---
title: "Garware Offshore Services Ltd (GLOBOFFS) — Share Price, Financials & Analysis"
symbol: "GLOBOFFS"
company: "Garware Offshore Services Ltd"
canonical: "https://tapetide.com/stocks/GLOBOFFS"
bse_code: "501848"
sector: "Services"
industry: "Transport Services"
generated_at: "2026-10-13T10:59:46.862Z"
---

# Garware Offshore Services Ltd (GLOBOFFS)

Canonical page: https://tapetide.com/stocks/GLOBOFFS

## Company

- **BSE Code:** 501848
- **Sector:** Services
- **Industry:** Transport Services
- **Macro Sector:** Services
- **Face Value:** ₹10
- **F&O Eligible:** No
- **Website:** globaloffshore.in

## About

Incorporated in 1976, Garware Offshore Services 
Ltd is in the business of charter of offshore support vessels.[1]

## Latest Price

- **Price:** ₹40.73
- **Change:** +1.61 (+4.12%)
- **Open:** ₹39
- **Day High:** ₹41.5
- **Day Low:** ₹38.25
- **Previous Close:** ₹39.12
- **Volume:** 2745
- **As Of:** 2026-10-13T10:02:25+00:00

## Key Insights

### Strengths

- Stock is trading at 0.98 times its book value
- Company is expected to give good quarter

### Weaknesses

- Company has low interest coverage ratio.
- The company has delivered a poor sales growth of -14.4% over past five years.
- Promoter holding is low: 30.3%
- Company has a low return on equity of -13.4% over last 3 years.
- Earnings include an other income of Rs.3.61 Cr.
- Debtor days have increased from 62.4 to 85.5 days.

## Growth Rates

| Metric | 1Y | 3Y | 5Y |
| --- | --- | --- | --- |
| net income growth | -72% | 18% | 10% |
| revenue growth | 51% | -11% | -14% |

## Financial Statements

### Quarterly Results

All figures in ₹ crore unless the row name says otherwise.

| Item | 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 | 10.75 | 7.89 | 7.73 | 8.39 | 7.26 | 8.13 | 8.97 | 4.25 | 6.74 | 12.24 | 12.48 | 11.79 |
| Expenses | 6.1 | 7.62 | 9.1 | 6.85 | 5.69 | 7.05 | 7.54 | 6.72 | 4.85 | 7.84 | 9.75 | 7.66 |
| Operating Profit | 4.65 | 0.27 | -1.37 | 1.54 | 1.57 | 1.08 | 1.43 | -2.47 | 1.89 | 4.4 | 2.73 | 4.13 |
| OPM % | 43.26 | 3.42 | -17.72 | 18.36 | 21.63 | 13.28 | 15.94 | -58.12 | 28.04 | 35.95 | 21.88 | 35.03 |
| Other Income | 7.6 | 0.28 | 56.2 | 0.13 | 0.16 | 12.42 | 0.83 | 4.11 | 2.54 | 0.52 | 0.38 | 0.17 |
| Interest | 1.26 | 0.84 | 1 | 0.49 | 0.39 | 0.4 | 0.65 | 0.48 | 0.61 | 1.73 | 1.62 | 1.51 |
| Depreciation | 3.98 | 3.15 | 3.12 | 3.17 | 3.41 | 3.49 | 3.44 | 2.95 | 3.55 | 5.08 | 6.51 | 5.61 |
| Profit before tax | 7.01 | -3.44 | 50.71 | -1.99 | -2.07 | 9.61 | -1.83 | -1.79 | 0.27 | -1.89 | -5.02 | -2.82 |
| Tax % | 0.29 | 0.29 | 3.79 | 1.01 | 0.97 | 0.31 | 1.09 | 5.59 | 33.33 | 5.82 | 11.16 | 1.77 |
| Net Profit | 6.98 | -3.45 | 48.79 | -2 | -2.08 | 9.58 | -1.85 | -1.9 | 0.18 | -2 | -5.58 | -2.87 |
| 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 |

### Profit & Loss

All figures in ₹ crore unless the row name says otherwise.

