Provides offshore support vessels and subsea services to oil and gas operators, primarily ONGC in India. The fleet includes vessels named SAMUDRA SEVAK, SAMUDRA PRABHA, SEAMEC PALADIN, SEAMEC AGASTYA, SEAMEC ANANT, SEAMEC GALLANT and SEAMEC GLORIOUS, used for diving, inspection and charter work at offshore fields such as Mumbai High and the West Coast including the Daman oilfield. Revenue is split into Domestic (82.6% of period segment revenue, ₹745.43 crore, EBIT ₹226.03 crore) and Overseas (17.4%, ₹156.51 crore, EBIT ₹7.98 crore) for FY26. Major contracts include two ONGC O&M contracts on Samudra Sevak and Samudra Prabha running to March 2028 with combined value of ₹618 crore (Seamec consortium share 90%), diving agreements with promoter HAL Offshore worth about USD 9.42 million and USD 9.96 million, and a 180-day charter with Lamprell Energy for SEAMEC GLORIOUS worth USD 5.21 million. Costs are dominated by other operating expenses (44.6% of revenue), depreciation (16.5%) and employee costs (13.4%), with capex at 39.8% of revenue reflecting fleet investment. FY26 capex was approximately ₹300 crore, with a further ~$70 million (around ₹600 crore) planned for the ANANT vessel acquisition in FY27. AR · MarketPing reader · 2026-08-02
Revenue streams, as the annual report describes them. Domestic (83%), Overseas (17%). Asset-heavy offshore support vessel operator with high depreciation and capex intensity.
| ₹ crore · consolidated | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Revenue | 350 | 437 | 729 | 652 | 952 |
| EBITDA (ex other income) | 129 | 126 | 242 | 223 | 400 |
| margin % | 36.9 | 28.9 | 33.2 | 34.1 | 42.0 |
| Owners' profit | 86 | 33 | 120 | 90 | 251 |
| EPS, as reported (₹) | 32.92 | 13.00 | 47.08 | 35.25 | 98.87 |
| ROE % · ROCE % | 11.1 · 10.5 | 4.2 · 4.0 | 13.2 · 12.1 | 8.7 · 10.5 | 19.4 · 18.7 |
| Debt / equity (x) | 0.16 | 0.17 | 0.34 | 0.21 | 0.25 |
| Cash from operations | 161 | 53 | 150 | 299 | 321 |
| Capex | (205) | (292) | (322) | (54) | (379) |
| ₹ crore | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 88 | 149 | 200 | 211 | 97 | 317 | 327 | 297 |
| Profit before tax | 2 | (3) | 54 | 79 | (25) | 108 | 107 | 89 |
| Net profit | 0 | (3) | 41 | 76 | (26) | 100 | 104 | 81 |
| EPS (₹) | 0.04 | (1.31) | 16.91 | 29.80 | (10.81) | 39.18 | 40.70 | 31.95 |
| Segment | Revenue, ₹ crore | Share % |
|---|---|---|
| Domestic | 746 | 78.3 |
| Overseas | 206 | 21.7 |
| Total, before eliminations | 952 | 100.0 |
| Company | M.cap ₹ cr | P/E | P/B | EV/EBITDA | ROE % | ROCE % | Rev CAGR 5y % | EBITDA m. % |
|---|---|---|---|---|---|---|---|---|
| THE GE SHPG.LTD | 20,188 | 5.4 | 1.19 | 4.2 | 17.3 | 16.7 | 10.1 | 80.7 |
| SHIPPING CORP OF INDIA LT | 13,087 | 8.1 | 1.44 | 5.9 |
| Date · filing | Category | Importance | 1-day % | 5-day % |
|---|---|---|---|---|
| 10 Sept 2026 · Vessel SEAMEC AGASTYA back on-hire after technical redressal | capex operations | medium | — | — |
| 9 Sept 2026 · SEAMEC's ONGC vessel Samudra Sevak returns from dry docking | business updates | medium | — | — |
| 9 Sept 2026 · Vessel SEAMEC Agastya off-hired due to technical defect | capex operations | medium | — | — |
| 7 Sept 2026 · SEAMEC to hold investor roadshow on September 10, 2026 | board shareholder meetings | low | — | — |
