Garware Offshore Services quarterly results and financials

Garware Offshore Services (BSE 501848)₹38.19−6.40%(9 Nov 2026 close)Shipping

Key facts

In the Sep 2026 quarter (consolidated), Garware Offshore Services reported sales of ₹10.75 Cr, up 60.0% from Sep 2025, and net profit of −₹3.73 Cr, down 2,063.2% year on year. For the year to Mar 2026, sales were ₹35.87 Cr and net profit −₹9.04 Cr.

Sales (Sep 2026): ₹10.75 Cr
Net profit (Sep 2026): −₹3.73 Cr
Sales (FY Mar 2026): ₹35.87 Cr
Net profit (FY Mar 2026): −₹9.04 Cr
EPS (Sep 2026): ₹−1.22
Borrowings (Mar 2026): ₹63.84 Cr

Company filings, consolidated accounts; latest reported quarter Sep 2026

Garware Offshore Services quarterly results

₹ crore unless stated; each column is a quarter.

Garware Offshore Services Quarterly results
	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026	Sep 2026
Sales	7.87	7.70	8.36	7.24	8.10	8.94	4.24	6.72	12.19	12.43	11.75	10.75
Expenses	7.63	9.11	6.84	5.68	7.04	7.53	6.71	4.84	7.83	9.74	7.65	7.37
Operating Profit	0.26	−1.36	1.53	1.56	1.07	1.42	−2.46	1.88	4.39	2.72	4.12	3.40
OPM %	3.4%	−17.7%	18.3%	21.6%	13.3%	15.9%	−58.2%	28.0%	35.9%	21.9%	35.0%	31.6%
Other Income	0.29	56.22	0.12	0.17	12.41	0.82	4.10	2.53	0.51	0.39	0.16	0.45
Interest	0.83	0.99	0.48	0.38	0.39	0.64	0.47	0.60	1.72	1.61	1.50	1.61
Depreciation	3.16	3.13	3.18	3.42	3.50	3.45	2.96	3.56	5.09	6.53	5.63	5.93
Profit before tax	−3.45	50.88	−2.00	−2.08	9.64	−1.84	−1.80	0.28	−1.90	−5.04	−2.83	−3.67
Tax %	0.3%	3.8%	1.0%	1.0%	0.3%	1.1%	5.6%	33.3%	5.8%	11.2%	1.8%	1.4%
Exceptional items	0.00	47.18	0.00	0.00	12.05	1.01	4.01	2.01	0.00	0.00	0.00	0.00
Net Profit	−3.46	48.99	−2.01	−2.09	9.62	−1.86	−1.91	0.19	−2.01	−5.60	−2.88	−3.73
EPS (Rs)	−1.30	18.98	−0.79	−0.81	3.65	−0.61	−0.63	0.07	−0.66	−1.83	−0.94	−1.22

Garware Offshore Services profit and loss

₹ crore unless stated; years end in March. TTM is the last four quarters.

Garware Offshore Services Profit and loss
	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026	TTM
Sales	389	162	136	128	122	77.76	64.74	50.84	38.84	32.89	35.87	47.12
Expenses	284	206	195	196	96.96	85.92	61.98	63.99	40.01	26.97	28.97	32.59
Operating Profit	107	−43.92	−58.81	−68.88	24.92	−7.98	2.99	−12.97	−0.99	5.99	6.98	14.63
OPM %	27.0%	−27.1%	−43.1%	−54.0%	19.9%	−10.1%	4.9%	−26.0%	−3.0%	18.0%	18.0%	31.1%
Other Income	1.01	15.99	−78.02	−487	70.98	391	−14.99	437	62.02	13.99	8.01	1.51
Interest	61.95	68.88	64.92	80.89	73.87	22.96	23.97	8.99	5.99	1.99	3.99	6.44
Depreciation	71.18	68.23	61.14	59.16	31.10	30.09	35.12	31.11	15.06	14.05	18.05	23.18
Profit before tax	−25.09	−166	−264	−698	−9.03	331	−71.21	385	40.13	4.01	−8.02	−13.44
Tax %	1.0%	0.0%	0.0%	0.0%	−21.0%	0.0%	0.0%	0.0%	5.0%	2.0%	10.0%	—
Exceptional items	0.00	14.04	−80.28	−493	67.31	391	−16.05	439	53.20	13.05	7.02	0.00
Net Profit	−25.10	−166	−263	−699	−7.02	330	−71.29	385	38.15	4.01	−9.04	−14.22
EPS (Rs)	−4.56	−46.26	−78.09	−200.28	−14.12	88.48	−25.21	127.94	14.52	1.20	−3.03	−4.65
Dividend payout %	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	—

Garware Offshore Services balance sheet

₹ crore, at each year end.

