SEAMEC Ltd. (NSE : SEAMECLTD and BSE : 526807) engages in the provision of marine, construction, and diving services to offshore oilfields. The company is headquartered in Kolkata, West Bengal and currently employs 48 full-time employees. The firm operates through two segments: Domestic and Overseas. The company operates multi support vessels for providing support services, including marine, construction and diving services to offshore oilfields and bulk carrier vessels for providing bulk carrier services. The company provides DSVs and turnkey subsea solutions requiring provision of divers and ROVs as well as third party vessel management services for DSVs. The company operates in two distinct verticals of the shipping business, such as offshore shipping and main fleet shipping. Its offshore fleets include SEAMEC II, SEAMEC III, SEAMEC PRINCESS and SUBTECH PALADIN. The firm owns and operates four multi-support vessels for the provision of diving services, manned and unmanned subsea operations and related activities. The firm caters in both domestic as well as international market.<\/p>\n\n\n\n
Standalone revenue for Q3 FY26 stood at \u20b9316.5 crore, registering a sharp year-on-year growth of 139% compared to \u20b9132.7 crore in Q3 FY25, and a strong quarter-on-quarter increase of 246% from \u20b991.4 crore in Q2 FY26. Operating expenses in Q3 FY26 were \u20b9172.8 crore, up 79% year-on-year from \u20b996.4 crore and higher by 110% sequentially from \u20b982.3 crore.<\/p>\n\n\n\n
EBITDA surged to \u20b9143.7 crore in Q3 FY26, reflecting a 296% increase over \u20b936.3 crore in Q3 FY25 and a significant improvement from \u20b99.2 crore in the previous quarter. EBITDA margin expanded to 45.4% in Q3 FY26 from 27.4% in Q3 FY25, indicating a notable improvement in operating profitability.<\/p>\n\n\n\n
Finance costs for the quarter rose to \u20b95.6 crore, up 68% year-on-year from \u20b93.4 crore and 41% higher on a quarter-on-quarter basis. Depreciation expense stood at \u20b928.6 crore in Q3 FY26, declining by 5% compared to \u20b930.1 crore in Q3 FY25 and also lower by 5% from \u20b930.0 crore in Q2 FY26.<\/p>\n\n\n\n
Profit before exceptional items increased sharply to \u20b9109.5 crore in Q3 FY26, compared with \u20b92.9 crore in the same quarter last year, while the company reported a loss of \u20b924.8 crore in Q2 FY26. There were no exceptional items reported during the quarter, and profit after exceptional items remained at \u20b9109.5 crore, compared with \u20b92.9 crore in Q3 FY25 and a loss of \u20b924.8 crore in the previous quarter.<\/p>\n\n\n\n
Tax expense for Q3 FY26 was \u20b98.2 crore, compared to \u20b90.6 crore in Q3 FY25 and \u20b91.1 crore in Q2 FY26. As a result, profit after tax for Q3 FY26 rose sharply to \u20b9101.3 crore, compared with \u20b92.3 crore in Q3 FY25, and improved significantly from a loss of \u20b925.8 crore in Q2 FY26.<\/p>\n\n\n\n
During the first nine months of FY26, revenue increased to \u20b9630.9 crore, reflecting a 40% year-on-year growth from \u20b9452.2 crore in 9M FY25. The growth was primarily driven by higher deployment of major vessels and the NLM-9 platform revamping project, partly offset by the dry docking of Seamec II in Q2 FY26 and the Glorious barge, which underwent modification during the year.<\/p>\n\n\n\n
Operating expenses for 9M FY26 amounted to \u20b9362.3 crore, compared with \u20b9293.2 crore in the corresponding period last year. The increase was mainly due to higher manpower costs from increased headcount and annual increments, along with higher management and professional fees and finance costs.<\/p>\n\n\n\n
