SEAMEC Ltd

₹ 626 -0.46%

21 Sep - 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

Website BSE NSE

Market Cap ₹ 1,591 Cr.
Current Price ₹ 626
High / Low ₹ 1,249 / 562
Stock P/E 29.3
Book Value ₹ 270
Dividend Yield 0.16 %
ROCE 5.12 %
ROE 5.96 %
Face Value ₹ 10.0

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Pros

Company is almost debt free.
Company is expected to give good quarter
Company's working capital requirements have reduced from 130 days to 39.0 days

Cons

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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Detailed Comparison with:

Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

	Jun 2020	Sep 2020	Dec 2020	Mar 2021	Jun 2021	Sep 2021	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023
	31	53	58	87	63	67	95	69	111	75	95	117	195
	37	35	48	56	42	41	46	62	77	41	74	91	147
Operating Profit	-6	18	11	31	21	26	48	7	34	34	21	26	48
OPM %	-20%	33%	18%	35%	33%	39%	51%	10%	31%	45%	22%	22%	24%
	10	7	72	7	11	14	7	12	5	12	1	-2	25
Interest	0	0	0	0	0	1	1	2	1	1	1	0	1
Depreciation	9	9	12	13	12	16	18	20	20	27	18	27	26
Profit before tax	-5	15	71	24	19	24	37	-3	18	18	3	-3	45
Tax %	-50%	11%	3%	4%	9%	6%	1%	77%	-11%	11%	-137%	81%	0%
	-8	14	69	23	18	22	37	-1	19	16	6	-1	45
EPS in Rs	-3.15	5.40	26.95	9.20	6.91	8.74	14.41	-0.27	7.63	6.32	2.51	-0.23	17.85
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	482
	174	283	380	288	291	320	160	200	213	176	191	283	353
Operating Profit	8	54	28	61	37	-112	33	103	153	53	103	116	129
OPM %	4%	16%	7%	18%	11%	-54%	17%	34%	42%	23%	35%	29%	27%
	18	23	15	36	23	18	19	26	30	96	44	15	36
Interest	0	0	1	1	1	3	1	1	2	1	4	4	4
Depreciation	31	37	38	37	47	48	49	48	46	43	66	93	99
Profit before tax	-6	40	5	60	12	-145	2	81	136	105	77	35	63
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	67
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	26.45
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:	41%

Compounded Profit Growth
10 Years:	1%
5 Years:	176%
3 Years:	-33%
TTM:	-30%

Stock Price CAGR
10 Years:	31%
5 Years:	20%
3 Years:	16%
1 Year:	-46%

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
	34	34	34	34	25	25	25	25	25	25	25	25
Reserves	403	437	438	488	395	245	245	322	452	545	620	662
	0	0	0	13	28	18	7	3	0	6	67	55
	41	71	75	76	129	143	132	143	173	58	49	111
Total Liabilities	478	542	547	611	577	431	410	494	650	634	762	852
	232	197	177	216	174	206	168	157	134	143	273	470
CWIP	0	0	0	0	0	1	0	0	1	0	2	0
Investments	3	3	3	10	34	37	45	97	180	227	274	161
	243	342	367	385	369	187	197	240	335	265	213	221
Total Assets	478	542	547	611	577	431	410	494	650	634	762	852

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

	Sep 2020	Dec 2020	Mar 2021	Jun 2021	Sep 2021	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023
	71.96%	71.96%	71.96%	72.04%	72.04%	72.04%	72.04%	72.04%	72.05%	72.05%	72.05%	72.05%
	2.60%	2.60%	0.00%	2.34%	2.57%	2.59%	2.60%	2.65%	2.80%	2.82%	2.84%	2.65%
	0.12%	0.12%	0.11%	0.05%	0.03%	0.03%	0.03%	0.03%	0.03%	0.01%	0.01%	0.00%
	0.02%	0.02%	0.02%	0.02%	0.02%	0.02%	0.02%	0.02%	0.02%	0.02%	0.02%	0.02%
	25.29%	25.29%	27.90%	25.55%	25.33%	25.31%	25.31%	25.26%	25.11%	25.10%	25.07%	25.29%
No. of Shareholders	10,024	9,735	9,595	10,499	10,986	10,916	12,312	11,831	11,430	10,581	11,399	12,820

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Jun 2023
	72.87%	69.57%	69.57%	71.51%	71.96%	72.04%	72.05%	72.05%
	0.00%	3.29%	3.29%	2.60%	0.00%	2.60%	2.84%	2.65%
	0.56%	0.65%	0.15%	0.14%	0.11%	0.03%	0.01%	0.00%
	0.02%	0.02%	0.02%	0.02%	0.02%	0.02%	0.02%	0.02%
	26.55%	26.47%	26.97%	25.72%	27.90%	25.31%	25.07%	25.29%
No. of Shareholders	16,606	11,353	10,035	9,830	9,595	12,312	11,399	12,820

* 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.

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SEAMEC Ltd

SEAMEC Ltd

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Quarterly Results

Profit & Loss

Balance Sheet

Cash Flows

Ratios

Shareholding Pattern

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