Deep Industries Limited has informed the Exchange regarding a press release dated February 13, 2026, titled "Press release regarding the provisional suspension of business dealings with Oil and Natural Gas Corporation Limited (ONGC)".
DEEPINDS · price
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Awaiting price reaction for this filing.
Deep Industries has received a provisional suspension notice from ONGC for a specific contract involving charter hiring of a 90 MT mobile drilling rig at the CBM Asset in Bokaro. The suspension stems from a Force Majeure event in which the rig was violently sabotaged by unidentified miscreants, an FIR was filed, and a police status quo order blocked access and operations. The company considers the suspension legally untenable under the contract's Force Majeure clause and Indian law, and is pursuing legal remedies. All other ONGC contracts and broader business operations remain unaffected, with no impact on the order book or other client relationships. The company estimates a potential revenue hit of around ₹5–6 crore for Q4 FY 2025-26 from this single contract.
Negative but limited — a short-term revenue dent of roughly ₹5–6 crore in Q4 FY26 from one ONGC contract, while the rest of the ONGC business and overall order book stay intact. Sentiment may be weak in the near term until the legal challenge plays out.