How did ABS Marine's FY26 results compare to the prior year?

Revenue grew 75% to ₹322.6 crore, while EBITDA jumped 179% to ₹152.6 crore. The sharper EBITDA growth reflects the fixed-cost nature of vessel operations.

What is the guidance for FY27?

Management set a floor of at least 10% revenue growth and guided for EBITDA margins in the 45-50% range. This is a minimum, not a ceiling.

What is the fleet expansion plan?

The company operates 12 vessels and plans to add 7-8 more over the next two to three years. It has already secured a five-year charter for the newly acquired vessel Artemis.

How will the tax rate change?

The effective tax rate is expected to fall to 1.5-2% as 75% of revenue shifts to the Tonnage Tax scheme starting this fiscal year. This should meaningfully boost net profit.

Shipping · Micro cap

ABS Marine's EBITDA jumped 179% on 75% revenue growth

The offshore vessel operator guided for a 10% revenue floor in FY27 and secured a five-year charter for its newest ship, Artemis.

ABSMARINE By Tipsheet Editorial 3 Jun 2026 · 4:29 PM IST Verify on NSE

Mkt cap₹683 cr

P/E8.54×

ROE11.78%

Debt / eq.0.77

179% Year-on-year EBITDA growth in FY26

What's new

FY26 revenue rose 75% to ₹322.6 cr; EBITDA jumped 179% to ₹152.6 cr.
Management guided for at least 10% revenue growth in FY27 and EBITDA margins of 45-50%.
The company plans to add 7-8 vessels over two to three years and locked in a five-year charter for the vessel Artemis.

Why this matters

A 75% revenue increase translating to 179% EBITDA growth shows how fixed-cost ships amplify gains at higher utilisation. The guidance sets a clear benchmark, and the Tonnage Tax shift will push nearly all revenue into a 1.5-2% tax bracket, boosting net profit.

What we're watching

Execution on the 7-8 vessel addition plan and its capital requirements.
Whether the 45-50% EBITDA margin guidance holds as the fleet scales.
The impact of the Tonnage Tax scheme on FY27 net profitability.

The full read

ABS Marine's fleet is small but its growth is not. The operator of 12 vessels saw FY26 revenue climb 75% to ₹322.6 crore, which drove EBITDA up 179% to ₹152.6 crore. Management set a clear floor for FY27: at least 10% revenue growth, with EBITDA margins of 45-50%. The catalyst for the next leg is fleet expansion. The company plans to add 7-8 vessels over two to three years and has already locked in a five-year charter for its newest ship, Artemis. A separate tailwind is structural: starting this year, 75% of revenue shifts to the Tonnage Tax scheme, which should cut the effective tax rate to 1.5-2%.

Questions answered

How did ABS Marine's FY26 results compare to the prior year?: Revenue grew 75% to ₹322.6 crore, while EBITDA jumped 179% to ₹152.6 crore. The sharper EBITDA growth reflects the fixed-cost nature of vessel operations.
What is the guidance for FY27?: Management set a floor of at least 10% revenue growth and guided for EBITDA margins in the 45-50% range. This is a minimum, not a ceiling.
What is the fleet expansion plan?: The company operates 12 vessels and plans to add 7-8 more over the next two to three years. It has already secured a five-year charter for the newly acquired vessel Artemis.
How will the tax rate change?: The effective tax rate is expected to fall to 1.5-2% as 75% of revenue shifts to the Tonnage Tax scheme starting this fiscal year. This should meaningfully boost net profit.

Mentioned: ABS Marine Services Ltd. · Artemis vessel charter · Tonnage Tax scheme

Primary source NSE

An independent reading of the company's own disclosure — the primary filing above is the final word.