The shares of this shipping company engaged in the business of offering provision of diving services, manned and unmanned subsea operations, are in focus after receiving a new contract from its evergreen customer, ONGC.
With a market capitalization of Rs. 2,196 Cr, shares of SEAMEC Ltd opened at Rs. 856.80 per equity share, from its previous day’s closing price of Rs. 865.10, and made an intraday high of 877.90 per share(2.37 percent).
Contract Details
SEAMEC Limited has received a new contract from Oil and Natural Gas Corporation Limited (ONGC), officially awarded on July 8, 2025. The project includes repairing and replacing parts of the Spider Deck Members on Platform NLM9 in the Western Offshore region. This work is important to keep the offshore platform safe and running smoothly.
The total contract value is Rs 39.20 crore, the project is set to start around October 16, 2025, and must be finished within 90 days. This is a regular business contract for SEAMEC, awarded by ONGC.
This contract highlights SEAMEC Ltd’s strong position in offshore and marine services and shows its ongoing dedication to helping India’s energy sector with dependable and timely work.
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Company details
SEAMEC Ltd provides underwater diving, subsea operations, and offshore support using its specialized vessels. It has also expanded into shipping by owning bulk carrier ships for transporting cargo.
The company has built a strong presence in the industry by working with well-known clients like ONGC, L&T, POSH, Mermaid, and Kreuz Subsea, which reflects its trusted reputation and solid client base.
The company’s revenue from operations declined from Rs. 729 crores in FY24 reaching Rs.652 crores in FY25, reflecting negative business growth, and the net profits of the company dropped from Rs. 121 crores in FY24 to 88 crores in FY25, indicating a decrease in earnings.
Its Return on Capital Employed (ROCE) 9.17 percent, indicating strong capital efficiency. The Return on Equity (ROE) stands at 8.40 percent reflecting consistent Profitability. The Company’s Price to earnings ratio is 27.2 times the industry average is 12.8, showing a moderate market valuation.
Written by Sudeep Kumbar
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