| 6 Sept 2026 · SEAMEC Swordfish vessel back on hire after maintenance | business updates | medium | — | — |
| 2 Sept 2026 · SEAMEC 39th AGM Notice and Annual Report FY26 Dispatched | compliance | minimal | — | — |
| 1 Sept 2026 · SEAMEC files BRSR for FY26; revenue up 46%, zero workplace injuries | compliance | low | — | — |
| 1 Sept 2026 · SEAMEC Annual Report FY26: revenue up 46 percent, PAT up 110 percent, Rs 2 dividend | results | high | — | — |
| 1 Sept 2026 · SEAMEC 39th AGM notice Sep 25, 2026; dividend, director changes, related party cap | board shareholder meetings | low | — | — |
| 31 Aug 2026 · Seamec informs about schedule of meeting | board shareholder meetings | low | — | — |
| Where a broker report shows | This document shows | Why |
|---|---|---|
| A rating (BUY / ADD / REDUCE / SELL) | A state: the latest filed quarter and the measured reactions |
| 14.9 |
| 12.5 |
| 9.3 |
| 53.8 |
| SHREEJI SHIPPING GLOBAL L | 11,235 | 69.2 | 14.61 | 47.3 | 19.9 | 22.4 | — | 33.6 |
| SEAMEC LIMITED ◆ | 4,567 | 17.8 | 3.50 | 10.8 | 19.4 | 17.3 | 30.0 | 48.5 |
| TRANSWORLD SHIP LINES LTD | 362 | — | 0.54 | 11.5 | (11.1) | (7.7) | (0.4) | 54.5 |
| ESSAR SHIPPING LTD | 338 | 4.0 | — | — | 5.4 | 20.7 | (67.3) | 638250.0 |
| GARWARE OFFSHORE SERVICES LIMI | 133 | 13.4 | 1.07 | 13.7 | (7.4) | (4.8) | (14.4) | 24.9 |
| CHOWGULE STEAMSHIPS LTD. | 80 | 23.1 | 4.54 | — | 28.8 | 20.8 | — | 70.4 |
| Metric | Company | Group median | Rank | Better than |
|---|---|---|---|---|
| P/E (TTM) | 17.8 | 13.4 | 6 of 9 | 38% |
| P/B | 3.5 | 2.5 | 5 of 8 | 43% |
| ROCE | 17.4 | 14.6 | 4 of 10 | 67% |
| ROE | 19.4 | 15.5 | 3 of 10 | 78% |
| Debt / Equity | 0.3 | 0.3 | 4 of 10 | 67% |
| EBITDA margin | 48.5 | 51.1 | 6 of 10 | 44% |
| Revenue growth | 40.8 | 39.1 | 3 of 9 | 75% |
| Profit growth | 7.3 | 73.0 | 8 of 10 | 22% |
| Market cap | 4567 | 350 | 4 of 10 | 67% |
| an event is a fact; a rating is an opinion that requires SEBI RA registration |
| A target price and upside | The current price and the multiples against the group | a target is a forecast; a multiple is a measurement |
| Estimate years marked E | More audited years; no estimates | MarketPing publishes no forecasts — your own model lives on the Models page |
This document is a statistical summary of publicly filed information and market data, prepared by software from primary sources: SEBI results XBRL filed with BSE and NSE, LODR disclosures, shareholding patterns, exchange price data. It contains no research recommendation, no price target and no opinion on the merits of any security, and is not a research report within the meaning of the SEBI (Research Analysts) Regulations, 2014, Regulation 2(1)(w)(vii). Financial statements are as filed (consolidated where the company files consolidated results). Ratios are computed over filed lines. Where a figure is unavailable the table shows a dash rather than an estimate. The business brief is written by MarketPing's reader from the annual report and checked against it; no figure in a table was generated by a model. Nothing here constitutes investment advice, an offer or a solicitation; readers should consult a SEBI-registered adviser before acting. MarketPing is not a SEBI-registered intermediary.
