Shipping service provider signs charter party agreement worth Rs 178 crore with Schlumberger Asia Services Ltd
The stock is down by 54 per cent from its 52-week high of Rs 425 per share and has given multibagger returns of 114 per cent from its 52-week low of Rs 92.10 per share.
On Thursday, shares of ABS Marine Services Ltd gained 2 per cent upper circuit to Rs 197.10 per share from its previous closing of Rs 193.25 per share. The stock is down by 54 per cent from its 52-week high of Rs 425 per share and has given multibagger returns of 114 per cent from its 52-week low of Rs 92.10 per share.
ABS Marine Services Limited has announced the signing of a Charter Party Agreement with M/s. SCHLUMBERGER ASIA SERVICES LIMITED, Hong Kong. This significant international contract, valued at approximately USD 20.67 Million or Rs 178 Crores inclusive of GST for the initial three years, is for the charter hire of an Offshore Well Stimulation Vessel. The agreement commenced on June 24, 2025, and has a firm tenure of three years, with an option for the charterer to extend it by another three years. This chartering of vessel agreement is with an international entity, and there is no promoter, promoter group, or group company interest in the awarding entity.
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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 484 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.