Overview

Detailed Summary

Garware Marine Industries Ltd (GMIL) is primarily engaged in ship repairs and previously manufactured and marketed fishing nets.
Originally incorporated as Modern Nets Ltd in 1975, the company has undergone significant changes, ceasing fishing net production to focus on ship repair.
The company operates its ship repair division, assisting OEM engineers with various marine engineering tasks, enhancing its niche capabilities in marine services.
Previously, GMIL increased its fish knitted fabric production capacity by 50%, indicating its historical focus on fishing industry support.
As of its recent focus, the company operates mainly from its headquarters in Mumbai with facilities in Ahmednagar, Maharashtra.

Sector: Textiles & Apparels
Industry: Other Textile Products
Market Cap: 12 Cr
Volatility: Low Risk
P/E Ratio: 80.7
Industry P/E: 29.4
PEG Ratio: 0.4
P/B Ratio: 1.2
52W High: 36.50
52W Low: 18.32

Sales CAGR

1Y: 81.82%
3Y: -8.79%
5Y: 1.43%
10Y: 0.39%

Profit CAGR

1Y: 714.29%
3Y: 211.30%
5Y: 40.43%
10Y: 110.75%

ROE

TTM: 1.42%
3Y: 1.30%
5Y: 1.18%
10Y: 0.39%

ROCE

TTM: 1.52%
3Y: 1.29%
5Y: 1.21%
10Y: 1.02%

Technicals

‌

Forecasts

Peers

Consumer Discretionary Textiles Textiles & Apparels Other Textile Products

Symbol	Watchlist	Price	Market Cap	P/E	P/B	Div Yield (%)	ROE (%)	ROCE (%)	ROA (%)
STCORP		4.24	13 Cr	1305.00	1.00	0.00	0.02	0.01	0.05
NIRAJISPAT		213.25	13 Cr	7.96	0.81	0.00	10.20	10.84	7.48
SIIL		—	13 Cr	—	0.18	0.00	-0.26	5.72	0.00
WINSOME		2.55	13 Cr	-0.48	0.00	0.00	6.46	-17.82	-12.19
GARWAMAR		21.77	12 Cr	80.73	1.17	0.00	1.42	1.52	1.41
JINDCOT		—	12 Cr	-2.03	0.06	0.00	-0.66	-0.05	-2.44
SANTOSHF		31.84	11 Cr	561.00	1.92	0.00	0.01	4.58	0.13
Median: 7 Co.	—	21.77	13 Cr	44.34	0.81	0.00	0.02	1.52	0.05

Financial Statements

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Standalone Quarterly Results (in ₹ Crores)

Total Figures

QoQ Changes

Total Figures

	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026
Sales	0.15	0.15	0.41	0.29	0.27	0.24	0.26	0.26	0.30	0.26
Expenses	0.19	0.21	0.18	0.20	0.19	0.19	0.21	0.18	0.27	0.32
Operating Profit	-0.04	-0.06	0.23	0.09	0.08	0.05	0.05	0.08	0.03	-0.06
OPM %	-26.67	-40.00	56.10	31.03	29.63	20.83	19.23	30.77	10.00	-23.08
Other Income	0.05	0.00	0.00	0.00	0.00	0.00	0.00	0.01	0.01	0.01
Interest	0.00	0.00	0.00	0.00	0.00	-0.01	0.00	0.00	0.00	0.00
Depreciation	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Profit Before Tax	0.02	-0.07	0.23	0.09	0.08	0.05	0.06	0.10	0.05	-0.05
Tax %	0.00	0.00	17.39	11.11	12.50	-120.00	0.00	0.00	0.00	0.00
Net Profit	0.02	-0.07	0.19	0.07	0.06	0.11	0.06	0.09	0.05	-0.05
EPS in Rs	0.03	-0.11	0.33	0.12	0.11	0.18	0.10	0.16	0.08	-0.08

Standalone Profit Loss (in ₹ Crores)

Total Figures

YoY Changes

Total Figures

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	TTM
Sales	0.88	1.15	1.25	1.12	1.30	1.58	1.22	0.66	1.20	1.06
Expenses	1.36	0.96	1.02	1.03	1.15	1.57	1.11	0.77	0.77	0.79
Operating Profit	-0.48	0.20	0.23	0.09	0.15	0.01	0.12	-0.11	0.43	0.27
OPM %	-54.88	17.02	18.23	7.86	11.32	0.92	9.70	-16.96	36.14	25.47
Other Income	0.00	0.14	0.02	0.02	0.01	0.01	0.00	0.05	0.00	NaN
Interest	0.05	0.03	0.02	0.01	0.01	0.00	0.00	0.00	0.00	-0.01
Depreciation	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Profit Before Tax	-0.53	0.30	0.22	0.09	0.15	0.02	0.12	-0.07	0.43	0.28
Tax %	-14.97	91.75	2.67	11.39	3.67	8.92	0.26	0.00	0.71	-7.14
Net Profit	-0.61	0.03	0.22	0.08	0.14	0.01	0.12	-0.07	0.43	0.30
EPS in Rs	-1.05	0.05	0.37	0.13	0.25	0.02	0.20	-0.12	0.74	0.26
Dividend Payout %	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	—

