Sharescart Research Club logo

Garware Offshore Ser Overview

Global Offshore Services Limited has been operating in the offshore support industry since 1976. They provide services to oil and gas companies, primarily through their fleet of vessels including platform supply vessels (PSVs), anchor handling tug supply vessels (AHTSVs), and safety standby vessels. The company was founded by the Jassal family, who remain involved in its management. They emphasize their focus on safety, quality, and efficiency, which are indeed critical factors in the offshore support industry. The company's financial performan...Read More

Want to Start Investing in Top Unlisted Stocks?

Our experts help you choose the right stocks based on performance, risk, and growth potential.

Garware Offshore Ser Key Financials

Market Cap ₹147 Cr.

Stock P/E 40.4

P/B 1.1

Current Price ₹47.9

Book Value ₹ 42.5

Face Value 10

52W High ₹104.9

Dividend Yield 0%

52W Low ₹ 31.4

Garware Offshore Ser Share Price

| |

Volume
Price

Garware Offshore Ser Quarterly Price

Show Value Show %

Garware Offshore Ser Peer Comparison

Garware Offshore Ser Quarterly Results

#(Fig in Cr.) Sep 2023 Dec 2023 Mar 2024 Jun 2024 Sep 2024 Dec 2024 Mar 2025 Jun 2025 Sep 2025 Dec 2025
Net Sales 11 8 8 8 7 8 9 4 7 12
Other Income -0 0 7 0 0 0 0 0 0 0
Total Income 11 8 15 8 7 8 9 5 7 13
Total Expenditure 6 8 9 7 6 7 8 7 5 8
Operating Profit 5 0 6 2 2 1 2 -2 2 5
Interest 1 1 1 0 0 0 1 0 1 2
Depreciation 4 3 3 3 3 3 3 3 4 5
Exceptional Income / Expenses 8 0 49 0 0 12 1 4 2 0
Profit Before Tax 7 -3 51 -2 -2 10 -2 -2 0 -2
Provision for Tax 0 0 2 0 0 0 0 0 0 0
Profit After Tax 7 -3 49 -2 -2 10 -2 -2 0 -2
Adjustments -3 0 -2 0 -0 0 0 0 -0 -0
Profit After Adjustments 4 -3 47 -2 -2 10 -2 -2 0 -2
Adjusted Earnings Per Share 1.7 -1.3 18.9 -0.8 -0.8 3.6 -0.6 -0.6 0.1 -0.7

Garware Offshore Ser Profit & Loss

#(Fig in Cr.) Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 TTM
Net Sales 399 372 162 136 128 122 78 65 51 39 33 32
Other Income 9 1 3 2 5 3 1 1 0 8 1 0
Total Income 408 373 164 138 132 125 78 66 51 47 33 34
Total Expenditure 231 265 206 195 196 97 85 62 64 40 27 28
Operating Profit 177 108 -42 -57 -64 27 -7 4 -13 7 6 7
Interest 54 62 69 65 81 74 23 24 9 6 2 4
Depreciation 66 71 68 61 59 31 30 35 31 15 14 15
Exceptional Income / Expenses 0 0 14 -80 -491 68 390 -16 437 54 13 7
Profit Before Tax 57 -25 -165 -263 -696 -9 330 -71 384 40 4 -6
Provision for Tax 2 0 0 -0 0 -2 1 0 1 2 0 0
Profit After Tax 55 -25 -165 -262 -696 -7 329 -71 383 38 4 -6
Adjustments -11 14 51 70 202 -28 -111 9 -67 -2 0 0
Profit After Adjustments 44 -11 -114 -193 -494 -35 218 -62 316 36 4 -6
Adjusted Earnings Per Share 18 -4.6 -46.2 -77.9 -199.7 -14.1 88.2 -25.2 127.7 14.5 1.2 -1.8

Growth Rates

# 1 Year 3 Year 5 Year 10 Year
Sales CAGR -15% -20% -23% -22%
Operating Profit CAGR -14% 14% -26% -29%
PAT CAGR -89% 0% 0% -23%
# 1 Year 3 Year 5 Year 10 Year
Share Price CAGR -44% 9% 47% -11%
ROE Average 3% 20% 12% -7%
ROCE Average 4% 51% 41% 13%

Garware Offshore Ser Balance Sheet

#(Fig in Cr.) Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
Shareholder's Funds 460 467 339 145 -344 -413 -187 -255 47 82 134
Minority's Interest 129 123 65 -5 -204 -193 -79 -90 -29 0 0
Borrowings 862 932 938 853 627 390 131 25 9 5 12
Other Non-Current Liabilities 1 1 58 103 186 -2 -1 -1 0 2 2
Total Current Liabilities 216 273 289 381 721 845 714 867 222 53 31
Total Liabilities 1669 1795 1689 1478 986 627 578 545 250 143 179
Fixed Assets 1427 1584 1395 1305 839 514 522 495 194 120 116
Other Non-Current Assets 5 0 44 46 36 4 0 0 0 0 2
Total Current Assets 237 211 251 127 110 110 56 50 42 22 61
Total Assets 1669 1795 1689 1478 986 627 578 545 250 143 179

