Synopsis:
Shipping stock is in focus today after signing a Bimco Charter Party Agreement worth Rs. 28.86 crore.
A small cap Company that owns and operates 4 multi-support vessels for the provision of diving services, manned and unmanned subsea operations and related activities, is in the spotlight after signing a Bimco Charter Party Agreement with Larsen & Toubro Limited.
With the market capitalization of Rs. 2,173.84 crore, the shares of SEAMEC Ltd is trading at Rs. 855, down by 0.79 percent from its previous day’s close price of Rs. 861.80 per equity share, and it has reached an intraday low of Rs. 852 in the same trading day.
What’s the News?
Seamec Limited has signed a Bimco Charter Party Agreement with Larsen & Toubro Limited for the charter hire of its barge SEAMEC Glorious to support ONGC’s offshore accommodation and hook-up projects in Mumbai High and the West Coast.
The contract is valued at Rs. 28.86 crore (excluding GST) for a firm period of 150 days, with an option for extension, and is scheduled to commence between October 1 and October 30, 2025.
Also Read: Tata Group stock in focus after reporting disappointing Q2 results
About the Company
Seamec Limited, based in Mumbai and incorporated in 1986, is a subsidiary of HAL Offshore Limited that provides comprehensive offshore oilfield and diving support vessel services in India and internationally.
Its offerings include ROV operations, inspection and maintenance of pipelines and single buoy moorings, pigging, non-destructive testing, gas leak management, installation and removal of risers and riser clamps, flare boom repairs, blowout control, and support to jack-ups for wellhead maintenance.
The company also engages in chartering, ship management, and operation, including freight and passenger transportation, and undertakes EPC tunnel projects covering road, railway, metro, soft ground, and water tunnels.
Formerly known as South East Asia Marine Engineering & Construction Limited, it was renamed Seamec Limited in June 2007 and owns and operates bulk carriers, providing end-to-end marine and offshore solutions.
A return on equity (ROE) of about 7.93 percent, a return on capital employed (ROCE) of about 8.60 percent and debt to equity ratio at 0.23 demonstrate the company’s financial position. At the moment, the company’s P/E ratio is 19.1x higher as compared to its industry P/E 13.5x.
In Q1FY26, the company reported revenue of Rs. 211 cr, down 1.9 percent YoY from Rs. 215 cr in Q1FY25 but up 5.5 percent QoQ from Rs. 200 cr in Q4FY25. Net profit rose significantly to Rs. 76 cr, up 52 percent YoY from Rs. 50 cr and 85.4 percent QoQ from Rs. 41 cr, indicating strong margin improvement despite stable revenue.
Written by Akshay Sanghavi
Disclaimer
The views and investment tips expressed by investment experts/broking houses/rating agencies on tradebrains.in are their own, and not that of the website or its management. Investing in equities poses a risk of financial losses. Investors must therefore exercise due caution while investing or trading in stocks. Trade Brains Technologies Private Limited or the author are not liable for any losses caused as a result of the decision based on this article. Please consult your investment advisor before investing.
