About the Company:
ABS Marine Services Ltd is a fully integrated company with in-house complete vessel management including commercial management.
Company’s customers are primarily comprised of Government of India, large industrial concerns, public sector undertakings, port authorities and private sector.
Company has also entered into 10 (ten) strategic contracts with Governemnt agencies which contributes towards our Revenue from Operations. Out of the ten contracts, one major contarct with the Ministry of Earth and Science (MOES) contributes towards our 23.50% of the Revenue from operations.
Company’s income is principally generated from company’s Ship Owning, Ship Chartering & Ship Management activitities which contributed more than 90% of our total income.
Company’s operations are supported by offices in the two metros of India, namely Mumbai and Chennai, a branch office in Cochin and a Satellite Office in Kakinada.
Company’s History:
Company was started by diligent promoter, Capt. P B Narayanan, a person with long experience of more than 4 decades in the Shipping Industry.
Company started operations with two offshore vessel management and as of the date of December 31, 2023 have 5 owned vessels comprising of 2 advanced offshore vessels servcing the Oil & Gas sector & 3 Harbour Crafts serving the Indian Ports sector.
Company has one long term chartered specialised multipurpose offshore vessel serving the Oil & Gas Sector. In addition, as of December 31, 2023 company is carrying out total ship management of 12 vessels on behalf of Government, public sector undertakings, private companies and port authorities.
Currently company is providing crew management services to a further 24 ships comprising Oil Tankers, Gas Tankers, Bulk Carriers, Passenger Vessels and High Speed Crafts.
Company’s Business Divisions:
- Ship Owning.
- Ship Management.
- Marine Services.
- Port Services.
Ship Owning Business:
Ship owning has been a long tradition for the Company and still remains the core business. Company presently owns 5 vessels comprising of:
- DP-2 Multipurpose Offshore Supply Vessel
- Anchor Handling Towing Supply Vessel
- Harbour Crafts
Ship Management Business:
Company has over 30 years experience in managing vessels in the shipping and energy sectors, and are committed to delivering safe and compliant operations through transparency, pro-activeness, and strong partnerships.
Company offers a full range of ship management and marine support services to ship owners and operators.
Company provides a number of management services for vessels. These services include vessel operations management, crew management and recruitment, technical management, catering & housekeeping services, agency coordination and operation & maintainence of scientific equipments for Research Vessels.
Company provides management services for over 30 vessels, including Offshore Vessels serving the Oil & Gas Sector, Research Vessels for the Government of India, Bulk Carriers, Gas Tankers, Oil Tankers for private shipping companies, Passenger Vessels, High Speed Crafts for Government agencies & Harbour Crafts for Ports.
Company’s seafarer pool counts more than 400 highly qualified professional seafarers.
Marine Services Business:
Chartering: Company has extensive experience in the Chartering and Commercial Management of third-party vessels.
Ship Inspections, Survey and Certificate Liasoning: Ship inspections services comprise of a thorough visual check on the vessel’s physical structure and condition, testing of critical machinery and safety equipment, as well as a comprehensive review of its documentation and certificate history.
Ship Sale & Purchase: Company is seasoned in acquisition and disposal of assets. Company has been in this business since 2002 and possesses an extensive network of contacts along with market experience to help potential buyers and sellers navigate the sale & purchase market.
Dry Dock Service: Dry-docking is one of the most important activities in a vessel’s lifecycle. Every vessel is required to dry dock at least once every 5 years. Company identifies objectives by engaging stakeholders, preparing comprehensive workscope specifications and executing the project according to plan.
Port Services Business:
Company is experienced in the providing the following services in the Port:
- Pilot Boat for Ship Pilotage.
- Security Boat for Patrolling.
- Vessel Mooring.
- Oil spill response and maintaining Oil spill response equipment.
- Supply of Fire Tender along with Fire Personnel for Port Fire Fighting Services.
- Harbour Tug Management & Operation.
