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SEAMEC
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Company History
SEAMEC Limited (Formerly known South East Asia Marine Engineering & Construction Limited), promoted by Peerless General Finance & Investment Company, the flagship of the Peerless Group is an established, reputed name in the offshore shipping industry, providing offshore oilfield services and Diving Support Vessels (DSV) in India and abroad. The Company provide DSVs and Turnkey subsea solutions requiring provision of Divers and ROVs etc., as well as third party vessel management services for DSVs. The Company owns and operates four Multi Support Vessels for providing support services including marine, construction and diving services to offshore oilfields and bulk carrier vessel for providing bulk carrier services. SEAMEC's offshore fleets include SEAMEC II, SEAMEC III, SEAMEC PRINCESS and SUBTECH PALADIN which are multi-support, multi-functional DSVs.
The company has the experience of operating 3 multi-purpose support vessels (MSVs) (including two from ONGC) for more than 5 years in the areas of sub-sea engineering and deep-sea diving services. It came out with a public issue in 1995 to part-finance the acquistion of two MSVs, to meet long-term working capital requirements and to meet the expenses of the public issue.
South East Asia is the first company in the private sector to operate the ONGC-owned MSV, Samudra Prabha. The company was also awarded a contract to operate another ONGC-owned MSV, Samudra Sevak, for two years.
The company, at present, has a sub-contracting arrangement with Stena Offshore. Apart from this, the company has entered into a MoU with Rompetrol, Romania, for technical know-how and equipment back-up for oilfield services. It plans to venture in sub-sea operations on a grand scale, like sea-bed pipe laying and other underwater work such as laying cables for telecommunication projects.
Coflexip Tena Offshore (CSO), has increased its holding in the Company to 58.24% during October 1999. The Company has entered into an arrangement with Coflexip Stena Offshore Ltd., Aberdeen UK for technical and engineering support services.
ONGC has floated a tender for the operations and management of its three owned MSVs Samudra Sevak, Samudra Prabha and Samudra Suraksha and bids have been submitted by the Company to ONGC for all three vessels.
Pursuant to order dated 9th September, 2002 of Securities and Exchange Board of India (SEBI) read with order dated 25th October, 2002 of Securities Appellate Tribunal (SAT), Technip-Coflexip S.A. France along with Coflexip Stena Offshore (Mauritius) Ltd. (CSOML), the Company's holding company and Person acting in concert acquired 6,780,000 shares comprising 20% in the Share Capital of Company. Consequently CSOML's shareholding in the Company increased from 58.24% to 78.24%.
On 12 June 2006, the Company took delivery of a British flag cable laying vessel named as 'Oceanic Princess' from James (Fisher) Logistics Limited of UK costing USD 18.25 million. The vessel was renamed as 'SEAMEC PRINCESS'.
In 2006, the Company installed Saturation Diving System Onboard in Aug' 06 costing USD 1.65 million (Rs. 74 million). The vessel 'SEAMEC PRINCESS' was made ready and put to hire effective from 1st March 2009. The Company set up a wholly owned subsidiary by name and style 'SEAMEC INTERNATIONAL FZE' in Dubai Airport Free Zone ( DAFZA), Dubai, UAE on 14th March 2010 for carrying out operations. The Vessel owned by SEAMEC INTERNATIONAL FZE, was taken under Bareboat Charter, deployed in West Africa for a project with Technip effective from Jan' 2012.
With the acquisition of 51% shares by HAL Offshore Limited in first Tranche of disinvestment by Coflexip Stena Offshore (Mauritius) Limited (CSOML), the Company became a subsidiary of HAL Offshore Limited during year 2013-14. The Company acquired a utility vessel by name 'REVELATION' under BELIZE Flag, which was taken over on 19th March, 2015 at Singapore costing USD 2.6 Million. The Company in 2017, diversified into the main fleet shipping business, acquiring a vessel portfolio of four bulk carriers through their subsidiaries that facilitate marine transportation of various dry-bulk materials, including food staples, commodities, industrial products, and scrap. The newly Bulk Carrier 'SEAMEC GALLANT' was acquired in 2018.
During 2020-21, the subsidiary, Seamate Shipping FZC purchased a bulk carrier named 'ASIAN PEARL' for an aggregate amount of US$ 5,050,000. The Company incorporated a subsidiary 'Seamec Nirman Infra Limited' in joint venture with NirmanVridhi Infra LLP in the ratio of 65:35. It acquired a Multi Support Vessel named 'Seamec Paladin' and an accommodation Barge named as 'Seamec Glorious' in year 2021-22.
