SEAMEC Bags ₹411 Crore ONGC Contract; Shares Rise

EC Ltd, in consortium with Supreme Hydro Pvt Ltd, has secured a major order worth ₹410.74 crore (approx. ₹411 crore including GST) from Oil and Natural Gas Corporation (ONGC). The contract involves providing operation and maintenance (O&M) services for ONGC’s multipurpose support vessel “Samudra Sevak” for a period of 738 days (2026–2028). The Notification of Award (NOA) was issued on March 13, 2026, with operations to begin within 60 days. The win strengthens SEAMEC’s order book and provides clear revenue visibility over the next two years. It highlights the company’s strong position in offshore marine and subsea services amid rising activity in India’s oil & gas sector. Following the announcement, SEAMEC shares traded positively, building on an impressive 54%+ gain over the past nine months. The latest contract is expected to support continued momentum in the company’s financial performance.