Garware Offshore Services share price & results
- Jun 2026
- Jun 2026
Indian offshore support vessel (OSV) operator that charters PSVs and AHTSVs to oil & gas E&P companies for rig positioning, anchor handling, towing and supply operations.
Reported
The figures, each with its period
Each figure keeps its basis and period; nothing is filled in.
| Metric | Value | Change | Basis | Period | Note |
|---|---|---|---|---|---|
| Revenue | 11.8 | +177.4% YoY | Quarterly, as filed | Quarter to Jun 2026 | Revenue from operations as filed. |
| Operating margin | 35.0 | +93.2 pts YoY | Operating profit / revenue | Quarter to Jun 2026 | For the quarter; a change is in percentage points. |
| Net profit | -2.9 | Quarterly, as filed | Quarter to Jun 2026 | Profit after tax as filed. The year-earlier figure was zero or a loss, so no percentage is shown. | |
| Return on equity | -9.87 | −4.1 pts | Trailing twelve months | TTM to Jun 2026 | Adjusted profit attributable to owners ÷ average owners’ equity. |
| Free cash flow margin | -183.33 | −177.3 pts | Fiscal year | FY ending Mar 2026 | (Operating cash flow − fixed-asset purchases + disposals) ÷ revenue. |
| Revenue growth (YoY) | 51.17 | +24.5 pts | Trailing twelve months | TTM to Jun 2026 | Revenue change against the same period one year earlier. |
Price
Performance −41.3% 1Y
1Y: ₹74.26 on 17 Sept 2025 → ₹43.56. High ₹84.89 (1 Oct 2025), low ₹33.68 (30 Mar 2026).
- Previous close
- ₹41.49
- Market cap
- ₹124 Cr
- 52-week range
- ₹33.68 – ₹84.89
- One year
- −42.04%
- Return on equity (TTM to Jun 2026)
- -9.87%
Overview
- Symbol
- NSE:GLOBOFFS
- Sector
- Services
- Exchange
- NSE
- Currency
- INR
What GARWARE OFFSHORE SERVICES LIMITED does
Based on the company's own presentations, annual report and earnings calls.
Garware Offshore Services (formerly Global Offshore Services) owns, operates and crews offshore support vessels — Platform Supply Vessels (PSVs) and Anchor Handling Tug Supply Vessels (AHTSVs) — chartered to oil & gas exploration & production companies for rig positioning, anchor handling/towing, supply runs, tanker support operations and buoy-maintenance/construction-support activities. It has operated across India, the North Sea, Brazil, Africa and Europe for over 40 years, working with clients such as ONGC, Vedanta, BP, Shell, Petrobras and Total. Vessel technical and commercial management is run through a wholly-owned Singapore subsidiary.
Segments
- Offshore Support Vessel (OSV) chartering
- Present fleet size
- 3 vessels — 1 PSV (M.V. Kamet) and 2 AHTSVs (M.V. Mahanadi, M.V. Mahananda)
- Vessel operating experience
- Over 40 years owning/operating/crewing/managing OSVs
- Historical fleet peak (2005–2014)
- 15+ vessels — 8 Platform Supply Vessels and 7 Anchor Handling Tug Supply Vessels
- Vessel-years client track record
- 150 years with ONGC, 20 years with Vedanta, 10 years with British Gas, 6 years with Shell
- Average fleet age
- ~18 years (vs ~27-year average sustainable life of offshore assets)
- Contracted vessels
- 2 of 3 vessels currently on term contract
Fundamentals
Ratios, each with its period
Current values with the period they cover; the trend reads across the 6 fiscal years held (Mar 2021 to Mar 2026).
