• O&M contract wins: SEAMEC secured approximately Rs 740 crore worth of O&M contracts for Samudra Prabha and Samudra Sevak, which involve no capex outlay and will support higher margins, return on capital, and cash flows.
• Fleet operational updates: SEAMEC Diamond completed its mandatory 60-day dry dock with Rs 4 to 5 crore of amortizable capex, while SEAMEC Paladin is being held in Dubai for safety amid West Asia tensions and another vessel continues operating with Saudi Aramco.
• Charter rate dynamics: Rates for long-term contracts remain fixed until renewal, whereas spot contract rates for vessels like SEAMEC 3 and SEAMEC Princess are expected to perform well.
• Capital allocation framework: The company currently maintains zero net debt and targets keeping debt-to-equity within 1.5:1 and debt-to-EBITDA within 3:1 to finance the Anant acquisition and upcoming growth capex.