Kindly take on your record the outcome of the meeting held today 19th May, 2025 with the following approvals: 1. approved audited financial results for the quarter and year ended 31st ....
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Garware Marine Industries' board, meeting on May 19, 2025, approved audited financial results for Q4 and full year ended March 31, 2025, with the auditors (D. Kothary & Co.) issuing an un-modified (clean) opinion. FY25 revenue from operations rose sharply to Rs. 120.18 lakhs from Rs. 66.17 lakhs in FY24 (~82% YoY growth), while the company swung from a loss of Rs. (6.81) lakhs in FY24 to a profit of Rs. 43.14 lakhs in FY25, taking EPS to Rs. 0.75. Total assets/equity strengthened on the back of higher investments (Rs. 631.86 to Rs. 1,367.54 lakhs). Separately, the board approved a Rs. 10 crore corporate guarantee in favour of Kotak Mahindra Bank on behalf of Global Offshore Services Limited (GOSL) for banking facilities of Rs. 48.80 crore, and re-appointed internal and secretarial auditors.
The clean audit opinion and return to profitability are positive, but the absolute earnings base remains tiny (Rs. 43 lakhs PAT on Rs. 120 lakhs revenue), and the Rs. 10 crore corporate guarantee for GOSL introduces a fresh contingent liability that shareholders should monitor closely.