Seamec Limited
SEAMECLTD.BO · BSE
Company research
Seamec Limited (BSE: SEAMECLTD.BO) is a Mumbai-based leading provider of Diving Support Vessels (DSVs) and Offshore Support Vessels (OSVs), delivering a comprehensive range of offshore oilfield and subsea engineering services to clients in India and internationally. Originally incorporated in 1986 as Peerless Shipping & Oilfield Services Limited, the company was rebranded as SEAMEC Limited in 2007 and has since operated as a subsidiary of HAL Offshore Limited, which holds approximately 70% of its shares. The company's fleet comprises six DSVs, one OSV, and one Accommodation Barge, deployed for services including ROV operations, pipeline inspection and maintenance, subsea construction, and diving support for the offshore oil and gas industry, alongside two bulk carriers providing dry bulk marine transportation. Beyond its marine operations, Seamec also participates in Engineering, Procurement, and Construction (EPC) tunnel projects, underscoring its diversified presence within the broader industrials sector.
Research reports
Data‑driven equity research dashboard highlighting that Seamec trades at a P/E of about 13.4x, below the Indian market’s 23.6x, while delivering 180.5% earnings growth over the past year and 56.4% share‑price appreciation, though flagging a high level of non‑cash earnings as a key risk. The overall tone is constructive on valuation and profitability, but cautious about earnings quality and sustainability.
MarketsMojo · March 11, 2026SEAMEC Ltd Stock Analysis & RecommendationQuantitative fundamental and technical report rating SEAMEC Ltd as “Hold,” noting strong long‑term operating profit growth (~44% CAGR over five years) and improving debt‑servicing ability but also very expensive valuation metrics (P/E about 18x, EV/EBITDA ~11x, EV/Sales ~4.4x) and modest ROE/ROCE. The thesis is that the stock has delivered market‑beating multi‑year returns and has solid fundamentals, yet current pricing leaves limited margin of safety, so investors are advised neither to aggressively buy nor to fully exit.
AlphaStreet · February 1, 2026SEAMEC Ltd. Quarterly Update Q3 FY26 and 9M FY26Earnings‑focused update describing Q3 FY26 as a record quarter, with standalone revenue up 139% YoY and 246% QoQ to ₹316.5 crore and EBITDA up 296% YoY, driving margin expansion to about 45%, alongside PAT jumping to roughly ₹101 crore as vessel deployment and ONGC project execution ramped up. For 9M FY26, it emphasizes 40% revenue growth and 173% PAT growth year‑on‑year, attributing performance to higher utilization and project wins while acknowledging rising manpower, professional fee, and finance costs.