ABS Marine Services Limited, incorporated in 1992, is a leading maritime company operating in the shipping services industry, providing diversified services such as manning & technical services and chartering & hiring services. Originally incorporated as ABS Marine Services Private Limited on October 27, 1992, the company was converted to a Public Limited Company with a fresh Certificate of Incorporation issued on October 23, 2023. The company was founded by Captain P B Narayanan, who continues to serve as both Chairman and Managing Director.
The company serves a diverse clientele primarily comprising Government of India, large industrial concerns, public sector undertakings, port authorities and private sector entities. Their business operations are strategically organized into four key divisions: Ship Owning, Ship Management, Marine Services and Port Services. ABS Marine Services is positioned as a fully integrated company with in-house complete vessel management including commercial management, providing crew management services to ships comprising Oil Tankers, Gas Tankers, Bulk Carriers, Passenger Vessels, Offshore Support vessels, Harbour Crafts and High Speed Crafts.
As of FY24, the company operates an impressive fleet consisting of 5 Owned Ships, 1 Long Term Chartered-in Ship, and manages 36 Vessels Under Management. The company started operations with two offshore vessel management and as of December 31, 2023, operates 5 owned vessels comprising of 2 advanced offshore vessels serving the Oil & Gas sector and 3 Harbour Crafts. This operational scale demonstrates the company's significant presence in the Indian maritime sector.
The company's fleet expansion journey showcases steady growth over the years. In 2004, ABS established Epsom Shipping and commenced Ship Owning activities with the first purchase of Offshore Support Vessel Epsom 1. In 2006, it designed and built the Multi-Purpose Dive and ROV Support M.V. ATLA in Sarawak, Malaysia. Further expansion occurred in 2014 with the construction and delivery of the new DP-2 Multi-Purpose Offshore Supply Vessel "M.V. Celestial" at Xiamen Shipbuilding Industry, China, owned by subsidiary Epsom Shipping India Pvt Ltd. The growth continued with the acquisition of one Offshore Support Vessel from Milaha, Qatar in 2015, and milestone purchases including ABS Amelia Vessel in 2019 and Vessel ERIN in 2022.
The Company provides a comprehensive range of services including ship management, marine services, ship-owning, and port services. Ship management encompasses crew management and technical management, while marine services include chartering, ship inspections, survey and certificate liaising, new build supervision, agency liaising, ship sale and purchase, dry dock service, wreck removal, ocean towage, and single point mooring services.
The port owning services division provides offshore support vessels, dive support vessels, multipurpose support vessels, platform support vessels, anchor handling towing and supply vessels, crew boats, chase boats, patrol boats, pull back tugs, towing tugs and offshore barges. Port services include tugs, crew and pilot boats, oil pollution response, emergency response and patrol vessels. The majority of the company's manning and technical services operate on a tender-based model.
As per the latest available data, ABS Marine Services has a market capitalization of ₹527 Crores, with revenue of ₹180 Crores and profit of ₹27.3 Crores. The company demonstrates strong financial metrics with annual revenue growth of 21%, pre-tax margin of 19%, and exceptional ROE of 20%. The company maintains a healthy balance sheet with a reasonable debt to equity ratio of 23%. The company has delivered impressive profit growth of 150% CAGR over the last 5 years.
Key financial metrics include:
• Stock P/E: 19.4, Book Value: ₹93.9
• Promoter Holding: 63.4%
• ROCE: 14.2%, ROE: 15.6%
• 52-week High/Low: ₹390/₹92.1
Recent results show significant growth momentum, with the company announcing audited financial results for H2 FY25 and FY25. In July 2025, ABS Marine reported audited FY25 standalone and consolidated results with profit growth and increased capital, while also winning a ₹3.79 Crore 3-year fire support contract with Deendayal Port Authority.
The company operates through subsidiaries including Epsom Shipping India Private Limited and ABS Marine Singapore Pte Ltd, which enable its international operations and vessel ownership activities. The company is led by Chairman and Managing Director PB Narayanan, with no promoter pledging reported, indicating strong promoter confidence.
The market cap of ABS Marine Services Ltd stands at ₹404.79 Crores as of June 16, 2025, with a 52-week high of ₹425 and 52-week low of ₹92.10. Classified as a Small Cap company, the stock trades at a P/B ratio of 2.30 times (33% discount to peers' median of 3.42 times) and P/E ratio of 12.10 times (63% discount to peers' median of 32.89 times) as of May 7, 2025.
The company continues to strengthen its market position through strategic contract wins and operational expansion, making it a significant player in India's maritime services sector. With its diversified service portfolio, experienced management team, and strong financial performance, ABS Marine Services Limited remains well-positioned to capitalize on opportunities in the growing Indian maritime industry.
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