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Deep Industries Limited (DEEPINDS)

₹753.35 +0.79% last close, 16 Oct

📊 NSE: DEEPINDS 🏢 Oil Drilling / Allied Services 📢 Latest filing: 07 Oct 2026 📝 Analysis written: 13 Dec 2025

Latest quarterly results (Q1 FY27)

In its latest reported quarter, Q1 FY27, Deep Industries' revenue was ₹279 Cr (+39.8% year on year, +12.1% on the previous quarter), and net profit ₹89.1 Cr (+44.5% year on year); the operating margin was 38.8%.

Q1 FY27 (₹ Cr)	Value	YoY vs Q1 FY26	QoQ
Revenue	₹279	+39.8%	+12.1%
Operating profit	₹108	+32.5%	+32.0%
Net profit	₹89.1	+44.5%	from loss
EPS (₹)	13.34	+45.2%	from loss
Operating margin	38.8%	—	—

Full quarterly financials → Results calendar →

DEEPINDS delivery percentage

NSE end-of-day data for Fri, 16 Oct 2026

On Fri, 16 Oct 2026, 47.4% of the DEEPINDS shares traded on NSE were taken to delivery, against the stock's own 20-session average of 41.23%. Delivery was unusually high while the price barely moved (+0.79%). Volume was 0.4 times its average, well below normal.

47.4%Delivery, 16 Oct

41.23%Own 20-session average

0.4×Volume vs its average

₹753.35NSE close · +0.79%

Delivery in the last 5 sessions: 44.8% · 40.3% · 39.8% · 60.0% · 47.4%

Delivery across the market →

A description of what the exchange published, not a recommendation. Names such as "accumulation" or "long buildup" label a pattern in the numbers. How delivery is analysed

📢 Recent Corporate Announcements

Deep Industries Submits Reg 74(5) Demat Compliance Certificate for Q2 FY27

🟡 NEUTRAL ⭐ 2/10

ROUTINE 📅 07 Oct 2026, 05:09 PM

Deep Industries Limited has submitted its quarterly compliance certificate under Regulation 74(5) of the SEBI (Depositories and Participants) Regulations, 2018 for the quarter ended September 30, 2026. The certificate from RTA MUFG Intime India confirms that all securities received for dematerialisation were processed and confirmed within prescribed timelines. This is a purely procedural regulatory filing with no financial or operational impact.

Compliance certificate submitted under Regulation 74(5) of SEBI Regulations, 2018
Covers the quarterly period ended September 30, 2026
Issued by RTA MUFG Intime India Private Limited on October 03, 2026
Confirms mutilation, cancellation, and substitution of records within prescribed timelines

💡 No action required. Investors should track upcoming board meeting intimations for the declaration of Q2 FY27 financial results.

Deep Industries Wins ₹88.15 Cr Gas Compression Order from ONGC

🟢 POSITIVE ⭐ 6/10

EXPANSION 📅 08 Sep 2026, 01:40 PM

Deep Industries Limited has received a Letter of Award (LoA) from Oil and Natural Gas Corporation Limited (ONGC) for gas compression services at Balol GGS-1, Mehsana asset. The total estimated order value is approximately ₹88.15 crores. The contract spans a duration of 3 years. This order represents about 9.1% of the company's TTM revenue of ₹970 crores, reinforcing its existing order pipeline with its primary client.

Received Letter of Award valued at approximately INR 88.15 crores from ONGC
Contract is for hiring services of Gas Compression at Balol GGS-1, Mehsana asset
Tenure of the contract is 3 years
Contract value represents ~9.1% of Deep Industries' TTM revenue of ₹970 crores

💡 Track the mobilization timeline for the Mehsana asset and revenue recognition from this contract in upcoming quarterly earnings.

Deep Industries Shareholders Approve Rs 2.50 Dividend, ESOP Scheme 2026 at 20th AGM

🟡 NEUTRAL ⭐ 3/10

ROUTINE 📅 02 Sep 2026, 05:51 PM

Deep Industries Limited submitted the scrutinizer report and voting results for its 20th Annual General Meeting held on September 1, 2026. Shareholders approved all 8 resolutions, including the adoption of FY26 financial statements and the declaration of a final dividend of Rs 2.50 per equity share. The meeting also approved the new 'Deep Industries Limited Employee Stock Option Scheme 2026' and specified material related party transactions.

