Past 10 year’s financial track record analysis by Moneyworks4me indicates that ABS Marine Services Ltd is a below average quality company.
The key valuation ratios of ABS Marine Services Ltd's currently when compared to its past seem to suggest it is in the Fair zone.
The Price Trend analysis by MoneyWorks4Me indicates it is Weak which suggest that the price of ABS Marine Services Ltd is likely to Fall in the short term. However, please check the rating on Quality and Valuation before investing.
Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end.
| Mar'21 | Mar'22 | Mar'23 | Mar'24 | TTM | |
|---|---|---|---|---|---|
| ROCE % ⓘ | 4.5% | 11.1% | 10.6% | 19.1% | - |
| Value Creation Index ⓘ | -0.7 | -0.2 | -0.2 | 0.4 | - |
Growth Parameters ⓘGrowth Parameters Colour Code Guide ⓘ | |||||
| Sales ⓘ | 70.8 | 57.9 | 95.2 | 118 | 118 |
| Sales YoY Gr. | - | -18.3% | 64.6% | 24.1% | - |
| Adj EPS ⓘ | 0.9 | 0.6 | 4 | 11.4 | 8 |
| YoY Gr. | - | -32.6% | 565% | 185.2% | - |
| BVPS (₹) ⓘ | 49.1 | 53.5 | 57.9 | 68.8 | 89.7 |
| Adj Net Profit ⓘ | 1.6 | 1.1 | 7.2 | 20.5 | 20 |
| Cash Flow from Ops. ⓘ | 15.3 | 6.9 | -20 | 23.8 | - |
| Debt/CF from Ops. ⓘ | 2 | 1.8 | -0.6 | 0.8 | - |
CAGR Colour Code Guide ⓘ
| 9 Years | 5 Years | 3 Years | 1 Years | |||||
|---|---|---|---|---|---|---|---|---|
| Sales ⓘ | NA | NA | 18.6% | 24.1% | ||||
| Adj EPS ⓘ | NA | NA | 133.8% | 185.2% | ||||
| BVPSⓘ | NA | NA | 11.9% | 18.7% | ||||
| Share Price | - | - | - | - | ||||
Performance Ratio Colour Code Guide ⓘ
| Mar'21 | Mar'22 | Mar'23 | Mar'24 | TTM | |
|---|---|---|---|---|---|
| Return on Equity % ⓘ | 1.8 | 1.2 | 7.2 | 18 | 10.1 |
| Op. Profit Mgn % ⓘ | 14.1 | 15.9 | 16.1 | 26.1 | NAN |
| Net Profit Mgn % ⓘ | 2.3 | 1.9 | 7.5 | 17.3 | 16.5 |
| Debt to Equity ⓘ | 0.4 | 0.1 | 0.1 | 0.1 | - |
| Working Cap Days ⓘ | 0 | 182 | 189 | 205 | 0 |
| Cash Conv. Cycle ⓘ | 0 | 35 | 19 | 44 | 0 |
Return on Equity has increased versus last 3 years average to 10.00%
Sales growth is growing at healthy rate in last 3 years 18.61%
Net Profit is growing at healthy rate in last 3 years 133.84%
Sales growth is not so good in last 4 quarters at 0.00%
| Standalone | Consolidated | |
|---|---|---|
| TTM EPS (₹) | 8 | 9.6 |
| TTM Sales (₹ Cr.) | 118 | 135 |
| BVPS (₹.) ⓘ | 89.7 | 10 |
| Reserves (₹ Cr.) ⓘ | 196 | - |
| P/BV ⓘ | 2.28 | 20.45 |
| PE ⓘ | 25.70 | 21.31 |
| From the Market | |
|---|---|
| 52 Week Low / High (₹) | 0.00 / 0.00 |
| All Time Low / High (₹) | - / - |
| Market Cap (₹ Cr.) | 502 |
| Equity (₹ Cr.) | 24.6 |
| Face Value (₹) | 10 |
| Industry PE ⓘ | 8.3 |
| Pledged * | 0.00 |
| PARTICULARS | Mar'21 | Mar'22 | Mar'23 | Mar'24 |
|---|---|---|---|---|
| Sales | 71 | 58 | 95 | 118 |
| Operating Expenses ⓘ | 61 | 49 | 80 | 91 |
| Manufacturing Costs | 53 | 39 | 70 | 75 |
