---
title: "GOL Offshore Ltd (GTOFFSHORE) — Share Price, Financials & Analysis"
symbol: "GTOFFSHORE"
company: "GOL Offshore Ltd"
canonical: "https://tapetide.com/stocks/GTOFFSHORE"
sector: "Energy"
industry: "Oil"
generated_at: "2026-09-13T19:03:42.499Z"
---

# GOL Offshore Ltd (GTOFFSHORE)

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

## Company

- **Sector:** Energy
- **Industry:** Oil
- **Macro Sector:** Energy
- **Stock Type:** EQUITY
- **Face Value:** ₹10
- **F&O Eligible:** No
- **Website:** goloffshore.com

## About

GOL Offshore Ltd is an integrated offshore oilfield services provider offering services to upstream oil and gas producers to carry out offshore exploration and production activities.

## Latest Price

## Key Insights

### Strengths

- Company has reduced debt.

### Weaknesses

- Stock is trading at 3.53 times its book value
- Company has low interest coverage ratio.
- The company has delivered a poor sales growth of 1.80% over past five years.
- Company has a low return on equity of -2.82% over last 3 years.
- Contingent liabilities of Rs.878 Cr.
- Company's cost of borrowing seems high

## Growth Rates

| Metric | 1Y | 3Y | 5Y |
| --- | --- | --- | --- |
| net income growth | -785% | — | — |
| revenue growth | -61% | 3% | 2% |

## Financial Statements

### Quarterly Results

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

| Item | Mar 2014 | Jun 2014 | Sep 2014 | Dec 2014 | Mar 2015 | Jun 2015 | Sep 2015 | Dec 2015 | Mar 2016 | Jun 2016 | Sep 2016 | Dec 2016 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Sales | 258 | 229 | 250 | 278 | 301 | 357 | 232 | 184 | 151 | 130 | 61 | 73 |
| Expenses | 174 | 122 | 156 | 205 | 226 | 298 | 208 | 137 | 142 | 161 | 98 | 133 |
| Operating Profit | 84 | 106 | 94 | 73 | 75 | 59 | 24 | 46 | 9 | -31 | -37 | -60 |
| OPM % | 33 | 47 | 38 | 26 | 25 | 17 | 10 | 25 | 6 | -24 | -61 | -83 |
| Other Income | 13 | 11 | 10 | 9 | 11 | 26 | 35 | 49 | -721 | 26 | -143 | 35 |
| Interest | 50 | 65 | 57 | 59 | 60 | 53 | 52 | 60 | 52 | 50 | 31 | 38 |
| Depreciation | 44 | 45 | 44 | 39 | 36 | 36 | 37 | 34 | 30 | 30 | 30 | 28 |
| Profit before tax | 3 | 8 | 2 | -17 | -10 | -4 | -30 | 2 | -794 | -84 | -240 | -92 |
| Tax % | -315 | 54 | 230 | -1 | -131 | -22 | -5 | -103 | -1 | -2 | 0 | -2 |
| Net Profit | 13 | 4 | -3 | -17 | 3 | -3 | -29 | 4 | -790 | -83 | -239 | -90 |
| EPS in Rs | 3.48 | 0.95 | -0.73 | -4.45 | 0.8 | -0.78 | -7.67 | 1.06 | -212.17 | -22.26 | -30.36 | -11.39 |

### Profit & Loss

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

| Item | Mar 2008 | Mar 2009 | Mar 2010 | Mar 2011 | Mar 2012 | Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | TTM |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Sales | 676 | 895 | 1007 | 846 | 800 | 843 | 951 | 1048 | 924 | 415 |
| Expenses | 384 | 528 | 580 | 551 | 497 | 653 | 634 | 718 | 737 | 534 |
| Operating Profit | 292 | 367 | 427 | 295 | 304 | 191 | 316 | 330 | 188 | -119 |
| OPM % | 43 | 41 | 42 | 35 | 38 | 23 | 33 | 32 | 20 | -29 |
| Other Income | 92 | 58 | 6 | 129 | 161 | 311 | 240 | 60 | -665 | -803 |
| Interest | 66 | 89 | 109 | 131 | 177 | 215 | 217 | 241 | 230 | 171 |
| Depreciation | 99 | 100 | 132 | 183 | 172 | 179 | 182 | 165 | 137 | 119 |
| Profit before tax | 220 | 236 | 192 | 109 | 116 | 107 | 157 | -16 | -844 | -1211 |
| Tax % | 8 | 11 | 9 | 7 | 36 | 44 | 23 | -22 | -1 | — |
| Net Profit | 203 | 211 | 175 | 102 | 74 | 61 | 122 | -13 | -836 | -1202 |
| EPS in Rs | 53.31 | 56.84 | 46.9 | 27.32 | 19.97 | 16.29 | 32.68 | -3.43 | -224.37 | -276.18 |
| Dividend Payout % | 30 | 4 | 5 | 9 | 13 | 0 | 0 | 0 | 0 | — |

