🐟 Garware Marine: “Fishing Net Retired, Ship Repair Hired – But Where’s the Ocean?”
Date of Publishing -
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🧵 At a Glance
Garware Marine gave up its fishing net dreams back in 2013 and pivoted to a niche ship repair business. The result? 11 years later, it still clocks just ₹1.2 Cr revenue annually. Somehow, it has a market cap of ₹21 Cr, 10,800 shareholders, and a P/E of 49. What is this – a boat repair unicorn?
1️ WTF Do They Even Do?
Used to manufacture nylon fishing nets 🐠
Pivoted in 2013 to ship repair services ⚓️
Provides repair services to a handful of shipowners (yes, that’s their wording)
No mention of fleet, dry docks, or repair capacity – niche AF
Not connected to Garware Technical Fibres – that’s a different universe altogether
