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Deep Industries Shareholders Approve MOA Amendment and New Independent Director Appointment
Deep Industries Limited has announced the successful passage of two key resolutions via postal ballot with the requisite majority. Shareholders approved an amendment to the Main Object Clause of the Memorandum of Association, which often signals a strategic shift or expansion in business activities. Additionally, the appointment of Mr. Shalin Harshadbhai Patel as a Non-Executive Independent Director was confirmed. The voting process concluded on April 27, 2026, involving a shareholder base of 38,058 as of the record date.
Key Highlights
Special Resolution passed to alter the Main Object Clause of the Memorandum of Association
Appointment of Mr. Shalin Harshadbhai Patel (DIN: 08214933) as Non-Executive Independent Director approved
Total number of shareholders as on the record date of March 20, 2026, stood at 38,058
Remote e-voting was conducted from March 29, 2026, to April 27, 2026
💼 Action for Investors
Investors should review the specific changes to the Main Object Clause once detailed to understand the company's future growth areas. The appointment of a new independent director is a routine but positive step for corporate governance.
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Deep Industries Proposes Expansion into Green Energy and Hydrogen via MOA Amendment
Deep Industries Limited has issued a postal ballot notice seeking shareholder approval for a significant strategic expansion into renewable energy sectors. The company proposes to amend its Memorandum of Association to include business activities related to hydrogen, carbon capture, electric mobility, and various green energy technologies. Additionally, the ballot seeks the formal appointment of Mr. Shalin Harshadbhai Patel as an Independent Director for a five-year term. E-voting for these resolutions will take place from March 29, 2026, to April 27, 2026.
Key Highlights
Proposed amendment to MOA to include hydrogen, green energy, carbon capture, and EV infrastructure businesses.
Appointment of Mr. Shalin Harshadbhai Patel as Independent Director for a 5-year term from March 2026 to March 2031.
Remote e-voting period scheduled from March 29, 2026, to April 27, 2026.
Cut-off date for determining shareholder voting eligibility set as March 20, 2026.
Strategic shift targets high-growth sectors including solar, wind, biomass, and waste-to-energy.
💼 Action for Investors
Investors should view this as a positive long-term strategic pivot toward the green energy transition, which could diversify revenue streams beyond traditional oil and gas services. Monitor for future contract wins or capital expenditure announcements related to these new business segments.
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Deep Industries Receives NCLT Approval for Merger of Kandla Energy and Chemicals
Deep Industries Limited (DIL) has received formal sanction from the NCLT Ahmedabad Bench for the merger of its wholly-owned subsidiary, Kandla Energy and Chemicals Limited (KECL), into itself. The scheme, which was initially disclosed on June 30, 2025, was officially sanctioned via an order dated March 23, 2026. This amalgamation is expected to streamline the corporate structure and consolidate the financial and operational resources of the group. Since KECL is a 100% subsidiary, the merger will simplify compliance and eliminate inter-company overheads.
Key Highlights
NCLT Ahmedabad Bench sanctioned the Scheme of Amalgamation on March 23, 2026.
Kandla Energy and Chemicals Limited (KECL) is a 100% wholly-owned subsidiary of Deep Industries.
The merger process follows the initial regulatory disclosure made on June 30, 2025.
The consolidation is executed under Sections 230 to 232 of the Companies Act, 2013.
💼 Action for Investors
Investors should view this as a positive administrative move that simplifies the company's structure and may lead to operational efficiencies. No immediate action is required as the merger involves a wholly-owned subsidiary.
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Deep Industries: Partial Revocation of Business Suspension for Key Services
Deep Industries has received a significant amendment to a previous business suspension order dated February 13, 2026. The suspension has been revoked for critical service lines including Gas Compression, Gas Dehydration, and various drilling rig services such as 1000 HP and 100 MT units. This allows the company to resume operations for these specific contracts, effectively mitigating a large portion of the operational risk introduced by the initial suspension. Management continues to contest the remaining suspension and expects a favorable resolution based on the merits of the case.
