Order Book Or Contract Wins
Expected: Q3 FY26HIGH confidence
What: Contract Value: ₹22 Cr benefit in Q3
Impact: ₹22 Cr
“This has given us a benefit of almost upwards of INR22 crores in the quarter. So this was kind of an exceptional business.”
SEAMEC Ltd: Why Is It Outperforming Nifty 500?
ActiveRS +17.6%Average12w StreakTurnaround
In , SEAMEC Ltd (Shipping) is outperforming Nifty 500 with +17.6% relative strength. Fundamentals: Average. On a 12-week streak.
SEAMEC Ltd Key Facts
- PE Ratio
- 20.0x
- Price/Book
- 3.06x
- Market Cap
- ₹3,817 Cr
- PAT Growth YoY
- +3433%
- Revenue Growth YoY
- +113%
- OPM
- 43.0%
- RS vs Nifty 500
- +17.6%
PE: Mid ContractionStrong Opportunity
What's Happening
💎PE falling while earnings hold — value emerging
📊Debt increased 75% YoY — leverage rising
🏛️DII reducing — stake down 2.5%
💰Trading 39% above estimated fair value — significant premium
Earnings Acceleration Triggers
1. Order Book Or Contract Wins
Q3 FY26HIGH
2. Operating Leverage Inflection
CurrentHIGH
3. Value Added Product Mix Shift
Next 3-5 yearsMEDIUM
Key Risks
1. Vessel dry docking requirements leading to off-hire periods
MEDIUM2. Potential impact of lower oil prices on charter rates
LOWSector-Specific Signals
Swordfish Day Rate$75,000
Anant Day Rate$45,000
Nusantara Day Rate$25,000
Agastya Day Rate$25,000
Key Numbers
PAT Growth YoY
+3433%
Inflection Up
Revenue YoY
+113%
Inflection Up
Operating Margin
43.0%
+1300 bps YoY
PE Ratio
20.0
PEG Ratio
1.22
EV/EBITDA
10.8
Current Price
₹1,501
Fundamental Score
59/100
Average
3Y PAT CAGR
+2%
Market Cap
3.8K Cr
Valuation
Significantly Overvalued12-Week Performance
Weekly presence in the outperformers list. Green = beating Nifty 500 by 10%+ that week.
12 weeks agoThis week
Why Are SEAMEC Ltd's Earnings Accelerating?
Based on Q3 FY26 earnings • Updated Apr 18, 2026
Operating Leverage Inflection
Expected: CurrentHIGH confidence
What: Vessel Deployment: Highest ever
“For Seamec, Q3 was a landmark quarter marked by the highest ever vessel deployment in the company's history.”
Value Added Product Mix Shift
Expected: Next 3-5 yearsMEDIUM confidence
What: IMR Revenue Mix: Increasing
“The ratio of IMR contracts is going up, where this is higher margin business. And this is our focus as a strategy also.”
Revenue growth of 138% YoY to ₹331 Cr
HIGH confidence
What: Revenue growth of 138% YoY to ₹331 Cr
“The highest ever vessel deployment contributed to an exceptional performance during the quarter.”
What Are the Key Risks for SEAMEC Ltd?
Earnings deceleration risks from management commentary
Vessel dry docking requirements leading to off-hire periods
MEDIUMTrigger: Seamec Paladin is on dry dock for 2 months in Q4.
Impact: PAT impact: Lesser revenue in Q4
Management view: Planning dry docks during monsoon periods to minimize revenue disruption.
Monitor: logistics
Potential impact of lower oil prices on charter rates
LOWTrigger: If oil prices drop to $50, private players might cut offshore exploration capex.
Management view: Company focuses on extraction (IMR) which is a continuous activity less dependent on oil price cycles than exploration.
Monitor: commodity
What Is SEAMEC Ltd's Management Saying?
