GARWARE MARINE INDUSTRIES LTD.

Operates in the textile sector under the 'Other Textile Products' classification, though current operating scale is very small — FY26 revenue was Rs. 1.08 crore, down 9.8% from Rs. 120.18 lakhs in the prior year. Net profit for FY26 fell 66% to Rs. 14.72 lakhs from Rs. 43.34 lakhs. The company's main disclosed revenue activity is guarantee commission on a Rs. 10 crore corporate guarantee it has issued on behalf of Global Offshore Services Ltd against a Rs. 40 crore term loan from Kotak Mahindra Bank, where GOSL is the borrowing entity. Employee costs account for 34.1% of revenue and other operating expenses 55% of revenue, with negligible materials cost, indicating limited current manufacturing or trading activity. The statutory auditor issued a qualified opinion because the company did not set aside expected credit loss on Rs. 355.15 lakhs of trade receivables outstanding over 3 years. The company also recorded mark-to-market losses of Rs. (489.99) lakhs on equity instruments held through OCI in 9M FY26, and cash and cash equivalents stood at just Rs. 2.07 lakhs with negative operating cash flow in FY26. It is BSE-listed with a 6-member board (3 independent directors) and shifted its Mumbai registered office from Fort to Prabhadevi in June 2026.