Reported Earnings • May 31
Full year 2026 earnings released: EPS: ₹28.39 (vs ₹5.33 in FY 2025) Full year 2026 results: EPS: ₹28.39 (up from ₹5.33 in FY 2025). Revenue: ₹863.3m (up 437% from FY 2025). Net income: ₹394.8m (up 433% from FY 2025). Profit margin: 46% (in line with FY 2025). Over the last 3 years on average, earnings per share has increased by 93% per year but the company’s share price has only increased by 85% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • May 26
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to ₹91.33, the stock trades at a trailing P/E ratio of 3.5x. Average trailing P/E is 25x in the Real Estate industry in India. Total returns to shareholders of 512% over the past three years. Announcement • May 21
Garnet Construction Limited to Report Fiscal Year 2026 Results on May 30, 2026 Garnet Construction Limited announced that they will report fiscal year 2026 results at 12:15 PM, Indian Standard Time on May 30, 2026 New Risk • May 04
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Indian stocks, typically moving 10% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risk Share price has been highly volatile over the past 3 months (10% average weekly change). Minor Risk Market cap is less than US$100m (₹1.20b market cap, or US$12.6m). Valuation Update With 7 Day Price Move • Feb 24
Investor sentiment deteriorates as stock falls 15% After last week's 15% share price decline to ₹92.93, the stock trades at a trailing P/E ratio of 3.6x. Average trailing P/E is 27x in the Real Estate industry in India. Total returns to shareholders of 588% over the past three years. Reported Earnings • Feb 15
Third quarter 2026 earnings released: EPS: ₹7.20 (vs ₹0.33 loss in 3Q 2025) Third quarter 2026 results: EPS: ₹7.20 (up from ₹0.33 loss in 3Q 2025). Revenue: ₹158.3m (up ₹149.6m from 3Q 2025). Net income: ₹100.1m (up ₹104.7m from 3Q 2025). Profit margin: 63% (up from net loss in 3Q 2025). The move to profitability was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 95% per year but the company’s share price has only increased by 88% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Feb 06
Investor sentiment improves as stock rises 23% After last week's 23% share price gain to ₹84.11, the stock trades at a trailing P/E ratio of 4.5x. Average trailing P/E is 25x in the Real Estate industry in India. Total returns to shareholders of 452% over the past three years. Announcement • Feb 04
Garnet Construction Limited to Report Q3, 2026 Results on Feb 14, 2026 Garnet Construction Limited announced that they will report Q3, 2026 results at 12:15 PM, Indian Standard Time on Feb 14, 2026 Valuation Update With 7 Day Price Move • Dec 31
Investor sentiment improves as stock rises 21% After last week's 21% share price gain to ₹68.23, the stock trades at a trailing P/E ratio of 3.7x. Average trailing P/E is 28x in the Real Estate industry in India. Total returns to shareholders of 273% over the past three years. Buy Or Sell Opportunity • Dec 18
Now 20% undervalued Over the last 90 days, the stock has risen 26% to ₹62.08. The fair value is estimated to be ₹77.85, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 83% over the last 3 years. Earnings per share has grown by 91%. New Risk • Dec 16
New major risk - Market cap size The company's market capitalization is less than US$10m. Market cap: ₹908.2m (US$9.99m) This is considered a major risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risks High level of non-cash earnings (21% accrual ratio). Market cap is less than US$10m (₹908.2m market cap, or US$9.99m). Minor Risk Share price has been volatile over the past 3 months (8.5% average weekly change). Reported Earnings • Nov 16
Second quarter 2026 earnings released Second quarter 2026 results: EPS: ₹4.70. Revenue: ₹163.1m (up ₹155.2m from 2Q 2025). Net income: ₹65.3m (up ₹74.1m from 2Q 2025). Profit margin: 40% (up from net loss in 2Q 2025). The move to profitability was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 92% per year but the company’s share price has only increased by 55% per year, which means it is significantly lagging earnings growth. Announcement • Nov 04
