Garuda Construction and Engineering Limited IPO: Essential Insights

IPO Details

Opening Date
Close Date
Allotment Date
Listing Date
Face Value
Issue Price
Market Lot
Total Issue Size

How to Analyze an IPO: A Comprehensive Guide for Investors

Overview

Garuda Construction and Engineering Limited is launching its highly anticipated Initial Public Offering (IPO), offering up to 2,78,00,000 equity shares at a face value of ₹5 each. This includes a Fresh Issue of up to 1,83,00,000 equity shares and an Offer for Sale of up to 95,00,000 equity shares by the promoter, PKH Ventures Limited. The IPO aims to raise capital for the company’s ongoing expansion plans, strengthen its financial position, and tap into India’s growing infrastructure development market.

Founded in 2010, Garuda Construction and Engineering Limited has evolved into a major player in the Indian construction sector. The company specializes in civil construction, engineering, and infrastructure projects, catering to both government and private sector clients. Their portfolio includes large-scale projects like highways, bridges, residential buildings, and commercial complexes. They have a proven track record of timely delivery, quality execution, and adherence to safety standards.

The IPO follows the Book Building Process and will be listed on both BSE and NSE. Retail investors, Qualified Institutional Buyers (QIBs), and Non-Institutional Investors (NIIs) can participate in the IPO. The price band and minimum bid lot for the IPO will be announced two days before the offer opening date.

Garuda’s promoters include Pravinkumar Brijendra Kumar Agarwal, PKH Ventures Limited, and Makindian Township Private Limited, all of whom have significant industry expertise and resources. With India’s booming infrastructure sector, this IPO presents a strong investment opportunity for both retail and institutional investors looking for long-term growth.

Key dates to note: The IPO opens for bidding on October 8, 2024, and closes on October 10, 2024.

Investors are encouraged to review the Red Herring Prospectus carefully and consider the associated risks before making an investment decision.

Company Financial

Restated Summary Statement of Assets and Liabilities

Hyundai Motor India Limited - Restated Consolidated Statement of Assets and Liabilities	As at June 30, 2024	As at June 30, 2023	As at March 31, 2024	As at March 31, 2023	As at March 31, 2022
Assets
Non-current assets
Property, plant and equipment	63,786.92	64,386.51	67,135.59	57,656.36	62,290.52
Capital work-in-progress	9,721.25	7,081.22	6,528.42	13,366.35	5,291.25
Right-of-use assets	6,134.07	560.8	6,183.42	577.65	662.96
Intangible assets	2,612.91	3,059.09	2,825.26	3,270.32	3,758.62
Other financial assets	629.21	546.31	624.12	516.97	493.98
Deferred tax assets (net)	9,896.71	8,755.07	9,477.90	8,265.99	6,156.74
Non-current tax assets (net)	7,012.78	6,212.66	6,886.39	6,146.71	2,081.53
Other non-current assets	3,031.11	2,215.73	2,590.92	2,313.36	2,046.57
Total non-current assets	1,02,824.96	92,817.39	1,02,252.02	92,113.71	82,782.17
Current assets
Inventories	28,882.93	35,943.73	33,156.29	34,224.09	28,811.20
Trade receivables	23,581.40	26,434.06	25,100.26	28,971.92	21,824.07
Cash and cash equivalents	45,042.88	64,630.48	9,732.15	1,77,411.47	1,41,388.42
Bank balance other than above	40,084.95	1,28,065.91	80,441.30	-	-
Loans	-	-	-	659.48	154.94
Other financial assets	3,718.15	3,003.44	3,439.24	4,539.58	3,005.15
Other current assets	9,567.12	6,153.82	9,371.19	7,813.17	5,614.63
Total current assets	1,50,877.43	2,64,231.44	1,61,240.43	2,53,619.71	2,00,798.41
Total assets	2,53,702.39	3,57,048.83	2,63,492.45	3,45,733.42	2,83,580.58
Equity and Liabilities
Equity
Equity share capital	8,125.41	8,125.41	8,125.41	8,125.41	8,125.41
Reserves and surplus	1,13,361.69	2,05,682.88	98,531.16	1,92,422.77	1,60,437.14
Total equity	1,21,487.10	2,13,808.29	1,06,656.57	2,00,548.18	1,68,562.55
Non-current liabilities
Borrowings	6,016.98	6,862.07	6,227.97	7,065.66	7,667.10
Lease liabilities	533.54	259.3	557.68	267.23	307.47
Provisions	8,671.35	8,270.03	8,467.39	8,037.65	7,743.02
Other non-current liabilities	11,968.21	10,119.09	11,610.97	9,759.55	7,378.07
Total non-current liabilities	27,190.08	25,510.49	26,864.01	25,130.09	23,095.66
Current liabilities
Borrowings	1,564.46	5,968.92	1,451.18	4,520.34	3,733.23
Lease liabilities	96.62	34.25	95.58	40.24	68.95
Total outstanding dues of micro enterprises and small enterprises	1,831.52	2,072.11	2,158.18	1,536.92	1,274.98
Total outstanding dues of creditors other than micro enterprises and small enterprises	72,963.46	72,772.39	72,871.39	52,779.30
Other financial liabilities	6,031.06	8,809.48	5,759.74	8,067.47	4,263.43
Other current liabilities	15,466.82	17,948.80	39,327.93	25,342.17	23,789.21
Provisions	4,580.67	4,393.04	4,528.20	4,539.05	4,027.33
Current tax liabilities (net)	6,735.79	5,539.99	3,878.67	3,137.57	1,985.94
Total current liabilities	1,05,025.21	1,17,730.05	1,29,971.87	1,20,055.15	91,922.37
Total liabilities	1,32,215.29	1,43,240.54	1,56,835.88	1,45,185.24	1,15,018.03
Total equity and liabilities	2,53,702.39	3,57,048.83	2,63,492.45	3,45,733.42	2,83,580.58

