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Indian market · Previous close · 19 Oct, 3:30 pm IST

ABS Marine Services Ltd. (ABSMARINE)

SME Cap

Services stocks · SME cap · NSE

ABS Marine Services Ltd., established in 1992, provides marine and offshore services across Ship Management, Vessel Ownership, Marine Services, and Port Services. Headquartered in Chennai with a presence in Mumbai, Kochi, Kakinada, and Singapore, it serves government, oil & gas, port authorities, and private shipping firms.

₹281.45
-20.45 · -6.77%
Market cap ₹741 Cr
Data qualityFresh enough for analysisQuote updated 19 Oct, 05:56 pm IST
Details
Quote19 Oct, 05:56 pm IST
Base fundamentals16 Oct 2026 · screener
Latest result22 May, 06:45 pm IST
Score21 Oct, 04:30 am IST · v4.3-runtime-valuation
Tags04 Oct 2026
Coverage13/14 · 93%
Valuation2026-07-20 · Rf 6.8% · Services P/E 17.7 (n=143)
Technical timing lens

Trend score and candlestick chart

59Neutral

SMA20 +5.1% / mo · MACD −

Stock trend: 59
Sector RS: —
Services FPI tailwindFlow only

FPI equity flow was positive in both fortnights, but exact sector-index confirmation is unavailable. View sector evidence

Compare peers →

Technical chart

ABSMARINED candles · FIT view+22.8%
Latest close ₹281.45 on 2026-10-19
Bar
-8.6%
RSI
39
MACD hist
-5.48
52W pos
64%
Visible chart range
Candle interval
2026-10-19O ₹307.80H ₹307.80L ₹270.00C ₹281.45Vol 49,000 sh
₹179.52₹226.79₹274.06₹321.32₹368.5952H₹281.45VolRSIMACD2026-042026-062026-082026-092026-11
Up bar
Down bar
EMA 20
EMA 50
Volume + 20D avg
Result date
RSI(14)
MACD / signal
Market context

Relative performance and chart statistics

Adjusted completed-session prices, rebased to 100

ABSMARINENifty 500
-13%+11%+34%+58%20 Jul1 Sept19 Oct19 Oct 2026ABSMARINE +23.9%Nifty 500 -5.6%
ABSMARINE
+23.9%
Nifty 500
-5.6%
Vs Nifty 500
+29.5 pp
Chart stats
19 Oct 2026
From 52W high
-21.8%
₹360
52W range position
64%
₹143.1 - ₹360
ATR (14)
6.9%
₹19.6
Volume vs 20D
0.85x
Latest completed session
Avg traded value
₹1.8 Cr
20-session average
20D price channel
₹270 - ₹360
55.5% annualized volatility

No exact NSE sector index is mapped for this company. Nifty 500 remains the broad-market comparison.

Research snapshot

What the evidence says now

Strong fundamentals, management evidence is still limited to a financial-only Trust Lite signal, price trend is neutral, and recent execution is weak.

Good U-Score but weak results consistency: verify latest quarters.

Suggested next step
Check latest quarters
Result consistency is weak; verify whether the thesis is improving or deteriorating.
U-Score
Legacy · DEEP VALUE
78

Fundamental lens: valuation, quality, growth, balance sheet, and cash flow.

Latest result
Pending data
—

Revenue NDF · PAT NDF YoY

Technical
Neutral
59

Price trend and sector-relative-strength timing.

Valuation
Legacy model
+67.5%

Legacy margin-of-safety estimate; the revised evidence label remains in shadow validation.

Trust
Limited evidence
71

Financial-only signal; management claim evidence is not sufficient yet.

Financials

Fundamentals, quarterly history, margins, returns and balance-sheet evidence

Latest result

Quarter ended 31 Mar 2026

Pending data

YoY comparison unavailable - result verdict pending data

Filed 31 Mar 2026
Open results browser →
MetricThis quarterYoYQoQ
Revenue₹183 CrNDF+34.6%
EBITDA₹94 CrNDF+70.9%
Operating margin51.0%NDF+1100 bps
PAT₹49 CrNDF+58.1%
PAT margin26.8%NDF+399 bps

NDF means not disclosed in the current structured filing feed. It is intentionally not treated as zero.

