Seamec Limited has informed the Exchange about Transcript
SEAMECLTD · price
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Seamec reported Q4 FY25 consolidated revenue of INR 210 crore, down 12% YoY from INR 240 crore, with full-year revenue falling 10% to INR 682 crore. Consolidated PAT for FY25 stood at INR 88 crore versus INR 121 crore in FY24, and ROCE/ROE were both at 9%. Management highlighted that the Swordfish vessel has secured a 2-year charter with Saudi Aramco at $78,000/day starting May 21, and the Board has approved acquiring MSV NPP Nusantara for $23 million, to be funded through a mix of debt and internal resources. Nearly the entire fleet is now deployed, and management stated FY26 should be better than FY25. A new joint venture (Searete India IFSC) was incorporated in GIFT City with UAE-based Arete Shipping DMCC for vessel acquisition and leasing.
Despite a weak FY25 with revenue and profit declines, the full deployment of the fleet, Swordfish's new long-term charter, and the Nusantara acquisition signal improving utilisation and revenue visibility going into FY26, which could be viewed positively by investors. However, UK subsidiary losses continue to weigh on consolidated numbers, though management expects cash flow positivity from FY27.