Seamec Limited · NSE:SEAMECLTD
Seamec — Q4 FY24 Earnings Presentation
35 slides from Seamec's earnings presentation, May 28, 2024
Slide 1: Intimation of Investor Presentation to NSE
SEAMEC/NSE/PRESENATION/SMO/2805/2024 May 28, 2024 National Stock Exchange of India Limited Exchange Plaza Plot No. C/1, G Block, Bandra-Kurla Complex, Bandra (East) Mumbai - 400 051 Trading Symbol: “SEAMECLTD” Sub: Investor Presentation of the Investor Meet of SEAMEC LIMITED (‘the Company’) Ref: a.
Slide 2: Seamec Limited Investors Presentation Q4 FY24
SEAMEC LIMITED Investors Presentation | Q4 FY24
Slide 3: Safe Harbour Statement
Safe Harbour Statement Quarterly Update This presentation and the accompanying slides (the “Presentation”), which have been prepared by Seamec Limited (the “Company” or “Seamec”), have been prepared solely for information purposes and do not constitute any offer, recommendation or invitation to purc
Slide 4: Quarterly Update
SEAMEC LIMITED Quarterly Update
Slide 5: Standalone Financial Highlights of Q4 and FY24
Standalone Financial Highlights of Q4 And FY24 Revenue EBITDA Cash Profit PAT 234 105 101 76 94 91 Quarterly 205 63 115 24 24 -1 Q4FY23 Q3FY24 Q4FY24 Q4FY23 Q3FY24 Q4FY24 Q4FY23 Q3FY24 Q4FY24 Q4FY23 Q3FY24 Q4FY24 707 290 278 187 71% 121% 118% 352% Annual 415 131 128 41 FY23 FY24 FY23 FY24 FY23 FY24
Slide 6: Standalone Financial Highlights of Q4 FY24
Standalone Financial Highlights of Q4 FY24 Rs. In crore Particulars Q4 FY24 Q4FY23 Y-o-Y% Q3FY24 Q-o-Q% Revenue 234.3 115.3 103% 205.2 14% Operating Expenses 129.5 91.3 111.2 EBITDA 104.8 24.0 337% 94.0 12% EBITDA Margin 44.7% 20.8% 45.8% Finance Cost 3.9 0.1 3.1 Cash Profit 101.0 23.9 323% 90.9 11%
Slide 7: Standalone Financial Highlights of FY24
Standalone Financial Highlights of FY24 Rs. In crore Particulars FY24 FY23 Y-o-Y% Revenue 706.7 414.5 71% Operating Expenses 417.2 283.3 EBITDA 289.5 131.2 121% EBITDA Margin 41.0% 31.6% Finance Cost 11.4 3.3 Cash Profit 278.2 127.9 118% Depreciation 105.8 92.7 Profit Before Exceptional Items 172.4
Slide 8: Standalone Key Financial Ratios
Standalone Financial Highlights of FY24 Key Financial Ratios Rs. 234 Cr 0.04 X 17% Gross Debt Net Debt/Equity ROCE Rs. 34 Cr 0.12 X 21% Net Debt Net Debt/EBITDA ROE Seamec Limited | Investors Presentation 77
Slide 9: Consolidated Financial Highlights of Q4 FY24
Consolidated Financial Highlights of Q4 FY24 Rs. In crore Particulars Q4 FY24 Q4FY23 Y-o-Y% Q3FY24 Q-o-Q% Revenue 239.5 124.6 92% 219.1 9% Operating Expenses 149.1 99.0 122.7 EBITDA 90.42 25.6 253% 96.42 -6% EBITDA Margin 37.8% 20.5% 44.0% Finance Cost 5.1 1.2 4.5 Cash Profit 85.3 24.4 250% 91.93 -7
Slide 10: Consolidated Financial Highlights of FY24
Consolidated Financial Highlights of FY24 Rs. In crore Particulars FY24 FY23 Y-o-Y% Revenue 758.1 457.2 66% Operating Expenses 487.1 310.8 EBITDA 271.1 146.4 85% EBITDA Margin 35.8% 32.0% Finance Cost 16.3 6.8 Cash Profit 254.8 139.6 83% Depreciation 134.8 112.0 Profit Before Exceptional Items 120.0
Slide 11: Consolidated Key Financial Ratios