Key Highlights
Suspension revoked for core Gas Compression and Gas Dehydration services as of March 19, 2026.
Exemption granted for hiring services of 1000 HP Drilling Rigs and 100 MT Onshore Rigs.
Amendment clarifies that provisional suspension no longer applies to GCP, GDU, and DPDU hiring services.
Management maintains that the initial suspension was unwarranted and is pursuing a full resolution.
💼 Action for Investors
Investors should view this as a major relief as it restores the company's ability to execute key contracts; however, continue to monitor for the final resolution of the remaining legal/regulatory hurdles.
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Deep Industries Signs MOU with Advait Greenergy for Green Hydrogen Projects
Deep Industries Limited (DEEP) has entered into a strategic Memorandum of Understanding (MOU) with Advait Greenergy Private Limited (AGPL) to venture into the Green Hydrogen sector. The 2-year agreement focuses on jointly bidding for and executing tenders from major Indian PSUs including NTPC, SECI, IOC, and GAIL. This collaboration aims to leverage the technical and financial strengths of both companies to capture opportunities in the renewable energy space. While no upfront consideration was paid, the move signifies a significant strategic diversification for Deep Industries.
Key Highlights
MOU signed on March 13, 2026, with Advait Greenergy Private Limited for an initial period of 2 years.
Joint bidding strategy targeting Green Hydrogen projects from PSUs like NTPC, SECI, IOC, HPCL, BPCL, and GAIL.
Collaboration covers the entire project lifecycle from bid preparation and technical submission to final execution.
No upfront financial consideration involved; responsibilities and costs are allocated based on specific project scopes.
Strategic entry into the high-growth Green Hydrogen sector to diversify beyond traditional oil and gas services.
💼 Action for Investors
Investors should monitor the company's success in winning upcoming Green Hydrogen tenders as it will be the primary driver of value from this MOU. This is a positive long-term diversification play, though immediate revenue impact is not yet quantifiable.
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Deep Industries to Enter Green Energy Sector and Appoints New Independent Director
Deep Industries has approved a strategic expansion into the green energy business as a new vertical, amending its Memorandum of Association to facilitate this growth. The company also appointed Mr. Shalin Harshadbhai Patel, a Chartered Accountant with 19 years of experience, as an Independent Director for a five-year term ending March 2031. Furthermore, the board approved the sale of 1,500,000 10% Optionally Convertible Redeemable Preference Shares (OCRPS) of Raas Equipment Private Limited to a related party. These steps indicate a clear shift towards diversification and strengthening of the board's financial expertise.
Key Highlights
Approved addition of Green Energy as a new business vertical in the Company's MOA
Appointed Mr. Shalin Harshadbhai Patel as Independent Director for a 5-year term (2026-2031)
Authorized the sale of 1,500,000 10% OCRPS of Raas Equipment Private Limited to a related party
New director brings over 19 years of experience in corporate finance, valuations, and debt resolution
The strategic pivot into green energy aligns with broader market trends and ESG goals
💼 Action for Investors
Investors should view the entry into green energy as a positive long-term growth driver and monitor further disclosures regarding the related party transaction. The addition of a finance expert to the board is likely to enhance corporate governance and financial strategy.
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Deep Industries to Enter Green Energy Sector and Appoints New Independent Director
Deep Industries has approved a strategic expansion into the green energy sector by amending its Memorandum of Association to add a new business vertical. The board also appointed Mr. Shalin Harshadbhai Patel, a Chartered Accountant with 19 years of experience, as an Independent Director for a five-year term ending March 2031. Additionally, the company is divesting 15,00,000 10% Optionally Convertible Redeemable Preference Shares of Raas Equipment Private Limited to a related party. These moves indicate a strategic shift towards sustainable energy and a restructuring of its investment portfolio.
Key Highlights
Approved addition of Green Energy as a new business vertical in the Memorandum of Association.
Appointed Mr. Shalin Harshadbhai Patel as Independent Director for a 5-year term until March 2031.