Garware Offshore Services Balance sheet
	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Equity Capital	24.88	24.89	24.89	24.88	24.90	24.90	24.90	24.89	24.90	24.91	30.87	30.86
Reserves	434	441	313	121	−370	−438	−212	−280	22.92	57.88	103	93.71
Borrowings	1,014	1,130	1,121	1,083	1,154	1,042	677	698	157	36.93	29.94	63.84
Other Liabilities	191	194	227	246	173	−1.01	88.57	103	45.78	22.88	14.92	16.92
Total Liabilities	1,664	1,790	1,685	1,474	983	627	578	544	249	143	178	205
Fixed Assets	1,423	1,579	1,392	1,301	837	512	521	493	193	120	116	172
CWIP	5.01	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
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	236	210	294	172	146	116	57.82	50.85	55.80	21.95	62.79	31.91
Inventories	46.79	48.27	56.26	51.56	46.63	44.95	19.97	18.66	15.26	9.55	8.59	9.20
Trade receivables	43.72	73.31	36.22	30.46	18.67	27.54	21.86	12.95	10.80	4.60	5.30	8.39
Cash & equivalents	73.92	49.70	30.48	21.22	21.47	12.25	7.17	10.63	6.52	5.33	40.54	9.31
Total Assets	1,664	1,790	1,685	1,474	983	627	578	544	249	143	178	205

Garware Offshore Services cash flow

₹ crore, for each year.

Garware Offshore Services Cash flow
	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Cash from operating activity	110	105	34.92	0.00	19.95	15.96	22.95	17.95	7.98	11.97	8.98	7.99
Cash from investing activity	18.94	−198	0.00	33.86	−0.99	46.81	−9.96	−5.98	64.72	80.67	−10.97	−71.76
Cash from financing activity	−110	69.90	−34.98	−43.97	−18.99	−72.88	−17.98	−8.99	−76.86	−93.82	38.95	32.93
Net cash flow	18.92	−23.92	0.00	−8.96	0.00	−8.96	−4.98	2.99	−3.98	−0.99	36.86	−30.87
Capex	0.00	163	1.99	1.99	8.98	12.96	9.97	5.98	11.96	4.98	10.97	73.74
Free cash flow	148	−58.95	33.93	32.93	11.98	60.92	12.99	11.98	72.93	92.89	−0.99	−66.87
CFO / OP %	66.0%	98.0%	−84.0%	−4.0%	−28.0%	62.0%	−262.0%	598.0%	−64.0%	−642.0%	172.0%	126.0%

Garware Offshore Services ratios

Working-capital days and returns, by year.

Garware Offshore Services Ratios
	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Debtor days	38	67	80	81	52	81	101	72	76	42	58	85
Cash conversion cycle	38	67	80	81	52	81	101	72	76	42	58	85
Working capital days	−48	−104	−155	−738	−1,806	−2,237	−3,125	−4,653	−1,240	−332	−148	−111
ROCE %	7.0%	2.0%	−7.0%	−9.0%	−12.9%	−1.0%	−9.0%	−8.0%	−17.0%	−6.0%	−5.0%	−6.0%

Garware Offshore Services: frequently asked questions

What are the latest quarterly results of Garware Offshore Services?

For the Sep 2026 quarter, Garware Offshore Services reported sales of ₹10.75 Cr, up 60.0% year on year and net profit of −₹3.73 Cr, down 2,063.2% year on year. The operating margin was 31.6%.

What is the annual revenue of Garware Offshore Services?

Garware Offshore Services' sales for the year to Mar 2026 were ₹35.87 Cr; over the last twelve months they were ₹47.12 Cr.

What is the net profit of Garware Offshore Services?

Net profit for the year to Mar 2026 was −₹9.04 Cr, and −₹14.22 Cr over the last twelve months. Earnings per share over the same trailing period were ₹−4.65.

How much debt does Garware Offshore Services have?

Garware Offshore Services reported borrowings of ₹63.84 Cr at Mar 2026, against cash and equivalents of ₹9.31 Cr.

What is the free cash flow of Garware Offshore Services?

Cash from operations was ₹7.99 Cr in the year to Mar 2026; after capital spending, free cash flow was −₹66.87 Cr.

Loading…