Garnet Construction Limited to Report Q2, 2026 Results on Nov 14, 2025 Garnet Construction Limited announced that they will report Q2, 2026 results on Nov 14, 2025 Valuation Update With 7 Day Price Move • Oct 14
Investor sentiment improves as stock rises 20% After last week's 20% share price gain to ₹58.34, the stock trades at a trailing P/E ratio of 4.4x. Average trailing P/E is 36x in the Real Estate industry in India. Total returns to shareholders of 188% over the past three years. Announcement • Sep 09
Garnet Construction Limited, Annual General Meeting, Sep 30, 2025 Garnet Construction Limited, Annual General Meeting, Sep 30, 2025, at 10:00 Indian Standard Time. Valuation Update With 7 Day Price Move • Aug 21
Investor sentiment improves as stock rises 21% After last week's 21% share price gain to ₹47.09, the stock trades at a trailing P/E ratio of 3.6x. Average trailing P/E is 35x in the Real Estate industry in India. Total returns to shareholders of 119% over the past three years. Reported Earnings • Aug 16
First quarter 2026 earnings released: EPS: ₹13.10 (vs ₹5.21 in 1Q 2025) First quarter 2026 results: EPS: ₹13.10 (up from ₹5.21 in 1Q 2025). Revenue: ₹404.3m (up 166% from 1Q 2025). Net income: ₹182.1m (up 151% from 1Q 2025). Profit margin: 45% (down from 48% in 1Q 2025). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 87% per year but the company’s share price has only increased by 22% per year, which means it is significantly lagging earnings growth. Announcement • Aug 06
Garnet Construction Limited to Report Q1, 2026 Results on Aug 14, 2025 Garnet Construction Limited announced that they will report Q1, 2026 results on Aug 14, 2025 New Risk • Jul 21
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Indian stocks, typically moving 6.9% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risks Earnings have declined by 17% per year over the past 5 years. Market cap is less than US$10m (₹506.0m market cap, or US$5.86m). Minor Risks Share price has been volatile over the past 3 months (6.9% average weekly change). Revenue is less than US$5m (₹161m revenue, or US$1.9m). Valuation Update With 7 Day Price Move • Jul 04
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to ₹34.02, the stock trades at a trailing P/E ratio of 6.4x. Average trailing P/E is 35x in the Real Estate industry in India. Total returns to shareholders of 60% over the past three years. Reported Earnings • Jun 02
Full year 2025 earnings released: EPS: ₹5.31 (vs ₹2.12 in FY 2024) Full year 2025 results: EPS: ₹5.31 (up from ₹2.12 in FY 2024). Revenue: ₹194.1m (up 74% from FY 2024). Net income: ₹74.1m (up 152% from FY 2024). Profit margin: 38% (up from 26% in FY 2024). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 80% per year but the company’s share price has only increased by 2% per year, which means it is significantly lagging earnings growth. Announcement • May 21
Garnet Construction Limited to Report Fiscal Year 2025 Results on May 30, 2025 Garnet Construction Limited announced that they will report fiscal year 2025 results on May 30, 2025 Valuation Update With 7 Day Price Move • Mar 07
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to ₹26.08, the stock trades at a trailing P/E ratio of 5.9x. Average trailing P/E is 32x in the Real Estate industry in India. Negligible returns to shareholders over past three years. Valuation Update With 7 Day Price Move • Feb 21
Investor sentiment deteriorates as stock falls 21% After last week's 21% share price decline to ₹23.30, the stock trades at a trailing P/E ratio of 5.2x. Average trailing P/E is 33x in the Real Estate industry in India. Total loss to shareholders of 14% over the past three years. Reported Earnings • Feb 15
Third quarter 2025 earnings released: ₹0.33 loss per share (vs ₹0.098 profit in 3Q 2024) Third quarter 2025 results: ₹0.33 loss per share (down from ₹0.098 profit in 3Q 2024). Revenue: ₹8.87m (down 82% from 3Q 2024). Net loss: ₹4.57m (down 437% from profit in 3Q 2024). Over the last 3 years on average, earnings per share has increased by 119% per year but the company’s share price has only increased by 4% per year, which means it is significantly lagging earnings growth. Announcement • Feb 04
