Seacoast Shipping Services Ltd

About

Seacoast Shipping Services Limited is providing single window logistics services to exporters and importers. Seacoast started as a freight forwarders and shipping agents in the year 2005. Today we have grown into a one of the largest freight forwarders in Gujarat. We are among the top 3 freight forwarders handling Agri export commodities exports in containers from Mundra port.

  • Market Cap 650 Cr.
  • Current Price 193
  • High / Low 265 / 45.7
  • Stock P/E 71.4
  • Book Value 13.4
  • Dividend Yield 0.26 %
  • ROCE 45.6 %
  • ROE 45.8 %
  • Face Value 10.0

Pros

  • Company has delivered good profit growth of 306.50% CAGR over last 5 years
  • Company has a good return on equity (ROE) track record: 3 Years ROE 35.92%
  • Debtor days have improved from 336.12 to 140.06 days.

Cons

  • Stock is trading at 14.42 times its book value
  • Promoter holding has decreased over last quarter: -0.59%

Peer comparison

Sector: Trading Industry: Trading

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Quarterly Results

Figures in Rs. Crores

Sep 2018 Dec 2018 Mar 2019 Jun 2019 Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020 Mar 2021 Jun 2021
0.17 -0.00 -0.00 -0.00 -0.00 -0.00 0.52 68.34 26.06 63.19 85.57 60.56
0.18 0.01 0.13 0.01 0.01 0.01 0.54 63.74 24.61 57.24 84.03 55.88
Operating Profit -0.01 -0.01 -0.13 -0.01 -0.01 -0.01 -0.02 4.60 1.45 5.95 1.54 4.68
OPM % -5.88% -3.85% 6.73% 5.56% 9.42% 1.80% 7.73%
Other Income -0.00 -0.00 0.15 -0.00 -0.00 -0.00 0.06 -0.00 -0.00 0.01 -0.01 -0.00
Interest -0.00 -0.00 -0.00 -0.00 -0.00 -0.00 -0.00 -0.00 -0.00 0.31 0.61 0.51
Depreciation -0.00 -0.00 0.02 -0.00 0.01 -0.00 0.01 0.01 0.07 0.04 -0.12 0.04
Profit before tax -0.01 -0.01 -0.00 -0.01 -0.02 -0.01 0.03 4.59 1.38 5.61 1.04 4.13
Tax % -0.00% -0.00% -0.00% -50.00% -0.00% 66.67% 25.27% 25.36% 24.60% 27.88% 24.94%
Net Profit -0.01 -0.01 0.01 -0.01 -0.03 -0.01 0.01 3.43 1.03 4.22 0.75 3.10
EPS in Rs -0.09 -0.03 0.03 10.09 0.31 1.25 0.22 0.92

Profit & Loss

Figures in Rs. Crores

Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 TTM
0 0 0 2 1 0 1 243 235
0 0 0 2 1 0 1 227 222
Operating Profit -0 -0 -0 -0 0 -0 -0 16 14
OPM % -50% -0% -6% -6% 2% -44% -10% 6% 6%
Other Income -0 0 0 0 0 0 0 -0 0
Interest -0 -0 -0 -0 -0 -0 -0 1 1
Depreciation -0 -0 -0 0 0 0 0 -0 0
Profit before tax -0 0 0 0 0 0 0 15 12
Tax % -0% -0% -0% -0% -0% -0% 40% 25%
Net Profit -0 -0 0 0 0 0 0 11 9
EPS in Rs 0.09 3.30 2.70
Dividend Payout % -0% -0% -0% -0% -0% -0% 15%
Compounded Sales Growth
10 Years:%
5 Years:272%
3 Years:458%
TTM:46662%
Compounded Profit Growth
10 Years:%
5 Years:307%
3 Years:618%
TTM:168%
Stock Price CAGR
10 Years:%
5 Years:%
3 Years:%
1 Year:344%
Return on Equity
10 Years:%
5 Years:30%
3 Years:36%
Last Year:46%

Balance Sheet

Figures in Rs. Crores

Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021
0 0 2 2 2 2 2 34
Reserves 0 0 1 1 1 1 1 11
Borrowings -0 -0 -0 0 0 0 -0 21
0 -0 1 0 0 0 0 83
Total Liabilities 0 0 5 4 4 4 4 149
-0 -0 -0 0 0 0 -0 0
CWIP -0 -0 -0 -0 -0 -0 -0 -0
Investments 0 0 0 0 -0 -0 -0 -0
0 0 5 4 4 4 4 149
Total Assets 0 0 5 4 4 4 4 149

Cash Flows

Figures in Rs. Crores

Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021
-0 -0 -1 -0 -0 0 0 -50
-0 0 -2 -0 0 -0 0 -0
-0 -0 3 0 0 -0 -0 50
Net Cash Flow -0 0 -0 -0 -0 0 0 0

Ratios

Figures in Rs. Crores

Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021
Debtor Days 548 -0 408 63 269 419 449 140
Inventory Days -0 1,095 2,080 281 135 499 -0
Days Payable -0 -0 27 -0 316
Cash Conversion Cycle 548 1,095 2,488 317 404 602 449 140
Working Capital Days 182 1,034 805 259 388 4,664 2,358 98
ROCE % 3% 1% 1% 1% 0% 1% 46%

Shareholding Pattern

Numbers in percentages

Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020 Mar 2021 Jun 2021
59.23 59.23 59.23 71.35 73.97 73.97 57.27 56.68
0.00 0.00 0.00 0.00 0.00 0.00 0.22 1.41
40.77 40.77 40.77 28.65 26.03 26.03 42.50 41.91

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