Company’s Customers:
- Ministry of Earth Science.
- National Institute of Ocean Technology (NIOT).
- National Centre for Polar and Ocean Research (NCPOR).
- Centre for Marine Living Resources & Ecology (CMLRE) & Major Ports.
Company’s Revenue Breakup from Customer Segments: (in Lakhs)
Vessels Owned by the Company:
Competitors in the Business:
Competition in this industry can be intensive. It is generally based on vessel availability in a particular region or for a particular contract and price, as well as reliability and reputation in the industry.
Company’s principal competitors both in the listed and unlisted space are The Greatship Group, Samson Maritime Ltd, Shipping Corporation of India, Raj Shipping Agencies Ltd, Seamec Ltd.
Management Team:
- Capt. P B Narayanan (Designation: Managing Director)
- Capt. Jeevan Krishnan Sanjeevan (Designation: Whole Time Director)
Objectives of the Issue:
Fresh Issue: (Rs. Will be Updated)
- Acquistion of off shore vessel.
- Funding the working capital requirements of our Company.
- General corporate purposes.
Fund Utilization:
| Particulars | Amount (Rs. in Crores) |
|---|---|
| Acquistion of offshore vessel | 55 cr |
| Funding the working capital requirements of our Company | 25 cr |
Company intends to deploy the Net Proceeds to partially finance the equity portion aggregating upto Rs. 55 crores for the Acquisition of Vessels satisfying the following size and quality requirements during the Financial Year 2024-25:
Positives for the Company:
Established Brand Name and Reputation.
- Company had started operations in 1992 and have been able to established a reputation and strong customer relationships with various public sector undertakings and the Government.
- With more than four decades of experience of the Promoters, in the industry, company has been able to maintain a long standing relationship with some of our government customers.
- Company intends to continue to leverage the goodwill of our brand to enhance relationships with existing customers and to seek new customers to help us grow our business.
- Company believes that our strong brand name and the reputation that Company has built over the last three decades provides us with access to opportunities to bid for large contracts for our services.
Diversified fleet.
- Company is a fully integrated company with in-house complete vessel management including commercial. This fleet diversification allows company to enter into chartering & ship management arrangements of varying duration with different types of customers.
- Company believes that the existing fleet as well as next generation of fleet will have better functional capabilities and operate more efficiently than equivalent older vessels thereby allowing us to provide improved services to customers.
Experienced Management team.
- Company is led by an experienced and qualified management team with a proven track record of success and knowledge of the Indian and international shipping industry. Many of company’s senior managers are former sailors and captains with years of operational experience.
- Company’s believe that the management’s expertise in managing growth, diversifying the fleet and implementing strategies provides us with significant competitive advantages.
- Each of Company’s in-house teams, and in particular the maritime functions, are headed by individuals who have significant experience in running these functions at various global companies.
Well-positioned to grow Company’s fleet size to take advantage of India’s growth.
- Company is well-positioned to take advantage of expected future growth in the Indian economy. Since 1992, Company has grown the business operations from management services to ship ownership and chartering, project management and fire services.
- Company believes that its ability to grow the fleet size positions us well to take advantage of attractive asset prices and anticipated growth in the shipping industry as the Indian economy and its ties to international markets grows.
Focus on Government related contracts.
- With the Government focussed not to be in business, Company expects more opportunities to bid for contracts for management of ships owned by various Govt Entities.
