About
Garware Offshore Services Limited engages in the owning, operation, and charter of offshore support vessels in India. Its vessels provide support services for oil and gas exploration activities, including transporting personnel to rigs and platforms from onshore bases; delivering cargo, material to rigs, and platforms; anchor handling; and towing of rigs, as well as provides support services for offshore and underwater construction projects. The company was formerly known as Global Offshore Services Limited and changed its name to Garware Offshore Services Limited in February 2026. Garware Offshore Services Limited was incorporated in 1976 and is based in Mumbai, India.
Key Metrics
as of Sep 2026Market Cap144 Cr
P/E—
Div Yield0.00 %
Book Value₹40.60
52w High₹88.00
52w Low₹31.40
Face Value₹10.00
Quarterly Results
Rs. Crores · hover row for definition| Metric | Jun 2026 | Mar 2026 | Dec 2025 | Sep 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sep 2024 | Jun 2024 | Mar 2024 | Dec 2023 | Sep 2023 | Jun 2023 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 11.79 | 12.48 | 12.24 | 6.74 | 4.25 | 8.97 | 8.13 | 7.26 | 8.39 | 7.73 | 7.89 | 10.75 | 12.83 |
| Expenses | 7.66 | 9.75 | 7.84 | 4.85 | 6.72 | 7.54 | 7.05 | 5.69 | 6.85 | 9.10 | 7.62 | 6.10 | 17.69 |
| Operating Profit | 4.13 | 2.73 | 4.40 | 1.89 | -2.47 | 1.43 | 1.08 | 1.57 | 1.54 | -1.37 | 0.27 | 4.65 | -4.86 |
| OPM % | 35.03 | 21.88 | 35.95 | 28.04 | -58.12 | 15.94 | 13.28 | 21.63 | 18.36 | -17.72 | 3.42 | 43.26 | -37.88 |
| Other Income | 0.17 | 0.38 | 0.52 | 2.54 | 4.11 | 0.83 | 12.42 | 0.16 | 0.13 | 56.20 | 0.28 | 7.60 | -2.45 |
| Depreciation | 5.61 | 6.51 | 5.08 | 3.55 | 2.95 | 3.44 | 3.49 | 3.41 | 3.17 | 3.12 | 3.15 | 3.98 | 4.42 |
| Interest | 1.51 | 1.62 | 1.73 | 0.61 | 0.48 | 0.65 | 0.40 | 0.39 | 0.49 | 1.00 | 0.84 | 1.26 | 2.90 |
| Profit before tax | -2.82 | -5.02 | -1.89 | 0.27 | -1.79 | -1.83 | 9.61 | -2.07 | -1.99 | 50.71 | -3.44 | 7.01 | -14.63 |
| Tax % | 1.77 | 11.16 | 5.82 | 33.33 | 5.59 | 1.09 | 0.31 | 0.97 | 1.01 | 3.79 | 0.29 | 0.29 | 0.14 |
| Net Profit | -2.87 | -5.58 | -2.00 | 0.18 | -1.90 | -1.85 | 9.58 | -2.08 | -2.00 | 48.79 | -3.45 | 6.98 | -14.65 |
| EPS in Rs | -0.93 | -1.82 | -0.65 | 0.06 | -0.62 | -0.60 | 3.64 | -0.80 | -0.78 | 18.94 | -1.29 | 1.73 | -4.89 |
Profit & Loss
Annual · Rs. Crores| Metric | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 | Mar 2021 | Mar 2020 | Mar 2019 | Mar 2018 | Mar 2017 | Mar 2016 | Mar 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 36.00 | 33.00 | 39.00 | 51.00 | 65.00 | 78.00 | 122.00 | 128.00 | 136.00 | 162.00 | 391.00 | 407.00 |
| Expenses | 29.00 | 27.00 | 40.00 | 64.00 | 62.00 | 86.00 | 97.00 | 196.00 | 195.00 | 206.00 | 284.00 | 238.00 |
| Operating Profit | 7.00 | 6.00 | -1.00 | -13.00 | 3.00 | -8.00 | 25.00 | -69.00 | -59.00 | -44.00 | 107.00 | 168.00 |
