GO
Garware Offshore Services
Transport Services
501848 BSE
₹40.73
Close ·
- P/E
- Not meaningful: loss-making over the last twelve months
Close 4 Nov 2026 ₹40.73 −29.97 −42.4% 1Y
Start ₹70.70
Key Fundamentals
MicrocapTransport ServicesServicesPrice-based figures at the close · EPS basis: Standalone · TTM
- ROCE
- −3.71%
- Debt to Equity
- 0.48
- EPS (TTM)
- −₹3.18
- Book Value
- ₹40.66
- Market Cap
- —
- P/E (TTM)
- Not meaningful: loss-making over the last twelve months
- P/B
- 1.00
- ROE
- −8.76%
- Dividend Yield
- 0.00%
- EBITDA
- ₹7.70 Cr
- 52W High
- ₹74.00
- 52W Low
- ₹31.00
Tapetide Score
Data-driven rating, 0–100, as of . How it works →
Overall score
37 Weak
Data confidence 93/100
Category scores
- Quality
- 15
- Poor
- Returns, margins, earnings quality 22% weight
- Valuation
- 37
- Weak
- Cheap vs sector & own history 24% weight
- Growth
- 82
- Strong
- Sales & profit trajectory 9% weight
- Financial Health
- 17
- Poor
- Solvency, leverage, coverage 9% weight
- Momentum
- 40
- Weak
- Trend strength, vol-adjusted 12% weight
- Ownership
- 50
- Average
- FII/DII/promoter flows 24% weight
The Tapetide Score is data analysis, not investment advice. Tapetide is not a SEBI-registered research analyst or investment adviser.
Key Insights
Strengths
2- Stock is trading at 0.87 times its book value
- Company is expected to give good quarter
Weaknesses
5- Company has low interest coverage ratio.
- The company has delivered a poor sales growth of -10.2% over past five years.
- Promoter holding is low: 30.3%
- Company has a low return on equity of -6.53% over last 3 years.
- Debtor days have increased from 66.8 to 85.5 days.
Technical Indicators
| Group | Signal | Bearish | Neutral | Bullish |
|---|---|---|---|---|
| Overall | Neutral | 7 | 5 | 7 |
| Oscillators | Bullish | 1 | 5 | 3 |
| Moving Averages | Strong Bearish | 6 | 0 | 4 |
Oscillators
Bullish
Bearish
1
Neutral
5
Bullish
3
Overall
Neutral
Bearish
7
Neutral
5
Bullish
7
Moving Averages
Strong Bearish
Bearish
6
Neutral
0
Bullish
4
Key readings
- RSI (14)
- 55.13
- Neutral
- MACD (12,26,9)
- −1.46
- Bullish
- SMA (50)
- 42.35
- Bearish
- SMA (200)
- 46.70
- Bearish
As of
Growth Rate
From the financial statements below. 10Y, 5Y, 3Y: compound annual growth to Mar 2026; 1Y: fiscal year to Mar 2026 against Mar 2025; TTM: four quarters to Jun 2026 against Jun 2025.
Revenue
| 10Y | −13.91% |
|---|---|
| 5Y | −10.21% |
| 3Y | +6.45% |
| 1Y | +9.07% |
| TTM | +51.17% |
Net profit
| 10Y | Turned to loss |
|---|---|
| 5Y | Loss narrowed by ₹5.52 Cr |
| 3Y | Turned to loss |
| 1Y | Loss widened by ₹3.74 Cr |
| TTM | Loss narrowed by ₹0.98 Cr |
Operating cash flow
| 10Y | −18.46% |
|---|---|
| 5Y | −4.98% |
| 3Y | Turned positive |
| 1Y | Turned positive |
| TTM | — |
TTM: Reported once a year, so there is no trailing-twelve-month figure.