Approved final dividend of Rs 2.50 per equity share for FY25-26 with near 100% voting support.
Shareholders sanctioned the rollout of the 'Deep Industries Limited Employee Stock Option Scheme 2026'.
Overall voter turnout stood at 66.71% with 42,693,520 votes polled across major special resolutions.
Material related-party transaction for Mr. Shail Manoj Savla as President passed with 99.19% total votes, despite 96.96% institutional votes against.

💡 Track the dividend credit date and watch for subsequent exchange filings detailing the quantum of options granted and dilution parameters under the ESOP Scheme 2026.

Deep Industries Concludes 20th AGM; Considers ₹2.50/Share Final Dividend and New ESOP Scheme

🟡 NEUTRAL ⭐ 3/10

ROUTINE 📅 01 Sep 2026, 06:05 PM

Deep Industries Limited conducted its 20th Annual General Meeting on September 1, 2026. Shareholders considered key resolutions including the adoption of FY26 audited accounts and the declaration of a final dividend of ₹2.50 per equity share for FY25-26. Other items tabled included approvals for material related-party transactions, the adoption of the 'DIL ESOP Scheme 2026', and amendments to the Articles of Association. Formal scrutinizer voting results under Regulation 44(3) will be submitted separately.

Conducted 20th Annual General Meeting on September 01, 2026 via video conferencing
Tabled resolution to declare a final dividend of ₹ 2.50 per equity share for FY 2025-26
Proposed approval of 'Deep Industries Limited Employee Stock Option Scheme 2026'
Sought shareholder approval for material related party transactions and AOA alterations

💡 Track the formal disclosure of voting results and scrutinizer report on the stock exchanges to verify resolution approvals, alongside the dividend record and payment dates.

Deep Industries Releases Corporate Presentation; Details 20-Rig Fleet & Offshore Growth Vectors

🟡 NEUTRAL ⭐ 3/10

ROUTINE 📅 31 Aug 2026, 02:12 PM

Deep Industries Limited submitted an updated corporate presentation outlining its operational capabilities across onshore and offshore oil and gas field services. The company operates a fleet of 20 onshore rigs (6 drilling and 14 workover) and over 80 gas processing units and compressors, covering ~70% of the post-exploration value chain. Management highlighted ongoing opportunities in domestic E&P licensing rounds (OALP-X, DSF-IV) and plans to explore higher-capacity drilling rigs while expanding Dolphin Offshore internationally.

Operates 20 onshore rigs, comprising 6 drilling rigs and 14 workover rigs
Owns 80+ gas processing units and natural gas compressors across operations
Covers ~70% of the post-exploration oil and gas services value chain
Holds a 75% controlling stake in Dolphin Offshore Enterprises India Limited acquired via IBC

💡 Track execution timelines on the order book and monitor asset deployment and charter wins for Dolphin Offshore in upcoming quarterly filings.

Deep Industries to Attend Phillip Capital Investor Conference on August 26, 2026

🟡 NEUTRAL ⭐ 2/10

ROUTINE 📅 22 Aug 2026, 11:47 AM

Deep Industries Limited has informed the exchanges regarding its scheduled participation in the 'Market Marvel' investor conference organized by Phillip Capital India Private Limited. The meetings will be held physically in Ahmedabad on Wednesday, August 26, 2026, in a One-on-One/Group format. The company noted that no unpublished price sensitive information (UPSI) will be shared during the interaction.

Conference date scheduled for Wednesday, August 26, 2026
Organized by Phillip Capital India Private Limited (Private Client Group)
Format is physical One on One/Group meeting in Ahmedabad
Company confirmed no unpublished price sensitive information (UPSI) will be shared

💡 Track if the company uploads an investor presentation or post-meet disclosures following the conference.

Deep Industries to Participate in 2 Investor Conferences on August 13-14, 2026

🟡 NEUTRAL ⭐ 3/10

ROUTINE 📅 10 Aug 2026, 04:46 PM

Deep Industries Limited has scheduled participation in two institutional investor conferences in Mumbai. The company will attend the EMKAY Confluence 2026 on August 13 and the Equirus Annual India Conference on August 14, 2026. These meetings will be conducted in a physical format and may include one-on-one or group interactions. No unpublished price sensitive information is intended to be shared during these sessions.

