This is to inform that at the meeting of the Board of Directors of the Company held today, the following items were considered and approved. 1] Pursuant to provisions of SEBI (Listing ....
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The Board approved unaudited standalone and consolidated financial results for Q3 and nine months ended December 31, 2025. On a standalone basis, Q3 revenue grew sharply to Rs. 1,224.37 lakhs from Rs. 813.33 lakhs a year earlier, but the company swung to a net loss of Rs. 189.04 lakhs in the quarter (vs profit of Rs. 958.08 lakhs in Q3 FY25). For the nine months, standalone net loss stood at Rs. 627.84 lakhs against a profit of Rs. 549.51 lakhs last year. Consolidated nine-month PAT was also a loss of Rs. 696.11 lakhs. The statutory auditor flagged an Emphasis of Matter that subsidiary Garware Offshore International Services Pte. Ltd. has a negative net worth of Rs. 388.79 lakhs, raising going concern doubts. The Board also deferred the NSE listing application filing to May 2026, citing unmet eligibility criteria.
Sharp swing from profit to loss at the standalone level and the going concern flag on the subsidiary are negative signals for shareholders. The deferral of the NSE listing means shareholders will not get the additional liquidity/visibility benefit in the near term.