Operating margin· change in pp
| 10Y | −24.01 pp |
|---|---|
| 5Y | −4.93 pp |
| 3Y | +76.67 pp |
| 1Y | −0.66 pp |
| TTM | +20.42 pp |
Revenue by year
| Mar 2017 | ₹98.49 Cr |
|---|---|
| Mar 2018 | ₹76.26 Cr |
| Mar 2019 | ₹64.82 Cr |
| Mar 2020 | ₹70.80 Cr |
| Mar 2021 | ₹61.20 Cr |
| Mar 2022 | ₹47.35 Cr |
| Mar 2023 | ₹29.61 Cr |
| Mar 2024 | ₹29.96 Cr |
| Mar 2025 | ₹32.75 Cr |
| Mar 2026 | ₹35.72 Cr |
Net profit by year
| Mar 2017 | ₹4.31 Cr |
|---|---|
| Mar 2018 | −₹152 Cr |
| Mar 2019 | −₹71.76 Cr |
| Mar 2020 | −₹64.83 Cr |
| Mar 2021 | −₹17.22 Cr |
| Mar 2022 | −₹62.05 Cr |
| Mar 2023 | ₹172 Cr |
| Mar 2024 | −₹121 Cr |
| Mar 2025 | −₹7.96 Cr |
| Mar 2026 | −₹11.70 Cr |
Quarterly Results
₹ Cr| Particulars | Jun 2023 | 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 | 6.61 | 7.8 | 7.86 | 7.69 | 8.39 | 7.26 | 8.13 | 8.97 | 4.25 | 6.74 | 12.24 | 12.48 | 11.79 |
| Expenses | 7.15 | 5.74 | 6.87 | 7.99 | 6.71 | 5.68 | 7.14 | 6.48 | 6.27 | 4.83 | 7.82 | 9.53 | 7.64 |
| Operating Profit | −0.54 | 2.06 | 0.99 | −0.3 | 1.68 | 1.58 | 0.99 | 2.49 | −2.02 | 1.91 | 4.42 | 2.95 | 4.15 |
| OPM % | −8.17% | 26.41% | 12.6% | −3.9% | 20.02% | 21.76% | 12.18% | 27.76% | −47.53% | 28.34% | 36.11% | 23.64% | 35.2% |
| Other Income | −2.77 | −0.21 | 0.04 | −104 | 0.04 | 0.05 | 0.05 | 0.6 | 0.79 | 2.71 | 0.61 | 0.31 | 0.17 |
| Interest | 0.75 | 0.11 | 0.49 | 0.68 | 0.47 | 0.37 | 0.37 | 0.63 | 0.48 | 0.61 | 1.73 | 1.61 | 1.51 |
| Depreciation | 2.89 | 3.12 | 3.14 | 3.12 | 3.17 | 3.41 | 3.49 | 3.44 | 2.95 | 3.55 | 5.08 | 6.51 | 5.61 |
| PBT | −6.95 | −1.38 | −2.6 | −108 | −1.92 | −2.15 | −2.82 | −0.98 | −4.66 | 0.46 | −1.78 | −4.86 | −2.8 |
| Tax % | 0.29% | 1.45% | 0.38% | 1.78% | 1.04% | 0.93% | 1.06% | 2.04% | 2.15% | 19.57% | 6.18% | 11.52% | 1.79% |
| Net Profit | −6.97 | −1.4 | −2.61 | −110 | −1.94 | −2.17 | −2.85 | −1 | −4.76 | 0.37 | −1.89 | −5.42 | −2.86 |
| EPS (₹) | −2.82 | −0.57 | −1.06 | −44.47 | −0.76 | −0.83 | −1.08 | −0.33 | −1.55 | 0.12 | −0.61 | −1.76 | −0.93 |
Profit & Loss
₹ Cr| Particulars | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 89.92 | 160 | 98.49 | 76.26 | 64.82 | 70.8 | 61.2 | 47.35 | 29.61 | 29.96 | 32.75 | 35.72 | 43.25 |
| Expenses | 46.06 | 88.81 | 65.86 | 63.95 | 50.14 | 48.28 | 45.69 | 46.41 | 46.27 | 27.71 | 25.85 | 28.43 | 29.82 |
| Operating Profit | 43.86 | 70.98 | 32.63 | 12.31 | 14.68 | 22.52 | 15.51 | 0.94 | −16.66 | 2.25 | 6.9 | 7.29 | 13.43 |
| OPM % | 48.78% | 44.42% | 33.13% | 16.14% | 22.65% | 31.81% | 25.34% | 1.99% | −56.26% | 7.51% | 21.07% | 20.41% | 31.05% |
| Other Income | 1.5 | 0.42 | 14.55 | −119 | −35.92 | −40.31 | 12.3 | −15.75 | 217 | −107 | 0.74 | 4.41 | 3.8 |
| Interest | 9.46 | 18.79 | 20.04 | 21.41 | 27.07 | 24.6 | 18.07 | 18.72 | 3.23 | 2.07 | 2.01 | 4.45 | 5.46 |
| Depreciation | 13.36 | 22.39 | 22.59 | 23.69 | 23.42 | 24.32 | 26.41 | 28.24 | 24.14 | 12.27 | 13.51 | 18.1 | 20.75 |
| PBT | 22.54 | 30.22 | 4.55 | −152 | −71.73 | −66.71 | −16.67 | −61.77 | 173 | −119 | −7.88 | −10.85 | −8.98 |
| Tax % | 8.21% | 0.69% | 5.05% | 0% | 0.06% | −2.83% | 3.3% | 0.45% | 0.78% | 1.66% | 1.02% | 7.83% | — |
| Net Profit | 20.68 | 30.01 | 4.31 | −152 | −71.76 | −64.83 | −17.22 | −62.05 | 172 | −121 | −7.96 | −11.7 | −9.8 |
| EPS (₹) | 8.36 | 12.14 | 1.74 | −61.31 | −29.02 | −26.22 | −6.96 | −25.09 | 69.55 | −48.91 | −2.6 | −3.81 | −3.18 |
| Div. Payout % | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | — |
Balance Sheet
