ABS Marine Services IPO Details, Financials, Valuation & Peers

ABS Marine Services Limited, formerly known as ABS Marine Services Private Limited, is a prominent player in the shipping industry, offering a comprehensive range of vessel management and crew management services. With a strong foundation laid by its experienced promoter, Capt. P B Narayanan, the company has established itself as a reliable partner for various stakeholders in the maritime sector. ABS Marine Services operates a diverse fleet of vessels, including offshore supply vessels, research vessels, bulk carriers, tankers, and high-speed crafts, catering to the needs of both public and private sector clients.

Key Points:

1. Establishment and Growth: Founded in 1992 by Capt. P B Narayanan, ABS Marine Services initially began operations with two offshore vessel management. Over the years, the company has witnessed significant growth, expanding its fleet to five owned vessels, including advanced offshore vessels and harbor crafts, as of December 31, 2023. Additionally, ABS Marine Services is engaged in the total ship management of 12 vessels on behalf of various government agencies, public sector undertakings, private companies, and port authorities.
2. Diverse Fleet: The company operates a diverse fleet of vessels, encompassing state-of-the-art DP-2 multipurpose offshore supply vessels, anchor handling towing supply vessels, ocean research vessels, coastal research vessels, fishery oceanographic research vessels, bulk carriers, gas tankers, oil tankers, passenger vessels, high-speed crafts, and harbor crafts. This diverse fleet enables ABS Marine Services to cater to a wide range of maritime requirements across different sectors.
3. Fully Integrated Operations: ABS Marine Services prides itself on being a fully integrated company with in-house vessel management capabilities, including commercial management. This integrated approach allows the company to provide comprehensive services to its clients, covering all aspects of vessel operations and management, thereby ensuring operational efficiency and client satisfaction.
4. Clientele and Strategic Contracts: The company's clientele primarily comprises government agencies, large industrial concerns, public sector undertakings, port authorities, and private sector entities. ABS Marine Services has secured ten strategic contracts with government agencies, contributing significantly to its revenue from operations. Notably, one major contract with the Ministry of Earth Sciences (MOES) accounts for 23.50% of the company's revenue from operations, highlighting its strong partnerships with government entities.