SEAMEC Limited (SEAMECLTD) AI Stock Analysis

• Market Cap: ₹32.44B
• Dividend Yield: N/A
• Average Volume (3M): 2.67K
• Price to Earnings (P/E): 17.0
• Beta (1Y): 0.59
• Revenue Growth: -12.66%
• EPS Growth: -44.61%
• Country: IN
• Employees: 59
• Sector: Energy
• Sector Strength: 52
• Industry: Marine Shipping
• EPS (TTM): 39.18
• Shares Outstanding: 25,425,000
• 10 Day Avg. Volume: 6,690
• 30 Day Avg. Volume: 2,666
• PEG Ratio: -1.12
• Price to Book (P/B): 2.47
• Price to Sales (P/S): 3.82
• P/FCF Ratio: 10.39
• Enterprise Value/Market Cap: N/A
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: N/A
• 1Y Price Target: N/A
• Price Target Upside: N/A
• Rating Consensus: N/A
• Number of Analyst Covering: 0
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 68 Neutral
• Price Target: ₹1,408.00 ▲(28.93% Upside)

The score is primarily supported by solid financial quality (strong cash flow and stable leverage) and a clear technical uptrend. It is held back by premium valuation (high P/E) and signs of overheated momentum (very high RSI/Stoch), alongside income-statement softness from declining revenue and pressured operating margins.

Positive Factors

Cash Generation

Consistently strong operating cash conversion and improving free cash flow provide durable funding for vessel maintenance, contract mobilization and selective capex without heavy reliance on external debt. This supports operational continuity through offshore cycle variability.

Balance Sheet Stability

A solid equity base and prudent leverage give the company financial flexibility to bid large subsea contracts and absorb project timing variability. Manageable debt levels reduce refinancing risk and preserve capacity to invest in specialized assets that underpin its service offerings.

Specialized, Contracted Revenue Model

Day‑rate and project-based contracts tied to specialized vessels and subsea expertise create structural barriers to entry and multi-month revenue visibility. The mix of lump-sum and reimbursable billing dampens revenue volatility and aligns cash receipts with project execution.

Negative Factors

Declining Revenue

A double‑digit revenue decline is a persistent headwind that can reduce fleet utilization and pricing leverage. If sustained, lower top-line runs through to margins and free cash flow, limiting reinvestment in vessels or technology and weakening competitive positioning over the medium term.

Earnings Contraction

A steep EPS drop indicates material pressure on profitability, whether from lower utilization, contract mix or higher costs. Persistent earnings weakness impairs retained earnings, constrains organic investment, and makes the business more reliant on external financing for growth or fleet upkeep.

Margin and Operational Pressure

Reduced EBIT margins signal rising unit costs or weaker pricing on contracts. In an asset‑intensive subsea business, margin compression undermines free cash flow and return on capital, risking deferred maintenance or reduced competitiveness if the trend persists over several quarters.

SEAMEC Limited Business Overview & Revenue Model

Company Description

Seamec Limited provides oilfield and diving support vessel services in India and internationally. The company's services include vessel management, marine management, dive support, firefighting, subsea construction, ROV support, pipelaying, rescue operations, logistics, mooring and de-mooring, and carnage services. It also operates bulk carrier vessels for providing bulk carrier services. The company was formerly known as South East Asia Marine Engineering & Construction Limited and changed its name to Seamec Limited in June 2007. The company was incorporated in 1986 and is based in Mumbai, India. Seamec Limited is a subsidiary of HAL Offshore Limited.

How the Company Makes Money

SEAMEC Limited generates revenue through multiple streams, primarily from its shipbuilding and repair services, which cater to both commercial and governmental clients. The company earns income from contracts for constructing new vessels, as well as from maintenance and repair services for existing ships. Additionally, SEAMEC engages in offshore engineering projects, providing specialized services that include installation and maintenance for oil and gas platforms. Significant revenue also comes from partnerships with major industry players, enabling the company to secure large contracts and projects. By diversifying its service offerings and establishing strategic alliances, SEAMEC Limited enhances its financial stability and growth potential.

SEAMEC Limited Financial Statement Overview

Summary

Financials are solid overall, led by strong cash generation (cash flow score 78) and a stable balance sheet with manageable leverage (balance sheet score 72). The main drag is the income statement (score 67), where revenue decline and softer EBIT margin point to operational pressure despite decent profitability.

Income Statement

SEAMEC Limited shows a mixed performance in its income statement. The gross profit margin has been relatively stable, maintaining good profitability. However, there is a noticeable decline in revenue from the previous year, indicating some challenges in growth. The net profit margin is decent, but the reduction in EBIT margin suggests increased operational pressures. Overall, while profitability metrics are positive, the revenue decline and reduced margins indicate some instability.

Balance Sheet

The company maintains a strong equity base, which provides a solid foundation for future growth. The debt-to-equity ratio is manageable, suggesting prudent financial leverage. Return on equity has been strong, indicating effective use of equity capital. However, the reduction in total assets and stockholders' equity over the years signals potential asset management issues. Overall, the balance sheet reflects financial stability with some areas needing improvement.

Cash Flow

SEAMEC Limited's cash flow statement shows strength with a positive operating cash flow to net income ratio, indicating effective cash generation from operations. The free cash flow has seen significant improvement, reflecting better cash management. The ability to generate free cash flow, despite past fluctuations, demonstrates resilience and operational efficiency. Overall, the cash flow position is robust, supporting the company’s operations and potential investments.

