Deep Industries Limited has informed the Exchange about Awarding of order(s)/contract(s)
DEEPINDS · price
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Deep Industries Limited has received a Letter of Award from Oil India Limited for charter hire of one brand-new Workover Rig to be deployed in Assam and Arunachal Pradesh. The total estimated contract value is approximately INR 96.72 crores, with an execution period of seven years (roughly INR 13.8 crores per year). The order is from a domestic public-sector entity and is in the ordinary course of business, with no related-party involvement. The contract strengthens the company's order book in the oilfield services segment.
This long-term order from a reputed public-sector oil major provides revenue visibility for 7 years and reinforces Deep Industries' presence in the oilfield services space. The contract is likely to be viewed positively by the market, though the annual revenue contribution (~INR 13.8 crores) is gradual rather than a one-time boost.