Garware Offshore Services Ltd-$
- Market cap
- ₹ 111 Cr.
- P/E
- 46x
- P/B
- 0.91x
- 52-week range
- 31.36 – 77.5
- ROE
- −12%
- ROCE
- −6%
- Dividend yield
- 0%
- Debt / equity
- 0.52
- Sector
- Transport Services
- Industry
- Shipping
- Listed on
- BSE
About
Garware Offshore Services Limited, formerly Global Offshore Services Limited, is engaged in the business of owning, operating and chartering offshore support vessels. The Company is engaged in providing offshore support services to exploration and production companies. Its vessels support oil and gas exploration activities, and offshore projects. It operates through the charter of the offshore support vessel segment. Its vessels support oil and gas exploration efforts involving transport of personnel to rigs / platforms from onshore bases and vice-versa; delivery of cargo / material to rigs / platforms; anchor handling operations; towing of rigs from one location to another, and support to offshore / underwater construction projects. The Platform Supply Vessels (PSVs) owned and operated by the Company are deployed in India and West Africa, whilst the Anchor Handling Tug Cum Supply Vessels (AHTSVs) operate in India.
Quick check
The five things to look at first. Open one for more.
Compared with its industry
Shipping: 14 companies →Garware Offshore Services Ltd-$ against the typical company in its industry. The rank is out of the companies that report each figure; green means the better quarter of the pack, red the worse quarter.
- Valuation (P/E)46 against a typical 10.8: pricier than most peers (1st = cheapest).10th of 13
- Sales growth+177.4% against a typical +35.1% from a year earlier.2nd of 10
- Share price, 3 months−19.5% against a typical −5.1%.11th of 13
- Size₹ 110.8 Cr. market value against a typical ₹ 303.8 Cr. (1st = largest).8th of 13
Financials
Consolidated figures in ₹ crore.
| ₹ Cr. | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 11 | 8 | 8 | 8 | 7 | 8 | 9 | 4 | 7 | 12 | 12 | 12 |
| Expenses | 6 | 8 | 9 | 7 | 6 | 7 | 8 | 7 | 5 | 8 | 10 | 8 |
| Operating Profit | 5 | 0 | −1 | 2 | 2 | 1 | 1 | −2 | 2 | 4 | 3 | 4 |
| OPM % | 43.3% | 3.4% | −17.7% | 18.4% | 21.6% | 13.3% | 15.9% | −58.1% | 28% | 36% | 21.9% | 35% |
| Other Income | 8 | 0 | 56 | 0 | 0 | 12 | 1 | 4 | 3 | 1 | 0 | 0 |
| Interest | 1 | 1 | 1 | 0 | 0 | 0 | 1 | 0 | 1 | 2 | 2 | 2 |
| Depreciation | 4 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 4 | 5 | 7 | 6 |
| Profit before tax | 7 | −3 | 51 | −2 | −2 | 10 | −2 | −2 | 0 | −2 | −5 | −3 |
| Tax % | 0.3% | 0.3% | 3.8% | 1% | 1% | 0.3% | 1.1% | 5.6% | 33.3% | 5.8% | 11.2% | 1.8% |
| Net Profit | 7 | −3 | 49 | −2 | −2 | 10 | −2 | −2 | 0 | −2 | −6 | −3 |
| EPS in Rs | 1.73 | −1.29 | 18.94 | −0.78 | −0.8 | 3.64 | −0.6 | −0.62 | 0.06 | −0.65 | −1.82 | −0.93 |
Growth and returns
Compounded yearly rates over each period.
- 10 Years
- −21%
- 5 Years
- −14%
- 3 Years
- −11%
- TTM
- 51%
- 10 Years
- −4%
- 5 Years
- 10%
- 3 Years
- 19%
- TTM
- −62%
- 10 Years
- −11%
- 5 Years
- 10%
- 3 Years
- 10%
- TTM
- —
- 10 Years
- —
- 5 Years
- —
- 3 Years
- −13%
- TTM
- —
Peers
Listed companies in the same business.
| Garware Offshore Services Ltd-$ | ₹ 33.75 | ₹ 111 Cr. | 46x | 0.9x | −12% | — |
| Mazagon Dock Shipbuilders | ₹ 1,862.00 | ₹ 75,109 Cr. | 36.6x | 9.7x | 31.2% | 20% |
| Cochin Shipyard | ₹ 1,143.00 | ₹ 30,070 Cr. | 51.5x | 6.3x | 12.5% | 14.3% |
| Great Eastern Shipping Company | ₹ 1,490.00 | ₹ 21,898 Cr. | 7.7x | 1.1x | 18.9% | 54.4% |
| Shipping Corporation of India | ₹ 237.95 | ₹ 11,084 Cr. | 9.7x | 1.4x | 15.5% | 23.4% |
| Swan Defence and Heavy Industries | ₹ 2,696.90 | ₹ 14,208 Cr. | — | 168.7x | −123.9% | −80.2% |
Management
- Aditya Ashok Garware
- Executive Vice Chairman of the Board
- K. S. Dave
- President - Commercial
- A. C. Chandarana
- Compliance Officer, Company Secretary
- Z. R. Mehta
- General Manager - Technical
- Paras S. Shah
- General Manager - Finance & Accounts
- Mukund Madhav Honkan
- Additional Whole Time-Director
- K. P. KEKRE
- HEAD - HSSE & TRAINING
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