹206 Cr
+66.8%on FY25What the company earned from its customers in the year.
Profit
FY26
₹25.92 Cr
+41.1%on FY25What was left after every cost and tax was paid.
Market valuecalculated
₹2,044 Cr
What the whole company would be worth at GrowFast's indicative price.
Net worth
FY26
₹240 Cr
What the owners would have left on paper if every debt was repaid.
From the company's published figures; sources are beside each figure further down the page.
Key details
- Company
- Garuda Aerospace Limited
- ISIN
- INE0REL01021
- Sector
- Industrials & Engineering
- Type of share
- Unlisted equity share
- Indicative price per share
- ₹423.72
- Price last updated
- 12 Oct 2026
- Minimum quantity
- Confirmed by the desk
- How you hold it
- In your own demat account
- Enquiries
- GrowFast desk, on WhatsApp
Indicative prices, illiquid shares. Prices are indicative and can change without notice. Unlisted shares are illiquid: you may not be able to sell when you want to, or at the price shown.
Company
About Garuda Aerospace Limited
Garuda Aerospace is a Chennai-based drone company that makes drones for agriculture, industry and defence, sells drone-as-a-service work such as spraying, surveying and inspection, and trains remote pilots. It was incorporated in October 2015 and is controlled by founder Agnishwar Jayaprakash, who held about 77% of the equity shares at March 2026, with venture and individual investors holding the rest.
Written from: garudaaerospace.com, garudaaerospace.com
Listing status. Not listed. The 2025-26 annual report says an initial public offering is proposed and in progress, with IPO expenses deferred on the balance sheet; no public offer document was found on the company's site Annual report 2025-26
Financials
Ask for the full annual report.
The figures on this page are the headline numbers. The desk can share the latest annual report and anything published since.
Ask for the financials- Sector
- Industrials & Engineering
- ISIN
- INE0REL01021
- Year of incorporation
- 2015
- Promoters
- Agnishwar Jayaprakash (76.97% of equity shares), with Jayaprakash Vishnu and Rithika Mohan; promoters and promoter group together 85.52% of equity shares
- Key people
- Founder, CEO & Whole-time Director: Agnishwar Jayaprakash; Whole-time Director: Rithika Mohan; CFO: Sudharsan Ravichandran
- Face value per share
- ₹2
- Equity shares outstanding
- 4,82,46,430 shares
- Website
- garudaaerospace.com
Read from: Annual report 2025-26, unless another source is shown on a card.
Key data
What the numbers mean
The ratios buyers look at, each said in plain words.
Price to earnings (P/E)calculated
84.9×
At this price you pay ₹84.9 for every ₹1 of profit the company made in the year.
Price to book (P/B)calculated
8.52×
At this price you pay ₹8.52 for every ₹1 of net worth on the company's books.
Profit margincalculated
12.6%
Out of every ₹100 of sales, ₹12.6 was left as profit.
Return on equitycalculated
10.8%
For every ₹100 of the owners' money, the company made ₹10.8 of profit in the year.
Debt to equitycalculated
0.09×
The company has borrowed ₹0.09 for every ₹1 of its owners' money.
- Indicative price
- ₹423.72
- Market valuecalculated
- ₹2,044 Cr
- price × shares
- No. of shares
- 4,82,46,430
- EPS
- ₹4.99
- Book value per share
- ₹49.71
- Face value
- ₹2
Figures marked “calculated” are worked out by GrowFast from its indicative price and the company's published figures for FY2025-26. They move with the price, and they are arithmetic, not a valuation.
Figures in ₹ crore
Financials
Garuda Aerospace Limited (formerly Garuda Aerospace Private Limited). As published in the company's audited reports. GrowFast has not audited them.
Sales, year by year
₹ crore. The darkest bar is the latest year.
FY23 to FY26: ₹46.99 Cr to ₹206 Cr.
Profit, year by year
₹ crore, after tax. A bar below the line is a loss.
