Deep Industries Stock Sees 1180% Surge in 5 Years, to Remain in Focus Following ONGC Order

Deep Industries Secures ₹59 Crore Order from ONGC, Shares Expected to Attract Investor Interest

Deep Industries, a prominent player in the oil and gas sector, is poised to attract significant investor attention in Tuesday's trade following the receipt of a fresh order from Oil and Natural Gas Corporation (ONGC). In a regulatory filing on Monday, the company announced that it had secured a Letter of Award from ONGC for the hiring of services for natural gas compressors, gas dehydration, and HC dew-point depression at ONGC's Malleswaram field under the Rajahmundry Asset for a period of three years. The contract is valued at ₹59 crore.

Notably, the company has assured investors that neither the promoter nor any of the promoter group companies have any interest in the entity that awarded the order, thereby ruling out any potential related-party transactions. This latest order win marks Deep Industries' second major contract, following a ₹148 crore deal secured from Oil India in February for the hiring of a 1,000 HP mobile drilling rig package in Assam and Arunachal Pradesh.

In a separate development, Deep Industries entered into a Memorandum of Understanding (MoU) with Advait Greenergy Private Limited in mid-March to establish a framework for collaboration between the two companies. The MoU aims to facilitate joint participation in green hydrogen tenders floated by NTPC, SECI, IOC, HPCL, BPCL, GAIL, and other PSUs, as well as the execution of green hydrogen projects.

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Financial Performance

Deep Industries reported a robust financial performance in the December-ended quarter (Q3FY26), with a 49.8% rise in net profit to ₹71.3 crore. The company's revenue during the quarter grew 43.1% to ₹221.5 crore, while EBITDA rose 46.3% year-on-year to ₹110.1 crore.

Share Price Performance

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Deep Industries shares have witnessed a remarkable surge in recent years, delivering substantial returns to investors. The stock began its strong upward trajectory in April 2021, surging from ₹21.85 apiece to ₹562, translating into a massive gain of 2,472%. The stock reached a fresh all-time high of ₹624.50 per share during this period. In terms of yearly performance, the stock delivered four consecutive years of positive returns from 2021 to 2024, with 2021 as the strongest, posting a gain of 123%. Despite recent pressure, the stock still trades 211% higher over the last two years and 1,180% over five years.