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Bhagwan Marine Ltd.
(Sydney:BWN)
Bhagwan Marine Ltd. (BWN) vs. iShares MSCI Australia ETF (EWA)
Bhagwan Marine Ltd. Business Overview & Revenue Model
Bhagwan Marine Ltd. Financial Statement Overview
| Breakdown | Dec 2024 | Dec 2023 |
|---|---|---|
Income Statement | ||
| Total Revenue | 283.04M | 269.84M |
| Gross Profit | 264.76M | 247.03M |
| EBITDA | 50.58M | 32.50M |
| Net Income | 12.49M | 5.55M |
Balance Sheet | ||
| Total Assets | 281.79M | 254.15M |
| Cash, Cash Equivalents and Short-Term Investments | 16.19M | 1.35M |
| Total Debt | 66.10M | 93.75M |
| Total Liabilities | 113.98M | 176.08M |
| Stockholders Equity | 167.81M | 78.08M |
Cash Flow | ||
| Free Cash Flow | -2.54M | 15.39M |
| Operating Cash Flow | 35.82M | 29.04M |
| Investing Cash Flow | -37.46M | -12.06M |
| Financing Cash Flow | 16.48M | -15.66M |
Bhagwan Marine Ltd. Technical Analysis
Bhagwan Marine Ltd. Peers Comparison
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
71 Outperform | AU$41.24M | 8.40 | 20.77% | 4.17% | 66.80% | 625.00% | |
67 Neutral | AU$1.14B | 30.25 | 7.98% | 1.80% | 1.81% | -23.89% | |
63 Neutral | $10.79B | 15.43 | 7.44% | 2.01% | 2.89% | -14.66% | |
61 Neutral | AU$136.22M | 10.06 | 10.16% | 1.01% | 5.28% | 124.75% | |
40 Underperform | AU$96.03M | -15.35 | -16.49% | ― | ― | -40.28% |
Bhagwan Marine Ltd. Corporate Events
Bhagwan Marine Limited has secured a five-year contract with Jadestone Energy for its Coral Knight vessel, valued at approximately AUD$15 million annually. This contract, which extends existing services, underscores Bhagwan’s strategic focus on the offshore energy sector and the growing demand for larger vessels. The Coral Knight, acquired in early 2025, has been instrumental in supporting Jadestone’s Montara Field operations, enhancing Bhagwan’s capabilities in the Australian offshore sector. The contract reflects Bhagwan’s steady growth in the offshore energy market and validates its strategic vessel acquisition, highlighting the high demand for such vessels in a competitive market.
Bhagwan Marine Ltd. has released an ASX announcement approved by its Managing Director and CEO, summarizing its operations and results for investor presentation purposes. The announcement includes financial data and non-IFRS information, cautioning investors about the risks associated with forward-looking statements and the potential for variations in actual results. Stakeholders are advised to consider these risks and not place undue reliance on projections.
Regal Funds Management Pty Ltd and its associates have ceased to be substantial holders in Bhagwan Marine Ltd. The changes in their relevant interests, including various buy and sell transactions in voting securities, indicate a shift in their investment strategy. This development may impact the company’s market dynamics and influence stakeholder perceptions regarding its financial stability and future growth prospects.
Bhagwan Marine Ltd. has announced a change in the director’s interest, specifically involving Loui Kannikoski. The company has issued performance rights as part of the FY26 remuneration package and long-term incentive opportunity for Loui Kannikoski and his spouse, Kerren Kannikoski. These changes are part of the company’s strategic efforts to align director interests with company performance, potentially impacting stakeholder confidence and company operations.
Bhagwan Marine Limited has announced a change in the director’s interest, specifically involving Andrew Wackett, who holds indirect interests through the Wackett Family Super Fund. The change includes the acquisition of 389,834 unquoted performance rights, which are subject to performance conditions and are set to vest in 2028. This adjustment in securities may impact the company’s governance and stakeholder interests, reflecting a strategic alignment of director interests with long-term company performance goals.
Bhagwan Marine Ltd. has announced the issuance of 1,351,062 performance rights under an employee incentive scheme. These securities are not quoted on the ASX and are subject to transfer restrictions. This move is part of the company’s strategy to incentivize employees, potentially impacting its operational efficiency and stakeholder engagement.
Bhagwan Marine Limited announced significant operational progress and strong financial results for fiscal 2025, its first full reporting period as a publicly listed entity. The company achieved a revenue of $283 million, a 5% increase over the previous year, and an EBITDA of $50.9 million, reflecting a 23% uplift. Bhagwan Marine’s focus on building internal capability, establishing strong governance, and refining strategic foundations has supported its growth. The company is also exploring opportunities in emerging markets and innovation in marine technologies, including partnerships for battery and hybrid vessel technology and autonomous vessel trials.
Bhagwan Marine Limited has announced a two-year extension of its contract with Jadestone Energy and Vermilion Energy, valued at approximately AUD $25 million. This extension will continue the deployment of Bhagwan’s CMV Athos vessel to support operations at the Stag and Wandoo platforms in the Carnarvon Basin, reflecting the strength of Bhagwan’s partnerships and its fleet’s capability to meet rising demand for larger vessels. The extension underscores Bhagwan’s operational excellence and positions the company strongly within the offshore project support sector.
Bhagwan Marine Ltd. announced the issuance of 2,523,698 unquoted performance rights under an employee incentive scheme. These securities are subject to transfer restrictions and are not quoted on the ASX until the restrictions end, indicating a strategic move to motivate and retain employees while potentially impacting the company’s operational dynamics and stakeholder interests.
Bhagwan Marine Limited has announced its 2025 Annual General Meeting (AGM) scheduled for October 29, 2025, in Perth, Western Australia. This marks the company’s second AGM since its listing on the Australian Securities Exchange in July 2024. Shareholders will receive the Notice of AGM and Proxy Voting Form according to their communication preferences. The AGM will address various resolutions, with voting conducted by poll, and shareholders are encouraged to vote online in advance. The announcement underscores Bhagwan Marine’s commitment to transparent communication with its stakeholders.