FY23 to FY26: ₹6.16 Cr to ₹25.92 Cr.
| Particulars | FY23 | FY24 | FY25 | FY26Latest |
|---|---|---|---|---|
| Turnover (Indian GAAP, board's report) | 46.99 | 109.95 | 123.46 | 205.96▲67% |
| Other income (Indian GAAP, board's report) | 0.06 | 0.82 | 1.35 | 0.27▼80% |
| Total income (Indian GAAP, board's report) | 47.05 | 110.76 | 124.81 | 206.22▲65% |
| Depreciation and amortisation | n/a | n/a | 3.6 | 4.08▲13% |
| Finance costs | n/a | n/a | 1.23 | 1.04▼15% |
| Profit before tax (Indian GAAP, board's report) | 8.41 | 21.31 | 25.41 | 34.06▲34% |
| Profit after tax (Indian GAAP, board's report) | 6.16 | 15.82 | 18.37 | 25.92▲41% |
| Earnings per share (basic) (₹) | n/a | n/a | 3.67 | 4.99▲36% |
Rupees crore unless marked, standalone. The change shown is the latest year against the year before. Read from: Annual report 2025-26, Annual report 2023-24.
Ownership
Shareholding pattern
Who owns the company
76.9%Promoters and promoter group
- Largest holder
- 76.9%
- Top 3 together
- 97.3%
- Holders named
- 5
- Promoters and promoter group76.91%
- Individuals12.83%
- Private bodies corporate7.51%
- Institutional investors2.25%
- Others (including NRI, trust and HUF)0.50%
- Total100.00%
Read from: Annual report 2025-26
Capital history
Fund raise history
| Date and detail | Type | Instrument | Price per share | Amount raised |
|---|---|---|---|---|
| 2026-09Board approved on 17 August 2026, for shareholder approval at the 18 September 2026 AGM, an issue of 9,94,498 equity shares of Rs 2 at a premium of Rs 573.18 to five investors, the largest being AVCF1 LP (about Rs 50 crore). Completion was not confirmed. | Private placement (proposed) | Equity shares | ₹575.18 | ₹57 Cr |
| 12 Mar 2026Bonus of 85 shares for every one held: 95,37,085 equity shares and 7,68,825 CCPS allotted, followed by a split of each Rs 10 share into five Rs 2 shares approved on 19 March 2026. | Bonus issue | Equity shares and CCPS | Not stated | Not stated |
| 16 Aug 2025525 equity shares (pre-bonus, Rs 10 face value) allotted for a total of Rs 9,38,47,950. | Private placement | Equity shares | Not stated | ₹9 Cr |
| 13 Jun 202585 CCDs allotted for Rs 1,49,03,475; all CCDs were converted to equity one-for-one on 16 February 2026. | Private placement | Compulsorily convertible debentures | Not stated | ₹1 Cr |
| 20 May 2025283 CCDs allotted for Rs 4,96,19,805. | Private placement | Compulsorily convertible debentures | Not stated | ₹5 Cr |
| 5 May 20251,025 equity shares (pre-bonus) allotted for a total consideration stated as Rs 2,09,39,796.75. | Private placement | Equity shares | Not stated | ₹2 Cr |
| 28 Apr 20251,427 CCDs allotted for Rs 25,02,03,045. | Private placement | Compulsorily convertible debentures | Not stated | ₹25 Cr |
Read from: Annual report 2025-26
Leadership
Management
Agnishwar Jayaprakash
Whole-time Director (Founder and Chief Executive Officer)
Rithika Mohan
Whole-time Director
Sudharsan Ravichandran
Chief Financial Officer
Ravichandran Harisha
Company Secretary and Compliance Officer
Vishnu Jayaprakash
Non-Executive Director
Maya Swaminathan Sinha
Independent Director
Natarajan Tirupattur Srinivasan
Independent Director
Krishnasamy Rajagopalan Sathiyanarayanan
Independent Director
Read from: Company website, board of directors, Annual report 2025-26
Corporate calendar
Events
- 18 Sept 2026AGM11th annual general meeting, with resolutions to change the statutory auditor and approve a Rs 57.2 crore private placementOpen
- 19 Mar 2026Stock splitShareholders approved splitting each Rs 10 equity share and CCPS into five of Rs 2Open
- 12 Mar 2026Bonus issueBonus shares allotted in the ratio of 85 for 1 after approval at the EGM of 11 March 2026Open
- 16 Feb 2026Board outcomeAll 1,996 compulsorily convertible debentures converted into equity; CFO and company secretary appointedOpen
- 5 Nov 2025Board changeRithika Mohan appointed whole-time director and Vishnu Jayaprakash joined the board; both classified as promotersOpen
Reports and filings
Annual reports and results
Each link opens the document where its publisher keeps it.
