sadhav shipping has placed a firm order for four 18-metre FRP composite pilot and security boats to strengthen its capabilities in the port services segment. The order was placed with A.H. Wadia Boat Builders and includes contractual options for two additional vessels, providing flexibility to scale operations in line with future requirements. This development follows the company's recently secured contract for pilot and security boat operations at a major Indian port.

The new vessels are designed specifically for pilotage and maritime security operations. Each boat will measure 18 metres in length and deliver speeds exceeding 20 knots. These specifications are intended to enable rapid response and superior manoeuvrability in demanding port environments. The construction will utilize advanced Fibre Reinforced Plastic (FRP) composite materials, which offer an enhanced strength-to-weight ratio compared to conventional steel or aluminium alternatives.

Technical Specifications and Benefits

The use of FRP composite materials is expected to provide several operational advantages. The company anticipates lower maintenance requirements, improved fuel efficiency, and a longer operational lifespan for the new fleet. These factors contribute to the overall goal of fleet modernization and operational efficiency.

Strategic Expansion

Vedant K. Choudhury, CEO of Sadhav Shipping Limited, stated that the order marks an important milestone in the company's expansion into the port services segment. He emphasized that the deployment of modern, high-speed composite vessels would strengthen the company's ability to deliver advanced pilotage and security services. The CEO noted that the option for additional vessels allows the company to capitalize on new opportunities and strengthen its market position as demand evolves.

Sadhav Shipping Limited is an integrated maritime services company incorporated in 1996 and headquartered in Mumbai. Listed on NSE Emerge, the company provides offshore logistics, port services, oil spill response, and specialised marine solutions.

Sadhav Shipping Limited has released the transcript of its earnings conference call held on 21st May, 2026, discussing the audited standalone and consolidated financial results for the half year and year ended 31st March, 2026. The company reported a net profit of ₹14.72 crore for FY26, a 25% increase from ₹11.75 crore in the previous year, while revenue from operations stood at ₹97.55 crore. Management attributed the margin pressure to delays in vessel mobilization and higher operational expenditure but expressed confidence in achieving a 30% EBITDA margin in FY27.

Financial Performance Overview

The financial metrics for the year ended 31st March, 2026, reflect growth in profitability despite operational challenges. For the fourth quarter (Q4 FY26), the company reported a revenue of ₹34.34 crore and a net profit of ₹3.15 crore. The consolidated results incorporate Sadhav Shipping Limited and its associate company, United Sadhav Integrated Maritime Private Limited.

Operational Highlights and Guidance

During FY26, Sadhav Shipping commenced operations at Chennai Port and launched the vessel 'Sadhav Shivani' for long-term mooring operations at Paradip Port. The company secured multiple contracts, including a ₹7.35 Cr contract for Chennai Port mooring services and a ₹4.67 Cr repeat order from Paradip Port Authority. The statutory auditors, M/s Suvarna & Katdare, issued an unmodified opinion on the financial statements.

Management provided guidance for FY27, targeting a revenue increase of 15% to 20% over the current levels, aiming for approximately ₹115 crore to ₹120 crore. The company expects to maintain a 30% EBITDA margin by improving operational efficiencies and implementing future-ready ERP systems. The order book as of 31st March, 2026, stands at ₹400 crore, with contracts ranging from three to seven years, extending up to FY30.

Strategic Developments and Asset Management

The company sold two vessels, Aditri and Bali, during the year, resulting in a net loss of ₹34 crore on the Aditri sale, which was adjusted against equity. Proceeds from preferential allotment were used to repay high-cost loans amounting to approximately ₹5 crore to ₹6 crore, reducing the average interest rate to 9% to 9.5%. Management stated that current asset prices are high and indicated a strategy to delay vessel purchases unless backed by confirmed contracts.

Sadhav Shipping is exploring opportunities in the shipbuilding and ship repair segment through a joint venture with United Petro Group (UPG). The company has identified land in Odisha for the project but is facing delays in allocation. The joint venture, United Sadhav Integrated Maritime Private Limited, sees Sadhav holding a 26% stake. The total investment for the project is estimated at ₹5,000 crores in a phase-wise manner.