The share price of this firm engaged in the business of Oil and Gas field services surged around 6 percent to an intraday high of Rs 336.25 per share on Monday after securing an order worth Rs 82 crores from Oil and Natural Gas Corporation Limited.
With a market capitalization of Rs 2,069.76 crores, the shares of Deep Industries Limited surged by 1.79 percent at 11:02 am trading at Rs 323.40 apiece on Monday’s Morning market hours. The shares of this company generated an overall return of 46 percent over the past year and 19 percent over the past 6 months.
What happened: According to Deep Industries Limited’s stock exchange filings, the company has announced that they received an order worth Rs 82 crores from Oil and Natural Gas Corporation Limited for both Charter Hiring Of 01 Number Of 100 metric ton (MT) Workover Rig for Tripura and 150 MT Workover Rig for Rajahmundry for a time period 3 Years each.
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Financials: Reviewing the financials of Deep Industries Limited on a year-on-year basis, the revenues rose by 25 percent from Rs 341 crores in FY23 to Rs 427 crores in FY24. In the same time frame, the net profits witnessed no changes being at Rs 125 crores for the same period.
Ratios: In terms of margin ratios for the year 2024, Deep Industries Limited has reported a gross profit margin of 45.67 percent and a net profit margin of 29.31 percent. For the same time frame, the EPS of the firm stood at Rs 19.56.
EBITDA and cash flow from operations: The EBITDA of Deep Limited stood at Rs 195 crores in FY24 demonstrating a 38 percent YoY growth. The cash flow from operations rose by 119 percent from Rs 82 crores in FY23 to Rs 180 crores in FY24.
Orderbook: The Order book of Deep Industries Limited rose by 12.2 percent from Rs 1,078 crores in Q4FY23 to Rs 1,210 crores in Q4FY24.
Subsidiary: Deep Industries Limited’s subsidiary Deep Onshore Drilling Services Private Limited has entered into A joint venture with Euro Gas Systems to improve the Euro gas system’s technical expertise and to better support its gas field services.
Client base: Deep Industries Limited’s client base includes top-known firms like ONGC, ESSAR, Reliance, Oil India Limited, Selan Exploration, etc.
Shareholding Pattern: As of March 2024, Deep Industries Limited shareholding pattern stood at 63.49 percent for promoters, 34.69 percent for the public, and 1.82 percent for foreign institutional investors.
About the Company: Incorporated in 1991, Deep Industries Limited is in the business of Oil and Gas field services. The company specializes in providing Air & Gas Compression Services, Drilling and Workover Services, Gas Dehydration Services, etc.
Written By Zahal
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