Shipwaves Online Limited announced its unaudited financial results for the half-year ended September 30, 2026. The Board of Directors also approved extending a corporate guarantee of AED 4,500,000 (approximately Rs. 11.63 crore) to its subsidiary, Shipwaves Online LLC. This guarantee is to secure credit facilities from Abu Dhabi Commercial Bank PJSC, influencing the company’s financial commitments and its subsidiary’s operational capacity.
Shipwaves Online Limited Board Meeting Outcome
Shipwaves Online Limited has announced the outcome of its Board Meeting held on November 14, 2026. The meeting addressed two primary agenda items: the review of financial results and the extension of a corporate guarantee to its subsidiary.
Financial Results for H1 FY27
The Board considered and approved the unaudited financial results for the half-year ended September 30, 2026. These results, presented on a standalone and consolidated basis, were accompanied by the Limited Review Report from the company’s Statutory Auditors. The detailed financial statements show a loss before tax of Rs. 443.41 lakhs for the standalone half-year ended September 30, 2026, and a profit before tax of Rs. 605.17 lakhs for the consolidated half-year ended the same date. This indicates varied performance between standalone and consolidated entities.
Corporate Guarantee for Subsidiary
A significant resolution involved approving the extension of a corporate guarantee to Shipwaves Online LLC, the company’s subsidiary. The guarantee amounts to AED 4,500,000, equivalent to approximately Rs. 11,63,25,000 (Rupees Eleven Crore Sixty-Three Lakhs Twenty-Five Thousand only). This guarantee is intended to secure credit facilities for Shipwaves Online LLC from Abu Dhabi Commercial Bank PJSC. The disclosure, as per SEBI Circular No. SEBI/HO/CFD/CFDP0D1/P/CIR/2023/123 dated July 13, 2023, details this contingent liability. The promoter, Mr. Kalandan Mohammed Haris, has an interest in this transaction through his investment in the subsidiary.
IPO Fund Utilization
Further details provided highlight the company’s Initial Public Offering (IPO) completed on December 17, 2025. The total funds utilized from the IPO up to September 30, 2026, amounted to Rs. 5,135.20 Lakhs out of a proposed Rs. 5,635.20 Lakhs. Key utilization areas include working capital requirements for the issuer and investment in the subsidiary for its working capital needs.
Source: BSE
