Global Offshore Services Secures Rs. 25 Crore Vessel Contract

Global Offshore Services Limited (GOSL) has announced a significant development in its operations, securing a term contract for one of its Platform Supply Vessels (PSV). This move is expected to boost the company's revenue stream in the coming year.

Contract Details

Aspect	Details
Contract Duration	90 days (firm)
Extension Options	Multiple, on mutual basis
Commencement	Scheduled for December 2025
Estimated Annual Value	Rs. 25.00 crores

The contract, set to commence in December 2025, offers a firm duration of 90 days with the potential for multiple extensions based on mutual agreement. This flexibility could potentially lead to a longer-term engagement, providing GOSL with a stable revenue source beyond the initial contract period.

Financial Implications

The estimated annual value of the contract, standing at Rs. 25.00 crores, represents a significant boost to GOSL's potential earnings. This figure underscores the importance of such contracts in the offshore services sector, where vessel utilization and long-term agreements play crucial roles in financial stability.

Industry Outlook

This contract win comes at a time when the offshore services industry continues to navigate through dynamic market conditions. For GOSL, securing such agreements is crucial for maintaining a steady operational tempo and ensuring consistent revenue streams.

While the contract provides a positive outlook for the company's near-term prospects, investors and market watchers will likely keep a close eye on GOSL's ability to secure extensions or additional contracts to sustain and potentially grow its market position in the offshore services sector.

Global Offshore Services Limited's success in securing this contract may be seen as a positive indicator of the company's competitive standing in the offshore services market. However, as with all business developments, the long-term impact will depend on various factors, including market conditions and the company's overall performance in the coming years.

1 Day	5 Days	1 Month	6 Months	1 Year	5 Years
-2.40%	-2.69%	-6.30%	-32.45%	-47.64%	+477.20%

Global Offshore Services Limited has successfully concluded its postal ballot process, with shareholders overwhelmingly approving the appointment of Aditya A. Garware as the company's new Chairman and Managing Director. The scrutinizer's report, released on December 17, 2025, confirms unanimous shareholder support for this key leadership transition.

Postal Ballot Results

The voting results demonstrate exceptional shareholder confidence in the proposed leadership change. According to the scrutinizer's report prepared by Taher Sapatwala & Associates, the resolution received overwhelming support from the company's shareholders.

Voting Details:	Results
Total Valid Votes:	1,09,79,063
Members Participated:	113
Votes in Favor:	1,09,78,865 (100.00%)
Votes Against:	0 (0.00%)
Invalid Votes:	0

Appointment Specifications

The approved appointment establishes Aditya A. Garware's role and tenure as the company's top executive. The shareholders have endorsed a comprehensive leadership mandate for the incoming CMD.

Appointment Terms:	Details
Position:	Chairman and Managing Director
Appointee:	Aditya A. Garware
Term Duration:	3 years
Effective Date:	November 1, 2025
Resolution Type:	Ordinary Resolution

Voting Process

The postal ballot was conducted entirely through remote e-voting, facilitated by Central Depository Services (India) Limited. The voting period extended from November 18, 2025, at 10:00 AM to December 17, 2025, at 5:00 PM, providing shareholders ample opportunity to participate in this crucial decision.

The scrutinizer confirmed that the electronic voting process was conducted in a fair and transparent manner, with proper reconciliation of records maintained by the company and its registrar and transfer agents. The appointment now awaits Central Government approval due to residency requirements under the Companies Act.

This decisive shareholder approval marks a significant milestone in Global Offshore Services Limited's corporate governance, setting the stage for new leadership to guide the company's future strategic direction.