Authorized the sale of 15,00,000 10% OCRPS of Raas Equipment Private Limited to a related party.
The new director brings over 19 years of experience in corporate finance, business valuations, and debt resolution.
💼 Action for Investors
Investors should monitor the company's capital allocation towards the new green energy vertical and the valuation details of the related party transaction. The strategic pivot suggests long-term growth potential in sustainable energy.
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Deep Industries to Enter Green Energy Sector and Appoints Shalin Patel as Independent Director
Deep Industries has announced a strategic pivot by adding green energy as a new business vertical, requiring an amendment to its Memorandum of Association. The company has appointed Mr. Shalin Patel, a Chartered Accountant with 19 years of experience in corporate finance, as an Independent Director for a five-year term. Additionally, the board approved the sale of 1,500,000 10% Optionally Convertible Redeemable Preference Shares (OCRPS) of Raas Equipment Private Limited to a related party. These developments signal a move towards diversification and a strengthening of the board's financial expertise.
Key Highlights
Approved the addition of Green Energy as a new business vertical in the Memorandum of Association.
Appointed Mr. Shalin Patel as Independent Director for a 5-year term from March 12, 2026, to March 11, 2031.
Authorized the sale of 1,500,000 10% OCRPS of Raas Equipment Private Limited to a related party.
Mr. Shalin Patel brings 19+ years of experience in corporate finance, business valuations, and debt resolution.
💼 Action for Investors
Investors should monitor the company's capital allocation plans for the new green energy vertical and look for further disclosures regarding the valuation of the preference share sale to the related party.
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Deep Industries to Enter Green Energy Sector; Board Approves Sale of 1.5 Million OCRPS
Deep Industries has approved a strategic expansion into the green energy sector by amending its Memorandum of Association to add a new business vertical. The board also cleared the sale of 1,500,000 10% Optionally Convertible Redeemable Preference Shares (OCRPS) of Raas Equipment Private Limited to a related party. To strengthen governance, Mr. Shalin Harshadbhai Patel, a professional with 19 years of experience in corporate finance, has been appointed as an Independent Director for five years. These developments signal a shift towards sustainable energy and portfolio optimization.
Key Highlights
Addition of Green Energy as a new business vertical in the company's Memorandum of Association.
Sale of 15,00,000 10% OCRPS of Raas Equipment Private Limited to a related party approved.
Appointment of Mr. Shalin Harshadbhai Patel (CA & CFA) as Independent Director for a 5-year term until March 2031.
The board meeting concluded within 30 minutes, approving all key strategic and management changes.
💼 Action for Investors
Investors should monitor the specific project announcements and capital expenditure plans for the new green energy vertical. The sale of preference shares to a related party should be evaluated for fair valuation once further disclosures are made.
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Deep Industries to Enter Green Energy Sector and Divest 1.5 Million Preference Shares
Deep Industries Limited has approved a strategic expansion into the green energy business by amending its Memorandum of Association. The board also approved the sale of 15,00,000 10% Optionally Convertible Redeemable Preference Shares (OCRPS) of Raas Equipment Private Limited to a related party. To strengthen governance, Mr. Shalin Harshadbhai Patel, a Chartered Accountant and CFA, has been appointed as an Independent Director for a five-year term. These steps indicate a shift towards sustainable energy and a restructuring of the company's investment portfolio.
Key Highlights
Approved addition of Green Energy as a new business vertical in the Main Object clause of the MOA
Authorized the sale of 15,00,000 10% OCRPS of Raas Equipment Private Limited to a related party
Appointed Mr. Shalin Harshadbhai Patel as an Independent Director for a 5-year term ending March 2031
The board meeting was conducted on March 12, 2026, between 03:30 PM and 04:00 PM
💼 Action for Investors
Investors should watch for further announcements regarding the specific scale and capital expenditure planned for the new green energy vertical. The divestment of preference shares to a related party should be monitored for valuation details to ensure it is at arm's length.
