Pursuant to Regulation 34(1)(a) of the SEBI (Listing Obligation and Disclosure Requirements) Regulations, 2015, please find enclosed Annual Report for the year 2024-25 (including Notice ....
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Global Offshore Services Limited filed its 47th Annual Report for FY 2024-25 with BSE, covering standalone and consolidated financial statements, directors' report, and governance disclosures. Revenue from operations rose to Rs. 32.75 crores from Rs. 29.96 crores (up ~9%), but other income fell sharply to Rs. 0.46 crores from Rs. 7.69 crores. EBITDA declined to Rs. 7.18 crores from Rs. 9.91 crores, and the company reported a net loss of Rs. 7.97 crores, though this was a major improvement from Rs. 120.95 crores loss in FY24, largely because prior-year exceptional items of Rs. 114.59 crores did not recur. Both vessels (M.V. Kamet and M.V. Mahananda) operated on long-term contracts on India's east and west coasts. Post-year, the company acquired an additional second-hand AHTS vessel (M.V. Mahanadi) and upgraded M.V. Kamet to DP2. The 47th AGM is scheduled for September 30, 2025 via video conferencing.
For shareholders, the company remains loss-making with accumulated losses of Rs. 181.25 crores, but the annual loss has narrowed sharply thanks to fewer exceptional charges. Modest revenue growth combined with falling other income and lower EBITDA points to margin pressure, while the post-year fleet expansion could support future top-line if utilization stays firm.