Alphageo shares hit 20% upper circuit on securing orders worth over ₹118 crore from ONGC

The onshore integrated seismic service provider has received contracts from India’s largest government-owned oil and gas explorer ONGC for the 2D Seismic Data Acquisition in two regions, Sector 1 – Chhattisgarh, and Sector 3A - Krishna-Godavari, Alphageo India informed the stock exchanges in a filing.

As per the stock exchange filing, ONGC has awarded Alphageo India a contract for the 2D Seismic Data Acquisition in Sector 1 – Chhattisgarh. The contract value is ₹38.29 crore, including taxes.

The order is scheduled to be executed by January 2026, the company said on December 16.

The other contract awarded by ONGC to Alphageo India is for the 2D Seismic Data Acquisition in Sector 3A: Krishna-Godavari, for a contract value of ₹80.34 crore, including taxes. The domestic order must be executed by May 2026, the company said.

So far this calendar year, shares of Alphageo (India) have surged nearly 60%. In a month’s period, the shares have gained over 22%, and are sharply up by 61% over the last one year.

For the quarter ended September 30, 2024, the seismic service provider posted a consolidated net profit of ₹1.66 crore compared to a net loss of ₹4.33 crore in the same period a year ago.

Its consolidated revenue from operations rallied multifold to ₹18.69 crore in the second quarter of the financial year 2025 as opposed to ₹2.38 crore in the corresponding quarter of the previous year.

The company’s total assets stood at ₹206.27 crore as on September 30, 2024, compared to ₹221.64 crore in the year-ago period, marking a 7% drop.

Shares of Alphageo India have gained over 20.16% in the past five sessions while rising nearly 22% in the last one month. The stock has rallied over 57% this year so far and 60.39% in the last one year.