About Gol Offshore Limited
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Gol Offshore Limited is a public limited company based in Mumbai, Maharashtra, India. The company is currently under liquidation, meaning its assets are being sold to settle outstanding debts. It may not have the legal capacity to fulfil new contracts. It operates in the oil and gas service contractors segment of the energy and power sector. It was incorporated on 14 July 2005.
The company is registered with the Registrar of Companies (ROC), Mumbai, under CIN L11200MH2005PLC154793. The company has 2 GST registrations on record, none of which is active. It is recorded as listed by MCA, but its shares were delisted from NSE on 02 Jul 2018 · winding up and from BSE on 14 Feb 2020 · winding up, and no longer trade on a stock exchange.
The company has an authorised share capital of ₹200 Cr and a paid-up capital of ₹78.87 Cr. It was formerly known as Great Offshore Limited. It is led by directors Vijay Kumar and Prakashchandra Kapoor.
Its last annual general meeting (AGM) was held on 23 September 2015, and its latest financial statements are for the year ended 31 March 2016. The registered office is at Energy House 81 D.N. Road, Mumbai, Maharashtra, India – 400001.
As per the financials filed for FY 2016, the company reported a revenue of ₹972.65 Cr, a decline of 24% compared to the previous year. For the same year it recorded a net loss of ₹693.42 Cr (net margin -71.3%) and EBITDA of -₹132.54 Cr (EBITDA margin -13.6%).
The company has about 78 employees on its provident fund (EPFO) records. Its group structure includes 12 subsidiaries.
As per MCA filings, the company has open charges of ₹6,654.83 Cr and satisfied charges of ₹3,897.05 Cr on record. Court records list 307 cases involving the company, including 63 filed by the company and 247 filed against it; 47 cases are pending. The company has 38 deals on record (24 market trades, 11 secondary share transfers, 3 funding rounds), with disclosed funding of ₹340.36 Cr; the latest was in August 2016.
The last known website on record is goloffshore.com.
Company details
CIN history
Gol Offshore has one previous CIN (Corporate Identification Number): U11200MH2005PLC154793. The current CIN is L11200MH2005PLC154793, which is the unique identifier assigned by the Registrar of Companies.
| CIN | Status |
|---|---|
| L11200MH2005PLC154793 | Current |
| U11200MH2005PLC154793 | Previous |
Contact details
Gol Offshore Limited's registered office is in Mumbai, Maharashtra. Its website is goloffshore.com.
- Website
- Registered AddressEnergy House 81 D.N. Road, Mumbai, Maharashtra, India – 400001
- IndustryEnergy and Power, Oil & Gas Service Contractors
- Company details, directors and signatories
- Historical financials and ratios
- Shareholding pattern and group structure
- Charges with holder and property details
- Legal cases, compliance and MCA filings
Business activity
The main business activity of Gol Offshore is mining and quarrying. In detail, this covers mining support services activities.
| Main activity group code | Main activity | Business activity code | Business activity | Share of turnover |
|---|---|---|---|---|
| B | Mining and quarrying | B5 | Mining Support Services activities |
To see the full business activity and turnover split of Gol Offshore Limited, buy the company report.
Financials of Gol Offshore Limited
FY 2016 filings availableGol Offshore Limited reported revenue of ₹972.65 Cr (down 24% YoY) for FY 2016.
Compounded Annual Growth Rate (CAGR)
Revenue fell 24% in the latest year. EBITDA fell 129% in the latest year. All are worked out from the filed statements.
Financial Statement Summary
| Metrics | FY 2015-16 | FY 2014-15 |
|---|---|---|
| Profit and Loss Statement | ||
| Revenue from Operations | ||
| Other Income | ||
| Total Revenue | ₹972.65 Cr | |
| Cost of Materials Consumed | ||
| Employee Benefit Expense | ||
| Finance Costs | ||
| Depreciation and Amortisation | ||
| Other Expenses | ||
| Total Expenses | ||
| EBITDA | -₹132.54 Cr | |
| Profit Before Tax | ||
| Tax Expense | ||
| Net Profit (PAT) | -₹693.42 Cr | |
| Balance Sheet | ||
| Share Capital | ||
| Reserves and Surplus | ||
| Net Worth (Total Equity) | ||
| Long-term Borrowings | ||
| Short-term Borrowings | ||
| Trade Payables | ||
| Total Liabilities | ||
| Fixed Assets | ||
| Investments | ||
| Inventories | ||
| Trade Receivables | ||
| Cash and Bank Balance | ||
| Total Assets | ||
Financial Ratios
| Metrics | FY 2015-16 | FY 2014-15 |
|---|---|---|
| Profitability | ||
| EBITDA Margin | -13.6% | |
| Net Profit Margin | -71.3% | |
| Return on Equity (ROE) | ||
| Return on Capital Employed (ROCE) | ||
| Return on Assets (ROA) | ||
| Liquidity and Debt | ||
| Current Ratio | ||
| Quick Ratio | ||
| Debt-to-Equity Ratio | ||
| Interest Coverage Ratio | ||
| Efficiency and Growth | ||
| Asset Turnover | ||
| Receivable Days | ||
| Payable Days | ||
| Inventory Days | ||
| Revenue Growth | ||
| Net Profit Growth | ||
To see the full financial statements and ratios of Gol Offshore Limited, buy the company report.
