During Wednesday’s trading session, the shares of a company engaged in undertaking ship management surged nearly 9.5 percent, after the company secured a work order worth nearly Rs. 7.8 crores from Paradip Port Authority.
Price Movement
With a market capitalisation of Rs. 167.3 crores, at 02:30 p.m., the shares of Sadhav Shipping Limited were trading in the green at Rs. 116.55 on NSE, up by nearly 4 percent, as against its previous closing price of Rs. 111.4.
What’s the News
According to the latest regulatory filings with the NSE, Sadhav Shipping Limited has announced receiving a Letter of Acceptance (LoA) from Paradip Port Authority.
The order, valued at nearly Rs. 7.8 crores, involves providing a Mooring Launch (Boat) on a time charter basis for a duration of 7 years.
Previous News & Orders
13th January: Sadhav Shipping Limited entered into a Joint Venture Agreement (JVA) with United Petro Shipping PTE Limited to jointly establish an “Offshore Supply Base” in India. As part of this proposed JV, the Board of the JV Company will include one director from each participating company.
10th February: Sadhav Shipping Limited, in collaboration with its JV Partner United Petro Shipping Pte Ltd, Singapore, has entered into a MoU with the Government of Odisha at the Utkarsh Odisha (Make in Odisha Conclave 2025).
The MoU outlines plans to explore business opportunities in the state of Odisha, with an initial investment of Rs. 5,637 crores in the Jagatsinghpur/Kendra Pada region.
The proposed business activities will include: ship manufacturing, construction, repairs, and maintenance; development of port infrastructure for offshore supply base, along with logistics services and warehousing facilities; and the exploration, drilling & production of oil & gas, and other minerals from the seabed.
To implement these plans, both the JV partners, United Petro Shipping PTE Ltd along with Sadhav Shipping Limited, will incorporate a new JV company.
Also read: IT stock hits 5% upper circuit after signing agreement with US-based company
Financials
Sadhav Shipping reported a marginal growth in the revenue from operations, experiencing a rise of nearly 11.6 percent YoY, increasing from Rs. 33.7 crores in H1 FY24 to Rs. 37.6 crores in H1 FY25.
Similarly, during the same period, the company’s net profit increased from Rs. 4.07 crores to Rs. 4.55 crores, representing a growth of around 12 percent YoY.
About the Company
Incorporated in 1996, Sadhav Shipping Limited is engaged in the business of owning and operating barges, tugs & vessels in addition to undertaking ship management for other owners. It owns and operates a diversified fleet of 22 vessels in sectors such as offshore logistics, port services, and oil spill response.
The company carry out operations, maintenance & repairs (O&M, MRO) on board ships and offshore structures with the ultimate purpose of owning and operating ships. It is the first company to set up and operate India’s 1st Port Based Tier 1 Oil Spill Response Centre in Mumbai and are now operating in most of the Major Ports in India.
Written by Shivani Singh
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