| Item | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Sales | 136 | 128 | 122 | 78 | 65 | 51 | 39 | 33 | 36 | 43 |
| Expenses | 195 | 196 | 97 | 86 | 62 | 64 | 40 | 27 | 29 | 30 |
| Operating Profit | -59 | -69 | 25 | -8 | 3 | -13 | -1 | 6 | 7 | 13 |
| OPM % | -43 | -54 | 20 | -10 | 4.9 | -26 | -3 | 18 | 18 | 30 |
| Other Income | -78 | -487 | 71 | 391 | -15 | 437 | 62 | 14 | 8 | 4 |
| Interest | 65 | 81 | 74 | 23 | 24 | 9 | 6 | 2 | 4 | 5 |
| Depreciation | 61 | 59 | 31 | 30 | 35 | 31 | 15 | 14 | 18 | 21 |
| Profit before tax | -263 | -696 | -9 | 330 | -71 | 384 | 40 | 4 | -8 | -9 |
| Tax % | 0 | 0 | -21 | 0 | 0 | 0 | 5 | 2 | 10 | — |
| Net Profit | -262 | -696 | -7 | 329 | -71 | 383 | 38 | 4 | -9 | -10 |
| EPS in Rs | -77.89 | -199.69 | -14.08 | 88.2 | -25.16 | 127.65 | 14.49 | 1.19 | -3.02 | -3.34 |
| Dividend Payout % | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | — |

### Balance Sheet

All figures in ₹ crore unless the row name says otherwise.

| Item | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Equity Capital | 25 | 25 | 25 | 25 | 25 | 25 | 25 | 25 | 31 | 31 |
| Reserves | 314 | 121 | -369 | -438 | -212 | -280 | 23 | 58 | 103 | 94 |
| Borrowings | 1123 | 1086 | 1155 | 1043 | 678 | 699 | 157 | 37 | 30 | 64 |
| Other Liabilities | 228 | 247 | 174 | -1 | 89 | 103 | 46 | 23 | 15 | 17 |
| Total Liabilities | 1689 | 1478 | 986 | 629 | 580 | 546 | 250 | 143 | 179 | 206 |
| Fixed Assets | 1395 | 1305 | 839 | 514 | 522 | 495 | 194 | 120 | 116 | 173 |
| CWIP | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Assets | 295 | 173 | 146 | 116 | 58 | 51 | 56 | 22 | 63 | 32 |
| Total Assets | 1689 | 1478 | 986 | 629 | 580 | 546 | 250 | 143 | 179 | 206 |

### Cash Flow

All figures in ₹ crore unless the row name says otherwise.

| Item | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Cash from Operating Activity | 35 | 0 | 20 | 16 | 23 | 18 | 8 | 12 | 9 | 8 |
| Cash from Investing Activity | 0 | 34 | -1 | 47 | -10 | -6 | 65 | 81 | -11 | -72 |
| Cash from Financing Activity | -35 | -44 | -19 | -73 | -18 | -9 | -77 | -94 | 39 | 33 |
| Net Cash Flow | 0 | -9 | 0 | -9 | -5 | 3 | -4 | -1 | 37 | -31 |
| Free Cash Flow | 34 | 33 | 12 | 61 | 13 | 12 | 73 | 93 | -1 | -67 |
| CFO/OP | -84 | -4 | -28 | 62 | -262 | 598 | -64 | -642 | 172 | 126 |

### Ratios

| Item | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Debtor Days | 81 | 82 | 53 | 82 | 102 | 73 | 77 | 43 | 59 | 86 |
| Cash Conversion Cycle | 81 | 82 | 53 | 82 | 102 | 73 | 77 | 43 | 59 | 86 |
| Working Capital Days | -155 | -738 | -1806 | -2237 | -3125 | -4653 | -1240 | -332 | -148 | -111 |
| ROCE % | -7 | -9 | -13 | -1 | -9 | -8 | -17 | -6 | -5 | -6 |