Garnet Construction Limited to Report Q3, 2025 Results on Feb 14, 2025 Garnet Construction Limited announced that they will report Q3, 2025 results on Feb 14, 2025 Valuation Update With 7 Day Price Move • Jan 06
Investor sentiment deteriorates as stock falls 17% After last week's 17% share price decline to ₹31.05, the stock trades at a trailing P/E ratio of 6.5x. Average trailing P/E is 36x in the Real Estate industry in India. Total returns to shareholders of 2.5% over the past three years. Reported Earnings • Nov 16
Second quarter 2025 earnings released: ₹0.064 loss per share (vs ₹2.40 profit in 2Q 2024) Second quarter 2025 results: ₹0.064 loss per share (down from ₹2.40 profit in 2Q 2024). Revenue: ₹8.02m (down 30% from 2Q 2024). Net loss: ₹8.74m (down 126% from profit in 2Q 2024). Over the last 3 years on average, earnings per share has increased by 126% per year but the company’s share price has only increased by 26% per year, which means it is significantly lagging earnings growth. Announcement • Nov 09
Garnet Construction Limited to Report Q2, 2025 Results on Nov 14, 2024 Garnet Construction Limited announced that they will report Q2, 2025 results on Nov 14, 2024 Valuation Update With 7 Day Price Move • Nov 01
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to ₹47.20, the stock trades at a trailing P/E ratio of 6x. Average trailing P/E is 29x in the Real Estate industry in India. Total returns to shareholders of 112% over the past three years. Announcement • Sep 16
Garnet Construction Limited, Annual General Meeting, Sep 30, 2024 Garnet Construction Limited, Annual General Meeting, Sep 30, 2024, at 11:00 Indian Standard Time. Valuation Update With 7 Day Price Move • Aug 23
Investor sentiment improves as stock rises 36% After last week's 36% share price gain to ₹41.03, the stock trades at a trailing P/E ratio of 5.3x. Average trailing P/E is 30x in the Real Estate industry in India. Total returns to shareholders of 78% over the past three years. New Risk • Aug 16
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Indian stocks, typically moving 8.6% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risks Earnings have declined by 23% per year over the past 5 years. Market cap is less than US$10m (₹418.3m market cap, or US$4.98m). Minor Risks Share price has been volatile over the past 3 months (8.6% average weekly change). Profit margins are more than 30% lower than last year (42% net profit margin). Revenue is less than US$5m (₹260m revenue, or US$3.1m). New Risk • Aug 15
New minor risk - Profit margin trend The company's profit margins are lower than last year and have reduced by more than 30%. Net profit margin: 42% Last year net profit margin: 93% This is considered a minor risk. A large drop in profit margin could indicate the company does not have strong competitive advantages or it is yet to establish itself and its core business. Even if it is a well established business, this may make it a much riskier investment than one that has a combination of proven competitive advantages and a stable or growing profit margin. Currently, the following risks have been identified for the company: Major Risks Earnings have declined by 23% per year over the past 5 years. Market cap is less than US$10m (₹348.7m market cap, or US$4.15m). Minor Risks Profit margins are more than 30% lower than last year (42% net profit margin). Revenue is less than US$5m (₹260m revenue, or US$3.1m). Reported Earnings • Aug 15
First quarter 2025 earnings released: EPS: ₹5.21 (vs ₹0.96 in 1Q 2024) First quarter 2025 results: EPS: ₹5.21 (up from ₹0.96 in 1Q 2024). Revenue: ₹151.9m (up ₹144.5m from 1Q 2024). Net income: ₹72.5m (up 443% from 1Q 2024). Profit margin: 48% (down from 179% in 1Q 2024). Over the last 3 years on average, earnings per share has increased by 125% per year but the company’s share price has only increased by 1% per year, which means it is significantly lagging earnings growth. Announcement • Aug 04