EBITDA for 9M FY26 rose to \u20b9268.5 crore, marking a 69% year-on-year increase from \u20b9159.0 crore in 9M FY25. EBITDA margin improved to 42.6% from 35.2% in the previous year, supported by incremental revenue from higher deployment despite the rise in operating costs. Finance costs during the nine-month period increased to \u20b912.5 crore from \u20b910.4 crore in 9M FY25, while depreciation stood at \u20b988.4 crore compared to \u20b985.7 crore last year.<\/p>\n\n\n\n
Profit before exceptional items surged to \u20b9167.6 crore in 9M FY26, up 167% from \u20b962.9 crore in the same period last year. There were no exceptional items reported, and profit after exceptional items remained at \u20b9167.6 crore. Tax expense for 9M FY26 was \u20b912.5 crore, compared with \u20b96.1 crore in 9M FY25. Consequently, profit after tax rose sharply to \u20b9155.1 crore, registering a 173% year-on-year increase from \u20b956.8 crore in the corresponding period of the previous year.<\/p>\n\n\n\n
Seamec Ltd successfully completed the turnkey job in revamping of NLM 9 platform of ONGC well before it’s scheduled time through HAL Offshore Vessel MV Goodman. Seamec Glorious commenced operations in Nov’25 for a firm period contract with L&T of 150 days. Seamec III sailed for commencement of the 2nd part of Pipeline Replacement Project (PRP-VIII A) and DSF II. Project with effect from 25th December 2025. Seamec Agastya after completing its dry dock commenced its operations with ONGC via HAL offshore Limited in Jan’26. Seamec Paladin has sailed to Dubai on 17th January 2026 for undertaking statutory drydocking of around 70 days after which it will return to India to continue its Long-term charter with ONGC.<\/p>\n\n\n\n
Our fleet of multi-functional DSVs and support vessels, including SEAMEC II, SEAMEC III, SEAMEC PRINCESS, SEAMEC PALADIN, SEAMEC SWORDFISH, SEAMEC DIAMOND, and SEAMEC GLORIOUS, supports a wide range of offshore activities. Managed through SEAMEC International FZE and SEAMATE Shipping FZC, operating two bulk carriers, SEAMEC GALLANT and ASIAN PEARL. SEAMEC NIDHI was sold in April 2024. SEAMEC Nirman Infra Limited undertook the NATM Tunnel construction for the High-Speed Rail Project in Vapi, Gujarat, in a joint venture with Nayavridhi Infra LLP. <\/p>\n\n\n\n
With completion of 80% of the project, the company has withdrawn from the project with effect from July due to unavoidable circumstances.<\/p>\n","protected":false},"excerpt":{"rendered":"
About SEAMEC Ltd. SEAMEC Ltd. (NSE : SEAMECLTD and BSE : 526807) engages in the provision of marine, construction, and diving services to offshore oilfields. The company is headquartered in Kolkata, West Bengal and currently employs 48 full-time employees. The firm operates through two segments: Domestic and Overseas. The company operates multi support vessels for […]<\/p>\n","protected":false},"author":2389,"featured_media":125416,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[1941],"tags":[15449,15452,15451],"class_list":["post-178946","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-stock-analysis","tag-offshore-marine-services","tag-seamec-ltd","tag-seamecltd"],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"https:\/\/alphastreet.com\/india\/wp-content\/uploads\/2021\/11\/Earnings-Coverage.jpg","jetpack_likes_enabled":false,"jetpack-related-posts":[{"id":152451,"url":"https:\/\/alphastreet.com\/india\/seamec-ltd-q1fy24-13-rise-in-profits\/","url_meta":{"origin":178946,"position":0},"title":"SEAMEC Ltd Q1FY24; 13% rise in Profits","author":"Chirag Gupta","date":"August 10, 2023","format":false,"excerpt":"SEAMEC Ltd owns and operates 4 multi-support vessels for the provision of diving services, manned and unmanned subsea operations and related activities. 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