Garware Offshore Ser Cash Flow

#(Fig in Cr.) Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
Opening Cash & Cash Equivalents 54 74 31 31 21 21 12 7 11 7 5
Cash Flow from Operating Activities 110 105 35 0 20 16 23 18 8 12 9
Cash Flow from Investing Activities 40 -163 1 34 -7 47 -10 -6 65 81 -10
Cash Flow from Financing Activities -110 70 -35 -44 -19 -73 -18 -9 -77 -94 39
Net Cash Inflow / Outflow 40 11 1 -9 -6 -10 -5 3 -4 -1 38
Closing Cash & Cash Equivalent 74 50 31 21 21 12 7 11 7 5 43

Garware Offshore Ser Ratios

# Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
Earnings Per Share (Rs) 17.95 -4.55 -46.17 -77.89 -199.69 -14.09 88.2 -25.16 127.65 14.49 1.19
CEPS(Rs) 48.94 18.3 -39.17 -81.55 -257.27 9.56 145.37 -14.53 167.3 21.17 5.6
DPS(Rs) 0 0 0 0 0 0 0 0 0 0 0
Book NAV/Share(Rs) 186.01 188.7 137.08 58.84 -139.12 -167.17 -75.66 -103.28 19.2 33.32 43.66
Core EBITDA Margin(%) 42.17 28.78 -27.43 -43.3 -53.67 20.14 -10.08 4.94 -26.18 -2.96 17.69
EBIT Margin(%) 27.89 9.98 -59.58 -145.59 -480.89 53.03 453.86 -71.81 770.01 116.78 17.79
Pre Tax Margin(%) 14.34 -6.76 -101.97 -193.39 -544.31 -7.37 424.32 -108.89 752.59 101.11 11.39
PAT Margin (%) 13.84 -6.82 -102.12 -193.36 -544.37 -5.85 423.57 -109.33 749.93 96.08 11.14
Cash Profit Margin (%) 30.36 12.16 -59.87 -148.56 -497.86 19.39 462.82 -55.31 810.99 133.5 52.4
ROA(%) 3.29 -1.47 -9.48 -16.57 -56.47 -0.88 54.58 -12.65 96.27 19.2 2.27
ROE(%) 13.04 -5.48 -41.01 -108.36 0 0 0 0 0 58.02 3.38
ROCE(%) 7.5 2.41 -6.3 -14.68 -60.17 8.97 62.91 -9.99 121.33 28.53 4.19
Receivable days 45.44 57.27 123.23 89.36 69.98 68.99 115.75 97.53 84.77 71.49 55.07
Inventory Days 39.19 46.75 118.22 145.27 140.51 137.32 152.88 108.75 121.54 115.71 101.31
Payable days 0 0 0 0 0 0 0 0 0 0 0
PER(x) 35.89 0 0 0 0 0 0.07 0 0.16 3 79.07
Price/Book(x) 3.46 0.97 0.32 0.36 -0.08 -0.02 -0.08 -0.44 1.06 1.31 2.16
Dividend Yield(%) 0 0 0 0 0 0 0 0 0 0 0
EV/Net Sales(x) 6.36 4.13 7.41 8.23 9.09 8.51 8.84 12.31 3.93 3.49 8.32
EV/Core EBITDA(x) 14.33 14.24 -28.75 -19.72 -18.14 38.18 -98.06 182.83 -15.21 21 43.12
Net Sales Growth(%) 10.52 -6.68 -56.52 -16.09 -5.87 -4.57 -36.31 -16.34 -21.49 -23.14 -16.48
EBIT Growth(%) 10.36 -66.6 -359.56 -105.06 -210.94 110.52 445.1 -113.24 941.92 -88.34 -87.28
PAT Growth(%) 18.97 -146.01 -550.7 -58.89 -165.01 98.97 4712.83 -121.59 638.54 -90.15 -90.31
EPS Growth(%) 16.29 -125.36 -914.43 -68.7 -156.37 92.95 726.18 -128.53 607.34 -88.65 -91.78
Debt/Equity(x) 2.21 2.43 3.31 7.46 -3.36 -2.52 -3.62 -2.74 3.3 0.42 0.2
Current Ratio(x) 1.09 0.77 0.87 0.33 0.15 0.13 0.08 0.06 0.19 0.42 1.97
Quick Ratio(x) 0.88 0.6 0.67 0.2 0.09 0.08 0.05 0.04 0.12 0.24 1.69
Interest Cover(x) 2.06 0.6 -1.41 -3.05 -7.58 0.88 15.37 -1.94 44.19 7.46 2.78
Total Debt/Mcap(x) 0.64 2.51 10.46 20.66 41.42 162.29 42.9 6.27 3.11 0.32 0.09

Garware Offshore Ser Shareholding Pattern

# Dec 2023 Mar 2024 Jun 2024 Sep 2024 Dec 2024 Mar 2025 Jun 2025 Sep 2025 Dec 2025 Mar 2026
Promoter 33.28 33.29 32.47 33.98 33.86 30.46 30.39 30.35 30.35 30.36
FII 0.62 0.41 0.28 0.27 0.27 0.23 0.14 0.16 0.16 0.03
DII 0.16 0.16 0.16 0.16 0.16 0.13 0.13 0.78 0.78 0.78
Public 65.93 66.14 67.09 65.59 65.71 69.18 69.34 68.7 68.7 68.83
Others 0 0 0 0 0 0 0 0 0 0
Total 100 100 100 100 100 100 100 100 100 100

Garware Offshore Ser News

Garware Offshore Ser Pros & Cons

Pros

  • Company has a good return on equity (ROE) track record: 3 Years ROE 20%
  • Company is almost debt free.

Cons

  • Promoter holding is low: 30.36%.
whatsapp