GR Engineering Services (ASX: GNG): Record Order Book Converts to Earnings, Valuation Now Close to Fair
Sep 24, 2026
Proactive Equities Team
GR Engineering’s record A$1.29 billion order book underpins FY27 revenue guidance of A$825–850 million, following record FY26 earnings. Strong project demand supports growth, but fixed-price execution risks, a stretched dividend payout and a demanding valuation warrant caution.