Q2 2025 Seamec Ltd Earnings Call Transcript
Key Points
- Seamec Ltd (BOM:526807) reported a 12% year-on-year increase in revenue for Q2 FY25, reaching INR110 crore.
- EBITDA for the quarter grew by 26% year-on-year, indicating improved operational efficiency.
- The company achieved a profit after tax of INR0.2 crore, a significant improvement from a loss of INR14.5 crore in the same quarter of the previous year.
- Seamec Ltd (BOM:526807) maintains a strong financial position with a net cash of INR78 crore after adjusting for borrowings.
- The company is well-positioned to capitalize on growth opportunities in the offshore services sector, with ongoing projects and partnerships with major clients like ONGC, Aramco, and ADNOC.
- The company's deployment rate was only 51% in Q2, indicating underutilization of its fleet during the monsoon season.
- Margins have declined year-on-year due to lower deployment during the monsoon season, affecting profitability.
- There is uncertainty regarding the repricing of contracts, as new tenders are yet to be finalized, which could impact future revenue.
- The company faces challenges from geopolitical uncertainties and regulatory changes in the oil and gas industry.
- Seamec Ltd (BOM:526807) has experienced delays in contract renewals, which may impact financial performance in Q3 FY25.
Ladies and Chairman. Good day and welcome to the Seamec Limited Q2 FY25 earnings conference call. (Operator Instructions) Please note that this conference is being recorded.
I will now hand the conference over to your host, Mr. Balasubramanian from Arihant Capital. Please go ahead sir.
Thank you Ryan. Hello and good evening, everyone on behalf of Arihant Capital. I welcome you to the earnings call of Seamec Limited for Q2 FY25. From the management side, we have Mr. Naveen Mohta; the Whole Time Director, Mr. Vinay Agarwal, CFO; Mr. S. N. Mohanty, President, Corporate Affairs, Legal Services and Company Secretary; Mr. Sunil Gupta, VP, strategy and Investor Relation.
We welcome the management of Seamec on this call. Now, I invite Mr. Naveen Mohta, Whole Time Director to give his opening remarks following which will open the floor for Q&A. Over to you, Mr. Naveen Mohta, sir.
Thank you Bala. Good evening,
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