GARWAOFFS
GARWARE OFFSHORE SERVICES financials
- Market cap
- ₹133 Cr
Quarterly results
Q1 FY27: revenue up 177.4%, net profit down 51.1% against the same quarter last year.
| Line item | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 7 | 8 | 9 | 4 | 7 −7% | 12 +51% | 12 +39% | 12 +177% |
| EBITDA | 2 | 1 | 1 | -2 | 2 +20% | 4 +307% | 3 +91% | 4 +267% |
| Net profit | -2 | 10 | -2 | -2 | 0 +109% | -2 −121% | -6 −202% | -3 −51% |
How to read this
₹ crore, as filed. The percentage beside a figure is the change against the same quarter a year earlier — never the quarter before, which would make every seasonal business look like it collapses and booms each year.
Performance −38.3% 1Y
1Y: ₹70.01 on 10 Sept 2025 → ₹43.2. High ₹84.89 (1 Oct 2025), low ₹33.68 (30 Mar 2026).
Financials, as filed
Revenue fell 4.6% a year over 2 years, FY24 to FY26. Operating margin widened to 18.3%.
| Year ending | FY24 | FY25 | FY26 |
|---|---|---|---|
| Revenue | ₹39 Cr | ₹33 Cr | ₹36 Cr |
| Operating profit | ₹-1 Cr | ₹6 Cr | ₹7 Cr |
| Operating margin | -3.3% | 17.2% | 18.3% |
| Interest | ₹6 Cr | ₹2 Cr | ₹4 Cr |
| Depreciation | ₹15 Cr | ₹14 Cr | ₹18 Cr |
| Net profit | ₹38 Cr | ₹4 Cr | ₹-9 Cr |
| Net margin | 96.1% | 11.1% | -26.0% |
| Cash from operations | ₹12 Cr | ₹9 Cr | ₹8 Cr |
| Free cash flow | ₹93 Cr | ₹-1 Cr | ₹-67 Cr |
| ROCE | -6.0% | -5.0% | -6.0% |
How to read this
From the company's own filings. Margins are computed from the filed sums; a year with an incomplete quarter is left blank rather than estimated.
Balance sheet
| Year ending | FY21 | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|---|
| Equity capital | ₹25 Cr | ₹25 Cr | ₹25 Cr | ₹25 Cr | ₹31 Cr | ₹31 Cr |
| Reserves | ₹-212 Cr | ₹-280 Cr | ₹23 Cr | ₹58 Cr | ₹102 Cr | ₹94 Cr |
| Borrowings | ₹678 Cr | ₹699 Cr | ₹157 Cr | ₹37 Cr | ₹62 Cr | ₹65 Cr |
| Other liabilities | ₹89 Cr | ₹103 Cr | ₹46 Cr | ₹23 Cr | ₹18 Cr | ₹17 Cr |
| Total liabilities | ₹580 Cr | ₹546 Cr | ₹250 Cr | ₹143 Cr | ₹213 Cr | ₹206 Cr |
| Fixed assets | ₹522 Cr | ₹495 Cr | ₹194 Cr | ₹120 Cr | ₹179 Cr | ₹173 Cr |
| Capital work in progress | ₹0 Cr | ₹0 Cr | ₹0 Cr | ₹0 Cr | ₹0 Cr | ₹0 Cr |
| Investments | ₹0 Cr | ₹0 Cr | ₹0 Cr | ₹0 Cr | ₹0 Cr | ₹0 Cr |
| Other assets | ₹58 Cr | ₹51 Cr | ₹56 Cr | ₹22 Cr | ₹34 Cr | ₹32 Cr |
| Total assets | ₹580 Cr | ₹546 Cr | ₹250 Cr | ₹143 Cr | ₹213 Cr | ₹206 Cr |
How to read this
As filed each year. A line the company does not report — deposits for a non-lender, for instance — is left out rather than shown as a row of dashes.
Who owns it
As disclosed at Jun 2026
Since Jun 2025, DIIs added +0.65 pp while the public trimmed −0.49 pp. The shareholder count shrank 2% to 17,582.
- Promoters
- 30.3%
- FIIs
- 0.0%
- DIIs
- 0.8%
- Public
- 68.8%
Since Jun 2025
- DIIs +0.65 pp
- Public −0.49 pp
- FIIs −0.11 pp
How it drifted, 12 quarters
Over this window the public went from 63.3% to 68.8% — +5.6 pp.
Ownership split by quarter, oldest first. Sep '23: Promoters 33.3%, FIIs 1.5%, DIIs 1.9%, Public 63.3%.Dec '23: Promoters 33.3%, FIIs 0.6%, DIIs 0.2%, Public 65.9%.Mar '24: Promoters 33.3%, FIIs 0.4%, DIIs 0.2%, Public 66.1%.Jun '24: Promoters 32.5%, FIIs 0.3%, DIIs 0.2%, Public 67.1%.Sep '24: Promoters 34.0%, FIIs 0.3%, DIIs 0.2%, Public 65.6%.Dec '24: Promoters 33.9%, FIIs 0.3%, DIIs 0.1%, Public 65.7%.Mar '25: Promoters 30.5%, FIIs 0.2%, DIIs 0.1%, Public 69.2%.Jun '25: Promoters 30.4%, FIIs 0.1%, DIIs 0.1%, Public 69.3%.Sep '25: Promoters 30.4%, FIIs 0.2%, DIIs 0.8%, Public 68.7%.Dec '25: Promoters 30.4%, FIIs 0.2%, DIIs 0.8%, Public 68.7%.Mar '26: Promoters 30.4%, FIIs 0.0%, DIIs 0.8%, Public 68.8%.Jun '26: Promoters 30.3%, FIIs 0.0%, DIIs 0.8%, Public 68.8%.
Who is on the register
Named in the Jun 2026 filing
Every holder of GARWARE OFFSHORE SERVICES LIMITED above SEBI's 1% disclosure line, and what changed since Mar 2026.
| Holder | Stake | Change |
|---|---|---|
| Sushma Ashok Garware | 7.89% | unchanged |
| Garware Marine Industries Ltd. | 4.72% | unchanged |
| Universal Investment Services Pvt. Ltd. | 4.68% | unchanged |
| Rondor Overseas Ltd | 3.87% | unchanged |
| Aditya Ashok Garware | 3.75% | unchanged |
| Shri Krishna Welfare Trust | 2.54% | unchanged |
| Manoj Mittal | 2.04% | unchanged |
| Ramesh Singhal | 1.98% | unchanged |
| Adsu Trading And Investment Company Private Limited | 1.71% | unchanged |
| Mauve Trading Company Pvt Ltd | 1.20% | unchanged |
| Shesu Trading And Investment Company Pvt Ltd | 1.07% | unchanged |
| Investor Education And Protection Fund Authority Minitry Of Corporate Affairs | 1.01% | unchanged |
A holder disappearing from this list has fallen below the 1% line — it is not necessarily a sale. Percentages are of total shares, as disclosed in the company's own filing. Who was buying across the market this quarter.
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