Latest news with #SeamecLtd
Business Upturn
10 hours ago
- Business
- Business Upturn
Seamec subsidiary acquires vessel ‘Chennai Valarchi' for USD 7.875 million
By Aman Shukla Published on June 17, 2025, 14:06 IST Seamec Ltd has announced that its wholly owned subsidiary, Seamec International FZE, through its joint venture company SEARETE INDIA IFSC PRIVATE LIMITED, has completed the acquisition of the vessel 'CHENNAI VALARCHI' from The India Cements Limited. The purchase was finalized on Monday, June 16, 2025, at a transaction value of USD 7.875 million. Following the acquisition, the vessel has been placed on a bareboat charter with FORESEE SHIPPING IFSC PRIVATE LIMITED, based in GIFT City, Gujarat. The charter agreement spans a period of 42 months with a daily hire rate of USD 7,156. Over the full term of the charter, this equates to an estimated total charter hire of approximately USD 9.15 million. The company received formal communication regarding the completion of the transaction on June 17, 2025, at 11:39 AM. This development marks another strategic step in Seamec's ongoing maritime operations and asset utilization. Ahmedabad Plane Crash Aman Shukla is a post-graduate in mass communication . A media enthusiast who has a strong hold on communication ,content writing and copy writing. Aman is currently working as journalist at
Yahoo
29-05-2025
- Business
- Yahoo
Seamec Ltd (BOM:526807) Q4 2025 Earnings Call Highlights: Strategic Expansion Amid Revenue ...
Release Date: May 28, 2025 For the complete transcript of the earnings call, please refer to the full earnings call transcript. Seamec Ltd (BOM:526807) has secured a long-term charter for the vessel Swordfish, effective from May 21, with a stable rate of $78,000 per day for 730 days. The company has acquired a new vessel, NPP Nusantara, for $23 million, financed through a mix of debt and internal resources, indicating strategic expansion. Seamec Ltd's wholly-owned subsidiary in Dubai has formed a joint venture, Pre India IFC Private Limited, to enhance its leasing, buying, and selling operations. The entire fleet is currently operational, which is a positive development for the company's utilization rates and revenue generation. The company is optimistic about the upcoming financial year, expecting it to be a year of results, delivery, and performance improvements. Seamec Ltd reported a 12% year-on-year decline in consolidated topline revenue for Q4 2025, reflecting challenges in maintaining revenue growth. The company experienced a decline in EBITDA and profit after tax due to unscheduled breakdowns and less deployment of certain vessels. There were significant losses on the consolidated business part, attributed to the development stage of the UK business and non-cash depreciation items. The vessel Swordfish was idle from March until May due to unforeseen circumstances, impacting potential revenue during that period. The company faces challenges in expanding into new geographical markets due to the lack of available vessels for new contracts. Warning! GuruFocus has detected 5 Warning Signs with BOM:526807. Q: Given the increase in long-term debt, what strategies are in place to manage debt levels and ensure financial stability going forward? A: Vinay Agrawal, CFO, clarified that the company has not taken any additional debt in the last financial year and has been repaying existing debt. The company plans to use cash reserves for future acquisitions to minimize debt exposure. Q: What is the current order pipeline and how do you see that reflecting in revenue in the upcoming quarter? A: Vinay Agrawal, CFO, stated that all vessels are currently deployed, except for one that will be off-hired during the monsoon season. The rest are on long-term contracts, ensuring stable revenue. Q: Can you explain the reason for the consolidated business losses and when do you expect it to be profitable? A: Rajiv Goel, Non-Executive Director, explained that the losses are primarily due to depreciation and interest provisions. The Dubai subsidiary is already profitable, and the UK business is expected to be cash flow positive by FY 2026-27. Q: Why is there variability in tax liability across quarters? A: Vinay Agrawal, CFO, explained that tax liability varies due to the nature of vessel operations and the timing of profits. Some vessels are taxed at normal rates, while others have minimal tax due to their operational structure. Q: Are there any plans to expand operations into new geographical markets or sectors? A: Rajiv Goel, Non-Executive Director, mentioned that while there are no immediate plans for expansion into new markets, the company is acquiring new vessels with firm contracts, ensuring stable operations in existing markets. For the complete transcript of the earnings call, please refer to the full earnings call transcript. This article first appeared on GuruFocus. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
