Seamec Ltd — Q4 FY26 earnings call
Summary generated by AI from the official transcript Seamec Ltd filed with BSE on 26 May 2026. Every statement cites a verbatim quote from that document — open any citation to read it. This is a record of what management said, not a recommendation. How we check these summaries
The short read
Seamec reported its highest-ever annual revenue and profitability in FY26, with consolidated revenue up 47% to Rs.1,000 crores and consolidated PAT up to Rs.253 crores from Rs.88 crores. Management attributed the growth to higher fleet deployment, improved vessel utilization, new vessel additions including SEAMEC AGASTYA, and new O&M contracts with ONGC in consortium with Supreme Hydro. Management also flagged that vessel Seamec Paladin remained idle in Dubai due to the West Asia conflict, affecting near-term revenue from that asset.
2 statements from this call are not shown because their supporting quotes could not be reproduced within our quoting limits. Nothing shown here is affected: every statement on this page carries its verified quote.
Numbers mentioned
Consolidated Revenue: Rs.330 crores (Q4 FY26)
p. 5
“On a consolidated basis, revenue for the quarter stood at Rs.330 crores compared to Rs.209 crores in Q4 FY25, reflecting a year-on-year increase of 58%.”
Vinay Kumar Agarwal, page 5 of the filed PDF · View the filing
Standalone Revenue: Rs.316 crores (Q4 FY26)
p. 5
“At the standalone level, revenue stood at Rs.316 crores as against Rs.207 crores in the corresponding quarter of the previous year, showing a year-on-year growth of 53%.”
Vinay Kumar Agarwal, page 5 of the filed PDF · View the filing
Consolidated EBITDA: Rs.162 crores (Q4 FY26)
p. 5
“EBITDA at the consolidated level stood at Rs.162 crores in Q4 FY26 compared to Rs.91 crores in Q4 FY25.”
Vinay Kumar Agarwal, page 5 of the filed PDF · View the filing
Standalone EBITDA: Rs.138 crores (Q4 FY26)
p. 5
“On a standalone basis, EBITDA stood at Rs.138 crores versus Rs.105 crores in Q4 FY25.”
Vinay Kumar Agarwal, page 5 of the filed PDF · View the filing
Consolidated PAT: Rs.103 crores (Q4 FY26)
p. 5
“Profit after tax on a consolidated basis stood at Rs.103 crores compared to Rs.41 crores in the same quarter last year.”
Vinay Kumar Agarwal, page 5 of the filed PDF · View the filing
Standalone PAT: Rs.87 crores (Q4 FY26)
p. 6
“At the standalone level, PAT stood at Rs.87 crores versus Rs.58.8 crores in Q4 FY25.”
Vinay Kumar Agarwal, page 6 of the filed PDF · View the filing
Consolidated Revenue: Rs.1,000 crores (FY26)
p. 6
“For the full year FY26, consolidated revenue stood at Rs.1,000 crores compared to Rs.682 crores in last year, reflecting a year-on-year growth of 47%.”
Vinay Kumar Agarwal, page 6 of the filed PDF · View the filing
Standalone Revenue: Rs.947.5 crores (FY26)
p. 6
“At the standalone level, revenue for FY26 stood at Rs.947.5 crores as against Rs.660 crores in FY25.”
Vinay Kumar Agarwal, page 6 of the filed PDF · View the filing
Consolidated EBITDA: Rs.447 crores (FY26)
p. 6
“Consolidated EBITDA for FY26 stood at Rs.447 crores as compared to Rs.244 crores in FY25.”
Vinay Kumar Agarwal, page 6 of the filed PDF · View the filing
Standalone EBITDA: Rs.407 crores (FY26)
p. 6
“On a standalone basis, EBITDA stood at Rs.407 crores vis-à-vis Rs.264 crores in FY25.”
Vinay Kumar Agarwal, page 6 of the filed PDF · View the filing
Consolidated PAT: Rs.253 crores (FY26)
p. 6
“PAT for FY26 at the consolidated level stood at Rs.253 crores compared to Rs.88 crores in FY25.”
