Shipping service provider signs charter party agreement of Rs 26.70 crore with Larsen & Toubro Ltd, India

ABS Marine Services Limited has formally announced a significant business development, adhering to Regulation 30 read with Clause 4.2 of Para B of Part A of Schedule III of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The company has executed a Charter Party Agreement with M/S. Larsen & Toubro Limited for the charter hire of a DP-2 Platform Supply Vessel. This domestic contract, which involves the chartering of the vessel, is slated to commence in the first week of October 2025, contingent upon the vessel being all fast alongside Mumbai Port. The agreement is for a firm period of 120 days, with an option for the charterer (Larsen & Toubro Limited) to extend the contract by an additional 56 days. The total consideration or contract value is approximately Rs 26.70 crore, inclusive of GST and any potential extensions.

ABS Marine Services Limited, established in 1992 and headquartered in Chennai, is one of the leading maritime companies specialising in Ship Management, Vessel Ownership, Marine, and Port Services. With offices in Mumbai, Kochi, Singapore, and Kakinada, ABS provides comprehensive maritime solutions worldwide, emphasising professionalism, local expertise, and regulatory compliance for efficient operations. With over three decades of experience in third-party technical and crew management, the company focuses strongly on safety and energy conservation both onboard and ashore, driving excellence in the maritime industry.

According to half-yearly results, the net sales increased by 25 per cent to Rs 102.34 crore and the net profit increased by 137 per cent to Rs 18.72 crore in H2FY25 compared to H2FY24. For FY25, the company has reported consolidated total income of Rs 184.31 crore, EBITDA of Rs 54.64 crore and net profit of Rs 27.25 crore on a consolidated basis. The company has a market cap of Rs 435 crore with a PE of 12x, an ROE of 23 per cent and an ROCE of 20 per cent. The stock is down by 35 per cent from its 52-week high of Rs 275 per share and up by 96 per cent from its 52-week low of Rs 92.10 per share.

Disclaimer: The article is for informational purposes only and not investment advice.