Small-cap stock engaged in the business of Oil and Gas field services specializing in providing air and gas compression services, drilling and workover services jumped 3 percent in the day’s trade upon receiving a work order worth Rs. 56 Crores from ONGC.
With a market capitalization of Rs. 1,720 Crores, the shares of Deep Industries Limited were trading at Rs. 269.20 per equity share, up 2.69 percent from its previous day’s close price of Rs. 262.15.
Deep Industries Limited has received a new work order from Oil and Natural Gas Corporation Limited, Kakinada, for the Hiring of DPDU (GDU) for processing gas for 10 months for a consideration of ~Rs. 56 Crores.
Deep Industries Limited is engaged in the business of Oil and Gas field services. It specializes in providing air and gas compression services, drilling and workover services, gas dehydration services, Integrated project management services, and many more.
With its diversified oil & gas services portfolio, Deep Industries Limited covers more than 70 percent of Post Exploration Services in the entire value chain of the Oil & Gas Services Industry.
As of Q4FY24, Deep Industries Limited has a robust order book of Rs. 1,210 Crores and has a strong clientele base with well-known players like ONGC, Larsen & Toubro, Reliance Industries, British Petroleum, Vedanta and many others.
Its Revenue from operations grew by 15.66 percent from Rs. 103.46 Crores in Q4FY23 to Rs. 119.66 Crores in Q4FY24, accompanied by profits of Rs. 72.26 Crores to Rs. 36.68 Crores.
In terms of Return Ratios, it has reported a return on equity (ROE) of 8.71 percent, a return on capital employed (ROCE) of 10.2 percent, and a debt-to-equity ratio of 0.11.
Written by: Bharath K.S
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