The shares of this small cap stock in the business of offering Oil and Gas field services is in focus in the day’s trade after it secured an order from Oil India which is worth Rs. 45.33 Crores.
With market capitalization of Rs. 2,899 cr, the shares of Deep Industries Ltd are currently trading at Rs. 453.00 per share from its previous closing of 450.90.
Deep Industries Limited has announced the receipt of a significant Letter of Award (LoA) from Oil India Limited for the hiring of one Mobile Workover Rig Package. The contract, valued at approximately Rs. 45.33 cr, is set to run for a duration of three years and will be executed in the state of Rajasthan.
Oil India Limited is contracting Deep Industries to provide and operate a mobile workover rig for oil and gas operations. A workover rig is a special type of rig used to maintain, repair, or enhance existing oil or gas wells.
The company specializes in providing Air & Gas Compression Services, Drilling and Workover Services, Gas Dehydration Services, etc.. Their expertise spans natural gas processing, project management, production enhancement, and offshore services. ONGC, Gail, CPCL, Reliance Industries Ltd, GSPL, Gujarat Gas are some of the long-standing loyal customer-base companies.
The order book of Deep Industries has shown strong growth over the last three years, rising from Rs. 632 cr in FY22 to Rs. 2,960 cr currently. This reflects a robust 3-year CAGR of 67.3%, highlighting consistent and accelerating order flow.
Financials of the company:
The company’s sales have increased from ₹427 crore in March FY24 to ₹576 crore in FY25, reflecting a growth of 34.93%.Operating profits also rose from ₹167 crore to ₹231 crore in FY25.The company is anticipated to deliver a strong quarterly performance, with a 3-year compounded sales growth rate of 21%.
Written by Manideep Appana
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