The Board of Directors of Company in its meeting held on March 28, 2022, approved Scheme of Arrangement for Demerger of Marine, EPC and Other Ancillary Business of HAL Offshore Ltd (Demerged Company) into Seamec Limited (the Resulting Company), effective from April 01, 2023. The Company acquired a new Multi Support Vessel 'SUBTECH SWORDFISH' , increasing its fleet size to 5 nos. of MSVs and 1 no. of Barge during year 2022-23. The newly Bulk Carrier 'SEAMEC GALLANT' was transferred to Company's wholly owned subsidiary, SEAMEC International FZE, on April 18, 2023.
SEAMEC Share Price
SEAMEC share price reflects investor sentiment toward the company and is impacted by various factors such as financial performance, market trends, and economic conditions. Share price is an indicator which shows the current value of the company's shares at which buyers or sellers can transact.
SEAMEC Market Cap
Market capitalization of SEAMEC indicates the total value of its outstanding shares. Marketcap is calculated by multiplying share price and outstanding shares of the company. It is a helpful metric for assessing the company's size and market Valuation. It also helps investors understand how SEAMEC is valued compared to its competitors.
SEAMEC PE Ratio
SEAMEC PE ratio helps investors understand what is the market value of each stock compared to SEAMEC 's earnings. A PE ratio higher than the average industry PE could indicate an overvaluation of the stock, whereas a lower PE compared to the average industry PE could indicate an undervaluation.
SEAMEC PEG Ratio
The PEG ratio of SEAMEC evaluates its PE ratio in relation to its growth rate. A PEG ratio of 1 indicates a fair value, a PEG ratio of less than 1 indicates undervaluation, and a PEG ratio of more than 1 indicates overvaluation.
SEAMEC ROE (Return on Equity)
Return on Equity (ROE) measures how effectively SEAMEC generates profit from shareholders' equity. A higher ROE of more than 20% indicates better financial performance in terms of profitability.
SEAMEC ROCE (Return on Capital Employed)
Return on Capital Employed (ROCE) evaluates the profitability of SEAMEC in relation to its capital employed. In simple terms, ROCE provides insight to investors as to how well the company is utilizing the capital deployed. A high ROCE of more than 20% shows that the business is making profitable use of its capital.
SEAMEC Total Debt
Total debt of SEAMEC shows how much the company owes to either banks or individual creditors. In simple terms, this is the amount the company has to repay. Total debt can be a very useful metric to show the financial health of the company. Total debt more than equity is considered to be a bad sign.
SEAMEC Debt to Equity Ratio
The Debt-to-Equity (DE) ratio of SEAMEC compares its total debt to shareholders' equity. A higher Debt to Equity ratio could indicate higher financial risk, while a lower ratio suggests that the company is managing its debt efficiently.
SEAMEC CAGR (Compound Annual Growth Rate)
CAGR shows the consistent growth rate of SEAMEC over a specific period, whether it is over a month, a year, or 10 years. It is a key metric to evaluate the company’s long-term growth potential. Main metrics for which CAGR is calculated are net sales, net profit, operating profit, and stock returns.
SEAMEC Technical Analysis
Technical analysis of SEAMEC helps investors get an insight into when they can enter or exit the stock. Key components of SEAMEC Technical Analysis include:
Support Levels (S1, S2, S3)
There are usually multiple support levels, but the main support levels for a stock are S1, S2, S3. Support levels indicate price points where stock might get support from buyers, helping the stock stop falling and rise.
Resistance Levels (R1, R2, R3)
There are usually multiple resistance levels, but the main resistance levels for a stock are R1, R2, R3. Resistance levels represent price points where SEAMEC shares often struggle to rise above due to selling pressure.
SEAMEC Dividends
Dividends refer to the portion of the company’s profits distributed to its shareholders. Dividends are typically paid out in cash and reflect SEAMEC ’s financial health and profitability.
SEAMEC Bonus Shares
Bonus shares are usually given by companies to make the stock more affordable, increase liquidity, boost investor confidence, and more.
SEAMEC Stock Split
Stock split increases the number of its outstanding shares by dividing each existing share into multiple shares. When the company offers a stock split, the face value of the stock reduces in the same proportion as the split ratio.
SEAMEC Financials
The financials of SEAMEC provide a complete view to investors about its net sales, net profit, operating profits, expenses, and overall financial health. Investors can analyze financial data to assess the company’s stability and also understand how the company has been growing financially.
SEAMEC Profit and Loss Statements
The profit and loss statement of SEAMEC highlights its net sales, net profit, total expenditure, and operating profits in the current financial year. This Profit and Loss statement is crucial for evaluating the profitability and financial stability of SEAMEC .
SEAMEC Balance Sheet
The balance sheet presents a snapshot of SEAMEC ’s assets, liabilities, and equity of shareholders, providing insights into the financials of the company.
SEAMEC Cashflow Statements
Cashflow statements track the company's cash inflows and outflows over a period. It is an essential tool for understanding how well the company manages its liquidity and finances.
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