## Shareholding Pattern

### annual

| Category | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | Jun 2026 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Promoters | 32.9% | 32.9% | 33.06% | 33.1% | 33.29% | 33.29% | 33.29% | 33.29% | 30.46% | 30.35% | 30.34% |
| FIIs | 0.62% | 0.58% | 0.57% | 0.57% | 0.57% | 1.06% | 1.58% | 0.41% | 0.23% | 0.03% | 0.03% |
| DIIs | 5.31% | 5.25% | 5.25% | 5.25% | 5.25% | 5.25% | 4% | 0.16% | 0.13% | 0.78% | 0.78% |
| Public | 61.17% | 61.27% | 61.12% | 61.08% | 60.89% | 60.41% | 61.13% | 66.14% | 69.18% | 68.82% | 68.85% |
| No. of Shareholders | 26303 | 25164 | 21494 | 20832 | 19866 | 19160 | 17959 | 17782 | 17956 | 17588 | 17582 |

### Quarterly

| Category | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Promoters | 33.29% | 33.29% | 33.29% | 32.47% | 33.98% | 33.86% | 30.46% | 30.4% | 30.35% | 30.35% | 30.35% | 30.34% |
| FIIs | 1.5% | 0.62% | 0.41% | 0.28% | 0.27% | 0.27% | 0.23% | 0.14% | 0.16% | 0.16% | 0.03% | 0.03% |
| DIIs | 1.95% | 0.16% | 0.16% | 0.16% | 0.16% | 0.15% | 0.13% | 0.13% | 0.78% | 0.78% | 0.78% | 0.78% |
| Public | 63.27% | 65.94% | 66.14% | 67.07% | 65.59% | 65.71% | 69.18% | 69.34% | 68.7% | 68.7% | 68.82% | 68.85% |
| No. of Shareholders | 17805 | 17858 | 17782 | 17996 | 18002 | 17894 | 17956 | 17990 | 17886 | 17777 | 17588 | 17582 |

## Technical Indicators

Derived from daily closing prices and recomputed each trading session; values move with the market.

- **Overall Signal:** Strong Sell
- **Buy / Neutral / Sell:** 2 / 5 / 12

### Moving Averages — summary: **Strong Sell**

| Indicator | Value | Signal |
| --- | --- | --- |
| SMA (10) | 41.87 | Sell |
| EMA (10) | 41.59 | Sell |
| SMA (20) | 42.67 | Sell |
| EMA (20) | 42.8 | Sell |
| SMA (50) | 45.75 | Sell |
| EMA (50) | 44.87 | Sell |
| SMA (100) | 46.67 | Sell |
| EMA (100) | 46.62 | Sell |
| SMA (200) | 48.28 | Sell |
| EMA (200) | 51.47 | Sell |

### Oscillators — summary: **Neutral**

| Indicator | Value | Signal |
| --- | --- | --- |
| RSI (14) | 36.74 | Neutral |
| MACD (12,26,9) | -1.51 | Sell |
| Stochastic (14,3,3) | 25.52 | Neutral |
| ADX (14) | 23.5 | Neutral |
| Williams %R (14) | -82.97 | Buy |
| ATR (14) | 2.67 | High Volatility |
| ROC (12) | -12.76 | Sell |
| Stoch RSI (14) | 7.59 | Buy |
| UO (7,14,28) | 38.14 | Neutral |

