This is further to our communication dated May 25, 2026, regarding receipt of an invitation by the Company for an "Exclusive Conference" which will be jointly hosted by the Ashika Group ....
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▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Garware Offshore Services Limited has shared its May 2026 corporate presentation with BSE ahead of an Exclusive Conference scheduled for June 6, 2026, jointly hosted by Ashika Group and CNI Infoxchange. The company operates 3 offshore vessels (M.V. Kamet, M.V. Mahanadi, M.V. Mahananda) with 2 already on term contracts and a 5-year contract for Kamet under negotiation. Management plans to acquire 2-3 additional mid-size vessels (80 Ton AHTSV / 3000 DWT PSV) between 2026-2028, with one 80 Ton AHTSV already acquired. Financials show Gross Income of Rs. 40.14 crores and EBIDTA of Rs. 11.68 crores for FY25, up from Rs. 33.21 crores and Rs. 7.19 crores in FY24, though net loss widened to Rs. 11.70 crores due to higher depreciation, finance costs, and forex losses. Net debt has been brought down to USD 4.24 million / Rs. 19 crores with asset values estimated at ~USD 19 million after the post-2015 restructuring.
Neutral to mildly positive — the presentation reinforces a growth story built on vessel expansion, improving charter rates, and a deleveraged balance sheet, but widened net losses and dependence on contract wins remain key risks for shareholders to watch.