Garware Marine Industries Limited has announced its unaudited financial results for the quarter and nine months ended December 31, 2025. The Board of Directors approved these results during their meeting held on February 3, 2026, which commenced at 12:00 noon and concluded at 01:55 pm.

Q3FY26 Financial Performance

The company's quarterly performance showed mixed results with revenue growth but declining profitability. Revenue from operations increased to ₹30.30 lakhs in Q3FY26 compared to ₹26.99 lakhs in Q3FY25, representing growth in the top line.

Despite the revenue increase, net profit declined to ₹4.56 lakhs in Q3FY26 from ₹6.42 lakhs in Q3FY25. The company also saw a sequential decline from the previous quarter's profit of ₹9.30 lakhs.

Nine Months Performance Analysis

For the nine months ended December 31, 2025, the company faced challenges with both revenue and profitability declining compared to the previous year.

The nine-month period showed revenue from operations at ₹82.25 lakhs compared to ₹96.64 lakhs in the corresponding period of FY25. Net profit for the nine months was ₹19.56 lakhs, significantly lower than ₹32.63 lakhs achieved in the same period last year.

Expense Structure and Profitability

The company's expense analysis reveals key cost components affecting profitability. Employee benefit expenses for Q3FY26 were ₹9.29 lakhs compared to ₹8.56 lakhs in Q3FY25. Other expenses increased substantially to ₹17.32 lakhs in Q3FY26 from ₹10.54 lakhs in the previous year's quarter.

Total expenses for the quarter amounted to ₹26.68 lakhs versus ₹19.47 lakhs in Q3FY25. For the nine months, total expenses were ₹64.89 lakhs compared to ₹58.17 lakhs in the corresponding period of FY25.

Earnings Per Share and Other Comprehensive Income

Earnings per share for Q3FY26 stood at ₹0.08 compared to ₹0.11 in Q3FY25. For the nine months, EPS was ₹0.34 versus ₹0.57 in the previous year. The company's paid-up equity share capital remained unchanged at ₹576.62 lakhs with a face value of ₹10 per share.

Other comprehensive income showed significant volatility, with a loss of ₹327.85 lakhs in Q3FY26 compared to a gain of ₹351.39 lakhs in Q3FY25, primarily due to equity instruments through other comprehensive income.

Regulatory Compliance and Audit

The financial results were prepared in accordance with Indian Accounting Standards (Ind AS) and reviewed by statutory auditors D. Kothary & Co. The results comply with SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The company noted that the implementation of New Labour Codes effective from November 21, 2025, had no material incremental impact on gratuity liability based on management's assessment and actuarial valuation.

Garware Marine Industries Limited has released its financial results for the first half of the fiscal year, revealing a decline in net profit amid fluctuating revenue. The company has also made a significant move by issuing a corporate guarantee, potentially impacting its financial position.

Financial Performance

For the six months ended September 30, Garware Marine Industries reported the following key financial metrics:

The company's net profit saw a significant decrease of 50.29% compared to the same period last year. However, the total revenue from operations showed an improvement, increasing by 26.97%.

Quarterly Performance

For the quarter ended September, Garware Marine Industries reported:

• Revenue from operations: ₹26.00 lakh
• This represents a 27.58% increase from the previous quarter's revenue of ₹20.38 lakh

Balance Sheet Highlights

As of September 30, the company's financial position showed:

Corporate Guarantee Issuance

In a significant development, Garware Marine Industries has issued a corporate guarantee of ₹100 crore on behalf of Global Offshore Services Ltd (GOSL). This guarantee is against a term loan of ₹400 crore from Kotak Mahindra Bank to GOSL. The company will receive a guarantee commission as agreed with GOSL, potentially providing an additional revenue stream.

Conclusion

While Garware Marine Industries has seen a decline in profitability for the first half, the increase in revenue from operations indicates potential for growth. The corporate guarantee issued may have implications for the company's financial strategy and risk management going forward. Investors and stakeholders will likely be watching closely to see how these developments affect the company's performance in the coming quarters.