Participation in 2 institutional investor conferences in Mumbai.
EMKAY Confluence 2026 scheduled for August 13, 2026.
Equirus Annual India Conference scheduled for August 14, 2026.
Company is currently managing a significant order book of ₹3,050 Cr as of June 2025.
Management targeting a growth rate of 35-38% for the upcoming period.

💡 Monitor the company's website or exchange filings for any investor presentations or transcripts released following these conferences to gauge management's outlook on order book execution.

Deep Industries Schedules 20th AGM for Sept 1, 2026; Sets Aug 25 as Cut-off Date

🟡 NEUTRAL ⭐ 3/10

ROUTINE 📅 07 Aug 2026, 01:09 PM

Deep Industries Limited has scheduled its 20th Annual General Meeting (AGM) for September 1, 2026, to be conducted via video conferencing. The company has fixed August 25, 2026, as the cut-off date for determining shareholder eligibility for e-voting. The register of members will remain closed from August 26 to September 1, 2026. This filing accompanies the release of the FY 2025-26 Annual Report, following a year where the company achieved a TTM revenue of ₹891 Cr and a PAT of ₹197 Cr.

20th Annual General Meeting (AGM) to be held on September 1, 2026, at 11:00 a.m. IST
Cut-off date for e-voting and AGM attendance eligibility is August 25, 2026
Book closure period set from August 26, 2026, to September 1, 2026
Remote e-voting window opens August 28, 2026 (9:00 AM) and closes August 31, 2026 (5:00 PM)
Company maintains a significant order book of ₹3,050 Cr as of June 2025

💡 Investors should review the FY26 Annual Report for management's detailed outlook on the integration of Dolphin Offshore and the execution timeline for the ₹3,050 Cr order book.

₹2.50 Final Dividend and AGM Notice for Deep Industries; RPT and ESOS Approvals Sought

🟡 NEUTRAL ⭐ 5/10

DIVIDEND 📅 07 Aug 2026, 01:05 PM

Deep Industries has scheduled its 20th Annual General Meeting (AGM) for September 1, 2026, to approve a final dividend of ₹2.50 per share for FY26. Key agenda items include the re-appointment of the CFO, approval of material related party transactions (RPTs), and a new employee stock option scheme. The company currently operates with a robust order book of ₹3,050 Cr, which is approximately 3.4x its TTM revenue of ₹891 Cr. Shareholders as of the August 25, 2026 cut-off date will be eligible for voting and dividend entitlements.

Proposed final dividend of ₹2.50 per equity share (50% of face value ₹5) for FY 2025-26
AGM scheduled for September 1, 2026, with a cut-off date of August 25, 2026, for dividend eligibility
Seeking shareholder approval for Material Related Party Transactions and a new Employee Stock Option Scheme
Order book remains strong at ₹3,050 Cr as of June 2025, providing high revenue visibility
CFO Rohan Vasantkumar Shah, with 20+ years experience, is up for re-appointment by rotation

💡 Investors should track the approval of the Employee Stock Option Scheme and Related Party Transactions at the AGM to ensure alignment with corporate governance standards.

Deep Industries Schedules One-on-One Analyst Site Visit for August 7, 2026

🟡 NEUTRAL ⭐ 2/10

ROUTINE 📅 04 Aug 2026, 09:00 PM

Deep Industries has announced a physical site visit for an analyst/investor scheduled for August 7, 2026. This routine disclosure comes as the company manages a significant order book of ––3,050 cr (as of June 2025), which is approximately 3.4x its TTM revenue of ––891 cr. The company clarified that no unpublished price-sensitive information will be shared during this one-on-one meeting. Such visits are standard for institutional due diligence in asset-heavy industries like oil drilling services.

One-on-one physical site visit scheduled for August 7, 2026
Current order book stands at ––3,050 cr as of June 30, 2025
TTM revenue reported at ––891 cr with a 39.9% operating margin
Promoter holding remains stable at 63.49% as of March 2026

💡 Investors should watch for any subsequent investor presentations or transcripts uploaded to the exchange that may provide qualitative updates on the execution of the current order book.