Vinay Kumar Agarwal, page 6 of the filed PDF · View the filing
Standalone PAT: Rs.242.4 crores (FY26)
p. 6
“At the standalone level, PAT stood at Rs.242.4 crores compared to Rs.115.6 crores in the previous financial year.”
Vinay Kumar Agarwal, page 6 of the filed PDF · View the filing
ROCE: 18% (FY26)
p. 6
“ROCE and ROE stood at 18% and 19% respectively at the consolidated level.”
Vinay Kumar Agarwal, page 6 of the filed PDF · View the filing
Seamec Diamond charter rate: $8,750 per day
p. 12
“To be very specific, this is $8,750 per day.”
Vinay Kumar Agarwal, page 12 of the filed PDF · View the filing
FY26 CAPEX: Rs.300 crores (FY26)
p. 11
“We have done about Rs.300 crores CAPEX in FY26.”
Sunil Gupta, page 11 of the filed PDF · View the filing
Supreme Hydro consortium share: 10%
p. 10
“So, the share of this Supreme is around 10% into the consortium.”
Naveen Mohta, page 10 of the filed PDF · View the filing
International revenue share: 10% to 15%
p. 13
“About 10% to 15% is the revenue that comes from international market.”
Sunil Gupta, page 13 of the filed PDF · View the filing
What management said it would do
A record of statements made on the call, in the words management used. Parakho does not forecast, endorse or assess them, and their presence here is not a view on whether they will happen.
Revenue growth — about 15% · FY27
stated firmly by Sunil Gupta
p. 9
“I already said that we are expecting about 15% growth in top line and bottom line next year.”
Sunil Gupta, page 9 of the filed PDF · View the filing
EBITDA margin — 40% to 42% · FY27
stated firmly by Sunil Gupta
p. 12
“See, while we gave a guidance that we should be doing about 15% growth in revenue, the margin should be in the range of 40% to 42%.”
Sunil Gupta, page 12 of the filed PDF · View the filing
EBITDA margin — 40%-42% · FY27
stated firmly by Sunil Gupta
p. 16
“But what we are saying, we will be still maintaining a stable margin of 40%-42%.”
Sunil Gupta, page 16 of the filed PDF · View the filing
ANANT CAPEX — roughly $70 million · FY27
stated firmly by Sunil Gupta
p. 11
“In FY27, as Naveen ji just mentioned, the ANANT is roughly about $70 million, which is the scheduled CAPEX.”
Sunil Gupta, page 11 of the filed PDF · View the filing
Diamond vessel charter rate on renewal — 10% to 15% increase
stated conditionally by Naveen Mohta
p. 7
“So, that contract is getting us somewhere around $8100 or $8200 a day, and going forward when this contract comes up for renewal, we are looking at an increase of maybe around 10% to 15% may be possible at that point of time depending upon demand and supply.”
Naveen Mohta, page 7 of the filed PDF · View the filing
Market rate buoyancy — another couple of years
stated as an aspiration by Naveen Mohta
p. 7
“Yes, market is buoyant and we are seeing that maybe for okay, another couple of years, we will definitely continue to see this buoyancy in the market, where rate will continue to increase.”
Naveen Mohta, page 7 of the filed PDF · View the filing
Vessel sale — sell one of Pearl or Gallant · coming year
stated conditionally by Sunil Gupta
p. 19
“There is another vessel, which we might be selling in the coming year.”
Sunil Gupta, page 19 of the filed PDF · View the filing
Q&A highlights
Management's answers to analyst questions, in Parakho's words rather than a transcript. Each row names who answered and carries the verbatim quote it was drawn from.
Diamond is on charter with ONGC at around $8100-8200/day, with a possible 10-15% increase at renewal.
Answered by Naveen Mohta
Asked by Sahil Dasani: What is the current daily charter rate for vessel Diamond and expected renewal rate?
p. 7
“So, Diamond is a vessel which is a typical offshore supply vessel and it is on charter with ONGC.”