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Deep Industries Secures INR 148 Crore Order from Oil India Limited
Deep Industries Limited has received a Letter of Award from Oil India Limited for the hiring of a 1000 HP mobile drilling rig package. The contract is valued at approximately INR 148 crores and is scheduled to be executed over a period of four years. The operations will take place in the domestic regions of Assam and Arunachal Pradesh. This contract win strengthens the company's order book and provides significant revenue visibility for the medium term.
Key Highlights
Received a Letter of Award from Oil India Limited for a 1000 HP mobile drilling rig package.
Total estimated contract value is approximately INR 148 crores.
The contract duration is set for four years, ensuring long-term revenue flow.
Project execution will occur in the states of Assam and Arunachal Pradesh.
The award is part of the company's ordinary course of business in the oilfield services sector.
💼 Action for Investors
Investors should view this as a positive development that enhances the company's earnings visibility over the next four years. Monitor the company's ability to maintain operating margins during the execution phase of this domestic contract.
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Deep Industries Faces Provisional Suspension from ONGC for One Contract; ₹5-6 Cr Revenue Impact
Deep Industries has received a provisional suspension notice from ONGC regarding a specific contract for a 90 MT mobile drilling rig in Bokaro. The suspension follows a Force Majeure event involving sabotage and a police status quo order that halted operations. The company estimates a revenue impact of ₹5-6 Crores for Q4 FY 2025-26 but clarifies that all other ONGC contracts remain fully operational. Management is actively pursuing legal remedies, asserting that the suspension is legally untenable under contract provisions.
Key Highlights
Provisional suspension by ONGC for a 90 MT mobile drilling rig contract at CBM Asset, Bokaro.
Estimated revenue impact of approximately ₹5-6 Crores during Q4 of FY 2025-26.
Suspension triggered by violent sabotage and subsequent police status quo order preventing rig access.
All other existing ONGC contracts and ongoing business operations remain unaffected and intact.
Company is actively pursuing legal remedies to challenge the suspension based on Force Majeure clauses.
💼 Action for Investors
Investors should monitor the resolution of this legal dispute and ensure no further contracts are impacted, though the current financial hit is relatively contained.
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Deep Industries Faces Provisional Suspension of Business Dealings by ONGC
Deep Industries Limited has received an intimation from Oil and Natural Gas Corporation Limited (ONGC) regarding a provisional suspension of business dealings. The suspension is reportedly due to alleged non-performance in one specific Drilling Rig contract. The company has stated that it considers the suspension unwarranted and is initiating legal remedies, including arbitration, to challenge the decision. While the company maintains that its current operations and robust order book remain unaffected, this development poses a risk to future contract acquisitions from a major client.
Key Highlights
Provisional suspension of business dealings initiated by ONGC due to alleged non-performance.
The dispute is centered on a single Drilling Rig contract handled by the company.
Deep Industries is invoking arbitration and seeking legal remedies to overturn the suspension.
Management asserts that overall business operations and the existing order book remain robust and uninterrupted.
💼 Action for Investors
Investors should monitor the outcome of the arbitration process as ONGC is a significant client in the oil and gas services sector. Expect short-term volatility in the stock price until there is more clarity on the company's ability to bid for future ONGC projects.
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Deep Industries Q3 FY26 PAT Jumps 50% YoY to "71.3 Cr"; Order Book at "2,967 Cr"
Deep Industries reported a strong Q3 FY26 with revenue growing 43.1% YoY to "221.5 crores" and PAT increasing 49.8% to "71.3 crores". The company maintains a robust order book of "2,967 crores", providing multi-year revenue visibility, with a current bidding pipeline of approximately "800 crores". Operating margins remained healthy at 47.6%, driven by volume growth across onshore drilling and gas processing. Despite a minor gas leakage incident at the Rajahmundry field which was contained in 5 days, the management expects the PEC segment to scale to "150 crores" annually by FY28.
Key Highlights
Q3 FY26 Revenue increased 43.1% YoY to "221.5 crores" with a 47.6% EBITDA margin.