Fundamentals

Valuation

P/E
9.43
P/B
2.38
EV/EBITDA
6.08
Market Cap
741.00Cr

Profitability

ROE
29.00%
ROCE
20.70%
ROA
10.92%
Dividend Y
—

Growth (CAGR)

Revenue 5Y
29.00%
EPS 5Y
123.00%
Revenue 3Y
42.00%
EPS 3Y
108.00%

Balance Sheet

Debt/Equity
1.21
Interest Coverage
4.81×
Altman Z
2.82
Book Value
127.00

Cash Flow

FCF Yield
—
FCF Positive Y
4/5
OCF
168.00 Cr
EPS TTM
32.59

Shareholding

Promoter Hold
63.96%
Promoter Pledge
0.00%
Momentum 52W
73%

Financial History

Updated 20/10/2026

Revenue

₹ Cr
Latest: 319+77.2% vs prev
0319.0Mar 2020: 91.0Mar 2021: 89.0Mar 2022: 72.0Mar 2023: 111Mar 2024: 135Mar 2025: 180Mar 2026: 319FY20FY21FY22FY23FY24FY25FY26

Net Profit

₹ Cr
Latest: 81.0+200.0% vs prev
-3.0081.0Mar 2020: -3.0Mar 2021: 2.0Mar 2022: 8.0Mar 2023: 10.0Mar 2024: 25.0Mar 2025: 27.0Mar 2026: 81.0FY20FY21FY22FY23FY24FY25FY26

Return on Equity

%
Latest: 26.0+122.1% vs prev
-4.0026.0Mar 2020: -4.0%Mar 2021: 2.6%Mar 2022: 9.5%Mar 2023: 10.6%Mar 2024: 21.4%Mar 2025: 11.7%Mar 2026: 26.0%FY20FY21FY22FY23FY24FY25FY26

Technicals

Trend interpretation, Stage 2, relative strength, volume and indicator evidence

Daily technical trend read

Mixed signals

Signals are conflicting — long-term uptrend intact. RSI 39. Wait for confirmation.

  • Price above SMA200 (long-term uptrend) but mid-term MAs not aligned.
  • SMA20 rising (~4.8% over last month) — short-term momentum positive.
  • RSI(14) at 39 — falling, no extreme reading.
  • MACD below signal, histogram expanding negatively — bearish momentum building.
  • 22% off 52W high · 97% above 52W low.

Mechanical read from the price + indicator series above. Not a recommendation — technical setups can reverse without warning, especially around earnings and macro events.

Nifty 500 leadership

Relative Strength & Trend Stage

85
RS percentile
Stage 2 UptrendEstablished S2
1M return
-1.7%
3M return
+23.9%
6M return
+30.5%
1Y return
+31.9%
RS 1D
-3
RS 20D
-4
Sector rank
#12
Industry rank
#40
Stage evidence
  • Price is 14.1% above the 30-week proxy.
  • The 50-DMA is above the 30-week proxy and its slope is rising +8.6%.
  • Both 3-month and 6-month returns are positive.
50-DMA
price below
200-DMA
price above
S2 entered
15 May 2026
S2 age
110 trading sessions
Sector
neutral
Industry
improving
Relative-strength line vs Nifty 500 (base 100)
262 observations
19 Oct 2026Value 156.52-5.81%
79109138168198Sept 25Feb 26Jun 26Oct 26157
RS vs Nifty 500157

Valuation & peers

U-Score 78 · legacy U-Score band DEEP VALUE · valuation evidence and comparable companies

78U-SCORE
Top Setup

Fundamental score breakdown

U band · DEEP VALUE
Valuation24/30
Growth21/25
Quality18/20
Balance Sheet6/15
Cash Flow4/10
Piotroski
7/9 (+5)
Penalties
0
Raw sum
78

Why this score?

Top U-Score contributors and drags from the latest stored fundamentals.

