.png "Garuda Aerospace profit rose to Rs 17.5 crore in FY25 with revenue at Rs 118 crore. The drone maker plans IPO, global expansion, and higher production to 15000 drones annually.")
Garuda Aerospace profit rose to Rs 17.5 crore in FY25 with revenue at Rs 118 crore. The drone maker plans IPO, global expansion, and higher production to 15000 drones annually.
I am Aadi, an MBA in marketing and finance who has worked closely with early stage startups and investors. My focus is on financial performance, market expansion, and IPO strategies. This article breaks down how Garuda Aerospace is balancing profitability, scaling, and international growth in the drone industry.
Summary:
Garuda Aerospace closed FY25 with stronger profits, rising revenues, and a clear roadmap for IPO and exports. If you are tracking the drone sector or planning your next investment, this story highlights what really matters behind the numbers.
1. Profit after tax in FY25 touched 17.5 crore compared to 16 crore last year.
2. Revenue from operations climbed 7.3 percent to 118 crore from 110 crore in FY24.
3. Total income including other sources hit 125 crore while expenses grew 13 percent to 100.5 crore.
4. The company is expanding manufacturing capacity from 8000 drones to 12000–15000 annually with export plans for 50 countries.
5. Garuda Aerospace is preparing for an IPO with a target valuation of more than 4000 crore after a Series B fundraise of 100 crore in April 2025.
Garuda Aerospace has ended FY25 on a profitable note with a post tax profit of 17.5 crore, marking a 9.4 percent increase from 16 crore a year earlier. Revenue from operations rose to 118 crore, up 7.3 percent from 110 crore in FY24. Including 7 crore from other income, total income for the year stood at 125 crore.
The company’s expense line also grew, reaching 100.5 crore, a 13 percent jump driven mostly by higher material costs. At the same time, employee expenses declined and finance costs were cut in half, helping preserve margins. Garuda maintained an EBITDA margin of 22.4 percent and recorded a return on capital employed of 14.37 percent, underlining financial discipline.
Beyond the numbers, Garuda Aerospace is scaling its operations aggressively. It runs a fleet of 400 drones with 500 trained pilots across 84 cities. The company is ramping up production capacity from 8000 drones annually to between 12000 and 15000 to meet both domestic demand and international opportunities. By the end of the year, it expects to export drones to as many as 50 countries.
Garuda has built a strong client base that includes Tata, Adani, L and T, Flipkart, Swiggy, defence agencies, and several government departments. Agriculture continues to be its largest revenue driver with the company holding about 55 percent share of the agri drone market in India. With farming automation gaining momentum, this segment offers steady growth.
The financial stability of FY25 is also laying the ground for bigger ambitions. In April 2025, Garuda Aerospace secured 100 crore in a Series B round that valued the startup at about 250 million dollars or roughly 2185 crore. Now the company is working on an IPO, aiming for a market capitalization of more than 4000 crore after listing.
The combination of steady profitability, growing global presence, and a strong customer portfolio makes Garuda Aerospace a significant player to watch in the Indian drone ecosystem. For investors, the IPO could be one of the more interesting public offerings in the tech hardware space in the coming year.
Five Do and Dont for Entrepreneurs and Investors:
1. Do focus on profitability early rather than chasing revenue without margins.
2. Do diversify your customer base across industries like Garuda has with agriculture, e commerce, and defence.
3. Do plan for manufacturing scalability before demand peaks to avoid bottlenecks.
4. Dont underestimate the cost side of the business, material costs can rise faster than revenue.
5. Dont rush into public markets without showing sustainable cash flows and strong capital efficiency.