Board of directors of Gol Offshore Limited
Gol Offshore has 2 current directors and 27 former directors. Current directors are listed first, with their designation and appointment date.
| Name | Designation | Appointment Date | Tenure | Status |
|---|---|---|---|---|
| Vijay Kumar | Director | 01 May 2010 | 16 Years 5 Months | As last reported |
| Prakashchandra Kapoor | Director | 01 May 2010 | 16 Years 5 Months | As last reported |
Auditor
Gol Offshore Limited is audited by MOTILAL & ASSOCIATES for the financial year 2016.
| Auditor firm | Financial year | Firm registration number |
|---|---|---|
| MOTILAL & ASSOCIATES | FY 2016 | 106584W |
Shareholding
The shareholding of Gol Offshore Limited is on record for 2 financial years, the latest being FY 2016, split between promoters, domestic institutions, public shareholders and others.
| Shareholder category | FY 2016 | FY 2015 |
|---|---|---|
| Promoters | ||
| Domestic institutional investors (DII) | ||
| Public | ||
| Others |
To see the full shareholding pattern of Gol Offshore Limited, buy the company report.
Charges & borrowings
| Date | Charge ID | Lender | Amount | Status | Modified or satisfied on |
|---|---|---|---|---|---|
| 29 Feb 2016 | 10627847 | Phoenix Arc Private Limited | ₹117.86 Cr | Open | |
| 08 Jan 2016 | 10615132 | Idbi Bank Limited | ₹46 Cr | Open | |
| 18 Dec 2015 | 10620108 | L & T Infrastructure Finance Company Limited | ₹4.75 Cr | Open | |
| 06 Oct 2015 | 10614569 | Others | ₹240 Cr | Open | |
| 06 Oct 2015 | 10599856 | L&T Infrastructure Finance Company Limited | ₹3.37 Cr | Open |
To see the full charge records of Gol Offshore Limited, buy the company report.
Total charge records: 79 View all charges
Deals & funding
Gol Offshore Limited has 38 deals on record (24 market trades, 11 secondary share transfers, 3 funding rounds), with disclosed funding of ₹340.36 Cr; the latest was in August 2016.
Deals on record (5 of 38)
| When | Deal | Amount | Parties |
|---|---|---|---|
| Aug 2016 | Funding round | ₹182.39 Cr | Investors: L&T Infrastructure Finance Company Limited , Axis Bank Limited , Icici Bank Limited |
| Mar 2016 | Secondary share transfer | Undisclosed | Buyer: Others GOL Offshore Limited Seller: Vince Trading and Investment Company Private Limited , an individual |
| Sep 2015 | Secondary share transfer | Undisclosed | Buyer: Others GOL Offshore Limited Seller: Iti Securities Broking Limited |
| Aug 2014 | Secondary share transfer | Undisclosed | Buyer: Iti Securities Broking Limited Seller: Others GOL Offshore Limited |
| Mar 2013 | Market trade | ₹2.1 Cr | Buyer: Iti Securities Broking Limited Seller: Carmona Investment & Finance Pvt. Ltd. |
To see the full deal history of Gol Offshore Limited, buy the company report.
Deal records are compiled from filings and public sources; amounts are shown only where the source reported them.
Legal cases
Gol Offshore Limited has 307 court cases on record: 63 filed by Gol Offshore, 247 filed against it. 47 cases are pending and 260 are disposed.
