Alphageo India has received a contract worth Rs.131.63 crore from Oil India

Alphageo (India) Limited has landed a contract worth Rs.131.63 crore from Oil India Limited. The project involves acquiring 2D seismic data in the Ganga and Punjab Basin, to support oil and gas exploration in these regions. This contract is set to run until June 2026. For those unfamiliar, 2D seismic data acquisition is a technique used to map the subsurface, helping companies figure out where potential oil and gas reserves might be located.

Previous Orders & Industry Standing

This isn’t Alphageo’s first big win. Earlier this year, they bagged a Rs. 57.15 crore contract for seismic data work in Rajasthan and a Rs. 46.04 crore order for similar services in Odisha. Known as India’s largest private-sector seismic data provider, Alphageo continues to dominate the market with its top-notch services.

Stock Surge & Financials

After the news broke, Alphageo’s stock jumped 5%, hitting an upper circuit at Rs.438 on the BSE. With a market capitalization of Rs.278.8 crores, the stock opened higher than its previous close of Rs.417.15. The company’s stock has delivered returns of 52.8% so far in 2024, highlighting investor confidence after this new contract.

In the first quarter of FY25, Alphageo reported good financial growth, with revenue rising nearly five-fold to Rs.25.3 crores, compared to Rs.5.2 crores in the same period the previous year. The company also turned around its financial performance, recording a net profit of Rs.4.02 crores, up from a loss of Rs.3.2 crores in Q1FY24.

Conclusion: Wrapping It Up, With this latest contract, Alphageo strengthens its role in supporting India’s oil and gas exploration efforts. The company’s recent financial growth and consistent contract wins suggest they’re on a solid path, making it a company to watch in the energy sector.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.