Garnet Construction Limited to Report Q1, 2025 Results on Aug 14, 2024 Garnet Construction Limited announced that they will report Q1, 2025 results on Aug 14, 2024 Reported Earnings • Jun 04
Full year 2024 earnings released: EPS: ₹2.11 (vs ₹0.21 in FY 2023) Full year 2024 results: EPS: ₹2.11 (up from ₹0.21 in FY 2023). Revenue: ₹181.9m (up ₹161.4m from FY 2023). Net income: ₹29.4m (up ₹26.5m from FY 2023). Profit margin: 16% (up from 14% in FY 2023). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 57% per year but the company’s share price has fallen by 4% per year, which means it is significantly lagging earnings. New Risk • May 28
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended September 2023. This is considered a minor risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. Currently, the following risks have been identified for the company: Major Risks Earnings have declined by 30% per year over the past 5 years. Revenue is less than US$1m (₹27m revenue, or US$328k). Market cap is less than US$10m (₹364.5m market cap, or US$4.38m). Minor Risk Latest financial reports are more than 6 months old (reported September 2023 fiscal period end). Announcement • May 23
Garnet Construction Limited to Report Fiscal Year 2024 Results on May 30, 2024 Garnet Construction Limited announced that they will report fiscal year 2024 results on May 30, 2024 Announcement • Feb 02
Garnet Construction Limited to Report Q3, 2024 Results on Feb 14, 2024 Garnet Construction Limited announced that they will report Q3, 2024 results on Feb 14, 2024 Valuation Update With 7 Day Price Move • Dec 19
Investor sentiment improves as stock rises 22% After last week's 22% share price gain to ₹23.11, the stock trades at a trailing P/E ratio of 7.7x. Average trailing P/E is 28x in the Real Estate industry in India. Total returns to shareholders of 20% over the past three years. Valuation Update With 7 Day Price Move • Nov 17
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to ₹18.11, the stock trades at a trailing P/E ratio of 6.1x. Average trailing P/E is 24x in the Real Estate industry in India. Total returns to shareholders of 4.4% over the past three years. Reported Earnings • Nov 15
Second quarter 2024 earnings released: EPS: ₹2.40 (vs ₹0.36 loss in 2Q 2023) Second quarter 2024 results: EPS: ₹2.40 (up from ₹0.36 loss in 2Q 2023). Revenue: ₹58.2m (up ₹53.1m from 2Q 2023). Net income: ₹33.4m (up ₹38.4m from 2Q 2023). Profit margin: 57% (up from net loss in 2Q 2023). The move to profitability was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 47% per year but the company’s share price has increased by 2% per year, which means it is well ahead of earnings. Announcement • Nov 04
Garnet Construction Limited to Report Q2, 2024 Results on Nov 10, 2023 Garnet Construction Limited announced that they will report Q2, 2024 results on Nov 10, 2023 Reported Earnings • Sep 14
Full year 2023 earnings released: EPS: ₹0.21 (vs ₹0.17 in FY 2022) Full year 2023 results: EPS: ₹0.21 (up from ₹0.17 in FY 2022). Revenue: ₹20.5m (down 63% from FY 2022). Net income: ₹2.92m (up 23% from FY 2022). Profit margin: 14% (up from 4.3% in FY 2022). The increase in margin was driven by lower expenses. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 84 percentage points per year, which is a significant difference in performance. Announcement • Sep 06
Garnet Construction Limited, Annual General Meeting, Sep 30, 2023 Garnet Construction Limited, Annual General Meeting, Sep 30, 2023, at 11:00 Indian Standard Time. Agenda: To receive, consider and adopt the Audited Balance Sheet as at March 31,2023, the statement of Profit and Loss for the year ended on that date together with the Directors and Auditors thereon; to appoint a director in place of Mr. Arun Kedia who retires by rotation and eligible offer himself for re appointment; and to discuss other related matters. Announcement • Aug 06
Garnet Construction Limited to Report Q1, 2024 Results on Aug 12, 2023 Garnet Construction Limited announced that they will report Q1, 2024 results on Aug 12, 2023 Buying Opportunity • May 16
