Under Rs 100: This Shipping Company Signs Rs 7,00,00,000 Agreement with Visakhapatnam Port Authority for Fire Tender Supply and Services!

The company’s shares have delivered an impressive return of over 385 per cent in the past 5 years.

Founded in October 1992, ABS Marine Services Limited specializes in Ship Management, Vessel Ownership, Marine Services, and Project Management.

Today, the company has entered into an Agreement with Visakhapatnam Port Authority, one of India's twelve Major ports. The agreement involves supplying two new fire tenders to the Fire Service Section of VPA, along with manpower, operation, and maintenance services for 24 hours daily over five years. The total contract value amounts to Rs. 7 Crores for the entire duration of the contract.

Today ABS Marine Services Limited shares closed the day at Rs 363 per share. The company’s current market capitalization stands at Rs 891.17 crore. The stock has delivered a return of over 57 per cent in just 1 month.

In FY24, the company reported a revenue of Rs 135 crore compared to Rs 112 crore and a net profit of Rs 25 crore, compared to a profit of Rs 10 crore in the previous year.

The company operates across four main divisions: Ship Ownership, Ship Management, Marine Services, and Port Services. As of December 31, 2023, the company manages a fleet of 12 vessels for various clients including government entities, public and private companies, and port authorities. Additionally, it provides crew management services for 24 additional vessels such as oil tankers, gas carriers, bulk carriers, passenger ships, and high-speed vessels.

The company owns and operates a diverse fleet of vessels under full charter, management, and crewing. This fleet includes advanced DP-2 multipurpose offshore supply vessels, anchor handling supply vessels, versatile marine research vessels, coastal research vessels, oceanographic fisheries research vessels, bulk carriers, gas tankers, oil tankers, passenger vessels, high-speed crafts, and harbor vessels.

Investors must keep this Small-Cap stock on their radar.

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