SEAMEC Secures USD 460,000 Charter Hire for Diving Support Services
Kiran DSIJCategories: Multibaggers, Trending
The stock is up by 85 per cent from its 52-week low of Rs 753 per share and has given multibagger returns of over 1,500 per cent in a decade.
SEAMEC Ltd has successfully commenced a charter hire agreement for its vessel, "SEAMEC PRINCESS," with Supreme Offshore Construction & Technical Services Ltd. The vessel is deployed in the ONGC Oilfield on the West Coast of India to execute critical underwater operations, including both SAT (Saturation) and Air Diving tasks. The charter officially began on Saturday, February 14, 2026, at 21:30 hrs, marking another active deployment for the vessel in the domestic offshore sector.
The contract carries an estimated total value of USD 460,000, exclusive of GST, for a firm duration of approximately four days. While the initial period is short-term, the agreement includes provisions for extensions based on mutually agreed terms between the parties. This arrangement highlights SEAMEC’s continued role in supporting subsea technical services and infrastructure maintenance within India’s primary offshore oil and gas fields.
About the Company
SEAMEC Ltd is a diversified marine services company with a focus on offshore operations and bulk carrier transportation. The company owns and operates a fleet of four multi-support vessels, providing diving services, manned and unmanned subsea operations and related activities. In addition to its offshore operations, SEAMEC Ltd has expanded into the bulk carrier shipping vertical, acquiring three vessels of varying sizes. The company's fleet is primarily engaged in the Indian market. SEAMEC Ltd is a subsidiary of HAL Offshore Limited, a leading provider of underwater services and EPC solutions to the Indian Oil and Gas industry.
The company delivered an exceptionally strong financial performance, characterised by triple-digit growth and a sharp turnaround in profitability. For the quarter, consolidated revenue surged 138 per cent YoY to Rs 331 crore, driving a bottom-line shift from a loss of Rs 3 crore to a robust PAT of Rs 100 crore. This momentum is mirrored in the 9M FY26 results, where revenue climbed 42 per cent YoY to Rs 670 crore and consolidated PAT more than tripled to Rs 150 crore, reflecting significant operational scaling and enhanced margin efficiency.
The company has a market cap of over Rs 3,500 crore. The stock is up by 85 per cent from its 52-week low of Rs 753 per share and has given multibagger returns of over 1,500 per cent in a decade. In December 2025, DIIs bought shares and increased their stake to 4.08 per cent compared to September 2025.
Disclaimer: The article is for informational purposes only and not investment advice.