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] Audited Standalone and Consolidated ....
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▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Garware Offshore Services reported audited standalone revenue of Rs. 3,572.49 lakhs for FY2026, up 9% from Rs. 3,274.96 lakhs in FY2025. However, the company recorded a significant standalone net loss of Rs. 1,170.20 lakhs compared to a loss of Rs. 796.09 lakhs in the previous year. On consolidated basis, revenue grew 10.9% to Rs. 3,691.36 lakhs, but net loss stood at Rs. 928.93 lakhs versus net profit of Rs. 364.95 lakhs in FY2025. The loss widened due to Rs. 256 lakhs forex loss on USD loans, Rs. 144 lakhs one-time depreciation catch-up, and increased finance costs of Rs. 443.29 lakhs. The statutory auditors issued an unmodified (clean) opinion. Cash flow from operations remained positive at Rs. 855.43 lakhs standalone.
The stock may face negative sentiment due to significantly widened losses despite revenue growth, indicating operational challenges in the offshore vessel charter business. However, clean audit opinion and positive operating cashflow provide some comfort.