SEAMEC Limited has announced the receipt of a significant Notification of Award (NOA) from the Oil and Natural Gas Corporation Limited (ONGC) for hiring Operation & Maintenance (O&M) services. This domestic contract involves providing specialized services for the ONGC-owned Multi-Support Vessel (MSV) “Samudra Sevak” for the period 2026-2028. The tenure of the contract is 738 days and is scheduled to commence within 60 days from the date of the NOA.

The contract, awarded to the consortium of SEAMEC Limited and Supreme Hydro Pvt Ltd, is valued at approximately ₹410.74 crores (inclusive of GST). This order falls under the normal course of business for SEAMEC and does not involve any interest from the company’s promoter group, nor is it classified as a related party transaction. The execution of this contract further strengthens the company’s long-standing partnership with ONGC in the Indian offshore sector.

SEAMEC Limited is a leading provider of multi-support vessel (MSV) services in India, primarily focusing on subsea inspection, repair, maintenance, and light construction for offshore oil production. A member of the MMG Group, the company operates the largest fleet of multi-functional vessels in India. In recent 2025 updates, the company signed a landmark Memorandum of Understanding (MoU) with the Directorate General of Shipping to invest ₹1,000 crore progressively into its maritime business. Other major orders in 2025 included a subsea installation project from L&T and multiple vessel charters for “SEAMEC III” and “SEAMEC Princess”.

For the quarter ended December 31, 2025, SEAMEC reported a record-breaking financial performance with consolidated revenue jumping 138% year-on-year to ₹331.44 crores. The company achieved a massive turnaround in profitability, posting a net profit of ₹99.62 crores compared to a loss of ₹3.32 crores in the same quarter last year. This growth was driven by peak vessel deployment and firm charter rates. Notable institutional investors in the company as of early 2026 include Nippon India Small Cap Fund, which holds approximately 3.58% of the company’s shares.