78/100 · legacy band DEEP VALUE

Positive drivers

  • Piotroski is strong at 7/9.
  • Fair-value margin of safety is positive at 67.5%.
  • Quality contributes 18/20 to the score.

Main drags

  • Balance sheet is weaker at 6/15; verify the latest quarterly trend.
  • Cash flow is weaker at 4/10; verify the latest quarterly trend.
  • Valuation is weaker at 24/30; verify the latest quarterly trend.
Sector valuation model

Cyclical valuation: normalized earnings, not just trailing PE

Cyclical companies can look cheapest near peak profits, so IndiaPulse flags value-trap risk separately.

Cyclical normalized
Primary lens
Mid-cycle PE/EV/EBITDA using multi-year average margins or earnings.
Secondary checks
Current margin versus 5-year average, balance sheet strength, commodity cycle.
Main risk check
A low trailing PE may mean peak-cycle earnings, not true cheapness.
PE
9.4
PB
2.4
EV/EBITDA
6.1
ROE
29.0%
ROCE
20.7%
FCF Yield
—
Debt/Equity
1.2
MoS
+67.5%
Cyclical/value-trap warning
This sector can look cheap when profits are temporarily high. Check mid-cycle margins/earnings before relying on trailing PE. Current PE is low at 9.4, so peak-cycle earnings risk should be checked. Debt/equity is 1.2, so downturn resilience matters.
Score movement

Stored run vs live recompute

This shows the stored score trend when snapshots exist, and also compares the latest stored nightly score with a live recompute from current fundamentals and price.

Stored run: 21 Oct 2026
v4.3-runtime-valuation
Final score
78
Previous: 78
Legacy U-Score band
DEEP VALUE
Previous: DEEP VALUE
Margin of safety
+67.5%
Previous: +67.5%

Score history

12 stored score snapshots. Latest stored move: +0 points.

21 Oct 2026
v4.3-runtime-valuation
74
74
74
74
74
75
75
75
75
75
78
78

Factor attribution

No pillar movement versus the latest stored run. Historical score trend will appear after snapshot storage is enabled.

Modelled fair value

Graham Number
₹305.17
+7.8% MoS
Growth-justified P/E
26.6
Growth-justified Value
₹865.26
+67.5% MoS
PEG
0.08

Comparable companies

Peers

Business-comparable peers in Services — ranked by industry, sub-sector, theme-tag overlap, market cap, and U-Score similarity. Green cells mark the best available peer metric in this table.

Compare all ↗
Ticker
Name
Why peer
Score
PE
ROE
MoS
Verdict
BLUEWATER
SME
Blue Water Logistics Ltd.
Logistics
match 59
63
16.6
49.8%
+35%
UNDERVALUED
SJLOGISTIC
SME
S J Logistics (India) Ltd.
Logistics
match 59
80
6.6
29.1%
+76%
DEEP VALUE
SADHAV
SME
Sadhav Shipping Ltd.
Logistics
match 56
53
12.7
14.7%
+58%
FAIR VALUE
COMMITTED
SME
Committed Cargo Care Ltd.
Logistics
match 56
42
43.4
13.7%
+1%
WATCHLIST
IWARE
SME
Iware Supplychain Services Ltd.
Logistics
match 55
49
28.6
40.0%
+1%
FAIR VALUE

Business, management & trust

Growth engines, risks, management commitments and evidence-backed delivery

Business and thesis

Where growth can come from, and what can break the case

Thesis intactReviewed 2026-06-18T02:23:45.513Z
Management commentary snapshot

FY26 consolidated total income surged to 322.64 Cr (up 75% YoY), driven by owned fleet expansion. EBITDA grew 179% YoY to 152.55 Cr, with Net Profit up 196% YoY to 80.80 Cr. H2 FY26 also showed strong growth, with total income at 183.11 Cr and Net Profit at 49.46 Cr.

The company demonstrated robust financial performance in FY26, significantly improving revenue and profitability, primarily driven by strategic expansion of its owned fleet. Key operating metrics like vessels under management and owned ships show growth. The focus on long-term government and PSU contracts provides revenue visibility, supporting the investment thesis.

