Garware Marine Industries

Garware Marine Industries Limited primarily operates in the ship repair sector, generating its main revenue from providing repair services for various vessels. Looking ahead, the company hopes for a recovery in the Offshore Shipping market, which would lead to fleet expansion by its customers and increased business. A key challenge is that its main customer has reduced its fleet size, putting pressure on revenue due to fewer vessels available for repair. To counter this, the company is actively working to broaden its client portfolio to ensure sustainable income and cover operational expenses. The business operations are managed by a specialized 'Flying Squad' team, which is responsible for carrying out the vessel repairs. Financially, the company's total comprehensive income for the year stood at a profit of ₹313.67 Lakhs, a significant turnaround from the previous year's loss.;