Key quotes from recent conference calls
“But as of now, all those defects are duly rectified, and the vessel is in the field and is fully operational. [Previous Vessel Deployment (Swordfish) guidance]”
“And as of now, our plan is to mobilize it by 1st of Feb. And that is what is also part of our financial budget. [Previous Vessel Acquisition (Anant) guidance]”
“The reason being in that contract, we are getting deployment for the whole year. So there is no off-hire period, the monsoon also. [Initiative: Shift to IMR Contracts]”
“Secondly, in Q4, one of our IMR contract vessel, which is Seamec Paladin, is on a dry dock for 2 months. So we will see lesser revenue. [Risk (logistics): MEDIUM]”
What Did SEAMEC Ltd Report This Quarter?
Headline numbers from the latest earnings call
Revenue
₹331 Cr
YoY +138%QoQ +206.5%
Why: The highest ever vessel deployment in the company's history contributed to an exceptional performance during the quarter.
Revenue surged as the company moved past monsoon-related restrictions and operational hazards seen in Q2.
EBITDA
₹150 Cr
YoY +341.2%Margin 45.3%
Why: Increased asset utilization and a favorable industrial environment drove margins to record levels.
EBITDA margins expanded significantly from approximately 24.5% in the prior year to over 45%.
PAT
₹100 Cr
Why: The turnaround from a loss was driven by the successful deployment of the vessel Swordfish and the Goodman contract.
The company achieved a massive swing from a ₹26 Cr loss in Q2 FY26 to a ₹100 Cr profit in Q3.
Other Highlights
• Highest ever vessel deployment in company history.
• Turnkey revamping of ONGC's NLM9 platform completed ahead of schedule.
• Net debt reported at zero or negative levels currently.
What Sector Metrics Matter for SEAMEC Ltd?
Sub-sector-specific signals from the latest concall — each with management's stated reason for the change
Swordfish Day Rate
$75,000
Why: High capability vessel with superior cranage and accommodation.
Anant Day Rate
$45,000
Why: Agreed rate for a 4-year contract with ONGC.
Nusantara Day Rate
$25,000
Why: Standard rate for the vessel's 4-year ONGC contract.
Agastya Day Rate
$25,000
Why: Contracted for 4 years with ONGC through HAL Offshore.
Total Fleet Size
11 vessels
YoY +1
Why: Acquisition of new vessels like Agastya and pending Anant.
Standard Dry Dock Duration
90 days
Why: Typical exercise occurring every 2.5 years.
Net Debt
₹0 Cr
Why: Strong internal accruals used for debt reduction.
Agastya Acquisition Cost
$23 million
Why: Acquired through a mix of internal sources and debt.
What Is SEAMEC Ltd's Management Guidance?
Forward-looking targets from management for Next 2 years
Capex Plan
₹1000 Cr
Revenue Outlook
Steady visibility expected
Margin Outlook
Focus on higher margin IMR contracts
Capex Plan
₹1,000 Cr
Targeted acquisition of one or more vessels
Volume
Growth expected from new assets
Management Tone: BULLISH
Guidance Changes
LOWERED
Anant Deployment: February 1, 2026 → Q1 FY27
How Fast Is SEAMEC Ltd Growing?
Revenue, profit and margin growth rates
| Metric | YoY | 3Y CAGR | Trend |
|---|---|---|---|
| Revenue | +113% | +23% | Inflection Up |
| PAT (Net Profit) | +3433% | +2% | Inflection Up |
| OPM | 43.0% | +1300 bps | Volatile |
The above analysis is parsed from publicly available earnings call transcripts. This is educational research only — not investment advice. Last updated Apr 18, 2026.
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Frequently Asked Questions: SEAMEC Ltd
Based on publicly available financial data. This is educational research, not investment advice.
What were SEAMEC Ltd's latest quarterly results?
SEAMEC Ltd's latest quarterly results (Dec 2025) show
- PAT Growth YoY: +3433.3% (turning around (inflection up))
- Revenue Growth YoY: +112.8%
- Operating Margin: 43.0% (volatile)
Is SEAMEC Ltd's profit growing or declining?
SEAMEC Ltd's profit is growing with an turning around (inflection up) trend.
- PAT Growth YoY: +3433.3% (latest quarter)
- PAT Growth QoQ: +484.6% (sequential)
- 3-Year PAT CAGR: +1.6%
- Trend: Turning around (inflection up) — consistent growth pattern
What is SEAMEC Ltd's revenue growth trend?
