Gujarat Pipavav Port Secures 5-Year ONGC Contract for Offshore Supply Base

has been awarded a five-year contract by ONGC, effective October 1, 2025, to provide marine support and storage facilities for its offshore supply base. While this strategic win adds long-term visibility, the port operator recently reported a 4.8% YoY dip in Q1FY26 net profit to ₹104.3 crore (vs. ₹109.6 crore last year), even as revenue rose 1.8% to ₹250.4 crore. EBITDA slipped 1% to ₹148 crore with margins easing to 59.1% from 60.8%. Operationally, container volumes declined 1% on lower Exim trade, bulk cargo inched up 1% on mineral demand, liquid cargo surged 21% on stronger LPG handling, and RoRo volumes grew 11% driven by OEM dispatches. The ONGC contract could provide a steady earnings stream and operational leverage going forward.