Rs 3,047 Cr Order Book: Deep Industries Targets 25%+ Growth and Rs 800 Cr Execution in 9 Months

🟢 POSITIVE ⭐ 7/10

EARNINGS 📅 03 Aug 2026, 05:13 PM

Deep Industries (DEEPINDS) has reported a robust order book of Rs 3,047 Cr, which is approximately 3.4x its TTM revenue of Rs 891 Cr, providing high revenue visibility. Management expects to execute Rs 800 Cr of this order book within the next 9 months of FY27. The company is guiding for consolidated revenue growth of over 25%, supported by 18-20% growth in the standalone business and the scaling of Dolphin Offshore. A key focus is the Production Enhancement Contract (PEC), where they aim to increase production to 2.5-3 lakh cubic meters per day by FY28.

Current outstanding order book stands at Rs 3,047 Cr as of July 2026, offering multi-year visibility.
Management targets execution of Rs 800 Cr from the existing order book over the next 9 months.
Standalone revenue growth projected at 18-20% for FY27, driven by 4-5 new gas compression and processing contracts starting in Q2.
PEC segment targeting production of 2.5-3 lakh cubic meters per day by FY28, significantly above the 1.44 lakh baseline.
Maintains a dominant 85% market share in India's outsourced gas compression market with a fleet of 80+ units.

💡 Investors should monitor the mobilization and commencement of the 4-5 new contracts in Q2 FY27 to verify the guided 18-20% standalone growth. Additionally, track the margin profile as the company scales its higher-value Integrated Project Management and PEC services.

Deep Industries Releases Audio Recording of Q1 FY27 Earnings Call

🟡 NEUTRAL ⭐ 2/10

ROUTINE 📅 29 Jul 2026, 03:24 PM

Deep Industries has published the audio recording of its earnings call held on July 29, 2026, regarding the financial performance for the quarter ended June 30, 2026. This follows a period where the company reported TTM revenue of ₹891 Cr and a robust operating margin of 39.9%. Investors should look for management commentary on the execution of the ₹3,050 Cr order book, which is approximately 3.4x its TTM revenue. The company continues to target a 35-38% growth rate through new rig deployments and the scaling of Dolphin Offshore.

Earnings call held on July 29, 2026, to discuss Q1 FY27 results and future outlook.
Order book stands at ₹3,050 Cr as of the latest major update, representing 3.42x TTM revenue.
Company targeting a growth rate of 35-38% driven by integrated gas processing and rig services.
TTM Operating Profit Margin (OPM) maintained at a high level of 39.9%.
Dolphin Offshore unit targeting ₹100 Cr scaling as part of the broader growth strategy.

💡 Investors should review the recording to understand the timeline for the ₹3,050 Cr order book execution and any updates on the advanced negotiations for additional assets in the Dolphin Offshore unit.

Deep Industries Reports Rs 2,987 Cr Order Book in Q1 FY27 Investor Presentation

🟡 NEUTRAL ⭐ 4/10

ROUTINE 📅 28 Jul 2026, 06:26 PM

Deep Industries Limited released its Q1 FY27 investor presentation, highlighting a closing order book of Rs 2,987 Cr as of June 30, 2026. This order book provides significant revenue visibility, representing approximately 3.35x the TTM revenue of Rs 891 Cr. During the quarter, the company executed orders worth Rs 51 Cr and added new orders totaling Rs 31 Cr. Key growth pillars include a 15-year Production Enhancement Contract with ONGC valued at Rs 1,402 Cr and the commencement of revenue generation from the Prabha-DP2 barge under its subsidiary, Dolphin Offshore.

Closing running order book stood at Rs 2,987 Cr as of June 30, 2026, after executing Rs 51 Cr in Q1.
Maintains a long-term Production Enhancement Contract with ONGC valued at Rs 1,402 Cr over 15 years.
Asset base comprises 20 onshore rigs (6 drilling, 14 workover) and over 80 gas processing units.
Subsidiary Dolphin Offshore's DP2 accommodation barge has successfully commenced revenue generation.
Company targets a growth rate of 35-38% driven by new rig contributions and Dolphin Offshore scaling.

💡 Investors should monitor the quarterly execution rate of the Rs 2,987 Cr order book and the margin profile of the newly operational offshore services segment.

