SEAMEC Ltd Q2 FY27 Results (NSE: SEAMECLTD)
Signal: Loss reversed
The read
The operating recovery remains volatile: consolidated revenue reached ₹19,813 lakh, +103.6% YoY, but operating margin fell to 19.3% from 41.7% QoQ; the ₹5,048 lakh PAT is not recurring because ₹4,243 lakh came from the Seamec Gallant sale, and the overseas segment supplied ₹5,117 lakh of segment result while Domestic lost ₹1,284 lakh.
| Metric | Value | YoY | QoQ |
|---|---|---|---|
| Revenue | ₹198.13 Cr | +103.6% | -33.3% |
| Net profit | ₹50.48 Cr | N/M | |
| EPS | ₹19.79 | N/M | |
| EBIT margin | 19.3% |
P&L walk
Revenue rose to ₹19,813 lakh, +103.6% YoY but -33.3% QoQ; operating margin was 19.3%, down from 41.7% QoQ, while PAT of ₹5,048 lakh was lifted by the ₹4,243 lakh Seamec Gallant sale gain.
Segments
Overseas was the consolidated earnings driver, turning from a ₹1,183 lakh loss to a ₹5,117 lakh profit YoY, while Domestic remained loss-making at ₹(1,284) lakh despite revenue of ₹13,819 lakh.
Key positives
- Consolidated revenue rose to ₹19,813 lakh, +103.6% YoY, with Overseas revenue up 105.0% YoY to ₹5,994 lakh.
- Overseas segment result turned around from a ₹1,183 lakh loss to a ₹5,117 lakh profit YoY.
- Finance costs fell 27.0% YoY to ₹362 lakh, while standalone H1 operating cash flow was ₹28,175 lakh versus ₹24,168 lakh a year earlier.
Key concerns
- Operating margin fell to 19.3% from 41.7% QoQ despite 103.6% YoY revenue growth, showing a sharp sequential margin reset.
- Domestic segment remained loss-making at ₹(1,284) lakh on ₹13,819 lakh revenue, versus a ₹1,704 lakh loss YoY and ₹4,316 lakh profit QoQ.
- Reported consolidated PAT of ₹5,048 lakh includes a ₹4,243 lakh exceptional gain from the Seamec Gallant vessel sale; standalone PAT was only ₹416 lakh.
Research and educational content only. Not investment advice.