### Balance Sheet

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

| Item | Mar 2007 | Mar 2008 | Mar 2009 | Mar 2010 | Mar 2011 | Mar 2012 | Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Equity Capital | 38 | 38 | 37 | 37 | 37 | 37 | 37 | 37 | 37 | 37 |
| Reserves | 585 | 700 | 655 | 992 | 1100 | 906 | 947 | 978 | 1100 | 346 |
| Borrowings | 747 | 1080 | 1943 | 2315 | 2902 | 2867 | 2402 | 2311 | 2008 | 1897 |
| Other Liabilities | 146 | 235 | 258 | 216 | 437 | 473 | 1295 | 1438 | 909 | 841 |
| Total Liabilities | 1515 | 2053 | 2894 | 3561 | 4476 | 4283 | 4681 | 4764 | 4054 | 3122 |
| Fixed Assets | 967 | 999 | 1376 | 1783 | 1764 | 1392 | 1247 | 1053 | 938 | 804 |
| CWIP | 322 | 391 | 818 | 1163 | 1219 | 1474 | 1103 | 1170 | 942 | 893 |
| Investments | 1 | 13 | 146 | 146 | 147 | 197 | 197 | 197 | 262 | 259 |
| Other Assets | 225 | 650 | 554 | 468 | 1347 | 1220 | 2135 | 2345 | 1912 | 1165 |
| Total Assets | 1515 | 2053 | 2894 | 3561 | 4476 | 4283 | 4681 | 4764 | 4054 | 3122 |

### Cash Flow

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

| Item | Mar 2007 | Mar 2008 | Mar 2009 | Mar 2010 | Mar 2011 | Mar 2012 | Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Cash from Operating Activity | 226 | 285 | 332 | 409 | 299 | 438 | 351 | 609 | 209 | 310 |
| Cash from Investing Activity | -594 | -276 | -942 | -884 | 83 | -179 | 1007 | -33 | 451 | 8 |
| Cash from Financing Activity | 315 | 263 | 480 | 343 | -286 | -401 | -1362 | -465 | -675 | -331 |
| Net Cash Flow | -52 | 272 | -130 | -132 | 97 | -142 | -4 | 111 | -15 | -12 |
| Free Cash Flow | -370 | 13 | -482 | -476 | 79 | 189 | 1321 | 578 | 169 | 300 |
| CFO/OP | 97 | 106 | 98 | 102 | 105 | 153 | 191 | 197 | 70 | 174 |

### Ratios

| Item | Mar 2007 | Mar 2008 | Mar 2009 | Mar 2010 | Mar 2011 | Mar 2012 | Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Debtor Days | 93 | 96 | 101 | 91 | 92 | 64 | 71 | 71 | 74 | 58 |
| Cash Conversion Cycle | 93 | 96 | 101 | 91 | 92 | 64 | 71 | 71 | 74 | 58 |
| Working Capital Days | 21 | 51 | 28 | 75 | -29 | -65 | -201 | 32 | -12 | -82 |
| ROCE % | 18 | 17 | 15 | 10 | 5 | 6 | 5 | 8 | 7 | 4 |

## Shareholding Pattern

### annual

| Category | Mar 2017 | Jun 2017 |
| --- | --- | --- |
| Promoters | 2.63% | 2.63% |
| FIIs | 2.42% | 2.42% |
| DIIs | 32.26% | 32.23% |
| Public | 62.69% | 62.72% |
| No. of Shareholders | 79390 | 78377 |

### Quarterly

| Category | Jun 2016 | Sep 2016 | Dec 2016 | Mar 2017 | Jun 2017 |
| --- | --- | --- | --- | --- | --- |
| Promoters | 49.72% | 12.14% | 12.14% | 2.63% | 2.63% |
| FIIs | 5.12% | 2.42% | 2.44% | 2.42% | 2.42% |
| DIIs | 1.2% | 32.17% | 32.17% | 32.26% | 32.23% |
| Public | 43.97% | 53.27% | 53.25% | 62.69% | 62.72% |
| No. of Shareholders | 78797 | 77749 | 79192 | 79390 | 78377 |

## 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) | 0.51 | Sell |
| EMA (10) | 0.51 | Sell |
| SMA (20) | 0.53 | Sell |
| EMA (20) | 0.52 | Sell |
| SMA (50) | 0.55 | Sell |
| EMA (50) | 0.55 | Sell |
| SMA (100) | 0.58 | Sell |
| EMA (100) | 0.58 | Sell |
| SMA (200) | 0.63 | Sell |
| EMA (200) | 0.63 | Sell |

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

| Indicator | Value | Signal |
| --- | --- | --- |
| RSI (14) | 36.97 | Neutral |
| MACD (12,26,9) | -0.02 | Sell |
| Stochastic (14,3,3) | 4.17 | Buy |
| ADX (14) | 24.19 | Neutral |
| Williams %R (14) | -87.5 | Buy |
| ATR (14) | 0.02 | High Volatility |
| ROC (12) | -9.09 | Sell |
| Stoch RSI (14) | 39.88 | Neutral |
| UO (7,14,28) | 35.06 | Neutral |

