ABS Marine Services has secured a long-term charter contract valued at ₹126.12 crore from Hardy Exploration & Production (India) Inc. for its Anchor Handling Tug Supply (AHTS) vessel, MV ARTEMIS. The agreement, signed on June 22, 2026, spans a firm period of 1,825 days (5 years) with an option to extend by another 1,825 days at the charterer's discretion. This deal enhances revenue visibility and strengthens the company's position in the offshore support services segment on the east coast of India.

Contract Overview

The key details of the announced charter deal are summarised below:

Strategic Impact

The deployment of MV ARTEMIS under this multi-year contract is expected to support stable vessel utilization and reinforce the company's operational capabilities. Captain P.B. Narayanan, Managing Director of ABS Marine Limited, stated that the award underscores the confidence placed in the company's operational capabilities by leading participants in the energy sector. The contract adds to the company's order book and reflects sustained demand for its chartering services within the offshore energy sector.

ABS Marine Services Limited reported a 196.45% increase in profit after tax to ₹80.80 crore for the fiscal year ended March 31, 2026, driven by robust growth in vessel charters and fleet expansion. Total income rose 75.05% to ₹322.64 crore, while EBITDA surged 179.17% to ₹152.55 crore, expanding the margin by 1,763 basis points to 47.28%. Earnings per share stood at ₹32.59, reflecting a growth of 184.88% compared to the previous year. The audited financial results were discussed in an earnings conference call on June 03, 2026, in compliance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Operational Highlights

The company strengthened its asset base during H2 FY26 with the induction of the offshore support vessel Artemis, formerly known as Hades, into its owned fleet. Additionally, an Offshore Support/Supply Vessel (MPSV), referred to as Serenity, was acquired and is currently undergoing dry docking and certification processes. These additions bolster the fleet, which now includes 12 owned ships and 38 vessels under management. Management highlighted that the top 10 clients contribute approximately 90% of the revenue, with a significant portion derived from government contracts and public sector undertakings.

Financial Performance

Consolidated total income for H2 FY26 stood at ₹183.11 crore, registering a growth of 78.93% year-on-year. EBITDA for the half-year surged by 164.64% to ₹94.23 crore, with a margin of 51.46%. Profit after tax for H2 FY26 increased by 158.22% to ₹49.46 crore. Total expenditure for the full year increased to ₹170.10 crore from ₹129.67 crore in FY25, primarily due to higher operational activity. Finance costs rose significantly to ₹30.86 crore in FY26 from ₹5.56 crore in the prior year. The cash flow from operations improved to ₹167.62 crore for the fiscal year.

Key Metrics and Ratios

The company’s net cash flow for FY26 was negative at ₹3.09 crore, influenced by heavy investing activities. The debt-to-equity ratio stood at 13.49, and the book value per share was ₹126.71. As of June 02, 2026, the company’s share price was ₹283.00, with a market capitalization of ₹694.76 crore.

Management Commentary

The earnings call featured Captain PB Narayanan, Chairman & Managing Director, Ms. Arathi Narayanan, Director, and Mr. V.V Anantha Narayanan, Chief Financial Officer. Management expressed optimism regarding opportunities in the offshore and maritime sectors, citing initiatives such as the Maritime India Vision 2030 and favorable demand-supply dynamics. For FY27, the company provided a conservative revenue growth guidance of 10%, assuming all vessels will be operational in the second half, and expects EBITDA margins to remain in the band of 45% to 50%.