Global Offshore Services Seeks Shareholder Approval for New CMD Appointment

Global Offshore Services Limited has initiated a significant corporate action, issuing a postal ballot notice to seek shareholder approval for a key leadership appointment. The company aims to install Aditya A. Garware as its new Chairman and Managing Director (CMD) for a three-year term commencing November 1, 2025.

Appointment Details

Aspect	Details
Proposed Position	Chairman and Managing Director
Candidate	Aditya A. Garware
Term Duration	3 years
Proposed Start Date	November 1, 2025
Voting Period	November 18 - December 17, 2025

Regulatory Considerations

The appointment of Aditya A. Garware as CMD faces a unique regulatory hurdle. According to the company's statement, the appointment requires approval from the Central Government. This additional step is necessary because Garware does not meet the residency requirement stipulated under the Companies Act.

Shareholder Voting

Shareholders of Global Offshore Services Limited will have the opportunity to cast their votes on this important decision. The voting process is scheduled to take place over a month-long period, commencing on November 18 and concluding on December 17, 2025.

This move by Global Offshore Services Limited underscores the importance of shareholder participation in key corporate decisions, particularly those involving top leadership appointments. The outcome of this vote could have significant implications for the company's future direction and governance structure.

1 Day	5 Days	1 Month	6 Months	1 Year	5 Years
+2.45%	+3.51%	-9.23%	-30.12%	-48.09%	+704.88%

Global Offshore Services Ltd. (GOSL) has announced significant changes in its leadership and reported its financial results for the quarter ended September 30, 2025. The company's Board of Directors has made a key appointment and disclosed its latest financial performance.

Leadership Change

The Board of Directors, upon recommendation from the Nomination & Remuneration Committee, has appointed Mr. Aditya A. Garware as the new Chairman and Managing Director (CMD) of Global Offshore Services Ltd. This appointment will take effect from November 1, 2025, subject to shareholder and Central Government approvals.

Key details of Mr. Garware's appointment:

Effective Date: November 1, 2025
Position: Chairman and Managing Director
Tenure: Liable to retire by rotation
Current Role: Will continue as a member of the Stakeholders & Relationship Committee

Mr. Garware brings a wealth of experience to his new role:

Board Member since May 1993
Holds an MBA from Lehigh University
Expertise in financial management, vessel marketing, acquisition planning, and ISM-related matters
Currently holds 11,53,353 equity shares, representing 3.75% of the company's share capital

Financial Performance

For the quarter ended September 30, 2025, Global Offshore Services Ltd. reported the following consolidated financial results:

Particulars	Q2 FY2026 (₹ in Lakhs)	Q2 FY2025 (₹ in Lakhs)	YoY Change
Revenue from Operations	674.42	725.60	-7.05%
Other Income	21.50	15.85	35.65%
Total Revenue	695.92	741.45	-6.14%
Total Expenses	901.92	968.51	-6.88%
Profit/(Loss) before Tax	26.95	(207.06)	-
Net Profit/(Loss) for the period	18.31	(208.31)	-

The company's performance shows a slight decline in revenue but a significant improvement in profitability compared to the same quarter last year.

Operational Highlights

GOSL's newly acquired vessel secured a contract for a firm period of 4 months with an extension option for a further 8 months.
The company converted 35,000 Convertible Warrants into equity shares at ₹69 per warrant, increasing the paid-up share capital from ₹30.71 crores to ₹30.74 crores.

Global Offshore Services Ltd. continues to navigate the offshore services market, with strategic leadership changes and operational improvements aimed at enhancing its market position and financial performance.