This small-cap company bags new order worth USD 32 million from ONGC!

Shares of this company gained more than 12 per cent in the last one month.

On July 07, 2023, SEAMEC Limited informed in the exchange filing that the company has received a new order worth USD 32 million from ONGC. The contract is awarded to the consortium of SEAMEC Limited and Supreme Hydro Engineering Pvt. Limited for Charter hire of Barge sans Tugs “SEAMEC GLORIOUS” for 2 fair weather seasons during 2023-24 & 2024-25 for Western Offshore.

Seamec was incorporated in 1986. It operates in two distinct verticals of the shipping business - offshore support vessels & services and bulk carrier charter business. The company owns five vessels and one barge in the offshore support business wherein the vessels are deployed in the domestic and international markets. Through its international subsidiary - Seamec International FZE and its joint venture – Seamate Shipping FZC, the company has also diversified its presence in the bulk carrier charter business wherein it owns one dry bulk carrier and two cargo vessels.

On Friday, the stock opened at Rs 762.85, with a high and low of Rs 770.75 and Rs 730.00. The stock closed trading at Rs 737.90, down by 2.47 per cent. 

In the last one month, the shares of the company have given about 13 per cent returns, and in the last 1 year, the stock has given about -18 per cent returns. 

The stock has a 52-week high of Rs 1274.95 and a 52-week low of Rs 563.30. The company has a ROCE of 3.81 per cent and an ROE of 4.29 per cent with a market capitalisation of Rs 1,876.11 crore.