Garuda Aerospace Goes Public: India’s Drone Engine Prepares for Next Big-Tech Listing

Garuda Aerospace founded by Agnishwar Jayaprakash has formally converted itself into a public company, dropping “Private” from its name as a preparatory step toward a potential IPO. 

To strengthen governance ahead of a potential listing, the company has also added new independent directors to its board. 

Solid FY25 Performance 

• In FY25, Garuda posted ₹118 crore in revenue, up from ₹110 crore in FY24. 

• Profit After Tax stood at ₹17.5 crore, continuing a streak of profitability in a typically capital-intensive industry.

• For FY26, the company targets ₹365 crore in revenue, pointing to aggressive growth plans backed by expanding manufacturing and export ambitions.

• The firm boasts India’s largest commercial drone fleet: 400+ drones and 500 trained pilots, operating across 84 cities, producing over 30 drone models and offering 50+ services. 

What Makes Garuda Stand Out — Strategy & Strengths

Strong funding backing: In April 2025, Garuda raised ₹100 crore in a Series B led by Venture Catalysts; later followed by investment from Narotam Sekhsaria Family Office and existing backers, boosting firepower ahead of public listing.

Scaling manufacturing capacity: With plans to ramp up production from 8,000 drones per year to 12,000–15,000, the company is building a production base comparable to global drone manufacturers.

Regulatory get-rights and export licence: Garuda has secured DGCA certifications, and won export clearances to ship drones to markets like US, Australia, and Middle East paving way for global ambitions.

Diversified use-cases beyond agriculture: From precision agriculture and disaster relief to defence-grade drones and logistics solutions , Garuda targets multiple high-growth verticals, reducing reliance on a single segment.

These advantages place Garuda as one of the few drone-tech firms in India with a credible path to scale, export, and diversified business models.