• Vessel deployment status: The vessel SEAMEC Paladin has returned to Mumbai after being stranded in Dubai due to geopolitical tensions and has resumed its ONGC contract. All company vessels are currently fully deployed or have deployment visibility, leaving no idle capacity.
• Fleet expansion plans: Supported by sectoral tailwinds, SEAMEC is actively negotiating with multiple owners to acquire additional tonnage and will announce developments once finalized. The company also anticipates extending its relationship with Lamprell beyond the initial 180-day barge charter for SEAMEC Glorious.
• European business strategy: Following an intentional impairment taken on its UK subsidiary due to geopolitical pricing pressures, the company continues to evaluate cautious expansion into the demanding North Sea market.
• FY27 growth guidance: Management reaffirmed its FY27 target of 15% growth in both top line and bottom line, noting that core operations across Indian coastal waters and Saudi Arabia remain unaffected by regional geopolitical volatility.
• EBITDA margin outlook: Full-year EBITDA margins are expected to comfortably hold between 40% and 42%, with potential upside from new contracts. Management attributed quarterly margin fluctuations to seasonal downtime during the monsoon season.