Seamec Limited, a prominent player in the marine and oil field services sector, has reported a decline in revenue and a net loss for the second quarter of the fiscal year 2025-26. The company's financial results, released for the quarter and half year ended September 30, 2025, reveal a challenging period for the firm.

Financial Performance

Quarterly Results

SEAMEC reported standalone revenue of ₹91.40 crore in Q2FY26, marking a 10% year-on-year decrease from ₹101.70 crore in Q2FY25. The company's EBITDA saw a significant drop to ₹9.20 crore from ₹36.60 crore in the previous year, with the EBITDA margin falling to 10.00% from 35.90%.

The company posted a standalone loss after tax of ₹25.80 crore for Q2FY26, a stark contrast to the profit of ₹3.00 crore recorded in the same period last year.

Half-Year Performance

For the first six months of FY26, SEAMEC's results showed some positive signs:

• Revenue grew by 2% to ₹314.30 crore
• Profit after tax (PAT) increased by 1% year-on-year to ₹54.50 crore

Operational Challenges

The company attributed the revenue decline to two main factors:

1. Dry docking of SEAMEC III
2. Lower deployment due to monsoon conditions

SEAMEC currently operates a fleet consisting of:

• 6 diving support vessels
• 1 offshore support vessel
• 1 accommodation barge

Strategic Developments

Despite the challenging quarter, SEAMEC has been active in pursuing strategic agreements:

1. The company entered into a Memorandum of Understanding (MOU) with the Directorate General of Shipping, committing to a capital expenditure of ₹1,000.00 crore.
2. SEAMEC has signed various charter hire agreements for its vessels.
3. The company took delivery of a new vessel, SEAMEC Agastya, in Singapore. This vessel is currently undergoing dry dock in Colombo.

Outlook

While SEAMEC faces short-term challenges as evidenced by the Q2 results, the company's half-year performance and strategic initiatives suggest efforts to strengthen its position in the market. The substantial capex commitment and fleet expansion indicate SEAMEC's focus on long-term growth.

Investors and stakeholders will likely be watching closely to see how SEAMEC navigates through these operational challenges and capitalizes on its strategic investments in the coming quarters. The company's ability to manage costs, optimize fleet deployment, and leverage its new assets will be crucial in addressing the current loss situation.

Seamec Limited, a prominent player in the offshore services sector, has reached an amicable settlement with Jumbo Offshore Limited, resolving an ongoing arbitration dispute. The agreement, signed on November 6, 2025, marks a significant development in the companies' relationship and their approach to a pending legal matter.

Key Points of the Agreement

• Dispute Resolution: Seamec and Jumbo Offshore have signed consent terms, effectively putting their arbitration proceedings on hold.
• Vessel Defense: Seamec has agreed to contest the arrest of Jumbo's vessel, 'Tug Maria', in the Gujarat High Court on behalf of Jumbo Offshore.
• Legal Representation: Seamec will act through a Power of Attorney granted by Jumbo to fight the case.

Impact on Seamec

According to the company's disclosure, the settlement is not expected to have any material impact on Seamec's financial position. This resolution potentially allows both companies to avoid prolonged legal proceedings and associated costs.

Transparency and Compliance

Seamec has promptly disclosed this development to the stock exchanges, in compliance with Regulation 30 of the SEBI Listing Obligations and Disclosure Requirements. This transparency ensures that investors and stakeholders are kept informed of significant corporate actions.

Looking Ahead

While the arbitration proceedings are now in abeyance, the focus shifts to the legal battle in the Gujarat High Court regarding the arrest of 'Tug Maria'. The outcome of this case could have implications for both Seamec and Jumbo Offshore, particularly in terms of operational capabilities and asset utilization.

Investor Communication

In related news, Seamec has also announced upcoming investor interactions:

1. Participation in the Anand Rathi Annual Flagship Conference G200 Summit on November 12, 2025.
2. A Q2 FY 2025-26 earnings call scheduled for November 11, 2025, to be hosted by Arihant Capital Markets Ltd.

These events underscore Seamec's commitment to maintaining open lines of communication with its investors and analysts, providing opportunities for stakeholders to gain insights into the company's performance and strategy.

The resolution of the arbitration dispute with Jumbo Offshore, coupled with proactive investor engagement, demonstrates Seamec's focus on resolving challenges and maintaining transparency in its operations.