Seamec Share Price Jump 7% After ₹410 Crore ONGC Vessel Contract Win

SEAMEC share price (NSE: SEAMECLTD) moved higher in Monday’s trading session after the company announced a major contract win from Oil and Natural Gas Corporation Ltd (ONGC). The order relates to operation and maintenance services for a support vessel and boosted investor sentiment, pushing the stock higher during the day.

Seamec Share Price Rise in Trade

SEAMEC share price surged as much as 7.3% during intra-day trading, reaching around ₹1,420 per share, marking its largest intraday gain since January 29.

Later in the session, the stock trimmed some gains but was still trading about 5.8% higher at around ₹1,400. During the same time, the benchmark Nifty 50 was up only 0.14%, indicating stronger buying interest in the stock.

So far in 2026, the stock has gained around 27%, outperforming the broader market where the Nifty 50 has risen about 11.4%. The company currently has a market capitalisation of approximately ₹3,540 crore.

Seamec Wins Vessel Contract From ONGC

SEAMEC Ltd said it has received a notification of award from Oil and Natural Gas Corporation Ltd for providing operation and maintenance (O&M) services for the ONGC-owned multipurpose support vessel “Samudra Sevak.”

The contract has been awarded to a consortium of SEAMEC and Supreme Hydro Private Ltd.

The agreement covers operation and maintenance services for the vessel for the 2026–2028 period.

Key Details of the Contract

According to the company’s regulatory filing:

• The contract value is around ₹410.74 crore, including GST
• The contract duration is 738 days
• Work will start within 60 days from the notification issued on March 13, 2026
• The order was awarded by a domestic entity as part of normal business operations

The company also clarified that its promoter group has no interest in the entity awarding the contract.

Previous Order Win

Last month, SEAMEC Ltd also secured another order worth $460,000 from Supreme Offshore Construction & Technical Services Ltd.

Under that contract, the company’s vessel “Seamec Princess” was chartered to operate in ONGC’s offshore oil fields along the west coast of India.

Business Operations

SEAMEC Ltd provides offshore support services mainly for the oil and gas sector.

The company operates diving support vessels (DSVs) that help in offshore exploration and maintenance activities. Through its subsidiaries, the company also operates bulk carrier vessels.

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Seamec Financial Performance

In the third quarter of FY26, SEAMEC Ltd reported a strong turnaround in profitability.

• Net profit: ₹99.62 crore (compared with a loss of ₹3.32 crore last year)
• Revenue from operations: ₹317.05 crore
• Year-on-year revenue growth: 112.3%

The strong growth reflects higher offshore activity and improved contract execution during the quarter.

Conclusion

The development has boosted investor confidence, leading to a sharp rise in the company’s share price during the day session.

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