SEAMEC Ltd's revenue growth trend is turning around (inflection up).
- Revenue Growth YoY: +112.8%
- Revenue Growth QoQ: +226.8% (sequential)
- 3-Year Revenue CAGR: +23.0%
How is SEAMEC Ltd's operating margin trending?
SEAMEC Ltd's operating margin is volatile.
- Current OPM: 43.0%
- OPM Change YoY: +13.0% basis points
- OPM Change QoQ: +35.0% basis points
What is SEAMEC Ltd's 3-year profit and revenue CAGR?
SEAMEC Ltd's long-term compounding rates
- 3-Year Profit CAGR: +1.6%
- 3-Year Revenue CAGR: +23.0%
Is SEAMEC Ltd's growth accelerating or decelerating?
SEAMEC Ltd's earnings growth is turning around (inflection up) with mixed signals on a sequential basis.
- Sequential Acceleration: +100.0% bps
What is SEAMEC Ltd's trailing twelve month (TTM) performance?
SEAMEC Ltd's trailing twelve month (TTM) performance
- TTM PAT: ₹191 Cr
- TTM PAT Growth: +91.0% YoY
- TTM Revenue: ₹825 Cr
- TTM Revenue Growth: +19.9% YoY
- TTM Operating Margin: 39.2%
Is SEAMEC Ltd overvalued or undervalued?
SEAMEC Ltd appears significantly overvalued based on our fair value analysis.
- Valuation Signal: Significantly Overvalued
- Current PE: 20.0x
- Price-to-Book: 3.5x
What is SEAMEC Ltd's current PE ratio?
SEAMEC Ltd's current PE ratio is 20.0x.
- Current PE: 20.0x
- Market Cap: 3.8K Cr
How does SEAMEC Ltd's valuation compare to its history?
SEAMEC Ltd's current PE is 20.0x.
- Current PE: 20.0x
- Valuation Assessment: Significantly Overvalued
What is SEAMEC Ltd's price-to-book ratio?
SEAMEC Ltd's price-to-book ratio is 3.5x.
- Price-to-Book (P/B): 3.5x
- Book Value per Share: ₹423
- Current Price: ₹1501
Is SEAMEC Ltd a fundamentally strong company?
SEAMEC Ltd is rated Average with a fundamental score of 59/100. This score is calculated from objective financial metrics
- Revenue Growth YoY: +112.8% (10% weight)
- PAT Growth YoY: +3433.3% (10% weight)
- PAT Growth QoQ: +484.6% (10% weight)
- Margins stable (10% weight)
- PEG Ratio: 1.2x vs sector median (15% weight)
- EV/EBITDA: 10.8x vs sector median (15% weight)
Is SEAMEC Ltd debt free?
SEAMEC Ltd has a debt-to-equity ratio of N/A.
- Total Debt: ₹405 Cr
What is SEAMEC Ltd's return on equity (ROE) and ROCE?
SEAMEC Ltd's return ratios over recent years
- FY2023: ROCE 3.0%
- FY2024: ROCE 12.0%
- FY2025: ROCE 9.0%
Is SEAMEC Ltd's cash flow positive?
SEAMEC Ltd's operating cash flow is positive (FY2025).
- Cash from Operations (CFO): ₹299 Cr
- Free Cash Flow (FCF): ₹134 Cr
- CFO/PAT Ratio: 340% (strong cash conversion)
What is SEAMEC Ltd's dividend yield?
SEAMEC Ltd currently does not pay a significant dividend (yield 0.00%).
- Dividend Yield: 0.00%
- Current Price: ₹1501
Who holds SEAMEC Ltd shares — promoters, FII, DII?
SEAMEC Ltd's shareholding pattern (Mar 2026)
- Promoters: 72.7%
- FII (Foreign): 3.7%
- DII (Domestic): 4.5%
- Public: 19.1%
Is promoter holding increasing or decreasing in SEAMEC Ltd?
SEAMEC Ltd's promoter holding has remained stable recently.
- Current Promoter Holding: 72.7% (Mar 2026)
- Previous Quarter: 72.7% (Dec 2025)
- Change: 0.00% (stable)
How long has SEAMEC Ltd been outperforming Nifty 500?