## Filings & Documents

### Other Documents

| Date | Document |
| --- | --- |
| 30 May 2017 - Pursuant to the SEBI (Listing Obligation and Disclosure Requirements) Regulations, 2015, we hereby inform you that the Board of the Company, at its meeting held … | [Change in Directorate 30 May 2017 - Pursuant to the SEBI (Listing Obligation and Disclosure Requirements) Regulations, 2015, we hereby inform you that the Board of the Company, at its meeting held …](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=ea3d604d-8da1-4e33-b667-137e18215b2b.pdf) |
| 30 May 2017 - Listing Obligation and Disclosure Requirements) Regulations, 2015, we hereby inform you that the Board of the Company, at its meeting held today has: | [Change in Directorate 30 May 2017 - Listing Obligation and Disclosure Requirements) Regulations, 2015, we hereby inform you that the Board of the Company, at its meeting held today has:](https://www.bseindia.com/xml-data/corpfiling/CorpAttachment/2017/5/ea3d604d-8da1-4e33-b667-137e18215b2b.pdf) |
| 27 Jun 2017 - Reply to Clarification sought by letter bearing reference no. L/SURV/ONL/PV/PA/2017-2018/44 dated June 20, 2017 issued by BSE Limited wherein we have been requested to furnish … | [Updates 27 Jun 2017 - Reply to Clarification sought by letter bearing reference no. L/SURV/ONL/PV/PA/2017-2018/44 dated June 20, 2017 issued by BSE Limited wherein we have been requested to furnish …](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=3c5ab862-0275-4364-9db7-04a6e09b0b18.pdf) |
| 27 Jun 2017 - Reply to Clarification sought by letter bearing reference no. L/SURV/ONL/PV/PA/2017-2018/44 dated June 20, 2017 issued by BSE Limited wherein we have been requested to furnish … | [Updates 27 Jun 2017 - Reply to Clarification sought by letter bearing reference no. L/SURV/ONL/PV/PA/2017-2018/44 dated June 20, 2017 issued by BSE Limited wherein we have been requested to furnish …](https://www.bseindia.com/xml-data/corpfiling/CorpAttachment/2017/6/3c5ab862-0275-4364-9db7-04a6e09b0b18.pdf) |
| 27 Jun 2017 - (I) Mr. Vinesh Narandas Davda has tendered his resignation as a Non-executive Independent Director of the Company with effect from April 24, 2017; (ii) Dr. … | [Change in Directorate 27 Jun 2017 - (I) Mr. Vinesh Narandas Davda has tendered his resignation as a Non-executive Independent Director of the Company with effect from April 24, 2017; (ii) Dr. …](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=1bd0e464-2aad-4f2d-8599-448e40e927b7.pdf) |
| 27 Jun 2017 - (I) Mr. Vinesh Narandas Davda has tendered his resignation as a Non-executive Independent Director of the Company with effect from April 24, 2017; (ii) Dr. … | [Change in Directorate 27 Jun 2017 - (I) Mr. Vinesh Narandas Davda has tendered his resignation as a Non-executive Independent Director of the Company with effect from April 24, 2017; (ii) Dr. …](https://www.bseindia.com/xml-data/corpfiling/CorpAttachment/2017/6/1bd0e464-2aad-4f2d-8599-448e40e927b7.pdf) |
| — | [Outcome of Board Meeting 30 May 2017](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=ad64ebc5-e992-472e-9e48-dd149737f46e.pdf) |
| — | [Outcome of Board Meeting 30 May 2017](https://www.bseindia.com/xml-data/corpfiling/CorpAttachment/2017/5/ad64ebc5-e992-472e-9e48-dd149737f46e.pdf) |

### Annual Reports

| Date | Document |
| --- | --- |
| from nse | [Annual Report 2013 from nse](https://archives.nseindia.com/annual_reports/AR_1037_GTOFFSHORE_2012_2013_19082013173104.zip) |
| from nse | [Annual Report 2012 from nse](https://archives.nseindia.com/annual_reports/AR_GTOFFSHORE_2011_2012_14092012071923.zip) |
| from nse | [Annual Report 2010 from nse](https://archives.nseindia.com/annual_reports/AR_GTOFFSHORE_2009_2010_18082010121500.zip) |
| from bse | [Annual Report 2016 from bse](https://www.bseindia.com/bseplus/AnnualReport/532786/5327860316.pdf) |
| from bse | [Annual Report 2015 from bse](https://www.bseindia.com/bseplus/AnnualReport/532786/5327860315.pdf) |
| from bse | [Annual Report 2014 from bse](https://www.bseindia.com/bseplus/AnnualReport/532786/5327860314.pdf) |
| from bse | [Annual Report 2013 from bse](https://www.bseindia.com/bseplus/AnnualReport/532786/5327860313.pdf) |
| from bse | [Annual Report 2012 from bse](https://www.bseindia.com/bseplus/AnnualReport/532786/5327860312.pdf) |
| from bse | [Annual Report 2011 from bse](https://www.bseindia.com/bseplus/AnnualReport/532786/5327860311.pdf) |
| from bse | [Annual Report 2010 from bse](https://www.bseindia.com/bseplus/AnnualReport/532786/5327860310.pdf) |

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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 2026-09-13T19:03:42.499Z.