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SEAMEC Ltd

Q1 FY26

SEAMEC Q1 FY26 earnings call: Revenue & Margins

Q1 FY26 earnings call: what management said on revenue, margins and capex.

Price₹1,674

Market cap₹3.9K Cr

P/E15.3

Updated23 Aug 2026

Read4 min read

The short version

The company is confident on growth in terms of revenue and profitability but refrains from giving specific guidance due to business volatility. Seamec is confident of sustainable growth and value creation for stakeholders, focusing on operational excellence and timely execution of contracts (Page 14).

From SEAMEC Ltd's Q1 FY26 earnings-call transcript · updated 23 Aug 2026.

Revenue & Sales Performance

The company is confident on growth in terms of revenue and profitability but refrains from giving specific guidance due to business volatility.
Long-term contracts for vessels like Seamec Paladin (3 years left), Swordfish (2 years), Nusantara, and Anant (3-4 years) provide revenue visibility.
Expansion plans in the Middle East (Saudi Arabia, UAE, Qatar, Kuwait, Bahrain, Oman) aim to grow top line and profitability.
New vessels like Nusantara and Anant are expected to contribute from FY '26 onward with anticipated margins of 30%-35%.
The company expects sustained profitability through consistent and continuous utilization of diving support vessels.

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Profitability & Margins

Seamec is confident of sustainable growth and value creation for stakeholders, focusing on operational excellence and timely execution of contracts (Page 14).
Revenue and profitability are expected to grow, but management refrains from giving explicit guidance due to business volatility (Page 13).
Addition of two high-value vessels, Nusantara and Seamec Anant, to the fleet is expected to enhance growth and profitability with margins around 30-35% on support vessels (Pages 8, 12).
Long-term contracts for vessels (Seamec Paladin, Swordfish, Nusantara, Anant) provide revenue visibility over the next 2-4 years (Page 12).
Expansion focus on Middle East and North Sea markets to diversify revenue streams and capture growth opportunities (Pages 6, 14).

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Capital Expenditure Plans

Acquisition of vessels Nusantara and Anant is underway; Nusantara to be completed in August followed by a 3-month dry dock, Anant expected by October 2025.
New vessels will be on long-term contracts, contributing to revenue growth with expected margins of 30-35%.
Investment in UK operations involves setting up a global office to explore the North Sea market; initial project completion delayed to mid-2026 but minimal cost impact.
Part of UK investment proceeds will be repatriated to India post-project completion.
Focus on expanding the fleet, particularly DSVs, to scale operations in the Middle East (Saudi Arabia, UAE, Qatar, Kuwait, Bahrain, Oman).

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Fundraising & Capital Structure

The company has converted loans to redeemable preference shares in the past to reduce interest outflow, indicating no significant ongoing interest burden.
The UK project investment is ongoing, with timelines extended by 12-15 months, but cost impact is minimal, and part of proceeds will be repatriated to India.
Focus is on operational cash flows from vessels and prudent cost management rather than external fundraising.

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Order Book & Pipeline

Seamec's order book is strong and has expanded with the acquisition of two more vessels.
Current contracts have a remaining life of 3 to 4 years.
Seamec Paladin has about 3 years of contract life remaining.
Swordfish is on a recently started 2-year contract.
Nusantara and Anant, once acquired and deployed, will have contracts of 3 to 4 years.
Seamec 2's current contract extends till March 2026.

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SEAMEC Ltd — Quarterly revenue & net profit

Revenue Net profit Net loss

Dec 2024Q3 FY25

Mar 2025Q4 FY25

Jun 2025Q1 FY26

Sep 2025Q2 FY26

Dec 2025Q3 FY26

Mar 2026Q4 FY26

Reported quarterly figures (₹ Cr). Latest (Q4 FY26): revenue ₹327 Cr, net profit ₹104 Cr. Revenue and profit are scaled separately — hover a quarter for exact figures.

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Frequently Asked Questions

What were SEAMEC Ltd Q1 FY26 results?

The company is confident on growth in terms of revenue and profitability but refrains from giving specific guidance due to business volatility. Seamec is confident of sustainable growth and value creation for stakeholders, focusing on operational excellence and timely execution of contracts (Page 14).

What is SEAMEC Ltd share price analysis?

SEAMEC Ltd currently shows a neutral. The stock trades at a P/E of 15.3 with a market cap of ₹3,920 Cr. Investors should review the full earnings analysis for detailed insights.

Is SEAMEC Ltd planning capital expenditure?

Acquisition of vessels Nusantara and Anant is underway; Nusantara to be completed in August followed by a 3-month dry dock, Anant expected by October 2025.

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This analysis is AI-generated based on publicly available earnings data and the company's earnings call transcript. This is not investment advice. Please consult a SEBI-registered advisor before making investment decisions.