Consolidated Financial Highlights of FY24 Key Financial Ratios Rs. 307 Cr 0.05 X 11% Gross Debt Net Debt/Equity ROCE Rs. 48 Cr 0.18 X 13% Net Debt Net Debt/EBITDA ROE Seamec Limited | Investors Presentation 10 10
Slide 12: Business Updates – Q4 FY24
Business Updates – Q4 FY24 Seamec Diamond Acquired an Offshore Support Vessel “Seamec Diamond” for USD 7 million. Takeover completed on 2nd January 2024. Expected to be deployed with ONGC from Q1 FY25 for a period of 3 years at USD 8,750/- per day Seamec Pearl Entered into agreement to purch
Slide 13: Company Overview
SEAMEC LIMITED Company Overview
Slide 14: Our Journey
Our Journey 2010 2020-22 Expansion Expansion o Stepdown Subsidiary o Incorporated WOS “Seamate ShippinFZC” “Seamec International FZE” o Formed JV “Seamec Nirman Infra Ltd” for Tunnel projects o Expanded fleet by addition of Paladin, Swordfish and Glorious Barge. 2023 1986-2001 Current Status 2014 Or
Slide 15: Company Overview
Company Overview Visionary Leadership • Under a dynamic leadership of Mr. Sanjeev Agarwal - Chairman of MMG, we have earned a reputation of a reliable and preferred player in Offshore Oilfield and Main Fleet shipping industry Acquisition of Asian Pearl • Under a joint venture agreement between Seame
Slide 16: Key Competitive Strengths
Key Competitive Strengths Strong parentage of Technical expertise and Low maintenance cost MMG strengthening financial strength due to proactive financial position and boosting us to a leading preventive maintenance market reputation position in tendering process 01 02 03 04 05 06 07 A formidable pl
Slide 17: Broad Range of Services
Broad Range of Services IMR Operations ROV Operations Subsea Construction Pollution Control Fire Fighting Rescue Operations • Carrying out Inspection, • Supporting Remotely • Undertaking operations • Facilitating pollution • Supporting sub-sea fire • Undertaking Rescue Maintenance, and Repair Operat
Slide 18: Our Marquee Clients
Our Marquee Clients Oilfield Services Bulk Carrier Services Seamec Limited | Investors Presentation 17
Slide 19: Adhering to Highest Safety Standards
Adhering to Highest Safety Standards Complying with QHSE Standards We acknowledge our responsibility towards ensuring environmental sustainability and operational safety and strictly adhere to Quality, Health, Safety, Environmental (QHSE) standards. We are fully compliant with: ISO 9001:2015 ISO 140
Slide 20: Promoting Environmental and Oceanic Sustainability
Promoting Environmental and Oceanic Sustainability Adhering to Ballast Comprehensive Utilizing Low Sulphur Minimizing Plastic Lowering Consumption Water Management Waste Management Content Diesel Use of Electricity and Paper (BWM) Regulations procedures Compliant with IMO regulations All vessels ful
Slide 21: Indian Industry Landscape
(!) SEAMEC LIMITED Indian Industry Landscape
Slide 22: Indian Offshore Oilfield Industry
Indian Offshore Oilfield Industry Indian offshore oilfield industry provides critical support to the country’s Oil & Gas sector which plays a key role in Indian economic development. India’s share in global oil consumption lower than that of US and China Increasing Growing Demand Policy Support Inve
Slide 23: Indian Offshore Oilfield Industry (Contd.)