Breakdown	TTM	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	6.48B	6.52B	7.29B	4.37B	3.49B	2.56B
Gross Profit	3.05B	1.40B	1.68B	1.06B	1.12B	635.02M
EBITDA	1.81B	2.53B	2.72B	1.47B	1.76B	1.69B
Net Income	1.16B	896.20M	1.20B	330.06M	832.11M	985.62M
Balance Sheet
Total Assets	0.00	13.79B	14.07B	10.64B	9.71B	8.59B
Cash, Cash Equivalents and Short-Term Investments	1.40B	1.40B	1.37B	785.89M	1.15B	608.65M
Total Debt	0.00	2.31B	3.27B	1.39B	1.27B	958.06M
Total Liabilities	-10.07B	3.72B	4.95B	2.73B	2.19B	1.95B
Stockholders Equity	10.07B	10.08B	9.11B	7.90B	7.48B	6.62B
Cash Flow
Free Cash Flow	0.00	2.40B	-1.72B	-2.39B	-1.12B	44.68M
Operating Cash Flow	0.00	2.93B	1.50B	532.84M	939.42M	1.06B
Investing Cash Flow	0.00	-1.75B	-3.18B	-49.81M	-1.27B	-1.25B
Financing Cash Flow	0.00	-961.90M	1.42B	-417.69M	428.79M	-215.88M

SEAMEC Limited Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 1092.10
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Negative
• RSI: Negative
• STOCH: Negative

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:SEAMECLTD, the sentiment is Positive. The current price of 1092.1 is below the 20-day moving average (MA) of 1116.34, above the 50-day MA of 1046.79, and above the 200-day MA of 922.10, indicating a bullish trend. The MACD of 52.72 indicates Negative momentum. The RSI at 78.33 is Negative, neither overbought nor oversold. The STOCH value of 91.28 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for IN:SEAMECLTD.

SEAMEC Limited Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
SELAN	72 Outperform	₹19.38B	18.80	―	―	0.34%	-12.23%
DOLPHIN	69 Neutral	₹18.15B	35.82	―	―	212.48%	135.64%
JINDRILL	69 Neutral	₹13.93B	5.88	―	0.18%	34.80%	252.88%
SEAMECLTD	68 Neutral	₹32.44B	16.99	―	―	-12.66%	-44.61%
Sector *	65 Neutral	$15.17B	7.61	4.09%	5.20%	3.87%	-62.32%
HINDOILEXP	58 Neutral	₹20.54B	14.55	―	―	-16.59%	-16.91%
DEEPINDS	52 Neutral	₹23.81B	-60.55	―	0.67%	55.21%	-128.34%

SEAMEC Limited Corporate Events

SEAMEC Sends Key Vessel to Dubai for Statutory Drydocking Before Returning to ONGC Charter

SEAMEC Limited has announced that its vessel SEAMEC PALADIN sailed to Dubai on 17 January 2026 to undergo statutory drydocking, a mandatory maintenance and inspection procedure. Following completion of this drydock, the vessel is scheduled to return to India to resume its long-term charter with ONGC, indicating that the company is performing required upkeep to ensure operational continuity and regulatory compliance on a key asset supporting its offshore oil and gas service commitments.

Seamec’s Vessel SEAMEC AGASTYA Returns to Service After Technical Fix

Seamec Limited has reported that its offshore vessel SEAMEC AGASTYA, which had been off-hire for technical reasons, has completed technical redressal and returned to operational status, resuming hire from January 16, 2026 at 22:00 hours. The redeployment of SEAMEC AGASTYA restores a key asset to Seamec’s active fleet, supporting revenue continuity from this vessel and signalling normalization of operations after the recent technical interruption, which is relevant for customers relying on its offshore services and for investors tracking fleet utilization and earnings impact.

SEAMEC Takes Offshore Vessel SEAMEC PALADIN Off Hire for 70-Day Statutory Dry-Docking

SEAMEC Limited has temporarily taken its offshore vessel SEAMEC PALADIN off hire effective 10 January 2026 to undertake statutory dry-docking for an estimated period of around 70 days. The scheduled maintenance, which follows the completion of necessary formalities, will temporarily reduce the vessel’s revenue-generating deployment but is essential to ensure regulatory compliance, seaworthiness and operational reliability, with implications for short-term utilization while supporting the company’s longer-term fleet readiness and service capability.

SEAMEC III Vessel Charter Completion and Off-Hire

SEAMEC Limited announced that its vessel, SEAMEC III, has completed its charter with A.D. Engineers & Contractors LLP and has been off-hired as of December 16, 2025. This development may impact SEAMEC’s operational scheduling and resource allocation, potentially affecting its market positioning and stakeholder interests.

SEAMEC Limited’s Vessel ‘SEAMEC AGASTYA’ Arrives in India Post-Drydock

SEAMEC Limited announced the arrival of its vessel ‘SEAMEC AGASTYA’ in India after completing drydock maintenance in Colombo. The vessel is currently undergoing customs formalities and other necessary compliances before commencing its charter operations. This development marks a significant step in SEAMEC’s operational activities, potentially enhancing its service offerings and market presence in the offshore sector.

SEAMEC Limited’s MV GOODMAN Faces Temporary Off-hire

SEAMEC Limited announced that its vessel, MV GOODMAN, has been temporarily off-hired due to a technical issue as of November 18, 2025. The company anticipates that the repairs will be completed shortly, and the vessel will return to operation without affecting the overall project schedule, indicating minimal impact on their operations and commitments.

SEAMEC Limited Releases Earnings Call Recording for Investor Engagement

SEAMEC Limited announced the availability of an audio recording from its recent earnings call discussing financial results for the quarter and half year ending September 30, 2025. This move reflects SEAMEC’s transparency and engagement with analysts and institutional investors, potentially impacting investor confidence and market perception.