Seamec Limited has informed the Exchange regarding Outcome of Board Meeting held on May 27, 2025.
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Seamec Limited's board approved audited financial results for Q4 and FY ended March 31, 2025, with auditors T R Chadha & Co LLP issuing an unmodified (clean) opinion. Standalone FY25 revenue declined to ₹61,733 lakhs from ₹66,557 lakhs in FY24, while PAT fell sharply to ₹11,555 lakhs from ₹18,660 lakhs (largely due to absence of ₹1,301 lakhs exceptional gain from prior year vessel sale), translating to EPS of ₹45.44 vs ₹73.38. Consolidated FY25 revenue dropped to ₹65,182 lakhs with PAT at ₹8,791 lakhs. The board also approved a material modification to the Related Party Transaction with parent HAL Offshore Limited, doubling the charter hire/diving transaction cap from USD 30 million to USD 60 million per annum, subject to shareholder approval. Additionally, the company approved purchase of vessel 'NPP Nusantara' as nominated by its subsidiary Seamec International FZE.
Weak FY25 earnings with revenue and profit decline year-on-year may pressure the stock in the short term, though strong operating cash flow (₹42,514 lakhs standalone) and clean audit opinion provide comfort. The doubled related-party transaction limit with HAL Offshore and new vessel acquisition signal continued investment in business growth, requiring shareholder approval for the RPT expansion.