Standalone Balance Sheet (in ₹ Crores)

Total Figures

YoY Changes

Total Figures

	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Equity Capital	5.77	5.77	5.77	5.77	5.77	5.77	5.77	5.77	5.77	5.77
Reserves	-0.13	4.84	1.73	0.50	-0.72	-0.02	5.42	2.14	5.28	12
Borrowings	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Other Liabilities	0.60	0.63	0.93	0.85	0.69	0.70	0.29	0.31	0.44	1.22
Total Liabilities	6.24	11	8.43	7.11	5.74	6.44	11	8.22	11	19
Fixed Assets	0.02	0.01	0.02	0.02	0.01	0.01	0.02	0.02	0.01	0.02
CWIP	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Investments	0.89	6.33	3.09	1.64	0.38	0.93	6.54	2.95	6.32	14
Other Assets	5.33	4.90	5.32	5.46	5.35	5.50	4.92	5.25	5.15	5.48
Total Assets	6.24	11	8.43	7.11	5.74	6.44	11	8.22	11	19

Standalone Cash Flows (in ₹ Crores)

Total Figures

YoY Changes

Total Figures

	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Cash from Operating Activity	-0.43	-0.42	-0.18	0.26	-0.01	0.22	0.10	-0.08	-0.02	0.00
Cash from Investing Activity	0.65	0.15	0.04	0.20	0.02	0.01	-0.00	0.00	0.00	-0.01
Cash from Financing Activity	-0.07	-0.05	0.23	-0.14	-0.14	-0.02	-0.50	-0.00	-0.00	-0.00
Net Cash Flow	0.16	-0.32	0.09	0.32	-0.14	0.21	-0.41	-0.08	-0.03	-0.01

Shareholdings

Shareholding History

Quarterly

Yearly

Quarterly

	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026
Promoters	37.72%	37.72%	37.72%	37.72%	37.72%	37.20%	37.55%	37.55%	37.55%	37.55%	37.55%	37.55%
FIIs	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
DIIs	2.43%	2.43%	2.43%	2.43%	2.43%	2.43%	2.43%	2.43%	2.43%	2.43%	2.43%	2.43%
Public	59.85%	59.85%	59.85%	59.85%	59.85%	60.37%	60.02%	60.02%	60.02%	60.02%	60.02%	60.02%
Total Shareholders	6,762	6,843	6,818	7,144	7,245	9,389	10,146	10,811	11,271	11,456	12,338	13,206

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Frequently Asked Questions about Garware Marine Industries Ltd

Garware Marine Industries Ltd (GARWAMAR) is currently trading at 21.77 per share. Stock prices fluctuate during market hours on NSE and BSE based on demand, company updates, and overall market conditions. Refer to the live price chart above for the most recent price movement.

Garware Marine Industries Ltd (GMIL) is primarily engaged in ship repairs and previously manufactured and marketed fishing nets. Originally incorporated as Modern Nets Ltd in 1975, the company has undergone significant changes, ceasing fishing net production to focus on ship repair. The company operates its ship repair division, assisting OEM engineers with various marine engineering tasks, enhancing its niche capabilities in marine services. Previously, GMIL increased its fish knitted fabric production capacity by 50%, indicating its historical focus on fishing industry support. As of its recent focus, the company operates mainly from its headquarters in Mumbai with facilities in Ahmednagar, Maharashtra.

Over the past 52 weeks, Garware Marine Industries Ltd has traded between a low of ₹18.32 and a high of ₹36.50. The 52-week high and low indicate the stock’s price range over the last year and help investors understand its volatility and recent trading levels.

Garware Marine Industries Ltd has a market capitalization of approximately 12.11. Market capitalization represents the total value of a company’s outstanding shares and helps investors understand its size, stability, and relative risk compared to other listed companies.

Garware Marine Industries Ltd’s investment profile depends on its business fundamentals, valuation, and long-term outlook. The stock currently trades at a PE ratio of 80.73 and operates in the its sector sector. Investors typically assess financial performance, growth prospects, and individual risk tolerance before making investment decisions.

Based on its market capitalization of 12.11 Cr, Garware Marine Industries Ltd is classified as a Small Cap stock. Large-cap stocks are generally more stable, while mid-cap and small-cap stocks tend to offer higher growth potential along with higher price volatility.

Garware Marine Industries Ltd operates in the its sector sector. Sector classification matters because companies in the same sector are often affected by similar economic conditions, regulatory changes, and competitive dynamics, which can influence overall stock performance.

The Price-to-Earnings (PE) ratio of Garware Marine Industries Ltd is 80.73. The PE ratio compares a company’s share price to its earnings and is commonly used to assess valuation. Comparing the PE ratio with sector peers and historical levels provides better context.

Garware Marine Industries Ltd

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