44.5% PAT Growth: Deep Industries Reports Record Q1 FY27 Revenue of ₹279 Cr

🟢 POSITIVE ⭐ 8/10

EARNINGS 📅 28 Jul 2026, 02:19 PM

Deep Industries reported a strong start to FY27 with an all-time high quarterly revenue of ₹278.92 Cr, a 39.8% YoY increase. Profitability rebounded significantly to ₹89.14 Cr, recovering from a loss of ₹7.22 Cr in the preceding quarter (Q4 FY26). The company maintained robust EBITDA margins at 43.56%, supported by the execution of its large order book and new contracts in gas compression. With an order book of ₹3,050 Cr (as of last disclosure), the company has revenue visibility of approximately 3.4x its TTM revenue.

Operating revenue grew 39.81% YoY to ₹278.92 Cr from ₹199.50 Cr.
PAT increased 44.48% YoY to ₹89.14 Cr, representing a significant recovery from the ₹7.22 Cr loss in Q4 FY26.
EBITDA for the quarter stood at ₹131.83 Cr with a healthy margin of 43.56%.
EPS for the quarter rose to ₹13.34 from ₹9.19 in the corresponding quarter last year.
Order book remains strong at ₹3,050 Cr, providing high long-term revenue visibility.

💡 Monitor the execution pace of the ₹3,050 Cr order book and the successful integration of Dolphin Offshore assets. Investors should also track crude oil price trends as they influence day rates for rig services.

Deep Industries Q1 PAT Jumps 47% YoY to ₹91 Cr; Board Approves 15 Lakh ESOPs

🟢 POSITIVE ⭐ 7/10

EARNINGS 📅 28 Jul 2026, 01:57 PM

Deep Industries reported a strong performance for Q1 FY27, with consolidated revenue growing 34% YoY to ₹267.49 Cr. Net profit for the quarter rose 47.5% YoY to ₹91.00 Cr, driven by operational scaling. The board approved the 'DIL ESOP 2026' scheme involving 15,00,000 options to retain key talent. Additionally, the company fixed August 21, 2026, as the record date for the final dividend of FY 2025-26.

Consolidated Revenue for Q1 FY27 increased to ₹267.49 Cr from ₹199.50 Cr in Q1 FY26.
Net Profit (PAT) grew significantly to ₹91.00 Cr, up from ₹61.70 Cr in the same period last year.
Approved ESOP 2026 scheme covers 15,00,000 equity shares, representing approximately 2.1% of the current equity base.
Fixed August 21, 2026, as the Record Date for the final dividend payment for FY 2025-26.
Appointed Mr. Rajeev Kumar Sinha, an IIT Dhanbad alumnus with 30+ years of experience, as Chief Operating Officer effective August 1, 2026.

💡 Investors should monitor the conversion of the ₹3,050 Cr order book into revenue and the operational integration of the Dolphin Offshore unit, which is a key growth driver.

View All DEEPINDS Announcements on Live Market Tracking →

💰 Financial Performance

Revenue Growth by Segment

The company expects a consolidated revenue growth of 35% to 38% YoY for FY27, driven by Production Enhancement Contracts (PEC) and new rig additions. Dolphin Offshore is targeted to contribute INR 100 Cr to the top line in FY26, with further growth expected as new assets are added.

Geographic Revenue Split

Operations are primarily concentrated in India, with active deployments in the Rajahmundry asset, Rajasthan, Assam, and Arunachal Pradesh hydrocarbon basins.

Profitability Margins

Consolidated EBITDA margins have remained stable between 43% and 45%. Standalone margins (excluding other income) were approximately 37% over the last three quarters, with management targeting an improvement to 40% as PEC volumes increase.

EBITDA Margin

Consolidated EBITDA margin is currently 43-45%, with guidance suggesting an upward trajectory beyond 45% in coming quarters due to the deployment of higher-margin new assets.

Capital Expenditure

The company is aggressively adding new assets to its fleet to service running contracts. Long-term bank facilities were enhanced from INR 138.62 Cr to INR 205.69 Cr to support this expansion and asset deployment.

Credit Rating & Borrowing

CARE Ratings upgraded the long-term rating to CARE A+; Stable (from CARE A; Positive) in September 2024. Short-term facilities are rated CARE A1.

