Synopsis: Shares of SEAMEC Limited rose 4% after securing a Rs 329 crore offshore contract from Oil and Natural Gas Corporation Limited. The 698-day deal improves revenue visibility, asset utilisation, and earnings stability, while strong financial growth and order inflow further boosted investor sentiment toward the marine services company.
The shares of this company, which owns and operates multi-support vessels for the provision of diving services, manned and unmanned subsea operations and related activities and has also diversified into the main fleet shipping vertical by acquiring bulk carriers of various sizes, were in momentum today after the company announced bagging a contract from ONGC worth Rs 329 crore.
With a market cap of Rs 3,560 crore, the shares of SEAMEC Ltd jumped about 4% in today’s trading session and reached a high of Rs 1470.75. When compared to its previous day’s closing price of Rs 1419.90. The shares are trading at a PE of 18.7, whereas their industry’s PE is at 11, and they have given a return of more than 200% in the last 5 years.
Strong Order Win Boosts Revenue Visibility
SEAMEC Limited has again come into the limelight after winning a Rs 329 crore offshore contract from Oil and Natural Gas Corporation Limited for the operation and maintenance of the vessel “Samudra Prabha”. Such a large order win will add to the order book and provide revenue visibility.
The contract has a duration of 698 days, which will provide stable cash flow and increase the utilisation of its marine assets. Long-term contracts are vital in the industry, as they provide stability in earnings and hence make the stock more attractive to investors by giving a positive sentiment.
Strategic Client Relationship and Execution Stability
The contract received from ONGC, a significant PSU client, adds to the company’s credibility in the offshore service segment. A strong relationship with large clients generally ensures repeat business, thus providing a fillip to long-term growth potential.
Moreover, since this is a normal course of business and not a related party transaction, it adds to the company’s stability. This is a strong message for investors regarding the sustainability of earnings.
Overall, this is a good sign for the company in terms of strong order inflow, improved utilisation, and stability in execution, which has attracted investor attention and has given a strong push to the stock of SEAMEC.
Financials and more
The revenue from operations for the company stood at Rs 317 crore in Q3 FY26 compared to the Q3 FY25 revenue of Rs 149 crore, up by about 113 per cent YoY. Similarly, the net profit stood at Rs 100 crore in Q3 FY26, up compared to the Rs 3 crore loss in Q3 FY25.
The client portfolio of SEAMEC Limited reflects strong credibility and global reach, with marquee names such as Oil and Natural Gas Corporation Limited, ADNOC, Saudi Aramco, and L&T Hydrocarbon Engineering. Its association with leading global offshore and energy players indicates high technical capability and trust, while repeat business from such clients strengthens revenue visibility and positions the company as a reliable offshore services provider across international markets.
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