Now 23% undervalued Over the last 90 days, the stock is up 8.2%. The fair value is estimated to be ₹20.04, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 54% over the last 3 years. Meanwhile, the company has become profitable. Valuation Update With 7 Day Price Move • May 08
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to ₹15.33, the stock trades at a trailing P/E ratio of 15.6x. Average trailing P/E is 24x in the Real Estate industry in India. Total returns to shareholders of 73% over the past three years. Announcement • May 06
Garnet Construction Limited to Report Fiscal Year 2023 Results on May 15, 2023 Garnet Construction Limited announced that they will report fiscal year 2023 results on May 15, 2023 Board Change • May 02
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 2 experienced directors. 4 highly experienced directors. Non Executive Independent Director Sirya Siddiqui was the last director to join the board, commencing their role in 2020. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Valuation Update With 7 Day Price Move • Apr 04
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to ₹11.95, the stock trades at a trailing P/E ratio of 12.2x. Average trailing P/E is 22x in the Real Estate industry in India. Total returns to shareholders of 6.2% over the past three years. Valuation Update With 7 Day Price Move • Mar 20
Investor sentiment deteriorates as stock falls 20% After last week's 20% share price decline to ₹11.25, the stock trades at a trailing P/E ratio of 11.5x. Average trailing P/E is 22x in the Real Estate industry in India. Total loss to shareholders of 6.3% over the past three years. Buying Opportunity • Feb 14
Now 24% undervalued after recent price drop Over the last 90 days, the stock is down 18%. The fair value is estimated to be ₹19.78, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 54% over the last 3 years. Meanwhile, the company has become profitable. Announcement • Feb 05
Garnet Construction Limited to Report Nine Months, 2023 Results on Feb 14, 2023 Garnet Construction Limited announced that they will report nine months, 2023 results on Feb 14, 2023 Buying Opportunity • Jan 20
Now 20% undervalued after recent price drop Over the last 90 days, the stock is down 12%. The fair value is estimated to be ₹21.67, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 54% over the last 3 years. Meanwhile, the company has become profitable. Buying Opportunity • Jan 03
Now 22% undervalued after recent price drop Over the last 90 days, the stock is down 12%. The fair value is estimated to be ₹23.64, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 54% over the last 3 years. Meanwhile, the company has become profitable. Valuation Update With 7 Day Price Move • Jan 02
Investor sentiment improved over the past week After last week's 19% share price gain to ₹19.30, the stock trades at a trailing P/E ratio of 19.7x. Average trailing P/E is 24x in the Real Estate industry in India. Total returns to shareholders of 159% over the past three years. Buying Opportunity • Dec 12
Now 21% undervalued after recent price drop Over the last 90 days, the stock is down 7.4%. The fair value is estimated to be ₹23.78, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 54% over the last 3 years. Meanwhile, the company has become profitable. Announcement • Nov 06
Garnet Construction Limited to Report Q2, 2023 Results on Nov 14, 2022 Garnet Construction Limited announced that they will report Q2, 2023 results on Nov 14, 2022 Reported Earnings • Sep 11
Full year 2022 earnings released: EPS: ₹0.17 (vs ₹9.10 in FY 2021) Full year 2022 results: EPS: ₹0.17 (down from ₹9.10 in FY 2021). Revenue: ₹55.7m (down 92% from FY 2021). Net income: ₹2.37m (down 98% from FY 2021). Profit margin: 4.3% (down from 19% in FY 2021). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has fallen by 44% per year but the company’s share price has increased by 39% per year, which means it is well ahead of earnings. Announcement • Sep 07
