Q3 2026 Seamec Ltd Earnings Call Transcript
Key Points
- Seamec Ltd (BOM:526807) achieved its highest ever vessel deployment in Q3 FY26, leading to record quarterly revenue and profitability.
- The company reported a significant year-over-year revenue increase of 138% on a consolidated basis, reaching INR331 crores.
- EBITDA for Q3 FY26 was INR150 crores, a substantial rise from INR34 crores in Q3 FY25, reflecting improved asset utilization.
- Profit after tax on a consolidated basis was INR100 crores, compared to a loss of INR3 crores in the same quarter last year.
- Seamec Ltd (BOM:526807) successfully completed the turnkey revamping of ONGC's NLM9 platform ahead of schedule, showcasing disciplined execution.
- The acquisition and deployment of the vessel Anant have been delayed, with deployment now expected in Q1 FY27.
- Seamec Paladin is undergoing dry dock repairs, which will impact revenue and profitability in Q4 FY26.
- The company faces potential revenue fluctuations due to vessel dry docking and contract changeovers, affecting quarterly performance.
- There is a risk of older vessels being phased out due to DG Shipping norms, although Seamec's diving support vessels are currently exempt.
- The company has a mix of long-term and short-term contracts, which may lead to variability in charter rates and revenue visibility.
Ladies and gentlemen, good day, and welcome to Seamec Limited Q3 FY26 earnings conference call 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 Limited. Thank you, and over to you, sir.
Thank you, Siobhan. Good afternoon, everyone. On behalf of Arihant Capital, I welcome you to the earnings of Seamec Limited Q3 FY26 con call. From the management side today, we have Mr. Naveen Mohta, Wholetime 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, sir, to give his opening remarks, following which we will open the floor for Q&A. Over to you, sir.
Thank you, Bala. Good afternoon, ladies and gentlemen. On
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