Kindly take on your record the outcome of the Board Meeting held today, 31st October, 2025. The Board has approved the unaudited financial results for the quarter and six months ended ....
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Garware Marine Industries' board approved its unaudited financial results for the quarter and six months ended 30th September 2025, reviewed by statutory auditor D. Kothary & Co. with a clean (unqualified) limited review report. Revenue from operations stood at about Rs. 52 lakhs in Q2 FY26 and Rs. 106 lakhs for H1 FY26, a meaningful decline compared to the prior-year periods. Profit after tax for H1 FY26 was roughly Rs. 8 lakhs versus about Rs. 22 lakhs in H1 FY25, indicating pressure on the bottom line. The company disclosed it has given a corporate guarantee of Rs. 10 crore on behalf of Global Offshore Services Ltd (GOSL) against a Rs. 40 crore term loan from Kotak Mahindra Bank to GOSL, for which it will earn a guarantee commission. Net cash from operating activities was negative for H1 FY26 (Rs. -2.50 lakhs), continuing the trend from the previous year, and total equity dipped slightly to Rs. 1,648 lakhs from Rs. 1,795 lakhs at March 2025.
The sharp fall in both revenue and profit signals weakening core business performance, which is negative for shareholders. The Rs. 10 crore corporate guarantee on behalf of GOSL exposes the company to contingent liability risk if GOSL defaults on its Rs. 40 crore loan, though it earns a guarantee commission in return.