Shipping service provider has commenced a contract agreement with Alphard Logistics Pvt Ltd worth Rs 20.60 crore

The stock is down by 73 per cent from its 52-week high of Rs 425 per share and up by 26 per cent from its 52-week low of Rs 92.10 per share.

On Wednesday, shares of ABS Marine Services Ltd gained 1.22 per cent to Rs 116.10 per share from its previous closing of Rs 114.70 per share. The stock is down by 73 per cent from its 52-week high of Rs 425 per share and up by 26 per cent from its 52-week low of Rs 92.10 per share.

ABS Marine Services Limited has entered into a contract agreement with Alphard Logistics Pvt Ltd, with Oil & Natural Gas Corporation as the end client, for the charter hire of an Offshore Supply Vessel. The contract, valued at approximately Rs 20.60 crore (inclusive of GST), involves the chartering of a DP-2 Platform Supply Vessel, commencing on May 3, 2025, for a duration of 158 days.

ABS Marine Ltd, a company established in 1992, specialises in providing comprehensive shipping services. Their core offerings encompass manning and technical services, as well as chartering and hiring services. A significant portion of their manning and technical services is secured through competitive tendering processes. As of FY24, the company boasts a fleet of 5 owned ships, 1 long-term chartered-in vessel, and actively manages 36 ships, demonstrating its substantial presence in the shipping industry.

The company has a market cap of Rs 280 crore with a PE of 12x, an ROE of 23 per cent and an ROCE of 20 per cent.

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