| Material Costs | 0 | 0 | 0 | 0 |
| Employee Cost | 3 | 4 | 5 | 6 |
| Other Costs ⓘ | 5 | 6 | 5 | 9 |
| Operating Profit ⓘ | 10 | 9 | 15 | 28 |
| Operating Profit Margin (%) | 14.1% | 15.5% | 16.0% | 23.3% |
| Other Income ⓘ | 3 | 11 | 2 | 2 |
| Interest ⓘ | 2 | 2 | 1 | 2 |
| Depreciation ⓘ | 8 | 7 | 5 | 5 |
| Exceptional Items ⓘ | 0 | 0 | 0 | 0 |
| Profit Before Tax ⓘ | 3 | 10 | 11 | 23 |
| Tax ⓘ | 1 | 2 | 3 | 3 |
| Profit After Tax | 3 | 8 | 8 | 20 |
| PAT Margin (%) | 3.5% | 13.4% | 8.4% | 16.5% |
| Adjusted EPS (₹) | 1.4 | 4.3 | 4.4 | 10.9 |
| Dividend Payout Ratio (%) | 0% | 0% | 0% | 0% |
| PARTICULARS | Mar'21 | Mar'22 | Mar'23 | Mar'24 | ||||||
|---|---|---|---|---|---|---|---|---|---|---|
Equity and Liabilities | ||||||||||
| Shareholders Fund | 88 | 96 | 104 | 124 | ||||||
| Share Capital ⓘ | 0 | 0 | 0 | 18 | ||||||
| Reserves ⓘ | 88 | 96 | 104 | 106 | ||||||
| Minority Interest | 0 | 0 | 0 | 0 | ||||||
| Debt | 21 | 8 | 10 | 17 | ||||||
| Long Term Debt | 20 | 6 | 8 | 5 | ||||||
| Short Term Debt | 1 | 2 | 2 | 12 | ||||||
| Trade Payables | 8 | 11 | 15 | 5 | ||||||
| Others Liabilities ⓘ | 18 | 14 | 14 | 8 | ||||||
| Total Liabilities ⓘ | 135 | 130 | 143 | 154 | ||||||
Fixed Assets | ||||||||||
| Gross Block | 97 | 78 | 80 | 19 | ||||||
| Accumulated Depreciation | 39 | 41 | 46 | 9 | ||||||
| Net Fixed Assetsⓘ | 58 | 37 | 34 | 10 | ||||||
| CWIP ⓘ | 0 | 0 | 0 | 0 | ||||||
| Investmentsⓘ | 37 | 55 | 29 | 76 | ||||||
| Inventories | 0 | 0 | 0 | 0 | ||||||
| Trade Receivables | 17 | 14 | 26 | 29 | ||||||
| Cash Equivalents | 13 | 6 | 12 | 3 | ||||||
| Others Assetsⓘ | 9 | 17 | 42 | 36 | ||||||
| Total Assets ⓘ | 135 | 130 | 143 | 154 | ||||||
| PARTICULARS | Mar'21 | Mar'22 | Mar'23 | Mar'24 |
|---|---|---|---|---|
| Cash Flow From Operating Activity ⓘ | 15 | 7 | -20 | 24 |
| PBT ⓘ | 3 | 10 | 11 | 23 |
| Adjustment ⓘ | 8 | 0 | 5 | 8 |
| Changes in Working Capital ⓘ | 5 | -3 | -37 | -2 |
| Tax Paid ⓘ | 0 | 0 | 2 | -5 |
| Cash Flow From Investing Activity ⓘ | -19 | 15 | 25 | -28 |
| Capex | -14 | 22 | -2 | 18 |
| Net Investments | -7 | -9 | 25 | -46 |
| Others ⓘ | 1 | 1 | 1 | 0 |
| Cash Flow From Financing Activityⓘ | -2 | -20 | 0 | -4 |
| Net Proceeds from Shares ⓘ | 0 | 0 | 0 | 0 |
| Net Proceeds from Borrowing ⓘ | 0 | -13 | 1 | -3 |
| Interest Paid ⓘ | -2 | -2 | -1 | -2 |
| Dividend Paid ⓘ | 0 | 0 | 0 | 0 |
| Others ⓘ | 1 | -5 | 0 | 0 |
| Net Cash Flow ⓘ | -6 | 1 | 5 | -9 |
| PARTICULARS | Mar'21 | Mar'22 | Mar'23 | Mar'24 | ||||||
|---|---|---|---|---|---|---|---|---|---|---|
| Ratios | ||||||||||
| ROE (%) | 2.83 | 8.41 | 7.98 | 17.12 | ||||||
| ROCE (%) | 4.53 | 11.1 | 10.62 | 19.12 | ||||||
| Asset Turnover Ratio | 0.52 | 0.44 | 0.7 | 0.8 | ||||||
| PAT to CFO Conversion(x) | 5 | 0.88 | -2.5 | 1.2 | Working Capital Days | |||||