Before you buy
Six things to check on any unlisted share.
The same list applies to every stock. None of it is advice on this one.
The company's latest financials
Revenue, profit and debt for the last three years, from its audited annual report. Ask the desk for the most recent set.
What the price implies
Compare the price per share with earnings and book value per share, and with listed companies in the same business.
Whether a listing is planned
A company may file for an IPO, delay it or never list. A listing, its timing and its price are never certain.
How you would sell
There is no exchange for these shares. You sell by finding a buyer, which can take time and may be at a lower price.
Lock-in after a listing
Shares bought before an IPO are usually locked in for a period after the company lists. Confirm the current rule before you buy.
Tax on your gains
Unlisted shares are taxed differently from listed ones. Check your position with a tax adviser.
Questions
What buyers ask about this stock.
Not answered here? Ask the desk.
Inquire about Garuda Aerospace Limited on WhatsAppIs the price shown for Garuda Aerospace Limited final?
No. It is an indicative price per share. The desk confirms the price and the quantity available when you inquire, and the confirmed price is the one you deal at.
How do I buy these shares?
Press Inquire. It opens a WhatsApp chat with the desk, with this stock already named. After the price and quantity are agreed, a 10% advance locks the deal. Once your KYC is complete you pay the balance, and the shares are transferred to your demat account.
Do I pay anything on this website?
No. No payment is taken and no order is placed on this site. Payment details are shared by the desk only after the deal is agreed.
What do I need before I can buy?
A demat account in your name and the documents for KYC: your identity and demat account details are verified before any deal, as the regulations require.
Can I sell my Garuda Aerospace Limited shares to GrowFast?
GrowFast buys as well as sells. Press Inquire and tell the desk how many shares you hold; it will come back with what it can offer.
How do I sell Garuda Aerospace Limited shares I already hold?
Tell the desk how many you hold. If a price is agreed, you transfer the shares from your demat account with a delivery instruction to your depository participant (a DIS, or its online equivalent), and payment follows as agreed with the desk.
Is there a lock-in if the company lists?
Shares held before an IPO are generally locked in for a period after the listing under SEBI's rules, which have changed over time. Ask the desk for the rule that applies today before you buy.
Is buying unlisted shares legal in India?
Yes. Shares of an unlisted company can be bought and sold privately and are transferred between demat accounts. They are not traded on a stock exchange, so the protections of an exchange do not apply.
What is the minimum I can buy?
It differs by stock and by what the desk holds at the time. The desk confirms the minimum quantity when you inquire.
What is an ISIN?
The 12-character code that identifies a security. It is how your depository knows exactly which share is being transferred to your demat account.
Why are unlisted shares riskier than listed ones?
Prices are indicative and can change without notice. Unlisted shares are illiquid: you may not be able to sell when you want to, or at the price shown.
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Risk disclosure
Prices on this site are indicative, quoted per share, and are not an offer to buy or sell. The price and quantity for any deal are confirmed by GrowFast's desk at the time you deal.
Unlisted, pre-IPO and delisted shares are not traded on a stock exchange. They are illiquid, their prices can move sharply, and you may be unable to sell them when you wish or at all. A company that is expected to list may not do so.
Nothing on this site is investment advice or a promise of returns. Past prices do not predict future prices. Consider your own circumstances, and take independent advice, before you invest.
Inquire opens a WhatsApp chat with GrowFast. No payment is taken and no order is placed on this site.
GrowFast is not affiliated with, sponsored by or endorsed by Garuda Aerospace Limited. Its name and logo belong to their owner and are shown only to identify the company. Figures about it come from published sources and have not been audited by GrowFast. See the Terms and Conditions.