The share of this small-cap company gained up to 2.1 percent after the company came into a Memorandum of Agreement for the purchase of Vessels worth 7,00,000 USD, with M/s. Ship & Boat Service.
Seamec Ltd is a small-cap with a market capitalization of Rs 2,285.45 crore, On Friday the company shares were trading at Rs 898.90 a share, an increase of 2.22 percent from the previous close price.
According to the company filing, Seamec Ltd came into a Memorandum of Agreement for the purchase of Vessels worth 7,00,000 USD, with M/s. Ship & Boat Service, New Cairo, Egypt, the timeline of the acquisition is the second week of December.
Looking into the company’s financials, the company’s revenue increased by 1.05 percent from Rs 85.33 crore Q2FY23 to Rs 84.43 crore Q2FY24. Further, During the same period, net profit reduced from Rs 17.1 crores to Rs 14.78 crores loss.
Seamec Ltd reported return ratios in the recent financial year with a return on equity (ROE) of 4.36 percent and a return on capital employed (ROCE) of 3.87 percent.
Seamec Ltd’s recent shareholding pattern, The Promoters of the company own 72.04 percent while Retail shareholders own a 25.29 percent stake in the company and Foreign Institutional Investors own a 2.65 percent stake.The stock has delivered a return of 23.41 percent in six months.
Seamec Ltd. offers services for offshore oilfield operations both domestically and internationally. The company also owns and operates diving support vessels and has dabbled in a variety of tunnel construction projects.
Written By:- Abhishek Singh.