Global Offshore Services Ltd

Global Offshore Services Ltd

₹ 52.5 5.00%
23 Feb 4:01 p.m.
About

Incorporated in 1976, Global Offshore Services Ltd is in the business of chartering offshore support vessels[1]

Key Points

Business Operations:[1][2]
Company's vessels support Oil and Gas Exploration efforts involving:
a) Transport of personnel to rigs /
platforms from onshore bases and
vice-versa.
b) Delivery of cargo/material to rigs/
platforms
c) Anchor handling operations
d) Towing of rigs from one location
to another.
e) Support to offshore / underwater
construction projects
f) Company’s vessels support oil and gas exploration activities and offshore projects
g) Platform Supply Vessels owned and operated by the company and its subsidiaries are deployed in India and West Africa
h) Company’s anchor handling tug cum supply vessels (AHTSV) are deployed in India and Brazil

  • Market Cap 130 Cr.
  • Current Price 52.5
  • High / Low 70.4 / 19.6
  • Stock P/E
  • Book Value 85.4
  • Dividend Yield 0.00 %
  • ROCE -11.4 %
  • ROE -33.7 %
  • Face Value 10.0

Pros

  • Company has reduced debt.
  • Stock is trading at 0.61 times its book value
  • Debtor days have improved from 67.4 to 44.5 days.

Cons

  • Company has low interest coverage ratio.
  • The company has delivered a poor sales growth of -17.2% over past five years.
  • Promoter holding is low: 33.3%
  • Company has a low return on equity of -36.4% over last 3 years.
  • Working capital days have increased from -348 days to 125 days

* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.

Peer comparison

Sector: Shipping Industry: Shipping

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Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

Dec 2020 Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023
15.26 16.58 13.05 9.78 10.83 13.69 12.97 9.22 3.33 4.09 6.61 7.80 7.86
11.88 11.79 11.25 12.29 10.97 11.95 12.37 12.69 11.76 9.50 7.15 5.74 6.87
Operating Profit 3.38 4.79 1.80 -2.51 -0.14 1.74 0.60 -3.47 -8.43 -5.41 -0.54 2.06 0.99
OPM % 22.15% 28.89% 13.79% -25.66% -1.29% 12.71% 4.63% -37.64% -253.15% -132.27% -8.17% 26.41% 12.60%
3.61 -2.56 -5.68 0.89 -1.98 -8.98 -20.81 -0.53 -158.47 397.17 -2.77 -0.21 0.04
Interest 4.33 4.21 4.37 4.51 4.63 5.16 6.96 0.84 0.90 -5.54 0.75 0.11 0.49
Depreciation 6.92 6.99 6.24 10.80 5.97 5.23 7.08 7.24 6.34 3.48 2.89 3.12 3.14
Profit before tax -4.26 -8.97 -14.49 -16.93 -12.72 -17.63 -34.25 -12.08 -174.14 393.82 -6.95 -1.38 -2.60
Tax % -0.70% -5.13% -0.14% -0.12% -0.24% -1.19% -0.06% -0.17% -0.01% 0.33% -0.29% -1.45% -0.38%
-4.30 -9.43 -14.51 -16.95 -12.75 -17.84 -34.27 -12.10 -174.16 392.53 -6.97 -1.40 -2.61
EPS in Rs -1.74 -3.81 -5.87 -6.85 -5.16 -7.21 -13.86 -4.89 -70.43 158.73 -2.82 -0.57 -1.06
Raw PDF

Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 TTM
153 177 131 90 160 98 76 65 71 61 47 30 26
68 75 73 46 89 66 64 50 48 46 46 46 29
Operating Profit 85 102 59 44 71 33 12 15 23 16 1 -17 -3
OPM % 56% 58% 45% 49% 44% 33% 16% 23% 32% 25% 2% -56% -11%
2 3 4 2 0 15 -119 -36 -40 12 -16 217 394
Interest 24 23 16 9 19 20 21 27 25 18 19 3 -4
Depreciation 30 23 23 13 22 23 24 23 24 26 28 24 13
Profit before tax 33 59 24 23 30 5 -152 -72 -67 -17 -62 173 383
Tax % 1% 14% 3% 8% 1% 5% 0% -0% 3% -3% -0% 1%
33 50 23 21 30 4 -152 -72 -65 -17 -62 172 382
EPS in Rs 13.43 20.28 9.29 8.36 12.14 1.74 -61.31 -29.02 -26.22 -6.96 -25.09 69.55 154.28
Dividend Payout % 18% 12% 13% 0% 0% 0% 0% 0% 0% 0% 0% 0%
Compounded Sales Growth
10 Years: -16%
5 Years: -17%
3 Years: -25%
TTM: -33%
Compounded Profit Growth
10 Years: %
5 Years: -11%
3 Years: -49%
TTM: 77%
Stock Price CAGR
10 Years: -13%
5 Years: 35%
3 Years: 88%
1 Year: 35%
Return on Equity
10 Years: -6%
5 Years: -25%
3 Years: -36%
Last Year: -34%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Sep 2023
Equity Capital 24 25 25 25 25 25 25 25 25 25 25 25 25
Reserves 256 322 319 354 386 390 238 167 102 85 23 195 186
427 343 334 298 401 376 370 389 417 397 408 39 33
22 31 31 31 20 25 46 62 94 106 128 26 27
Total Liabilities 730 721 709 708 832 816 679 642 638 612 584 285 272
539 502 436 403 545 519 492 463 451 453 429 129 130
CWIP 0 2 0 5 0 0 0 0 0 0 0 0 0
Investments 93 112 156 205 205 205 113 113 113 113 113 113 113
98 105 117 95 82 93 73 66 73 46 41 43 28
Total Assets 730 721 709 708 832 816 679 642 638 612 584 285 272

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
136 44 52 45 66 48 7 12 25 11 11 -1
-107 36 -5 -9 -159 -13 -1 -8 -12 -4 -5 66
-47 -76 -54 -23 87 -40 -4 -4 -7 -12 -2 -69
Net Cash Flow -19 4 -7 13 -6 -5 2 -1 5 -4 4 -4

Ratios

Standalone Figures in Rs. Crores / View Consolidated

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
Debtor Days 81 75 137 104 64 81 64 60 70 92 65 44
Inventory Days
Days Payable
Cash Conversion Cycle 81 75 137 104 64 81 64 60 70 92 65 44
Working Capital Days 10 6 76 12 9 -33 -451 -984 -1,426 -405 -763 125
ROCE % 8% 12% 6% 5% 7% 1% -1% -1% -0% -2% -6% -11%

Shareholding Pattern

Numbers in percentages

Mar 2021Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023
33.29% 33.29% 33.29% 33.29% 33.29% 33.10% 33.29% 33.29% 33.29% 33.29% 33.29% 33.29%
0.57% 0.57% 0.57% 0.93% 1.06% 1.28% 1.58% 1.58% 1.58% 1.97% 1.50% 0.62%
5.25% 5.25% 5.25% 5.25% 5.25% 5.24% 5.24% 5.24% 4.00% 3.21% 1.95% 0.16%
0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 1.26% 0.00% 0.00% 0.00% 0.00%
60.89% 60.89% 60.89% 60.53% 60.41% 60.37% 59.89% 58.62% 61.13% 61.52% 63.27% 65.94%
No. of Shareholders 19,86619,65819,45019,08119,16018,93118,41918,12117,95917,81317,80517,858

* The classifications might have changed from Sep'2022 onwards. The new XBRL format added more details from Sep'22 onwards.

Classifications such as banks and foreign portfolio investors were not available earlier. The sudden changes in FII or DII can be because of these changes.

Click on the line-items to see the names of individual entities.

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