Naveen Mohta, page 7 of the filed PDF · View the filing
Management said the assumption was not correct and declined to comment beyond the 15% guidance.
Answered by Sunil Gupta
Asked by Abu Rafe: Given new vessel contributions, shouldn't FY27 revenue growth exceed the 15% guidance?
p. 10
“Sir, your assumption is not right and I would not like to comment further beyond 15%.”
Sunil Gupta, page 10 of the filed PDF · View the filing
Management guided 15% revenue growth with margins in the range of 40% to 42%.
Answered by Sunil Gupta
Asked by Mahesh Kumar: Is the FY26 revenue and margin level sustainable given vessel deployment and dry-docking schedules?
p. 12
“See, while we gave a guidance that we should be doing about 15% growth in revenue, the margin should be in the range of 40% to 42%.”
Sunil Gupta, page 12 of the filed PDF · View the filing
Management said there was no one-off in Q4 and margin guidance of 40-42% is unchanged; Paladin's non-operation was a known factor.
Answered by Sunil Gupta
Asked by Amish Kanani: Was there a one-off in Q4 margins and is the margin guidance being lowered?
p. 16
“No, we are not guiding any lower level margins. Please understand, when we cautioned you in Q3, that has actually happened.”
Sunil Gupta, page 16 of the filed PDF · View the filing
Management said the impairment was a prudence-based accounting adjustment due to the geopolitical situation, not an abandonment of the business.
Answered by Sunil Gupta
Asked by Tejash: What is the status of the UK subsidiary and the impairment charge taken?
p. 15
“We have not abandoned anything. The only thing is because of the current geopolitical situation, on a prudence basis, we have just taken that impairment.”
Sunil Gupta, page 15 of the filed PDF · View the filing
Management cited the ongoing war, Paladin being stuck in Dubai, and potential rupee strengthening as risks.
Answered by Sunil Gupta
Asked by Rishi Kothari: What risks could hinder next year's growth?
p. 13
“See, there is a war that is going on for the last three years, there is a new escalation that has happened recently, we do not know what will happen.”
Sunil Gupta, page 13 of the filed PDF · View the filing
Management said subsidiaries made no major contribution, having pruned Dubai operations and sold a vessel, with another possibly to be sold.
Answered by Sunil Gupta
Asked by Tejash: What was the contribution of subsidiaries to FY26 revenue and profit?
p. 19
“See, there is no major contribution of our subsidiaries for FY26. Basically, we have pruned down the operations in Dubai.”
Sunil Gupta, page 19 of the filed PDF · View the filing
Risks flagged
Ongoing West Asia conflict disrupting sea routes and vessel operations
p. 3
“The ongoing conflict in West Asia has fundamentally altered how nations think about energy security.”
Naveen Mohta, page 3 of the filed PDF · View the filing
Seamec Paladin stranded in Dubai due to Strait of Hormuz closure
p. 5
“However, due to the ongoing war in West Asia, it continued to remain standard in the yard until the Strait of Hormuz is opened for navigation for all without any risk.”
Naveen Mohta, page 5 of the filed PDF · View the filing
Prolonged instability or broader regional conflict affecting operations
p. 4
“Given Seamec Limited exposure to offshore oilfield services, prolonged instability or a broader regional conflict could affect contractual execution timelines, asset deployment, operating costs and overall business viability.”
Naveen Mohta, page 4 of the filed PDF · View the filing
Risk to vessel operating in Saudi Aramco if situation escalates
p. 13
“There is another vessel which is right now running profitability in Saudi Aramco. If situation aggravates, that can be a risk.”
Sunil Gupta, page 13 of the filed PDF · View the filing
Rupee strengthening risk
p. 13
“Or there can be a risk of rupee strengthening.”
Sunil Gupta, page 13 of the filed PDF · View the filing
Generated by claude-sonnet-5. Source: the transcript as filed with BSE. We link to the exchange's copy; we do not host transcripts. Parakho is a data and screening tool, not an investment adviser — nothing here is a recommendation to buy, sell or hold.