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Global Offshore Services
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Incorporated in Sep.'76, Global Offshore Services Limited(formerly known Garware Shipping Corporation Limited) was promoted by B D Garware, which belonged to the Garware Group. The Company is involved in the business of Owning, Operating and chartering offshore support vessels. Apart from this, it is providing offshore support services to exploration and production Companies. Its vessels support oil and gas exploration activities as well as offshore projects. The Platform Supply Vessels ( PSVs) owned and operated by the Company and its subsidiary are deployed in India and West Africa.
The company came out with a rights issue at a premium of Rs 8, aggregating Rs 9.07 cr, to strengthen its resources for long-term use and meet working capital requirements.
In Mar.'90, GSCL embarked upon an expansion programme estimated to cost Rs 15 cr to acquire three conventional cargo ships. The trend of increased charter hire earnings continued during the year. The company plans to increase its tonnage and is looking for the right opportunity.
The company came out with a rights issue in 1994 at a premium of Rs 12 to finance its modernisation and capital expenditure. The company vessel, M V Shivneri, ran aground in Oct.'94 which was declared a constructive total loss by the insurance company.
The Company acquired a Platform Supply Vessel (PSV) from a Norwegian Shipping Company during the year 2005. Effective from 16 January, 2006, name of the Company was changed to 'Garware Offshore Services Limited'.
The Company's first newly constructed Platform Supply Vessel, built by Havyard Leirvik AS, M.V. Kailash, was delivered in Nov' 06. The fourth Platform Supply Vessel, 'M.V. Mana' was delivered in June, 2008. The Company set up a WOS at Singapore viz. 'Garware Offshore International Services Pte. Ltd.' (GOISPL) on 2nd July, 2007. Through the Memorandum of Understanding signed with Havyard Leirvik AS for the marketing and sale of designs of Ships, the Company marketed 4 Havyard designs to an Indian Shipyard during period 2007-08.
During the year 2009, additional 5 vessels were introduced to the fleet comprising of M.V. Mana', M.V. Poorna, M.V. Meghna', M.V. Makalu' and M.V. Mahananda'. The Company acquired and subsequently sold the Accommodation Work Barge, viz., Beau Geste which was on a Bareboat charter with the Company since 2009.
In 2010-11, the Company sold its second hand Platform Supply Vessel 'M.V. Everest' in January, 2010. It sold its second hand Platform Supply Vessel M.V. Mana' in 2011. The Company's wholly owned subsidiary in The Netherlands took delivery of one Large Platform Supply Vessel, M.V.Beaucephalus' in December, 2010. The Company established a Wholly Owned Subsidiary in The Netherlands, viz., Global Offshore Services B.V., (GOSBV) in 2011.
Two of the Company's Anchor Handling Tug cum Supply Vessels (AHTSVs) viz., M.V.Poorna & M.V.Mahananda commenced their operations in 2012. GOSBV acquired 3 Vessels viz M. V. Shergar, M.V. Everest and M.V. Ben Nevis during the year 2012-13. The Company acquired two vessels, one in Global Offshore Services Limited and one in the Netherland subsidiary during 2014-15. Additionally, it acquired one new AHTSV, which is presently trading in the spot market during the year 2015.
During the year 2019-20, in conjunction with the Banks, 2 Vessels owned by the Subsidiary in the Netherlands were sold. Of the 9 Vessels being operated on a consolidated basis at the end of March 2020, 7 Vessels were on Term Contract, 1 was trading in the 'spot market' in the North Sea, and 1 was scheduled to be reactivated in a Yard in the UK.
During the year 2022-23, 3 of 6 vessels were sold during the year. 'Post' the year 2022-23, in May, 2023, one additional vessel was sold.
Global Offshore Services share price reflects investor sentiment toward the company and is impacted by various factors such as financial performance, market trends, and economic conditions. Share price is an indicator which shows the current value of the company's shares at which buyers or sellers can transact.
Market capitalization of Global Offshore Services indicates the total value of its outstanding shares. Marketcap is calculated by multiplying share price and outstanding shares of the company. It is a helpful metric for assessing the company's size and market Valuation. It also helps investors understand how Global Offshore Services is valued compared to its competitors.
Global Offshore Services PE ratio helps investors understand what is the market value of each stock compared to Global Offshore Services 's earnings. A PE ratio higher than the average industry PE could indicate an overvaluation of the stock, whereas a lower PE compared to the average industry PE could indicate an undervaluation.
The PEG ratio of Global Offshore Services evaluates its PE ratio in relation to its growth rate. A PEG ratio of 1 indicates a fair value, a PEG ratio of less than 1 indicates undervaluation, and a PEG ratio of more than 1 indicates overvaluation.
Return on Equity (ROE) measures how effectively Global Offshore Services generates profit from shareholders' equity. A higher ROE of more than 20% indicates better financial performance in terms of profitability.
Return on Capital Employed (ROCE) evaluates the profitability of Global Offshore Services in relation to its capital employed. In simple terms, ROCE provides insight to investors as to how well the company is utilizing the capital deployed. A high ROCE of more than 20% shows that the business is making profitable use of its capital.
Total debt of Global Offshore Services shows how much the company owes to either banks or individual creditors. In simple terms, this is the amount the company has to repay. Total debt can be a very useful metric to show the financial health of the company. Total debt more than equity is considered to be a bad sign.
The Debt-to-Equity (DE) ratio of Global Offshore Services compares its total debt to shareholders' equity. A higher Debt to Equity ratio could indicate higher financial risk, while a lower ratio suggests that the company is managing its debt efficiently.
CAGR shows the consistent growth rate of Global Offshore Services over a specific period, whether it is over a month, a year, or 10 years. It is a key metric to evaluate the company’s long-term growth potential. Main metrics for which CAGR is calculated are net sales, net profit, operating profit, and stock returns.
Technical analysis of Global Offshore Services helps investors get an insight into when they can enter or exit the stock. Key components of Global Offshore Services Technical Analysis include:
There are usually multiple support levels, but the main support levels for a stock are S1, S2, S3. Support levels indicate price points where stock might get support from buyers, helping the stock stop falling and rise.
There are usually multiple resistance levels, but the main resistance levels for a stock are R1, R2, R3. Resistance levels represent price points where Global Offshore Services shares often struggle to rise above due to selling pressure.
Dividends refer to the portion of the company’s profits distributed to its shareholders. Dividends are typically paid out in cash and reflect Global Offshore Services ’s financial health and profitability.
Bonus shares are usually given by companies to make the stock more affordable, increase liquidity, boost investor confidence, and more.
Stock split increases the number of its outstanding shares by dividing each existing share into multiple shares. When the company offers a stock split, the face value of the stock reduces in the same proportion as the split ratio.
The financials of Global Offshore Services provide a complete view to investors about its net sales, net profit, operating profits, expenses, and overall financial health. Investors can analyze financial data to assess the company’s stability and also understand how the company has been growing financially.
The profit and loss statement of Global Offshore Services highlights its net sales, net profit, total expenditure, and operating profits in the current financial year. This Profit and Loss statement is crucial for evaluating the profitability and financial stability of Global Offshore Services .
The balance sheet presents a snapshot of Global Offshore Services ’s assets, liabilities, and equity of shareholders, providing insights into the financials of the company.
Cashflow statements track the company's cash inflows and outflows over a period. It is an essential tool for understanding how well the company manages its liquidity and finances.
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