Deep Industries Limited has informed the Exchange regarding Outcome of Board Meeting held on March 12, 2026.
DEEPINDS · price
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Deep Industries' board, meeting on March 12, 2026, approved adding a green energy business as a new vertical by amending the Main Object clause of the company's Memorandum of Association. The board also appointed Mr. Shalin Harshadbhai Patel (a Chartered Accountant and CFA with 19+ years in corporate finance) as an Additional Non-Executive Independent Director for a five-year term from March 12, 2026 to March 11, 2031, subject to shareholder approval via postal ballot. Additionally, the board cleared the sale of 15,00,000 (15 lakh) 10% Optionally Convertible Redeemable Preference Shares (OCRPS) of Raas Equipment Private Limited to a related party. Further details on the OCRPS transfer will be shared once the shares are moved.
The green energy addition signals a strategic diversification beyond the company's existing oil and gas services business, which could open a new growth avenue but also brings execution risk. The related-party sale of OCRPS and the new independent director add are routine corporate housekeeping items with limited immediate price impact, pending shareholder approval and further disclosure on the OCRPS transaction.