SEAMEC Ltd

SEAMEC Ltd

₹ 1,089 1.99%
28 Mar - close price
About

SEAMEC Ltd owns and operates 4 multi-support vessels for the provision of diving services, manned and unmanned subsea operations and related activities. It has also diversified into main fleet shipping vertical by acquiring 3 bulk carriers of various sizes.[1] It owns the largest fleet of multi-functional vessels in India.[2]

Key Points

Business Segment FY23

  • Market Cap 2,768 Cr.
  • Current Price 1,089
  • High / Low 1,240 / 586
  • Stock P/E 28.5
  • Book Value 288
  • Dividend Yield 0.09 %
  • ROCE 5.12 %
  • ROE 5.96 %
  • Face Value 10.0

Pros

  • Company is expected to give good quarter
  • Company's working capital requirements have reduced from 130 days to 39.0 days

Cons

  • Stock is trading at 3.78 times its book value
  • Tax rate seems low
  • Company has a low return on equity of 7.94% over last 3 years.
  • Dividend payout has been low at 0.87% of profits over last 3 years

* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.

Peer comparison

Sector: Shipping Industry: Shipping

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Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

Dec 2020 Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023
58 87 63 67 95 69 111 75 95 117 178 67 197
48 56 42 41 46 62 77 41 74 91 131 46 111
Operating Profit 11 31 21 26 48 7 34 34 21 26 48 21 86
OPM % 18% 35% 33% 39% 51% 10% 31% 45% 22% 22% 27% 32% 43%
72 7 11 14 7 12 5 12 1 -2 25 10 8
Interest 0 0 0 1 1 2 1 1 1 0 1 3 3
Depreciation 12 13 12 16 18 20 20 27 18 27 26 26 26
Profit before tax 71 24 19 24 37 -3 18 18 3 -3 45 2 65
Tax % 3% 4% 9% 6% 1% 77% -11% 11% -137% 81% 0% 0% 2%
69 23 18 22 37 -1 19 16 6 -1 45 2 63
EPS in Rs 26.95 9.20 6.91 8.74 14.41 -0.27 7.63 6.32 2.51 -0.23 17.88 0.80 24.84
Raw PDF

Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 TTM
182 337 408 350 328 208 194 304 365 229 294 399 560
174 283 380 288 291 320 160 200 213 176 191 283 379
Operating Profit 8 54 28 61 37 -112 33 103 153 53 103 116 181
OPM % 4% 16% 7% 18% 11% -54% 17% 34% 42% 23% 35% 29% 32%
18 23 15 36 23 18 19 26 30 96 44 15 41
Interest 0 0 1 1 1 3 1 1 2 1 4 4 8
Depreciation 31 37 38 37 47 48 49 48 46 43 66 93 105
Profit before tax -6 40 5 60 12 -145 2 81 136 105 77 35 109
Tax % -77% 15% 80% 10% 50% -3% 87% 5% 4% 7% 1% -17%
-10 34 1 54 6 -150 0 77 130 98 76 41 110
EPS in Rs -3.06 10.06 0.31 15.94 2.27 -58.84 0.11 30.17 51.18 38.40 29.79 16.24 43.29
Dividend Payout % 0% 0% 0% 6% 0% 0% 0% 0% 2% 3% 0% 0%
Compounded Sales Growth
10 Years: 2%
5 Years: 16%
3 Years: 3%
TTM: 60%
Compounded Profit Growth
10 Years: 1%
5 Years: 176%
3 Years: -33%
TTM: 136%
Stock Price CAGR
10 Years: 27%
5 Years: 21%
3 Years: 35%
1 Year: 83%
Return on Equity
10 Years: 6%
5 Years: 14%
3 Years: 8%
Last Year: 6%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Sep 2023
Equity Capital 34 34 34 34 25 25 25 25 25 25 25 25 25
Reserves 403 437 438 488 395 245 245 322 452 545 620 662 706
0 0 0 13 28 18 7 3 0 6 67 55 196
41 71 75 76 129 143 132 143 173 58 49 111 64
Total Liabilities 478 542 547 611 577 431 410 494 650 634 762 852 992
232 197 177 216 174 206 168 157 134 143 273 470 369
CWIP 0 0 0 0 0 1 0 0 1 0 2 0 6
Investments 3 3 3 10 34 37 45 97 180 227 274 161 205
243 342 367 385 369 187 197 240 335 265 213 221 412
Total Assets 478 542 547 611 577 431 410 494 650 634 762 852 992

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
-113 55 30 136 8 14 30 89 189 85 131 97
111 -44 17 -216 74 -4 -22 -84 -162 -85 -191 -45
-0 -0 -0 13 -96 -11 -14 -1 -3 -2 59 -14
Net Cash Flow -2 11 46 -68 -13 -1 -5 4 24 -2 -1 38

Ratios

Standalone Figures in Rs. Crores / View Consolidated

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
Debtor Days 204 142 133 130 208 191 221 196 153 122 47 96
Inventory Days
Days Payable
Cash Conversion Cycle 204 142 133 130 208 191 221 196 153 122 47 96
Working Capital Days 190 119 105 86 142 -11 29 49 78 177 175 39
ROCE % -1% 9% 1% 10% 3% -39% 1% 26% 33% 8% 11% 5%

Shareholding Pattern

Numbers in percentages

Mar 2021Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023
71.96% 72.04% 72.04% 72.04% 72.04% 72.04% 72.05% 72.05% 72.05% 72.05% 72.05% 72.05%
0.00% 2.34% 2.57% 2.59% 2.60% 2.65% 2.80% 2.82% 2.84% 2.65% 2.65% 3.05%
0.11% 0.05% 0.03% 0.03% 0.03% 0.03% 0.03% 0.01% 0.01% 0.00% 0.00% 1.78%
0.02% 0.02% 0.02% 0.02% 0.02% 0.02% 0.02% 0.02% 0.02% 0.02% 0.02% 0.02%
27.90% 25.55% 25.33% 25.31% 25.31% 25.26% 25.11% 25.10% 25.07% 25.29% 25.29% 23.11%
No. of Shareholders 9,59510,49910,98610,91612,31211,83111,43010,58111,39912,82014,11213,758

* The classifications might have changed from Sep'2022 onwards. The new XBRL format added more details from Sep'22 onwards.

Classifications such as banks and foreign portfolio investors were not available earlier. The sudden changes in FII or DII can be because of these changes.

Click on the line-items to see the names of individual entities.

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