Net Profit for the quarter rose 49.8% YoY to "71.3 crores", while 9M PAT grew 59.7% to "204.3 crores".
Order book stands at a significant "2,967 crores" with an additional bidding pipeline of "800 crores".
Production Enhancement Contract (PEC) contributed "20 crores" this quarter, targeting "150 crores" annual revenue by FY28.
Management successfully contained a gas leakage incident at the Rajahmundry site within 5 days with no casualties.
💼 Action for Investors
Investors should view the strong execution and robust order book as a sign of long-term growth; monitor the ramp-up of the PEC segment for further margin expansion.
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Deep Industries Q3 FY26 PAT Jumps 50% YoY to ₹71.3 Cr; Order Book Reaches ₹2,967 Cr
Deep Industries reported a strong performance for Q3 FY26, with consolidated revenue growing 43.1% YoY to ₹221.5 crore and PAT increasing 49.8% to ₹71.3 crore. The company's 9M FY26 performance was equally robust, with PAT rising nearly 60% to ₹204.3 crore, supported by high EBITDA margins of 46.3%. The order book stands at a record ₹2,967 crore as of January 2026, providing multi-year revenue visibility. Strategic expansions into offshore services via Dolphin Offshore and the commencement of the ₹1,402 crore ONGC production enhancement contract remain key growth drivers.
Key Highlights
Consolidated Revenue for 9M FY26 grew by 57% YoY to ₹642.0 crore.
Net Profit (PAT) for Q3 FY26 rose 49.8% YoY to ₹71.3 crore with a healthy PAT margin of 30.8%.
Order book reached ₹2,967 crore as of Jan 2026, representing a 3-year CAGR of 40.14%.
Secured a new ₹108 crore contract from GAIL for gas compression facilities over 880 days.
The ₹1,402 crore ONGC Production Enhancement Contract is expected to generate majority revenue over the next 10 years.
💼 Action for Investors
The company shows strong growth momentum and high operational efficiency with a massive order book. Investors should maintain a positive outlook given the multi-year revenue visibility and low debt-to-equity ratio of 0.10.
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Deep Industries Q3 FY26 PAT Jumps 49.8% to ₹71.3 Cr; Order Book Robust at ₹2,967 Cr
Deep Industries reported a stellar Q3 FY26 with net profit surging 49.8% YoY to ₹71.3 Cr. Revenue from operations increased by 43.1% to ₹221.5 Cr, supported by strong execution in drilling and production enhancement services. The company's order book remains robust at ₹2,967 Cr, which is more than 4x its 9-month revenue, indicating strong future visibility. Profitability margins also improved, with EBITDA margins reaching 47.6% and PAT margins at 30.8%.
Key Highlights
Net Profit (PAT) for Q3 FY26 grew 49.8% YoY to ₹71.3 Cr.
Revenue from operations increased 43.1% YoY to ₹221.5 Cr for the quarter.
EBITDA margins expanded by 149 bps YoY to 47.6%, reaching ₹110.1 Cr.
Current order book stands at a significant ₹2,967 Cr, providing high revenue visibility.
9M FY26 performance remains strong with PAT up 59.7% YoY to ₹204.3 Cr.
💼 Action for Investors
The company's massive order book and expanding margins make it a strong growth candidate in the oilfield services sector. Investors should monitor the continued execution of the ONGC Production Enhancement Contract as a primary catalyst.
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Deep Industries Q3 FY26 Net Profit Jumps 55% YoY to ₹50.72 Cr; Revenue Up 49%
Deep Industries reported a robust Q3 FY26 with standalone revenue from operations increasing 49.4% YoY to ₹179.36 crore. Net profit for the quarter surged 55% YoY to ₹50.72 crore, while EPS rose to ₹7.92 from ₹5.12. The company also completed the acquisition of a 70% stake in Deep Natural Resources Limited during the period. For the nine-month period ending December 2025, net profit grew by 59% YoY, reflecting strong operational momentum in the onshore oil and gas services segment.
Key Highlights
Standalone Revenue from operations grew 49.4% YoY to ₹17,935.73 lakhs.
