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Seamec plans to restructure biz. with unlisted holding company, HAL Offshore

Capital Market 

The board of Seamec planned to meet on Tuesday, 2 November 2021, to discuss regarding the proposal for a merger/ demerger/ reverse merger/ amalgamation/ restructuring arrangement in a bid to synergize resources with HAL Offshore (HAL).

HAL is an unlisted and holding company of Seamec. The announcement was made before market hours today, 18 October 2021.

The company reported a consolidated net profit of Rs 12.70 crore in Q1 FY22 as against a net loss of Rs 3.28 crore in Q1 FY21. Net sales during the quarter increased by 97.7% Y-o-Y (year-on-year) to Rs 72.99 crore.

Seamec is the region's leading provider of diving support vessel (DSV) based diving services. It also provides utility services and bulk carrier services.

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

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First Published: Mon, October 18 2021. 11:33 IST
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