Financials of the Company: (Consolidated)
| (in Crores) | FY 21 | FY 22 | FY 23 | Upto 31th Oct 23 |
|---|---|---|---|---|
| Revenue | 91.95 | 82.83 | 113.80 | 63.85 |
| Net Profit | 2.07 | 8.42 | 9.52 | 13.51 |
Valuation of Peer Group Companies:
| Company Name | Face Value | EPS | PE Ratio | RoNW |
|---|---|---|---|---|
| ABS Marine Services Ltd | 10 | 5.29 | Will be Updated | 10.19% |
| Shipping Corporation of India Ltd | 10 | 18.68 | 12.51 | 13.52% |
| Seamec Limited | 10 | 13.20 | 87.81 | 4.45% |
IPO Details:
| Details | Info |
|---|---|
| Issue Opens on | Will be Updated |
| Issue Closes on | Will be Updated |
| Issue Price | Will be Updated |
| Face Value | Will be Updated |
| Retail Category Allocation | Will be Updated |
| Minimum Lot | Will be Updated |
| Minimum Investment | Will be Updated |
| Issue Constitutes | Will be Updated |
| Issue Size | Will be Updated |
| Market Cap | Will be Updated |
| Listing at | NSE SME |
| Equity Shares Offered (Fresh) | Will be Updated |
| Equity Shares Offered (OFS) | Will be Updated |
| Total Equity Shares Offered (Fresh + OFS) | Will be Updated |
| Equity Shares Prior to the Issue | Will be Updated |
| Equity Shares after the Issue | Will be Updated |
Important Dates:
| Finalization of Basis of Allotment | Will be Updated |
| Initiation of Refunds | Will be Updated |
| Credit of Equity Shares: | Will be Updated |
| Listing Date: | Will be Updated |
IPO Valuation Parameters:
| Earnings Per Share (EPS) | Price To Earnings ratio (PE) | Return on Net Worth (RoNW) | Net Asset Value (NAV) | Debt Equity Ratio (D/E) |
|---|---|---|---|---|
| 1.18 | Will be Updated | 10.19% | 51.96 | 0.52 |
Also Read: Complete List of NSE/BSE Holidays List>>
| Should You Subscribe or Not ? (Markets Guruji’s View) |
|---|
| ABS Marine Services Ltd is a dynamic entity, offering comprehensive vessel management solutions, including commercial management, all under one roof. Catering primarily to esteemed clientele such as the Government of India, major industrial players, public sector enterprises, port authorities, and private firms.
ABS Marine Services Ltd has established itself as a trusted partner in the maritime domain. Currently overseeing crew management for an extensive fleet of 24 diverse vessels, ranging from Oil Tankers to High-Speed Crafts, the company showcases its versatility and expertise. Supported by strategically located offices in Mumbai, Chennai, Cochin, and Kakinada, ABS Marine Services Ltd ensures seamless operations across key maritime hubs in India. With a seasoned team boasting over four decades of collective experience in the shipping industry, the company stands poised for further growth and success. As ABS Marine Services Ltd ventures into the IPO realm, investors are presented with an opportunity to partake in its promising journey towards excellence and expansion. |
| Company Contact Info: |
|---|
| ABS Marine Services Limited Flat No. 3, Anugraha Foundation, No. 15, Valliammal Road, Vepery, Chennai – 600007, Tamil Nadu, India Telephone No.: +044-42914135/ 155 E-mail: cs@absmarine.com Website: www.absmarine.com |
| Registrar to the Issue: |
|---|
| Purva Share Registry India Private Limited 9 Shiv Shakti India, Estt, J.R. Boricha Marg, Lower Parel, Mumbai- 400011 Telephone: 022 4961 4132/3199 8810 Email Id: newissue@purvashare.com Website: www.purvashare.com |
| Lead Manager to the Issue: |
|---|
| GYR Capital Advisors Private Limited 428, Gala Empire, Near JB Tower, Drive in Road, Thaltej, Ahemdabad-380 054, Gujarat, India. Telephone: +91 8777564648 E-mail Id: info@gyrcapitaladvisors.com Website: www.gyrcapitaladvisors.com |
| Check IPO Allotment Status: |
|---|
Purva : http://Purva Share Services/IPO/Allotment_Status |
| Find the List of Upcoming IPOs in India: |
|---|
Upcoming IPOs in India (Click on the below Link)https://www.marketsguruji.com/upcoming-ipos-in-india/ |
