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Garware Marine Industries (BSE: GARWAMAR) had a P/E of 58.3× on 6 Nov 2026, above the industry P/E of 54.7×, and the shares are 54% below their 52-week high. Its ROCE of 1.5% is the lowest among the 7 largest Aerospace & Defense peers, and sales fell 4.0% a year over 3 years while net profit grew 8.3%. It is a small-cap company with a market cap of ₹9.74 Cr, ranked 27th of 27 Aerospace & Defense companies by market cap; the shares fell 47% over the past year.

As of 6 Nov 2026Prices are delayed about 15 minutes; fundamentals are from the quarter ended Jun 2026.How we calculate this

past year
Open
₹17.50
Day high
₹17.90
Day low
₹16.72
Prev. close
₹17.44
Volume
2.3K

Health check

2 fair · 4 to check
  • ReturnsBehind

    −47.3% over a year, better than 0 of 7 peers.

  • Price tagIn line

    P/E 58.3 vs industry 54.7.

  • GrowthSlow

    Sales −4.0%, profit +8.3% a year over 3 years.

  • ProfitabilityWeak

    ROCE 1.5% vs peer median 20.4%.

  • Balance sheetFair

    Piotroski 4 of 9.

  • Red flags2 to check

    Return on equity is low at 1.0%.

Compared with 7 industry peers. Computed from reported figures. Educational, not a recommendation.

Aerospace & Defense

26 listed peers. Screen the industry

Small cap

₹9.74 Cr, #27 of 27 in its industry by size.

Market sensitivity

Measuring against the NIFTY 50…

Key metrics

Last 12 months to Jun 2026: sales ₹1 Cr · profit ₹0 Cr
Market cap
₹9.74 Cr
Small cap
P/E
58.3
Industry 54.7
Price to book
0.99
Peers 9.16
Dividend yield
0.00%
ROE
1.0%
Peers 23.2%
ROCE
1.5%
Peers 20.4%
Debt to equity
n/a
Debt ₹0.00 Cr
EPS (TTM)
₹0.29
OPM (TTM)
12.2%
Net margin 14.4%
Sales growth
+20.5%
Latest quarter vs a year ago
Profit growth
+44.8%
Latest quarter vs a year ago
Price to sales
8.57
EV/EBITDA 69.1

Strengths and risks

Strengths

  • Quarterly profit up 44.8% on a year ago.
  • Quarterly sales up 20.5% on a year ago.

Risks to check

  • Return on equity is low at 1.0%.
  • 54% below its 52-week high.

Derived automatically from reported figures. Not a recommendation.

About Garware Marine Industries

Garware Marine Industries Limited provides ship repair and maintenance services in India. The company's services comprise pump overhauls, engine overhaul/repairs, hydraulic and gear box repair, and pipeline and other marine fabrication jobs. It also provides propeller hub overhaul, shaft removal and renewal, stern thruster overhauls, major day dockings, and bow thruster services. The company was formerly known as Modern Nets Limited and changed its name…

Headquarters
Mumbai
Employees
4
Sector
Industrials
ISIN
INE925D01014
Website
garwaremarine.com

Price range

52 weeks

₹15.12₹36.50

Today

₹16.72₹17.90
Avg volume (3M)
4.4K
1-year return
minus 47.3%
From 52-week high
minus 53.7%

Peers · Aerospace & Defense

Capital-heavy industry columns

Compare with peersScreen the whole industry
Company
HALHindustan Aeronautics4,980.00minus 1.25%3,33,05035.728.513.8%25.3%0.006.4%plus 7.6%
BELBharat Electronics396.00plus 0.23%2,89,46745.333.731.9%28.2%0.0015.5%minus 4.8%
MAZDOCKMazagoan Dock Shipbuilders1,840.00plus 0.05%74,22230.321.928.5%16.2%0.0819.6%minus 31.5%
BDLBharat Dynamics1,060.00minus 1.40%38,85674.6152.17.2%12.8%0.00−0.9%minus 27.4%
COCHINSHIPCochin Shipyard1,220.00minus 1.05%32,09647.230.316.7%12.6%0.2826.9%minus 30.3%
GRSEGarden Reach Shipbuilders & Engineers2,135.70minus 0.07%24,46530.625.836.8%11.0%0.0140.0%minus 16.4%
DATAPATTNSData Patterns (India)3,767.70minus 4.85%21,09387.854.820.4%39.6%0.0026.8%plus 46.6%
GARWAMARGarware Marine Industries16.90minus 3.10%1058.331.01.5%12.2%–−4.0%minus 47.3%
Median of 7 peers–−1.05%38,85645.330.320.4%16.2%0.0019.6%−16.4%

Quarterly results

Consolidated, ₹ crore
SalesSelect a row below to chart it
₹ CrJun 25Sep 25Dec 25Mar 26Jun 26
0.30.30.30.30.3
0.20.20.30.30.2
0.10.10−0.10.1
21.0%32.4%12.2%−21.9%23.8%
00000
0–000
00000
0.10.10−00.1
2.2%3.3%6.7%−5.7%14.6%
0.10.10−00.1
0.100.160.08-0.080.13

Profit & loss

Yearly, ₹ crore
Sales CAGR 3Y
−4.0%
Profit CAGR 3Y
+8.3%
EPS CAGR 3Y
+9.1%
ROE
1.0%
Net profitSelect a row below to chart it
₹ CrMar 2023Mar 2024Mar 2025Mar 2026
1.20.71.21.1
–minus 46.0%+81.6%minus 9.8%
1.10.80.70.9
0.1−0.10.50.2
9.8%−17.0%41.2%14.8%
0.20.100.2
0000
0000
−0.2–−0.1−0.2
0.1−0.10.40.2
0.3%–0.7%6.5%
0.1−0.10.40.1
–minus 158.8%–minus 65.9%
0.20-0.120.750.26

Forecast

Your assumptions, not a prediction

Balance sheet

At each financial year end, ₹ crore
Total assetsSelect a row below to chart it
₹ CrMar 2023Mar 2024Mar 2025Mar 2026
5.85.85.85.8
2.15.312.24.6
0.30.41.20.3
8.211.519.210.6
0000
36.313.74.9
0.1000
5.25.15.45.7
8.211.519.210.6

Cash flow

Yearly, ₹ crore
Cash from operationsSelect a row below to chart it
₹ CrMar 2023Mar 2024Mar 2025Mar 2026
−0.1−00−0.1
0–−00
−0−0−0−0
−0.1−0−0−0
––−0–
−0.1−0−0−0.1

Shareholding pattern

This company is listed only on BSE, so there’s no NSE category split. See Major shareholders below for the named holders.

Major shareholders

BSE filing

Filings & events

News

No recent news coverage found.

My notes

Private to you