IPO-Bound Garuda Aerospace’s FY26 Profit Jumps 41% To ₹25.9 Cr

Chennai-based drone technology startup Garuda Aerospace announced a remarkable 41% increase in net profit to ₹25.9 crore for the fiscal year 2026 (FY26), up from ₹18.4 crore in the previous fiscal year. The company's operating profitability, measured by EBITA, also saw a significant jump of 31.8% to ₹35.1 crore in FY26, compared to ₹26.6 crore in FY25.

Meanwhile, the company's operating revenue surged by 66.8% year-over-year to ₹206 crore, driven by a substantial ₹99.4 crore from sales of drones and drone parts, as well as ₹106.5 crore from service sales and ₹15 lakh from delivery charges.

Garuda Aerospace's founder and CEO, Agnishwar Jayaprakash, expressed the company's commitment to strengthening manufacturing capabilities, expanding Drone-as-a-Service operations, investing in indigenous research and development, and forming strategic partnerships across India and international markets. The impressive financial performance appears to be a direct result of the company's strategic efforts and preparations to go public.

Garuda Aerospace is set to launch its Initial Public Offering (IPO) through a confidential pre-filing process with the Securities and Exchange Board of India (SEBI) in April, which was subsequently approved in August. The IPO is expected to raise up to ₹750 crore, with the OFS component potentially leading to investors offloading shares worth up to ₹250 crore.

The startup has also approved a private placement of equity shares worth ₹57.2 crore, which will be utilized for business growth, working capital requirements, and loan repayments.

The company boasts of being India's largest drone manufacturer, having produced and sold over 3,000 drones. Garuda Aerospace has also established partnerships with three defense Public Sector Undertakings (PSUs) and has secured over $37 million in funding from various investors, including Venture Catalysts, We Founder Circle, and cricketer Mahendra Singh Dhoni. The startup was last valued at $250 million following a $11 million Series B funding round led by Venture Catalysts.