Seamec Share Price Jumps 7% After $16.7 Million Vessel Hire Deal With GR Infraprojects

Seamec share price (NSE: SEAMECLTD) gained sharply on Thursday, jumping 6.86% to an intraday high of ₹1,083. By 12:15 PM, the stock was still up 2.98% at ₹1,043.70, outperforming the Sensex, which was up 0.44%.

Why the Seamec Share Price Jumped

Seamec’s share price rallied after the company announced it had signed a subcontract with G R Infraprojects for hiring its vessel SEAMEC III.

The vessel will be used for ONGC’s major offshore projects, including:

• Pipeline Replacement Project – Group A (PRP-VIII A)
• Part Replacement Pipeline Project
• DSF II Project

The contract is valued at $16.72 million (excluding GST), will run for 150 days, and will be executed on a lump-sum basis.

By 3:24 PM, the stock traded at ₹1,055.50, up 3.85%, with a day range of ₹1,017–₹1,085.

Seamec Q2 FY26 Results: Profit Turns to Loss

In Q2FY26, Seamec reported:

• Revenue: ₹107.5 crore, down 3% YoY
• Net loss: ₹25.7 crore vs profit of ₹0.2 crore last year
• EBITDA: ₹17.9 crore, down 53% YoY
• EBITDA margin: 16.6% (vs 34.4% last year)

The sharp drop in operational performance was driven by weaker offshore activity and higher operating costs.

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About Seamec

Seamec (South East Asia Marine Engineering & Construction) is a key offshore services firm under the MMG Group.
It specialises in:

• Diving support vessels (DSVs)
• Subsea engineering and inspection
• Marine operations for oil & gas companies

The company also operates bulk carriers and manages vessels for other clients. Its operations extend across India, the Middle East, Southeast Asia, West Africa, and the Gulf of Mexico.

Conclusion

Seamec’s stock jumped mainly due to the new $16.7 million vessel deployment contract, which boosted investor confidence despite the company reporting weak Q2 results and a net loss. The deal is expected to support revenue in the coming months and partially offset recent operational pressures.

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