Net Profit for the quarter increased 55% YoY to ₹5,072.25 lakhs from ₹3,272.49 lakhs.
9M FY26 Net Profit rose 59% YoY to ₹14,771.21 lakhs compared to ₹9,289.81 lakhs in 9M FY25.
Acquired 70% stake (3,50,000 shares) in Deep Natural Resources Limited at a premium of ₹31.25 per share.
Earnings Per Share (EPS) for Q3 FY26 improved significantly to ₹7.92 from ₹5.12 YoY.
💼 Action for Investors
The strong earnings growth and strategic acquisition of a majority stake in a new subsidiary indicate healthy business expansion. Investors should maintain a positive outlook on the stock given the consistent margin improvement and top-line growth.
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Deep Industries Q3 FY26 Net Profit Surges 55% YoY to ₹50.72 Crore
Deep Industries reported a robust performance for Q3 FY26, with standalone revenue from operations growing 49% YoY to ₹179.36 crore. Net profit for the quarter saw a significant jump of 55% YoY, reaching ₹50.72 crore compared to ₹32.72 crore in the previous year. For the nine-month period ended December 2025, the company's standalone profit reached ₹147.71 crore, already surpassing the full-year FY25 profit of ₹130.34 crore. Additionally, the company expanded its footprint by acquiring a 70% stake in Deep Natural Resources Limited during the quarter.
Key Highlights
Standalone Revenue from operations rose 49.4% YoY to ₹17,935.73 lakhs in Q3 FY26.
Net Profit increased by 55% YoY to ₹5,072.25 lakhs for the quarter ended December 31, 2025.
Basic EPS improved significantly to ₹7.92 from ₹5.12 in the corresponding quarter of the previous year.
Nine-month standalone profit of ₹14,771.21 lakhs has already exceeded the total FY25 annual profit.
Acquired a 70% controlling stake in Deep Natural Resources Limited (3,50,000 shares) at a premium of ₹31.25 per share.
💼 Action for Investors
The company demonstrates exceptional growth and operational efficiency, with 9-month profits already exceeding the previous full year. Investors should view this as a strong growth signal in the oil and gas services sector.
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Deep Industries Bags INR 108 Crore Order from GAIL (India) Limited
Deep Industries Limited has secured a significant contract from GAIL (India) Limited for the hiring of a compression facility at the RT-USAR Plant. The total estimated value of the award is approximately INR 108 crores, providing strong revenue visibility for the company. The contract is scheduled to be executed over a period of 880 days. This domestic order reinforces the company's position as a key service provider to major Indian PSUs in the energy sector.
Key Highlights
Contract awarded by GAIL (India) Limited for compression facility services
Total estimated value of the contract is approximately INR 108 crores
Execution timeline set for 880 days (approximately 2.4 years)
The project is located at the RT-USAR Plant and was won in the ordinary course of business
💼 Action for Investors
Investors should view this as a positive development that strengthens the order book and provides medium-term revenue visibility. Monitor the company's execution capabilities and margin maintenance on this contract.
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Deep Industries Successfully Contains Gas Leak at Well Mori #5; No Casualties Reported
Deep Industries has successfully contained a gas leak at Well Mori #5 in Andhra Pradesh, which occurred during workover operations for ONGC. The company confirmed that the situation is now under total control as of January 10, 2026, following the initial incident reported on January 5. Crucially, there were no reported injuries or loss of life resulting from the leak. This resolution mitigates potential environmental and legal liabilities that could have arisen from a prolonged incident.
Key Highlights
Gas leak at Well Mori #5 in Andhra Pradesh has been fully contained and stopped.
The incident occurred during workover operations for ONGC's production enhancement activities.
Zero injuries or loss of life reported following the January 5, 2026 incident.
Situation brought under total control within 5 days of the initial report.
💼 Action for Investors
The quick resolution of this operational hazard is a positive sign of the company's crisis management capabilities. Investors should remain invested as the primary risk from this specific incident has been neutralized.