Current business mix

Revenue by Contract Type (Standalone FY26)

Latest issuer-disclosed distribution across 3 reported categories.

Businessmix
Government19.9%
Public Sector Undertakings30.0%
Others50.2%
Growth engines

Contract Pipeline & Revenue Visibility

Positive

Two recently acquired vessels on short-term deployment are expected to transition into long-term charter contracts. Company is actively bidding for new tenders from oil majors.

Margin Expansion

Positive

Improved earnings driven by expansion of owned fleet, minimizing reliance on third-party leased vessels, strengthening long-term growth opportunities and operational scalability.

Fleet & Capital Strategy

Positive

Expanding owned vessel portfolio to reduce reliance on third-party assets for long-term growth. Maintains 70:30 debt-equity model for vessel financing.

Integrated Service Model

Positive

End-to-end marine solutions across vessel ownership, operations & support, providing diverse revenue streams from chartering, ship repairs, crew management & logistics.

Capacity and execution

DP2 OSV Contracts (2024)

Positive

Contracted 2 new DP2 OSVs in 2024.

OCEAN DIAMOND & EMERALD Delivery (2025)

Positive

Took delivery of OCEAN DIAMOND & EMERALD (DP2 OSVs) in 2025.

Additional DP2 OSV Contracts (2025)

Positive

Contracted 2 more DP2 OSVs for FY26 in 2025.

OSV HADES Induction (2026)

Positive

Inducted OSV HADES in 2026, strengthening owned offshore fleet and execution capabilities.

Tailwinds

Strategic Trade Enabler

Positive

~95% of India’s trade by volume and 70% by value is transported via sea, indicating sustained demand for maritime services.

Government-Backed Infrastructure Expansion

Positive

6 new mega ports planned under Sagarmala, 100% FDI allowed for port/harbour construction, and 10-year tax holiday for port enterprises.

Vision 2047: Maritime Transformation Roadmap

Positive

Plan to add 1,000 ships over 10 years via joint public-private ownership and aim to reduce foreign freight outgo by one-third by 2047.

Industry Supply Constraints

Positive

Aged global fleet and limited new builds favor charter rate growth, benefiting the company's asset-backed model.

Risk radar

Increased Finance Costs

Negative

Finance Costs increased significantly to 30.86 Cr in FY26 from 5.56 Cr in FY25, indicating a higher interest burden.

Rising Non-Current Borrowings

Negative

Non Current Borrowings increased to 331.11 Cr in FY26 from 138.70 Cr in FY25, reflecting increased debt for fleet expansion.

Management accountability

What management said, and what results must prove

Issuer guidance and extracted claims are tracked against later reported outcomes. Treat these as management statements, not IndiaPulse forecasts.

Analyst reading lens
Compare YOY

The investor presentation provides H2 FY25 vs H2 FY26 and FY25 vs FY26 data, making year-over-year comparisons most relevant to assess the impact of asset additions and long-term contracts on annual performance.

Sector KPIs management disclosed

Vessels Under Management

Positive

38 Vessels Under Management (FY26)

Owned Ships

Positive

12 Owned Ships (FY26)

Team Size

Neutral

80 shore staff, 500 floating staff onboard, 2,000 floating staff in pool (FY26)

Strategic Government Contracts

Positive

10 Strategic Contract with Government Authorities (FY26)

Management forward view

Strong Financial Performance

Positive

Management states strong financial performance reflects continued momentum and benefits of strategic focus on expanding the owned fleet.

Commitment to Asset Base

Positive

Committed to building a robust asset base that drives operational efficiency, enhances service delivery, and supports sustainable long-term growth.

Offshore Demand Capitalization

Positive

Well-positioned to capitalize on increasing demand in the offshore segment.

Active Bidding for New Tenders

Positive

Actively bidding for new tenders from oil majors to secure future contracts.