Cases by court
| Court | Cases | Against the company | Pending |
|---|---|---|---|
| High courts | 286 | 231 | 39 |
| District courts | 16 | 14 | 6 |
| Supreme Court | 5 | 2 | 2 |
Cases on record (5 of 307)
| Court | Type of case | Party | Status |
|---|---|---|---|
| High Court | Court case (COMAS) | Filed against the company by Axis Bank Ltd MDP Legal | Pending |
| High Court | Court case (COMAS) | Filed against the company by Idbi Bank Ltd | Pending |
| High Court | Court case (COMAS) | Filed against the company by Phoenix Arc Pvt Ltd | Pending |
| District court, Mumbai City Civil Court, Maharashtra | Civil suit | Filed by the company against The New India Assurance Co. Ltd. and Anr. | Pending |
| High Court, MAHARASHTRA | Interim or miscellaneous application | Filed against the company by Babaji Shivram Clearing and Carriers Pvt Ltd | Disposed |
To see the full case history of Gol Offshore Limited, buy the company report.
Case records are compiled from court listings and may lag the court's own records. A case filed against a company is not a finding against it.
Credit ratings & regulatory alerts
Gol Offshore Limited was last rated by Crisil on 16 Mar 2020.
| Rating agency | Rated on | Rating |
|---|---|---|
| Crisil | 16 Mar 2020 |
To see the full credit ratings and regulatory alerts of Gol Offshore Limited, buy the company report.
MSME payment delays
No delayed payments to MSME suppliers are on our record for Gol Offshore Limited; the supplier-wise MSME Form 1 check is in the company report Buy the company report.
Group structure & subsidiaries
Gol Offshore has 12 subsidiary companies and 2 associated companies. This group structure data is as of FY 2016. The table lists each entity with its relationship and holding.
| Company Name | CIN | Shares held |
|---|---|---|
| DWS Offshore Services Limited | U11100MH2015PLC265211 | |
| DWS Offshore Services Limited | U11100MH2015PLC265211 | |
| DWS Offshore Drilling Limited | U11100MH2015PLC265213 | |
| DWS Offshore Drilling Limited | U11100MH2015PLC265213 | |
| Gol Ship Repairs Limited | U35100MH2010PLC204018 | |
| Gol Ship Repairs Limited | U35100MH2010PLC204018 |
To see the full group structure of Gol Offshore Limited, buy the company report.
GST
Gol Offshore has 2 GST registrations on record, and all of them have been cancelled or are inactive. Only active GST numbers are listed on this page.
To see the full GST registrations and return filing status of Gol Offshore Limited, buy the company report.
Recent activity
Gol Offshore Limited has 52 board changes on record since 2005: 27 appointments and 25 cessations. The latest: Varika Rastogi ceased to be Company Secretary on 23 Mar 2018.
198 earlier events are in the company report.
Frequently asked questions
Gol Offshore is currently "Under Liquidation" as per MCA records. The company's assets are being sold to settle outstanding debts owed to creditors. A company under liquidation may not have the legal capacity to fulfil new contracts, and creditors are prioritised in the distribution of proceeds. This is a high-risk status - caution is strongly advised.
Gol Offshore is a company under liquidation, formerly operating as a public limited company based in Mumbai, Maharashtra, India. The company works in oil and gas service contractors, within the energy and power industry. It was incorporated on 14 July 2005 and is registered under CIN L11200MH2005PLC154793. Caution is advised - the company may not have the legal capacity to fulfil new agreements.
Gol Offshore has 2 current directors:
- Vijay Kumar - Director
- Prakashchandra Kapoor - Director
The latest financial statements of Gol Offshore on record with the MCA are for the year ended 31 March 2016. Its last annual general meeting was held on 23 September 2015. Year-wise statements from 2015 are in the company report.
The CIN (Corporate Identification Number) of Gol Offshore is L11200MH2005PLC154793. It is issued by the Ministry of Corporate Affairs under the Companies Act, 2013, and uniquely identifies the company in India.
Gol Offshore is recorded as a listed company by MCA, but its shares were delisted from NSE on 02 Jul 2018 · winding up and from BSE on 14 Feb 2020 · winding up, and no longer trade on a stock exchange.
Gol Offshore has open charges of ₹6,654.83 Cr and satisfied charges of ₹3,897.05 Cr as per latest MCA filings.
Gol Offshore has 307 court cases on record: 63 filed by the company and 247 filed against it. 47 are pending. Most are in the high courts.
Gol Offshore was incorporated on 14 July 2005. It is registered with the Registrar of Companies, Mumbai.
Gol Offshore has 38 deals on record (24 market trades, 11 secondary share transfers, 3 funding rounds), with disclosed funding of ₹340.36 Cr; the latest was in August 2016.