⚙️ Operational Drivers

Raw Materials

As a service provider, primary operational costs are driven by specialized equipment: Gas Compression Rigs (15-20% of costs), Workover Rigs, and Gas Dehydration units. Consumables and spares for these assets represent the primary material cost.

Import Sources

Equipment and specialized spares are sourced globally and domestically, with significant operations and asset deployment across Gujarat, Rajasthan, and North-Eastern states like Assam.

Key Suppliers

Not explicitly named, but procurement involves global oilfield equipment manufacturers and domestic engineering firms for rig components.

Capacity Expansion

Current order book stands at INR 3,050 Cr as of June 30, 2025, a significant increase from INR 1,246 Cr in June 2024. Expansion includes the takeover of the Rajahmundry PEC asset and new workover rig deployments for Oil India.

Raw Material Costs

Direct operating expenses are linked to asset maintenance and mobilization. Management aims to improve standalone margins from 37% to 40% by increasing the volume of production enhancement projects.

Manufacturing Efficiency

Efficiency is measured by the 'efficient deployment of large asset base' and maintaining safety standards across all sites to prevent operational downtime.

Logistics & Distribution

Distribution costs relate to the mobilization of heavy rigs across difficult terrains in Rajasthan and the North-East; specific INR values are not disclosed.

📈 Strategic Growth

Expected Growth Rate

35-38%

Growth Strategy

Growth will be achieved through full-year revenue contributions from newly added rigs, the scaling of Dolphin Offshore (targeting INR 100 Cr), and the execution of the INR 3,050 Cr order book. The company is also shifting toward high-value Production Enhancement Contracts (PEC) and integrated gas processing facilities.

Products & Services

Gas compression services, workover rigs, drilling rigs, gas dehydration services, production enhancement contracts, and integrated gas processing facilities.

Brand Portfolio

Deep Industries Limited, Dolphin Offshore.

New Products/Services

Expansion into integrated gas processing facilities and unconventional resource development; these are expected to contribute to the targeted 35-38% growth.

Market Expansion

Deepening footprint in key Indian hydrocarbon basins including Rajasthan, Assam, and Arunachal Pradesh.

Market Share & Ranking

Positioned as a key integrated service provider in India's oil and gas sector; specific market share percentage not disclosed.

Strategic Alliances

The company operates through subsidiaries and group companies, including the recently integrated Dolphin Offshore business.

🌍 External Factors

Industry Trends

The industry is seeing a shift toward production enhancement and integrated service models. India's oil and gas sector is witnessing renewed momentum due to government pushes for domestic production, benefiting integrated providers like Deep Industries.

Competitive Landscape

Operates in a competitive environment for rig services, contending with both domestic and international service providers for PSU tenders.

Competitive Moat

Moat is built on a large, specialized asset base and a long-standing track record with major PSUs like ONGC. This is sustainable due to high entry barriers (capital intensive) and the technical expertise required for gas compression and PEC.

Macro Economic Sensitivity

Highly sensitive to domestic oil and gas exploration policies and the government's push for energy security, which drives PSU spending.

Consumer Behavior

Demand is driven by industrial energy needs and government policy rather than individual consumer behavior.

Geopolitical Risks

Susceptible to global crude oil price fluctuations which dictate the demand and day rates for exploration and production services.

⚖️ Regulatory & Governance

Industry Regulations

Operations are governed by the Companies Act 2013 and technical standards set by the Directorate General of Hydrocarbons (DGH) and client-specific safety protocols (e.g., ONGC standards).

Environmental Compliance

The company must adhere to stringent safety and environmental norms inherent in oil and gas exploration; specific ESG costs are not disclosed.

Taxation Policy Impact

Current tax liabilities (net) increased significantly to INR 16.59 Cr in March 2025 from INR 3.41 Cr in March 2024.

Legal Contingencies

The 2025 Audit Report issued a clean opinion on standalone financial statements and internal controls; no specific high-value pending litigation amounts were disclosed in the provided text.

⚠️ Risk Analysis

Key Uncertainties

The primary uncertainty is the re-awarding of maturing contracts, which is inherent in the oil and gas service industry and could impact revenue by 20-30% if major contracts are lost.