A number one marine engineering and offshore assist providers firm has secured a big contract in Saudi Arabia, demonstrating its continued development and strategic market positioning. The newly awarded constitution settlement highlights the agency’s sturdy operational capabilities and potential for increasing worldwide enterprise alternatives within the dynamic maritime sector.
Share Value Motion
The share value of SEAMEC Restricted went up by 4.25 p.c to Rs. 1,166.95 per share on Monday, a rise from its earlier shut of Rs. 1,119.35 per share. The market capitalisation now stands at roughly Rs. 2,936 crore as of December 16, 2024.
What Occurred
SEAMEC has signed a contract with Mermaid Subsea Providers in Saudi Arabia for constitution rent of the vessel “SEAMEC SWORDFISH” for 50 days, with an possibility to increase. The contract worth is USD 3.46 million, and it’ll start between December sixteenth to twenty third, 2024.
Q2 Monetary Highlights
In accordance with its latest submitting, within the quarter ending September 2024, SEAMEC’s consolidated income from operations has elevated by 4 p.c YOY from Rs. 84.43 crore in Q2 FY24 to Rs. 87.87 crore in Q2 FY25 and declined by 59.1 p.c QoQ from Rs. 215 crore in This autumn FY24.
The corporate’s consolidated internet loss has gone from a lack of Rs. 14.5 crore in Q2 FY24 to a revenue of Rs. 0.16 crore in Q2 FY25. As in comparison with the final quarter of 2025, the corporate’s internet revenue has declined by 99.67 p.c QoQ from Rs. 64 crore.
Market Outlook
The oil and gasoline trade outlook focuses on sustaining capital self-discipline and prioritising low-carbon tasks to deal with altering power calls for. The trade is coping with underinvestment and provide disruptions exacerbated by geopolitical tensions and commerce challenges. Within the Asia Pacific, notably in China and India, pure gasoline demand stays robust, pushed by financial development and infrastructure improvement. The long run development of the sector will rely on coverage assist, infrastructure tasks, and the affordability of imported gasoline, making it a beautiful funding alternative regardless of challenges.
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Shareholding Sample
As of the September 2024 shareholding sample, SEAMEC Restricted is primarily held by the promoters at 72.31 p.c, international institutional buyers maintain 4.08 p.c, and the general public with 17.37 p.c.
About Firm
Seamec Restricted is a number one participant within the offshore oil subject providers trade, recognized for providing Diving Help Vessels (DSVs) and associated providers. Established in 1986 as Peerless Leasing Pvt Ltd, the corporate has developed considerably, changing into a subsidiary of HAL Offshore Ltd in 2014 beneath the MM Agrawal Group. Headquartered in Mumbai, India, Seamec operates throughout home and worldwide markets, making it a key participant globally.
Seamec operates a flexible fleet comprising 5 diving assist vessels: SEAMEC II, SEAMEC III, SEAMEC PRINCESS, SEAMEC PALADIN, and SEAMEC SWORDFISH, together with one offshore assist vessel (OSV) named SEAMEC DIAMOND and one lodging barge, SEAMEC GLORIOUS.
Their providers embrace specialised diving operations, gentle building assist, marine logistics, and EPC infrastructure providers by way of joint ventures. The corporate additionally collaborates with worldwide companions like Technip and Rompetrol to boost its technical capabilities and increase service choices.
Seamec Restricted continues to tell apart itself as a distinguished supplier of offshore assist providers, with a broad fleet and a wealth of experience. By forming strategic alliances and investing in fleet enlargement, Seamec is well-positioned to fulfill the evolving calls for of the offshore trade and pursue development alternatives each domestically and internationally.
Written By Fazal Ul Vahab C H
Disclaimer
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