During Tuesday’s trading session, the shares of a company providing geophysical seismic data acquisition, processing and interpretation services hit a 5 percent upper circuit at Rs. 438 on BSE, after the company secured an order worth Rs. 131.63 crores from Oil India Limited.
With a market capitalisation of Rs. 278.8 crores, the shares of Alphageo (India) Limited opened in the green at Rs. 438, as against its previous closing price of Rs. 417.15.
What’s the News:
According to the latest regulatory filings with the stock exchanges, Alphageo (India) Limited received an Award of Contract from Oil India Limited, based in Duliajan, Assam, for a contract value of Rs. 131.63 crores.
This contract involves 2D Seismic Data Acquisition in the Ganga-Punjab Basin and is set to be completed by June 2026.
2D seismic data acquisition is a method used in geophysical exploration to create a two-dimensional image of the subsurface, primarily for oil and gas exploration.
The method is based on reflection seismology, where seismic waves are generated and their reflections from subsurface layers are recorded. These reflections provide insights into the geological structures beneath the surface.
Previous Order:
On 27th January, Alphageo (India) Limited received the Award of Contract from Oil India Limited, Rajasthan, for acquiring 3D and 2D seismic data in Rajasthan for a contract value of Rs. 57.15 crores.
Earlier on 11th July, Alphageo Offshore Services Private Limited (AOSPL), the company’s non-material subsidiary and joint venture company, received an order worth Rs. 46.04 crores from Oil India Limited for 3D Seismic Data Acquisition in Odisha.
Financials:
The company reported a significant growth in revenue from operations, experiencing a year-on-year increase of nearly 386.5 percent, rising from Rs. 5.2 crores in Q1 FY24 to Rs. 25.3 crores in Q1 FY25.
During the same period, the company’s net profit rose from a loss of Rs. 3.2 crores to a profit of Rs. 4.02 crores.
Stock Performance
The stock has delivered positive returns of nearly 49 percent of returns in one year, as well as around 32 percent returns in the last six months. So far in 2024, the shares of Alphageo (India) Ltd have given positive returns of about 52.8 percent.
About the Company:
Incorporated in 1987, Alphageo (India) Limited is engaged in the business of providing Geophysical Seismic Data Acquisition, Processing, and Interpretation Services for the exploration of hydrocarbons and minerals.
Written by Shivani Singh
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