## Filings & Documents

### Other Documents

| Date | Document |
| --- | --- |
| 2026-10-09 | [Compliances-Certificate under Reg. 74 (5) of SEBI (DP) Regulations, 2018](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=baa5d067-6dc9-4d27-8049-0d4d307b65d6.pdf) |
| 2026-09-30 | [Demand Notice Issued By The Garware Offshore Services Limited ('The Company') Demanding Payment Of Rs. 3,04,59,761.44 Plus Interest Under The Insolvency And Bankruptcy Code, 2016 To Afcons Infrastructure Limited](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=72b5526d-0b98-453d-9031-037d39f9873f.pdf) |
| 2026-09-24 | [Shareholder Meeting / Postal Ballot-Outcome of AGM](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=c7420bc1-b707-4ecf-beda-4c18dcfe1045.pdf) |
| 2026-09-24 | [Shareholder Meeting / Postal Ballot-Scrutinizer''s Report](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=4bfa1d2e-e408-4fbb-a589-fff8c9596a74.pdf) |
| 2026-09-01 | [Reg. 34 (1) Annual Report.](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=e304a74b-273b-4ec0-9ad6-dad72ee57f0b.pdf) |
| 2026-08-24 | [Announcement under Regulation 30 (LODR)-Preferential Issue](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=a9c6172c-246f-47c7-a45e-dc883394afca.pdf) |
| 2026-08-18 | [Contract For Vessel](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=7b8225d3-0848-48ef-9d58-557bd25ca234.pdf) |
| 2026-08-12 | [Announcement under Regulation 30 (LODR)-Preferential Issue](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=4a3d5a4d-090b-4bd6-b2f7-310ffda88d87.pdf) |
| 2026-08-10 | [Board Meeting Outcome for OUTCOME OF THE BOARD MEETING DATED 10TH AUGUST 2026](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=2771450d-62d0-4125-98c7-8460e1b91128.pdf) |
| 2026-08-03 | [Board Meeting Intimation for BOARD MEETING INTIMATION](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=d98cacb1-f4df-430a-993c-62ea437652c7.pdf) |

### Annual Reports

| Date | Document |
| --- | --- |
| 2026 | [Annual Report 2026](https://www.bseindia.com/xml-data/corpfiling/AttachHis/e304a74b-273b-4ec0-9ad6-dad72ee57f0b.pdf) |
| 2025 | [Annual Report 2025](https://www.bseindia.com/xml-data/corpfiling/AttachHis/2e856469-4037-4b83-a3cf-fa82c4b044d1.pdf) |
| 2024 | [Annual Report 2024](https://www.bseindia.com/xml-data/corpfiling/AttachHis/bb02afb0-c7dd-409c-b436-eefad127d480.pdf) |
| 2023 | [Annual Report 2023](https://www.bseindia.com/xml-data/corpfiling/AttachHis/61be11bd-5939-4312-9a45-51d5d4781e48.pdf) |
| 2022 | [Annual Report 2022](https://www.bseindia.com/bseplus/AnnualReport/501848/76352501848.pdf) |
| 2021 | [Annual Report 2021](https://www.bseindia.com/bseplus/AnnualReport/501848/71079501848.pdf) |
| 2020 | [Annual Report 2020](https://www.bseindia.com/bseplus/AnnualReport/501848/65516501848.pdf) |
| Mar 2019 | [Annual Report 2019](https://www.bseindia.com/bseplus/AnnualReport/501848/5018480319.pdf) |
| Mar 2018 | [Annual Report 2018](https://www.bseindia.com/bseplus/AnnualReport/501848/5018480318.pdf) |
| Mar 2017 | [Annual Report 2017](https://www.bseindia.com/bseplus/AnnualReport/501848/5018480317.pdf) |

### Earnings Call Documents

| Date | Document |
| --- | --- |
| Jun 2026 | [Concall - Jun 2026](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=00eaacf4-dbb7-436c-8ba1-f87f2d7e0826.pdf) |
| Aug 2025 | [Concall - Aug 2025](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=dbf2a625-9beb-4106-be7a-e739112ac060.pdf) |

### Credit Rating Reports

| Date | Document |
| --- | --- |
| 2023-09-29 | Credit rating update — Acuité |
| 2022-08-24 | Credit rating update — Acuité |
| 2021-05-28 | Credit rating update — Acuité |
| 2020-03-12 | Credit rating update — Acuité |
| 2018-12-24 | Credit rating update — Acuité |
| 2018-08-02 | Credit rating update — CARE Ratings |

---

Provenance differs by section. Financial statements, shareholding and filings are as reported in company disclosures to NSE/BSE/SEBI. Price, volume and 52-week levels are exchange market data. Technical indicators are computed by Tapetide from daily closing prices. The Tapetide Score is Tapetide's own analysis. Analyst ratings are third-party estimates, not company statements. All figures are for research and information only and are not investment advice. Generated 2026-10-13T10:59:46.862Z.