Garware Marine Reports Profit and Financial Support for GOSL

Revenue from operations stood at Rs 23.00 lakh for the quarter ended September 30, 2026, with a net profit of Rs 2.38 lakh.

Reader Takeaway: Company posts steady quarterly profit while expanding its corporate guarantee commitment for group entity GOSL.

What just happened

Garware Marine Industries has released its unaudited standalone financial results for the quarter ending September 30, 2026. Alongside these results, the board cleared significant financial backing for Garware Offshore Services Limited (GOSL).

Why this matters

The board approved a corporate guarantee of Rs 45.35 crore in favor of Kotak Mahindra Bank to support GOSL. This replaces a previous Rs 10 crore guarantee. The company will earn a 0.50% p.a. commission on the enforceable limit. Additionally, an inter-corporate deposit (ICD) of up to Rs 20 lakh has been sanctioned to GOSL for working capital needs, with Rs 11.50 lakh already disbursed.

Financial Highlights

For the quarter, revenue was Rs 23.00 lakh with a basic EPS of Rs 0.04. For the half-year period, total revenue reached Rs 54.39 lakh, resulting in a net profit of Rs 9.75 lakh and an EPS of Rs 0.17.

Governance and Audit

The results were reviewed by the Audit Committee and approved by the board on November 4, 2026. Statutory auditors D. Kothary & Co. conducted the limited review under Indian Accounting Standards (Ind AS).