Q3 2025 Seamec Ltd Earnings Call Transcript
Key Points
- Seamec Ltd (BOM:526807) has secured a new two-year contract for Seamec 4 with a charter rate of $78,000 per day, reflecting strong demand and favorable market conditions.
- The company successfully commenced a new charter for its vessel in Saudi Arabia, reinforcing its position in the Middle East market.
- Seamec Diamond resumed operations with ONGC after necessary repairs, strengthening its partnership and operational capacity.
- The company has secured a new contract with Maserati Energy Services Limited for offshore work on the East Coast of India, valued at USD2.47 million.
- Seamec Ltd (BOM:526807) is optimistic about future growth opportunities due to India's projected 22% growth in refinery capacity and the government's recent oil and gas bid round.
- Seamec Ltd (BOM:526807) reported a 36% year-on-year decline in revenue for Q3 FY25, with a significant drop in EBITDA by 54%.
- The company faced delays in contract orders during Q3, impacting its financial performance and leading to a loss of INR3 crores.
- Unexpected breakdowns, particularly in Seamec 2, affected the company's operational efficiency and financial results.
- The overseas segment reported a loss of INR14 crores, attributed to interest and depreciation costs in Seamec UK.
- The company experienced a negative impact from foreign exchange movements, resulting in a loss of INR10 crores in other income.
Ladies and gentlemen, good day, and welcome to the Q3 nine months FY25 earnings conference call of Seamec Limited, hosted by Arihant Capital Markets Limited. (Operator Instructions) Please note that this conference is being recorded.
I now hand the conference over to Mr. Balasubramanian from Arihant Capital Markets. Thank you, and over to you, sir.
Thank you, Ritika. Good evening, everyone. On behalf of Arihant Capital, I welcome you to the earnings call of Seamec Limited for Q3 FY'25. From the management side, we have Mr. Naveen Mohta, the Whole Time Director; Mr. Vinay Kumar Agarwal, CFO; and Mr. Sunil Gupta, Vice President, Strategy and Investor Relations. We welcome the management of Seamec on this call. Now I invite Mr. Naveen Mohta, the Whole time director to give opening remarks.
Following which we will open the floor for Q&A. Over to you Mr. Naveen Mohta sir.
Thank you. Good evening, everyone, and welcome to Seamec quarter
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