₹ Cr| Particulars | 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 | 24.73 | 24.73 | 24.73 | 24.73 | 24.73 | 24.73 | 24.73 | 24.73 | 24.73 | 24.73 | 30.64 | 30.74 |
| Reserves | 354 | 386 | 390 | 238 | 167 | 102 | 84.82 | 22.88 | 195 | 73.9 | 108 | 97.26 |
| Borrowings | 298 | 401 | 376 | 370 | 389 | 417 | 397 | 408 | 39.14 | 23.98 | 17.26 | 60.88 |
| Other Liabilities | 30.97 | 19.96 | 25.45 | 45.64 | 62.05 | 93.76 | 106 | 128 | 26.04 | 18.81 | 12.46 | 16.19 |
| Total Liabilities | 708 | 832 | 816 | 679 | 642 | 638 | 612 | 584 | 285 | 141 | 169 | 205 |
| Fixed Assets | 403 | 545 | 519 | 492 | 463 | 451 | 453 | 429 | 129 | 120 | 116 | 173 |
| CWIP | 4.66 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Investments | 205 | 205 | 205 | 113 | 113 | 113 | 113 | 113 | 113 | 0.14 | 0.36 | 0.3 |
| Other Assets | 95.3 | 82.07 | 92.67 | 73.04 | 65.9 | 73.16 | 46.26 | 41.29 | 42.57 | 21.16 | 52.75 | 31.31 |
| Total Assets | 708 | 832 | 816 | 679 | 642 | 638 | 612 | 584 | 285 | 141 | 169 | 205 |
Cash Flow
₹ Cr| Particulars | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating | 44.64 | 65.84 | 47.71 | 7.08 | 12.05 | 24.57 | 11.04 | 10.74 | −1.01 | 12.53 | −0.4 | 8.55 |
| Investing | −8.57 | −159 | −12.73 | −0.89 | −8.31 | −12.25 | −3.58 | −4.73 | 66.02 | 11.97 | −11.01 | −69.42 |
| Financing | −23.39 | 86.6 | −39.79 | −4.17 | −4.33 | −6.97 | −11.96 | −2.4 | −69.29 | −25.44 | 40.27 | 37.83 |
| Net Cash Flow | 12.68 | −6.46 | −4.82 | 2.02 | −0.58 | 5.35 | −4.5 | 3.61 | −4.28 | −0.94 | 28.86 | −23.03 |
| Free Cash Flow | 67.04 | −93.25 | 47.36 | 6.04 | 3.27 | 11.69 | 7.3 | 5.96 | 65.01 | 24.44 | −11.07 | −65.73 |
| CFO/EBITDA | 102 | 93 | 152 | 73 | 79 | 105 | 58 | 1,244 | 1 | 364 | 3 | 127 |
Ratios
| Particulars | 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 | 104 | 64 | 81.09 | 64.28 | 59.86 | 69.6 | 92.2 | 65.45 | 44.5 | 55.92 | 58.96 | 85.53 |
| Cash Conversion Cycle | 104 | 64 | 81.09 | 64.28 | 59.86 | 69.6 | 92.2 | 65.45 | 44.5 | 55.92 | 58.96 | 85.53 |
| Working Capital Days | −127 | −76.23 | −207 | −675 | −1,239 | −1,652 | −2,365 | −3,721 | −310 | −304 | −135 | −76.43 |
| ROCE % | 4.72% | 6.58% | 1.36% | −1.38% | −1.35% | −0.16% | −1.98% | −5.62% | −11.39% | −1.22% | −4.41% | −3.71% |
Insights
BetaAI-extracted from concalls & annual reports · figures as reported, with sources
Log in to view Garware Offshore Services insights
31 extracted metrics across FY15–FY27.
Documents
- 29 Sep 2023
- 24 Aug 2022
- 28 May 2021
- 12 Mar 2020
- 24 Dec 2018
- General announcements 27 Oct 2026
- General announcements 9 Oct 2026
Frequently Asked Questions about Garware Offshore Services
What does Garware Offshore Services Ltd do?
Incorporated in 1976, Garware Offshore Services Ltd is in the business of charter of offshore support vessels.
Where is Garware Offshore Services Ltd (GARWAOFFS) listed?
Garware Offshore Services Ltd trades under code 501848 on the BSE.
Which sector does Garware Offshore Services Ltd belong to?
Garware Offshore Services Ltd is classified under the Transport Services sector, in the Shipping industry.
What is the 52-week high and low of Garware Offshore Services Ltd?
Over the last 52 weeks Garware Offshore Services Ltd has traded between ₹31 and ₹74 as of 4 Nov 2026.
What is the Return on Equity (ROE) of Garware Offshore Services Ltd?
Garware Offshore Services Ltd reported a return on equity of -8.76%. Its debt-to-equity ratio is 0.48.
Company Information
Incorporated in 1976, Garware Offshore Services Ltd is in the business of charter of offshore support vessels.
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