| OPM % | 18.00 | 18.00 | -3.00 | -26.00 | 4.90 | -10.00 | 20.00 | -54.00 | -43.00 | -27.00 | 27.00 | 41.00 |
| Other Income | 8.00 | 14.00 | 62.00 | 437.00 | -15.00 | 391.00 | 71.00 | -487.00 | -78.00 | 16.00 | 1.00 | 9.00 |
| Interest | 4.00 | 2.00 | 6.00 | 9.00 | 24.00 | 23.00 | 74.00 | 81.00 | 65.00 | 69.00 | 62.00 | 54.00 |
| Depreciation | 18.00 | 14.00 | 15.00 | 31.00 | 35.00 | 30.00 | 31.00 | 59.00 | 61.00 | 68.00 | 71.00 | 66.00 |
| Profit before tax | -8.00 | 4.00 | 40.00 | 384.00 | -71.00 | 330.00 | -9.00 | -696.00 | -263.00 | -165.00 | -25.00 | 57.00 |
| Tax % | 10.00 | 2.00 | 5.00 | 0.00 | 0.00 | 0.00 | -21.00 | 0.00 | 0.00 | 0.00 | 1.00 | 3.00 |
| Net Profit | -9.00 | 4.00 | 38.00 | 383.00 | -71.00 | 329.00 | -7.00 | -696.00 | -262.00 | -165.00 | -25.00 | 55.00 |
| EPS in Rs | -3.02 | 1.19 | 14.49 | 127.65 | -25.16 | 88.20 | -14.08 | -199.69 | -77.89 | -46.17 | -4.55 | 17.95 |
| Dividend Payout % | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
Balance Sheet
Annual · Rs. Crores — latest first| Metric | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 | Mar 2021 | Mar 2020 | Mar 2019 | Mar 2018 | Mar 2017 | Mar 2016 | Mar 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 31.00 | 31.00 | 25.00 | 25.00 | 25.00 | 25.00 | 25.00 | 25.00 | 25.00 | 25.00 | 25.00 | 25.00 |
| Reserves | 94.00 | 103.00 | 58.00 | 23.00 | -280.00 | -212.00 | -438.00 | -369.00 | 121.00 | 314.00 | 442.00 | 435.00 |
| Borrowings | 65.00 | 30.00 | 37.00 | 157.00 | 699.00 | 678.00 | 1,043.00 | 1,155.00 | 1,086.00 | 1,123.00 | 1,133.00 | 1,017.00 |
| Other Liabilities | 17.00 | 15.00 | 23.00 | 46.00 | 103.00 | 89.00 | -1.00 | 174.00 | 247.00 | 228.00 | 195.00 | 192.00 |
| Total Liabilities | 206.00 | 179.00 | 143.00 | 250.00 | 546.00 | 580.00 | 629.00 | 986.00 | 1,478.00 | 1,689.00 | 1,795.00 | 1,669.00 |
| Fixed Assets | 173.00 | 116.00 | 120.00 | 194.00 | 495.00 | 522.00 | 514.00 | 839.00 | 1,305.00 | 1,395.00 | 1,584.00 | 1,427.00 |
| CWIP | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 5.00 |
| Investments | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Other Assets | 32.00 | 63.00 | 22.00 | 56.00 | 51.00 | 58.00 | 116.00 | 146.00 | 173.00 | 295.00 | 211.00 | 237.00 |
| Total Assets | 206.00 | 179.00 | 143.00 | 250.00 | 546.00 | 580.00 | 629.00 | 986.00 | 1,478.00 | 1,689.00 | 1,795.00 | 1,669.00 |
Cash Flows
Annual · Rs. Crores — latest first| Metric | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 | Mar 2021 | Mar 2020 | Mar 2019 | Mar 2018 | Mar 2017 | Mar 2016 | Mar 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash from Operating Activity | 8.00 | 9.00 | 12.00 | 8.00 | 18.00 | 23.00 | 16.00 | 20.00 | 0.00 | 35.00 | 105.00 | 110.00 |
| Cash from Investing Activity | -73.00 | -10.00 | 81.00 | 65.00 | -6.00 | -10.00 | 47.00 | -1.00 | 34.00 | 0.00 | -199.00 | 19.00 |
| Cash from Financing Activity | 33.00 | 39.00 | -94.00 | -77.00 | -9.00 | -18.00 | -73.00 | -19.00 | -44.00 | -35.00 | 70.00 | -110.00 |