| Receivable Days | 88 | 99 | 76 | 84 | ||||||
| Inventory Days | 0 | 0 | 0 | 0 | ||||||
| Payable Days | 0 | 0 | 0 | 0 | ||||||
The company was originally incorporated as ‘ABS Marine Services Private Limited’ a private limited company under the Companies Act, 1956, pursuant to a certificate of incorporation dated October 27, 1992, issued by the Registrar of Companies, Tamil Nadu (RoC). Subsequently, the name of the company was changed from ABS Marine Services Private Limited’ to ‘ABS Marine Services Limited’, upon conversion into public company, pursuant to a special resolution passed by the shareholders of the company on September 27, 2023 and a fresh certificate of incorporation consequent to conversion was issued by the RoC on October 23, 2023.
The company was started by its diligent promoter, Capt. P B Narayanan, a person with long experience of more than 4 decades in the Shipping Industry. The company started operations with two offshore vessel management and as of the date of December 31, 2023 it has 5 owned vessels comprising of 2 advanced offshore vessels serving the Oil & Gas sector & 3 Harbour Crafts serving the Indian Ports sector. It has one long term chartered specialised multipurpose offshore vessel serving the Oil & Gas Sector. In addition, as of December 31, 2023 it is carrying out total ship management of 12 vessels on behalf of Government, public sector undertakings, private companies and port authorities. It providing crew management services to a further 24 ships comprising Oil Tankers, Gas Tankers, Bulk Carriers, Passenger Vessels and High Speed Crafts.
The company’s existing business is divided into four divisions: 1) Ship Owning 2) Ship Management 3) Marine Services and 4) Port Services. The company’s fully owned, chartered-in, totally managed & crewed fleet includes state of the art DP-2 Multipurpose offshore Supply Vessels, Anchor Handling Towing Supply Vessel, multi-disciplinary Ocean Research Vessels, Coastal Research Vessels, Fishery Oceanographic Research Vessel, Bulk Carriers, Gas Tankers, Oil Tankers, Passenger Vessels, High Speed Crafts & Harbour Crafts. It is a fully integrated company with in-house complete vessel management including commercial management. The company’s customers are primarily comprised of Government of India, large industrial concerns, public sector undertakings, port authorities and private sector. It has also entered into 10 strategic contracts with government agencies which contributes towards its Revenue from Operations.
Business area of the company
ABS Marine Services is engaged in providing offshore vessel management, crew management and other seafarer/port related services.
Major events and milestones
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