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.

Sadhav Shipping Limited has secured a Letter of Acceptance (LOA) from Jawaharlal Nehru Port Authority (JNPA) for the deployment of two newly built FRP Pilot Cum Security Boats. The LOA was received on May 12, 2026, and countersigned by the company on May 13, 2026. The development was disclosed to the National Stock Exchange of India Limited pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations 2015.

Contract Details

The contract involves providing two FRP Pilot Cum Security Boats to support marine and port operations at JNPA on a daily charter arrangement. The key parameters of the contract are summarised below:

Under the terms of the agreement, Sadhav Shipping will deploy the newly built boats to facilitate marine safety, security, and pilotage operations within the port limits of JNPA.

Strategic Significance

Jawaharlal Nehru Port Authority is described as India's premier container handling port and a key gateway for the country's international trade. The contract entrusts Sadhav Shipping with safety-critical roles including pilotage and security launch operations at the port. The engagement is expected to add to the company's long-term revenue visibility and reinforce its presence at strategically important maritime hubs in India.

Management Commentary

Commenting on the development, Mr. Vedant K. Choudhury, CEO, Sadhav Shipping Limited, stated:

"Securing this mandate from JNPA is a proud moment for every member of the Sadhav team. JNPA is not merely a port — it is the gateway through which India trades with the world. Being entrusted with the safety-critical role of pilotage and security launch operations at this port reflects the confidence that India's port authorities place in our people, our vessels, and our standards. This contract extends our annuity revenue base, deepens our footprint at strategically vital maritime hubs, and strengthens our conviction that Sadhav is building something enduring in Indian maritime services."

About Sadhav Shipping Limited

Sadhav Shipping Limited is an integrated maritime services company incorporated in 1996 and headquartered in Mumbai. The company provides offshore logistics, port services, oil spill response, and specialised marine solutions. With a fleet of owned and chartered vessels and a Pan-India coastal presence, Sadhav Shipping serves key maritime, energy, and infrastructure sectors.