| Net Cash Flow | -32.00 | 38.00 | -1.00 | -4.00 | 3.00 | -5.00 | -9.00 | 0.00 | -9.00 | 0.00 | -24.00 | 19.00 |
| Free Cash Flow | -67.00 | -1.00 | 93.00 | 73.00 | 12.00 | 13.00 | 61.00 | 12.00 | 33.00 | 34.00 | -59.00 | 148.00 |
| CFO/OP % | 127.00 | 172.00 | -642.00 | -64.00 | 598.00 | -262.00 | 62.00 | -28.00 | -4.00 | -84.00 | 98.00 | 66.00 |
Ratios
Annual · Days / % — latest first| Metric | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 | Mar 2021 | Mar 2020 | Mar 2019 | Mar 2018 | Mar 2017 | Mar 2016 | Mar 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debtor Days | 86.00 | 59.00 | 43.00 | 77.00 | 73.00 | 102.00 | 82.00 | 53.00 | 82.00 | 81.00 | 68.00 | 39.00 |
| Cash Conversion Cycle | 86.00 | 59.00 | 43.00 | 77.00 | 73.00 | 102.00 | 82.00 | 53.00 | 82.00 | 81.00 | 68.00 | 39.00 |
| Working Capital Days | -111.00 | -147.00 | -332.00 | -1,240.00 | -4,653.00 | -3,125.00 | -2,237.00 | -1,806.00 | -738.00 | -155.00 | -104.00 | -48.00 |
| ROCE % | -6.00 | -5.00 | -6.00 | -17.00 | -8.00 | -9.00 | -1.00 | -13.00 | -9.00 | -7.00 | 2.00 | 7.00 |
Corporate Actions
20 records| Action | Ex Date | Record Date | Ratio | Amount (₹) | Notes |
|---|---|---|---|---|---|
| Dividend | 16 Sep 2014 | — | — | 1.20 | |
| Dividend | 26 Aug 2013 | — | — | 0.80 | |
| Dividend | 10 Jun 2013 | 11 Jun 2013 | — | 0.80 | |
| Dividend | 22 Apr 2013 | 23 Apr 2013 | — | 0.80 | |
| Dividend | 21 Sep 2012 | — | — | 0.70 | |
| Dividend | 09 Aug 2012 | 10 Aug 2012 | — | 0.60 | |
| Dividend | 13 Feb 2012 | 14 Feb 2012 | — | 0.50 | |
| Dividend | 07 Dec 2011 | 08 Dec 2011 | — | 0.60 | |
| Dividend | 16 Sep 2011 | — | — | 0.50 | |
| Dividend | 09 May 2011 | 10 May 2011 | — | 0.50 | |
| Dividend | 12 Jan 2011 | 13 Jan 2011 | — | 0.70 | |
| Dividend | 13 Oct 2010 | 14 Oct 2010 | — | 0.70 | |
| Dividend | 18 Jun 2010 | — | — | 0.70 | |
| Dividend | 03 Feb 2010 | 04 Feb 2010 | — | 0.80 | |
| Dividend | 29 Oct 2009 | 30 Oct 2009 | — | 0.80 | |
| Dividend | 22 Sep 2009 | — | — | 0.40 | |
| Dividend | 24 Jul 2009 | 27 Jul 2009 | — | 0.40 | |
| Dividend | 04 May 2009 | 05 May 2009 | — | 0.70 | |
| Dividend | 06 Feb 2009 | 09 Feb 2009 | — | 0.60 | |
| Dividend | 22 Aug 2008 | — | — | 1.80 |
Announcements
5 filingsShareholding Pattern
Open on BSEFinancial Results — Filings
Open on BSEBoard Filings
Open on BSEAnnual Reports
Credit Ratings
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Rating update29 Sep 2023 from smera
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Rating update24 Aug 2022 from smera
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Rating update28 May 2021 from smera
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Rating update12 Mar 2020 from smera
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Rating update24 Dec 2018 from smera
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Rating update2 Aug 2018 from care