Seamec Limited has informed the Exchange about Transcript
SEAMECLTD · price
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Seamec Limited reported its highest-ever annual revenue (Rs.1,000 crore consolidated, up 47% YoY) and profitability for FY26, driven by strong vessel deployment, improved fleet utilization, and successful project execution. Q4 FY26 consolidated revenue stood at Rs.330 crore (up 58% YoY) with PAT of Rs.103 crore. Management guided for ~15% revenue and bottom-line growth in FY27, with EBITDA margins expected in the 40-42% range. Key positives include two new O&M contracts for MSV Samudra Prabha and Samudra Sevak (till March 2028), full-year contribution from SEAMEC AGASTYA, and planned acquisition of SEAMEC ANANT ($70 million CAPEX). The company operates in the niche diving support vessel segment with one of India's largest fleets. International revenue contributes 10-15% of total business. Geopolitical risks remain due to the Seamec Paladin being stranded in Dubai, affecting near-term revenue.
Strong operational performance with record financials; FY27 guidance of 15% growth and stable margins signals continued momentum. However, geopolitical disruptions (Paladin stuck in Dubai) and dry-docking schedules could create near-term volatility. The company's niche DSV fleet and ONGC relationships provide a competitive moat.