Global Offshore Services Ltd

Preferential issue via warrant conversion

• Conversion of warrants into 27,000 equity shares issued to non-promoters on a preferential basis.
• Security: Equity shares of Rs 10 face value, Rs 82 premium, issue price Rs 92 per share.
• Quantity and aggregate value: 27,000 shares; Rs 2,484,000 total.
• Payment terms: shares issued on warrant conversion; no upfront cash disclosed.
• Allottees: Non-promoters; 27,000 shares.
• Mechanism: conversion of warrants into equity shares.
• Nature of consideration: equity shares issued on warrant exercise.
• Approvals: BSE trading approval obtained.
• Trading approval from BSE dated August 21, 2026.
• Distinctive numbers: 30743444 to 30770443.

Charter commencement

• Charter covers one vessel for four years with a possible one-year extension.
• Commencement of operations dated August 17, 2026.

Preferential issue details

• Instrument: 27,000 equity shares of Rs 10 issued at Rs 82 premium on a preferential basis.
• Total shares: 27,000 issued to non-promoters.
• Issue price: Rs 92 per share (Rs 10 face, Rs 82 premium).
• Aggregate amount: Rs 2,484,000.
• Purpose: conversion of warrants into equity for non-promoters.
• Approvals: listing approval obtained for these shares.
• Distinctive numbers: 30743444 to 30770443.

Financial results

• Unaudited standalone and consolidated results for quarter ended 30 June 2026 approved with Limited Review.

AGM

• 48th AGM on 24 September 2026 at 11:30 AM via VC/OAVM.

Capital actions

• 27,000 convertible warrants converted into equity; paid-up capital to Rs 30.77 crore.

Operational developments

• One vessel completed contract with Vedanta Limited.
• Another vessel started short-term contract with Afcons Infrastructure Limited; LOA for four years plus extension.

Audit and regulatory

• Independent Auditor's Review: no material misstatement in standalone or consolidated statements.
• Overseas subsidiary results: revenue Nil; net loss Rs 1.24 Lakhs; total comprehensive income Rs (4.24) Lakhs; not material.
• Two Indian subsidiaries incorporated last year have not yet commenced operations.
• No foreign exchange derivatives exposure.
• No separate reportable segments as per Ind AS 108.

Dematerialisation status and listing

• Securities received for dematerialisation up to 30 June 2026 were confirmed to depositories.
• Securities dematerialised have been listed on the stock exchange where the earlier securities are listed.
• Physical certificates received for dematerialisation were mutilated and cancelled after verification.
• Depository name substituted as registered owner within 15 days of receipt.

Financial Performance

• Board approved unaudited standalone and consolidated financial results for Q3 and nine months ended Dec 31, 2025.
• Consolidated net loss for nine months ended Dec 31, 2025 was Rs. 627.84 lakhs; standalone net loss Rs. 696.11 lakhs.
• Earnings per share for continuing operations (consolidated) was negative Rs. 3.65 basic for Q3 2025.
• Consolidated results include exceptional write-offs: crew salary USD 12,808 and vessel training expenses USD 2,881.43.
• Auditor’s review reports expressed unmodified conclusion on standalone and consolidated results.

Governance & Compliance ️

• Auditor emphasized subsidiary Garware Offshore International Services Pte. Ltd. has negative net worth of Rs. 388.79 lakhs, raising going concern doubts.
• Subsidiary’s unaudited interim financials included in consolidated results; not audited or reviewed by other auditors.
• Implementation of new Indian Labour Codes effective Nov 21, 2025, with no material impact on gratuity liability.

Business Operations & Segment

• Company operates in a single business segment: charter of offshore support vessels.
• No foreign exchange derivatives exposure reported by the company.

Corporate Actions & Decisions

• Filing application for NSE listing deferred until May 2026 due to unmet listing criteria expected by FY 2025-26 end.
• No dividend declared for the period.

Meeting Details ️

• Board meeting held on February 12, 2026, approved results and decisions.

🗓️ Meeting Details

• Board meeting scheduled for February 12, 2026.

📊 Financial Results

• Consideration of unaudited financial results for quarter ended December 31, 2025.