Garnet Construction Limited, Annual General Meeting, Sep 30, 2022 Garnet Construction Limited, Annual General Meeting, Sep 30, 2022, at 12:30 Indian Standard Time. Agenda: To consider and approve the audited balance sheet as at March 31, 2022, the statement of Profit and Loss for the year ended on that date together with the Directors and auditors Reports thereon; to consider and approve the appointment of a directors; to consider the reappointment of Poddar A. & Associate as the Statutory Auditors; and to consider the other matters. Announcement • Aug 07
Garnet Construction Limited to Report Q1, 2023 Results on Aug 13, 2022 Garnet Construction Limited announced that they will report Q1, 2023 results at 3:30 PM, Indian Standard Time on Aug 13, 2022 Announcement • Jul 25
Garnet Construction Limited Announces the Resignation of Falguni Ratilal Padiya as Chief Financial Officer Garnet Construction Limited at its Board Meeting held on August 1, 2022, to consider the resignation of Chief Financial Officer of the Company.CA Falguni Ratilal Padiya has resigned from the post of Chief Financial Officer of the company with effect from June 30, 2022. Announcement • May 12
Garnet Construction Limited to Report Fiscal Year 2022 Results on May 18, 2022 Garnet Construction Limited announced that they will report fiscal year 2022 results on May 18, 2022 Recent Insider Transactions • Mar 06
Executive Chairman & MD recently bought ₹231k worth of stock On the 4th of March, Kishan Kedia bought around 9k shares on-market at roughly ₹27.22 per share. In the last 3 months, they made an even bigger purchase worth ₹315k. Kishan has been a buyer over the last 12 months, purchasing a net total of ₹776k worth in shares. Recent Insider Transactions • Feb 17
Executive Chairman & MD recently bought ₹315k worth of stock On the 14th of February, Kishan Kedia bought around 12k shares on-market at roughly ₹26.46 per share. This was the largest purchase by an insider in the last 3 months. Kishan has been a buyer over the last 12 months, purchasing a net total of ₹544k worth in shares. Reported Earnings • Feb 05
Third quarter 2022 earnings: Revenues and EPS in line with analyst expectations Third quarter 2022 results: ₹0.40 loss per share (down from ₹0.75 profit in 3Q 2021). Net loss: ₹5.51m (down 153% from profit in 3Q 2021). Revenue was in line with analyst estimates. Over the last 3 years on average, earnings per share has fallen by 44% per year but the company’s share price has increased by 31% per year, which means it is well ahead of earnings. Recent Insider Transactions • Dec 05
Board Member recently bought ₹74k worth of stock On the 3rd of December, Arun Kedia bought around 3k shares on-market at roughly ₹24.58 per share. In the last 3 months, there was an even bigger purchase from another insider worth ₹115k. Insiders have collectively bought ₹781k more in shares than they have sold in the last 12 months. Reported Earnings • Nov 18
Second quarter 2022 earnings released: ₹0.81 loss per share (vs ₹1.51 profit in 2Q 2021) The company reported a poor second quarter result with weaker earnings, revenues and control over costs. Second quarter 2022 results: Revenue: ₹864.0k (down 99% from 2Q 2021). Net loss: ₹11.3m (down 154% from profit in 2Q 2021). Recent Insider Transactions • Aug 27
Executive Chairman & MD recently bought ₹116k worth of stock On the 26th of August, Kishan Kedia bought around 5k shares on-market at roughly ₹23.25 per share. This was the largest purchase by an insider in the last 3 months. This was Kishan's only on-market trade for the last 12 months. Valuation Update With 7 Day Price Move • Aug 10
Investor sentiment deteriorated over the past week After last week's 17% share price decline to ₹27.55, the stock trades at a trailing P/E ratio of 3x. Average trailing P/E is 28x in the Real Estate industry in India. Total returns to shareholders of 47% over the past three years. Reported Earnings • Jul 04
