This Ocean Company Increased its Profits by 352% In just 1 Year
1. Company Overview
SEAMEC Ltd. operates a diverse fleet of vessels offering specialized engineering services. With long-term contracts with industry giants like ONGC and L&T Hydrocarbon, SEAMEC ensures a steady revenue stream and service quality.
2. Key Highlights
– Leading offshore oil field service provider.
– Operates five diving support vessels and one barge.
– Recent acquisitions include Seamec Diamond and Seamec Pearl.
– Expertise in inspection, maintenance, and repairs.
3. Business Segments
🔹 Offshore Shipping(80%) – : SEAMEC offers services for offshore oilfields in India and overseas using their special diving support vessels like Seamec II & III, Seamec Princess, and more. They also work on tunnel construction projects. 🛳️🔧
🔹 Bulk Carriers(19%) – : SEAMEC transports dry bulk goods with a fleet of 3 ships. Recently, they sold Seamec Gallant to a subsidiary in April 2023 and sold Vessel Marine Fortune in FY23.
4. Promoters of the Company
– Mr. Sanjeev Agrawal (Chairman) : Masters in Commerce, Masters of Business Administration from Coca-Cola University, Atlanta, USA ,Over 26+ Years of Experience.
5.Clientele
– Oilfield Services: ONGC, L&T Hydrocarbon, POSH, Mermaid.
– Bulk Carrier Services: United Marine, Clipper, Eagle Bulk. SEAMEC’s diversified client base underscores its reliability and industry standing. 🤝🏆
6. Future Outlook
– SEAMEC anticipates a CAGR of 15%-20% driven by:
Vessel asset consolidation.
– Market opportunities in East Coast oil discoveries.
– Planned capex of INR 600-700 Cr over the next 2-3 years.
– Robust growth trajectory ahead! 🚀📈
7. Financial Snapshot (QOQ AND YOY)
QoQ:(Q4 FY’24)
-Revenue: INR 234 Cr (103% YoY increase).
-EBITDA: INR 105 Cr (337% YoY growth).
-Profit After Tax: INR 75.9 Cr.
YoY:(FY’24)
-Revenue:706.7 Cr(71%).
-EBITDA:289.5 Cr,(+121%)
-PAT:186 Cr. (+352%)
8. Acquisitions and Growth
SEAMEC recently acquired Aarey Organic Industries for Rs 17 Cr and expanded its fleet with the Asian Pearl through a JV. These strategic moves position SEAMEC for robust growth in the coming years. 🌱🚢
9.Industry Insights
-Indian offshore oilfield sector critical for economic development.
-Diesel demand to reach 163 MT by 2029-30.
Natural gas consumption expected to grow by 25 BCM annually until 2024.
-FDI approvals in oil and gas boosting sector growth. 🇮🇳💡
10.Disclaimer:
This is not a BUY/SELL Recommendation do your own due diligence before investing.