Statement of Profit and Loss

Hyundai Motor India Limited - Restated Consolidated Statement of Profit and Loss (including other comprehensive income)	For the period ended June 30, 2024	For the period ended June 30, 2023	For the year ended March 31, 2024	For the year ended March 31, 2023	For the year ended March 31, 2022
Income
Revenue from operations	1,73,442.34	1,66,235.11	6,98,290.57	6,03,075.80	4,73,784.32
Other income	2,237.50	3,881.00	14,732.68	11,290.62	5,876.16
Total income	1,75,679.84	1,70,116.11	7,13,023.25	6,14,366.42	4,79,660.48
Expenses
Cost of materials consumed	1,17,638.35	1,18,640.95	5,12,979.91	4,45,086.35	3,52,308.08
Purchases of stock-in-trade	1,801.24	816.14	4,334.27	6,564.16	6,564.05
Changes in inventories of finished goods, work-in-progress, and stock-in-trade	5,337.45	6,557.53	-1,384.74	-1,351.21	-621.2
Employee benefits expense	5,527.69	4,794.67	19,754.88	17,662.26	16,476.38
Finance costs	316.4	371.86	1,580.79	1,424.01	1,319.13
Depreciation and amortisation expense	5,289.81	5,596.90	22,079.31	21,898.66	21,695.86
Other expenses	19,868.85	15,555.02	71,820.52	60,098.70	44,397.74
Cost of materials consumed for own use	-133.78	-101.75	-540.43	-472.26	-201.61
Total expenses	1,55,646.01	1,52,231.32	6,30,624.51	5,50,910.67	4,41,938.42
Profit before tax	20,033.83	17,884.79	82,398.74	63,455.75	37,722.06
Tax expense
Current tax	5,533.93	5,071.33	22,965.26	18,414.53	10,377.87
Deferred tax (net)	-396.62	-478.4	-1,166.96	-2,051.28	-1,671.72
Total tax expense	5,137.31	4,592.93	21,798.30	16,363.25	8,706.15
Profit for the period / year	14,896.52	13,291.86	60,600.44	47,092.50	29,015.91
Other comprehensive income ('OCI') for the period / year
Remeasurements of net defined benefit liability / (asset)	-88.18	-42.43	-178.57	-230.33	36.11
Income tax relating to items that will not be reclassified to profit or loss	22.19	10.68	44.95	57.97	-9.09
Total other comprehensive income / (loss)	-65.99	-31.75	-133.62	-172.36	27.02
Total comprehensive income for the period / year	14,830.53	13,260.11	60,466.82	46,920.14	29,042.93

Board of Directors of Company

Board of Directors for Garuda Construction and Engineering Limited

1. Pravinkumar Brijendra Kumar Agarwal
Managing Director and Chairman
DIN: 00845482

2. Mohit Kapoor
Whole Time Director
DIN: 10301044

3. Deepak Kumar
Non-Executive Director
DIN: 09292428

4. Priyanka Yadav
Independent Director
DIN: 08858855

5. Rajvirendra Singh Rajpurohi
Independent Director
DIN: 06770931

6. Venkateshkumar K Tirupatipanyam
Independent Director
DIN: 06770931【15:0†source】.

Company contact Details

Company Name: Garuda Construction and Engineering Limited
Corporate Identity Number (CIN): U45400MH2010PLC207963
Registered Office Address:
201, A Wing, Fortune 2000 C-3 Block,
Bandra Kurla Complex,
Bandra (East), Mumbai 400 051,
Maharashtra, India

Email: compliance@garudaconstructionengineering.com
Website: www.garudaconstructionengineering.com