Financials
What the filings say
Net profit, year on year: −51% (quarter to jun 2026 against jun 2025).
| Line item | Sept 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sept 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|
| Sales | 7 | 8 | 9 | 4 | 7 | 12 | 12 | 12 |
| Expenses | 6 | 7 | 8 | 7 | 5 | 8 | 10 | 8 |
| Operating profit | 2 | 1 | 1 | -2 | 2 | 4 | 3 | 4 |
| Operating margin | 21.6% | 13.3% | 15.9% | −58.1% | 28.0% | 36.0% | 21.9% | 35.0% |
| Other income | 0 | 12 | 1 | 4 | 3 | 1 | 0 | 0 |
| Interest | 0 | 0 | 1 | 0 | 1 | 2 | 2 | 2 |
| Depreciation | 3 | 3 | 3 | 3 | 4 | 5 | 7 | 6 |
| Profit before tax | -2 | 10 | -2 | -2 | 0 | -2 | -5 | -3 |
| Tax rate | 1.0% | 0.3% | 1.1% | 5.6% | 33.3% | 5.8% | 11.2% | 1.8% |
| Net profit | -2 | 10 | -2 | -2 | 0 | -2 | -6 | -3 |
| EPS (₹ per share) | -0.80 | 3.64 | -0.60 | -0.62 | 0.06 | -0.65 | -1.82 | -0.93 |
| Line item | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| Sales | 51 | 39 | 33 | 36 |
| Expenses | 65 | 41 | 27 | 29 |
| Operating profit | -14 | -1 | 6 | 7 |
| Other income | 437 | 62 | 14 | 8 |
| Interest | 9 | 6 | 2 | 4 |
| Depreciation | 31 | 15 | 14 | 18 |
| Profit before tax | 384 | 40 | 4 | -8 |
| Net profit | 383 | 38 | 4 | -9 |
| Line item | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Sept 2025 | Mar 2026 |
|---|---|---|---|---|---|---|
| Equity capital | 25 | 25 | 25 | 31 | 31 | 31 |
| Reserves | -280 | 23 | 58 | 103 | 102 | 94 |
| Borrowings | 699 | 157 | 37 | 30 | 62 | 64 |
| Other liabilities | 103 | 46 | 23 | 15 | 18 | 17 |
| Total liabilities | 546 | 250 | 143 | 179 | 213 | 206 |
| Fixed assets | 495 | 194 | 120 | 116 | 179 | 173 |
| Capital work in progress | 0 | 0 | 0 | 0 | 0 | 0 |
| Investments | 0 | 0 | 0 | 0 | 0 | 0 |
| Other assets | 51 | 56 | 22 | 63 | 34 | 32 |
| Total assets | 546 | 250 | 143 | 179 | 213 | 206 |
| Line item | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|
| Cash from operations | 23 | 18 | 8 | 12 | 9 | 8 |
| Cash from investing | -10 | -6 | 65 | 81 | -11 | -72 |
| Cash from financing | -18 | -9 | -77 | -94 | 39 | 33 |
| Net cash flow | -5 | 3 | -4 | -1 | 37 | -31 |
| Free cash flow | 13 | 12 | 73 | 93 | -1 | -67 |
| Line item | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|
| Debtor days | 102 | 73 | 77 | 43 | 59 | 86 |
| Cash conversion cycle | 102 | 73 | 77 | 43 | 59 | 86 |
| Working capital days | -3125 | -4653 | -1240 | -332 | -148 | -111 |
| Return on capital employed | −9.0% | −8.0% | −17.0% | −6.0% | −5.0% | −6.0% |
| Dividend payout | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
Ownership
Who owns it
Public hold 68.85% as of Jun 2026; institutions added 0.00 pts since Mar 2026.
- Promoters 30.34%
- Foreign institutions 0.03%
- Domestic institutions 0.78%
- Public 68.85%
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 |
|---|---|---|
| 7.89% | unchanged | |
| 4.72% | unchanged | |
| 4.68% | unchanged | |
| 3.87% | unchanged | |
| 3.75% | unchanged | |
| 2.54% | unchanged | |
| 2.04% | unchanged | |
| 1.98% | unchanged | |
| 1.71% | unchanged | |
| 1.20% | unchanged | |
| 1.07% | unchanged | |
| 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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