Thesis monitor

Numbers and claims to verify in the next filings

CheckpointCurrent evidenceWhat to verify next
Debt to Equity Ratio1.21 (FY26)Trends in debt levels relative to equity, especially with ongoing fleet expansion and financing strategy.
Interest Coverage Ratio3.80x (FY26)Ability to cover increased finance costs as debt grows, ensuring profitability is not unduly impacted.
Owned Vessel Portfolio Expansion12 owned ships (FY26)Timely delivery and commissioning of contracted DP2 OSVs and their transition to long-term charters.
New Tender WinsActively bidding for new tendersAnnouncements of new long-term contracts, particularly with oil majors, to ensure revenue visibility.

Verification checkpoints are IndiaPulse research interpretation, not investment advice.

Trust Score
71Limited evidence · low confidenceTrust Lite

Trust asks: does management behaviour match later outcomes? Higher is better, but confidence and evidence depth matter as much as the number.

Limited evidence: Claim history is still being built. It ranks around the 66th percentile of the scored universe and 75th percentile within Services. Main check: results consistency is weak at 45/100.

This is a financial-behaviour screen, not a claim-tested management reliability verdict.

Computed 05 Sept 2026
management-trust-v1
6 docs text-extracted · 2 concalls text-extracted
Score band
Limited evidence

Financial behaviour is scored, but management claims do not yet have enough outcome checks.

Relative rank
66th percentile

overall median 67 · Services: 75th pctile, median 66 · SME: 85th pctile, median 64

Evidence depth
Financial-only

6 documents have extracted text, but claim history is not strong enough yet.

Claim delivery
Outcome history still building

0 claims extracted · No contradicted claim yet

How to read this Trust Score

Limited evidence · low confidence
What it measures
Reliability of management and financial delivery, using financial behaviour only.
Confidence
Treat this as an early read until more concalls and outcomes are matched.
Investor use
Acceptable, but check the weakest sub-score before increasing exposure.

Read Trust alongside U-Score, result consistency, and technical trend. A cheap stock with weak Trust needs a larger margin of safety; a high Trust score does not make an expensive stock attractive by itself.

Forensic breakdown

Read low sub-scores as due-diligence warnings, not automatic sell signals.

Promoter
86
strong · holding, pledge, alignment
Cash flow
67
acceptable · profit to cash conversion
Balance sheet
53
watch · leverage and solvency
Discipline
98
strong · capital discipline
Results
45
watch · quarterly consistency

Trust positives

  • ▸Promoter holding is 64%.
  • ▸Promoter pledge is zero.
  • ▸4 years of positive FCF.
  • ▸ROCE is 21%.

Trust risks

  • ▸Debt/equity is 1.21.
  • ▸OPM spread across recent quarters is 30%.

Trust Lite uses financial behaviour only. Prefer claim-tested Trust when enough concall claims have later outcomes.

Continue researching ABS Marine Services Ltd.

Compare Services stocksBrowse Indian stocks starting with AExplore fundamental stock screenersBrowse Indian investment themes
Related companies
Blue Water Logistics Ltd. (BLUEWATER)S J Logistics (India) Ltd. (SJLOGISTIC)Sadhav Shipping Ltd. (SADHAV)Committed Cargo Care Ltd. (COMMITTED)Iware Supplychain Services Ltd. (IWARE)

Important announcements & filings

Latest exchange and company disclosures found within the past two years.

8 shown
Investor presentationJun 2026

Jun 2026 · PPT

Source: Nse

Open source ↗
Concall transcriptJun 2026

Jun 2026 · Transcript

Source: Nse

Open source ↗
Credit ratingJun 2026

Jun 2026 · Credit Rating 25 June 2026 - CRISIL upgraded ABS Marine to A-/Stable and A2+, rating bank facilities at Rs.505.5 crore.

Source: Nse

Open source ↗
Investor presentationDec 2025

Dec 2025 · PPT

Source: Nse

Open source ↗
Concall transcriptJun 2025

Jun 2025 · Transcript

Source: Nse

Open source ↗
Investor presentationJun 2025

Jun 2025 · PPT

Source: Nse

Open source ↗
Verify on:NSE India ↗
All information is for study purposes only. For investment decisions, consult your financial advisor. See Playbook for methodology.