Full year 2021 earnings released: EPS ₹9.11 (vs ₹4.96 in FY 2020) The company reported a decent full year result with improved earnings and profit margins, although revenues were flat. Full year 2021 results: Revenue: ₹684.8m (flat on FY 2020). Net income: ₹126.5m (up 84% from FY 2020). Profit margin: 19% (up from 10.0% in FY 2020). Over the last 3 years on average, earnings per share has increased by 70% per year but the company’s share price has only increased by 25% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Jun 30
Investor sentiment improved over the past week After last week's 27% share price gain to ₹33.95, the stock trades at a trailing P/E ratio of 3.5x. Average trailing P/E is 27x in the Real Estate industry in India. Total returns to shareholders of 109% over the past three years. Valuation Update With 7 Day Price Move • May 26
Investor sentiment improved over the past week After last week's 21% share price gain to ₹24.65, the stock trades at a trailing P/E ratio of 2.5x. Average trailing P/E is 22x in the Real Estate industry in India. Total returns to shareholders of 36% over the past three years. Valuation Update With 7 Day Price Move • Apr 26
Investor sentiment improved over the past week After last week's 15% share price gain to ₹20.15, the stock trades at a trailing P/E ratio of 2.1x. Average trailing P/E is 20x in the Real Estate industry in India. Total loss to shareholders of 6.5% over the past three years. Valuation Update With 7 Day Price Move • Feb 20
Investor sentiment deteriorated over the past week After last week's 21% share price decline to ₹20.00, the stock is trading at a trailing P/E ratio of 2x, down from the previous P/E ratio of 2.6x. This compares to an average P/E of 20x in the Real Estate industry in India. Total return to shareholders over the past three years is a loss of 32%. Reported Earnings • Feb 15
Third quarter 2021 earnings released: EPS ₹0.75 (vs ₹13.23 in 3Q 2020) The company reported a poor third quarter result with weaker earnings, revenues and profit margins. Third quarter 2021 results: Revenue: ₹119.4m (down 65% from 3Q 2020). Net income: ₹10.4m (down 94% from 3Q 2020). Profit margin: 8.7% (down from 54% in 3Q 2020). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 88% per year but the company’s share price has fallen by 8% per year, which means it is significantly lagging earnings. Recent Insider Transactions • Feb 10
Finance Director & Whole-Time Director recently bought ₹80k worth of stock On the 5th of February, Sanjay Kedia bought around 4k shares on-market at roughly ₹22.85 per share. In the last 3 months, they made an even bigger purchase worth ₹86k. Insiders have collectively bought ₹212k more in shares than they have sold in the last 12 months. Is New 90 Day High Low • Feb 08
New 90-day high: ₹25.00 The company is up 52% from its price of ₹16.40 on 10 November 2020. The Indian market is up 21% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Real Estate industry, which is up 50% over the same period. Announcement • Jan 29
Garnet Construction Limited to Report Nine Months, 2021 Results on Feb 13, 2021 Garnet Construction Limited announced that they will report nine months, 2021 results on Feb 13, 2021 Is New 90 Day High Low • Jan 11
New 90-day high: ₹24.10 The company is up 4.0% from its price of ₹23.10 on 13 October 2020. The Indian market is up 23% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Real Estate industry, which is up 51% over the same period. Recent Insider Transactions • Jan 07
Finance Director & Whole-Time Director recently bought ₹86k worth of stock On the 6th of January, Sanjay Kedia bought around 4k shares on-market at roughly ₹20.98 per share. This was the largest purchase by an insider in the last 3 months. Insiders have collectively bought ₹97k more in shares than they have sold in the last 12 months. Announcement • Sep 11
Garnet Construction Limited to Report Q1, 2021 Results on Sep 15, 2020 Garnet Construction Limited announced that they will report Q1, 2021 results on Sep 15, 2020 Announcement • Jun 28
Garnet Construction Limited to Report Q4, 2020 Results on Jul 31, 2020 Garnet Construction Limited announced that they will report Q4, 2020 results on Jul 31, 2020 