Indian Offshore Oilfield Industry (Contd.) Current Oil Industry Dynamics India currently imports about 85% of oil and about 50% gas that it consumes. Fuelled by the fast growth in GDP, the rising demand for fuel has resulted in India importing almost 87% of its domestic consumption in FY 2022-23. Pr
Slide 24: Growth Drivers for Indian Oil and Gas Industry
Indian Offshore Oilfield Industry (Contd.) Growth Drivers for Indian Oil and Gas Industry Growing Demand • Oil demand in India is projected to register a 2x growth by 2045. • Diesel demand in India is expected to double to 163 MT by 2029-30, with diesel and gasoline covering 58% of India’s oil deman
Slide 25: Indian Offshore Oilfield Industry (Contd.)
Indian Offshore Oilfield Industry (Contd.) Indian offshore oilfield services industry is well poised to grow in the backdrop of the rising energy demand of the country. • Increasing Oil & Gas E&P activities backed by rising demand for oil and • The government targeting to lower gas dependence on oil
Slide 26: ONGC – A Key Oil & Gas Player
ONGC – A Key Oil & Gas Player India has signed contracts for ten oil and gas exploration blocks offered under the recent Open Acreage Licensing Policy (OALP-VIII) bid round. ONGC emerged as the dominant player in the OALP-VIII bid round, securing seven out of ten blocks Discoveries during FY23 Sr. N
Slide 27: SEAMEC: Strong Asset Portfolio
SEAMEC LIMITED SEAMEC: Strong Asset Portfolio
Slide 28: Asset Portfolio – Diving Support Vessels
Asset Portfolio – Diving Support Vessels o Diving Support Vessels are specialized ships designed to facilitate offshore diving operations quipped with dedicated facilities for divers, advanced diving equipment, and control systems o DSVs provides services, which include S.B.M maintenance removal and
Slide 29: Asset Portfolio – Diving Support Vessels
Asset Portfolio – Diving Support Vessels SEAMEC PALADIN SEAMEC SWORDFISH Built Year: 2008 Built Year: 2007 Procurement Year: 2021 Procurement Year: 2023 Gross Tonnage: 5,648 Gross Tonnage: 5,372 Seamec Limited | Investors Presentation 28
Slide 30: Asset Portfolio – Offshore Support Vessels
Asset Portfolio – Offshore Support Vessels o Offshore Support Vessels (OSVs) are specially designed ships for the logistical servicing of offshore platforms and subsea installations, from installation through the full-service life of offshore fields o They are integral to getting supplies and materi
Slide 31: Asset Portfolio – Barge
Asset Portfolio – Barge o An AWB is a specialized vessel designed for operating in shallow water areas or where the risk of failure of machine can cause severe consequential losses. o AWB is also used for providing accommodation to offshore personnel to work. o AWB is used for carrying out Saturatio
Slide 32: Asset Portfolio – Bulk Carrier
Asset Portfolio – Bulk Carrier o Bulk carriers are specialized vessels designed for the efficient transportation of large quantities of dry bulk cargo, including commodities like coal, iron ore, and grains. o We own and operate three main fleet shipping bulk carriers of varying tonnage capacities, p
Slide 33: Experienced Management Team
SEAMEC LIMITED Experienced Management Team
Slide 34: Experienced Management Team
Experienced Management Team Board of Directors Key Management Mr. Surinder Singh Kohli Mr. Rakesh Ayri Independent Director Chief Executive Officer 42+ years experience in the banking industry. 40 Yrs experience in Oil & Gas Industry, ship He has been a Chairman and MD of Punjab & Sind Bank, Punjab
Slide 35: Thank You
For further information, please contact: Investor Relations Advisors : Registered & Corporate Office Orient Capital (a division of Link Group) A 901-905, 9th Floor, 215 Atrium, Andheri Kurla Road, Mr. Nikunj Jain Andheri East, Mumbai - 400 093 +91 9769060608 Tel: (022) 6694 1800 Fax: (022) 6694 1818