SEAMEC Ltd has been outperforming Nifty 500 for 12 consecutive weeks, indicating strong sustained outperformance.
Is SEAMEC Ltd a new momentum entry or an established outperformer?
SEAMEC Ltd is an established outperformer with 12 weeks of consecutive Nifty 500 outperformance.
What are the growth catalysts for SEAMEC Ltd?
SEAMEC Ltd has 4 key growth catalysts identified from recent earnings analysis
- Order Book Or Contract Wins — Securing the Goodman vessel contract which was previously with the parent company.
- Operating Leverage Inflection — Full utilization of the fleet including the high-value Swordfish vessel.
- Value Added Product Mix Shift — Strategic focus on IMR contracts over EPC to ensure year-round revenue.
- Revenue growth of 138% YoY to ₹331 Cr — Driven by the highest ever vessel deployment and the addition of the Goodman vessel contract.
What are the key risks in SEAMEC Ltd?
SEAMEC Ltd has 2 key risks worth monitoring
- [MEDIUM] Vessel dry docking requirements leading to off-hire periods — Seamec Paladin is on dry dock for 2 months in Q4.
- [LOW] Potential impact of lower oil prices on charter rates — If oil prices drop to $50, private players might cut offshore exploration capex.
What did SEAMEC Ltd's management say in the latest earnings call?
In Q3 FY26, SEAMEC Ltd's management highlighted
- "But as of now, all those defects are duly rectified, and the vessel is in the field and is fully operational. [Previous Vessel Deployment (Swordfish)..."
- "And as of now, our plan is to mobilize it by 1st of Feb. And that is what is also part of our financial budget. [Previous Vessel Acquisition (Anant) ..."
- "The reason being in that contract, we are getting deployment for the whole year. So there is no off-hire period, the monsoon also. [Initiative: Shift..."
What is SEAMEC Ltd's management guidance for growth?
SEAMEC Ltd's management has provided the following forward guidance for Next 2 years
- Revenue outlook: Steady visibility expected
- Margin outlook: Focus on higher margin IMR contracts
- Capex plan: ₹1000 Cr for Targeted acquisition of one or more vessels
- Management tone: bullish
- Milestone: [LOWERED] Anant Deployment: February 1, 2026 → Q1 FY27
What sector-specific metrics matter most for SEAMEC Ltd?
SEAMEC Ltd's most important sub-sector-specific KPIs from the latest concall
- Swordfish Day Rate: $75,000 — High capability vessel with superior cranage and accommodation.
- Anant Day Rate: $45,000 — Agreed rate for a 4-year contract with ONGC.
- Nusantara Day Rate: $25,000 — Standard rate for the vessel's 4-year ONGC contract.
- Agastya Day Rate: $25,000 — Contracted for 4 years with ONGC through HAL Offshore.
- Total Fleet Size: 11 vessels (YoY +1) — Acquisition of new vessels like Agastya and pending Anant.
- Standard Dry Dock Duration: 90 days — Typical exercise occurring every 2.5 years.
Is SEAMEC Ltd worth studying for long term investment?
Based on quantitative research signals, here is why SEAMEC Ltd may be worth studying
- Earnings growing at +3433.3% YoY
- Cash flow is positive — CFO ₹299 Cr
What is the investment thesis for SEAMEC Ltd?
SEAMEC Ltd investment thesis summary:
Research Signals (Bull Case)
- Revenue growing at +112.8% YoY
- Growth catalyst: Order Book Or Contract Wins
Risk Factors (Bear Case)
- Appears significantly overvalued
- Key risk: Vessel dry docking requirements leading to off-hire periods
What is the future outlook for SEAMEC Ltd?
SEAMEC Ltd's forward outlook based on current data signals
- Earnings Trend: turning around (inflection up)
- Revenue Trend: turning around (inflection up)
- Margin Trend: volatile
- Valuation: Significantly Overvalued
- Key Catalyst: Order Book Or Contract Wins
- Key Risk: Vessel dry docking requirements leading to off-hire periods
The above FAQs are generated from publicly available earnings data and conference call transcripts. This is educational research only. Sector Alpha is not SEBI registered and does not provide investment advice.