Transcript of earning call held to discuss annual financial result for quarter and financial year ended on 31st march, 2026.
DEEPINDS · price
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Deep Industries reported strong FY26 results with operating revenue of INR 891 crores (up 55% YoY) and EBITDA of INR 424.82 crores (up 44% YoY). Full year net profit (excluding exceptional items) stood at INR 352.9 crores with cash profit of INR 442 crores and margin of 46%. The company wrote off INR 208 crores of legacy Kandla trade receivables (non-cash, did not impact cash flows) and achieved net operating cash flow of INR 270 crores. Order book remains robust at over INR 3,000 crores providing multi-year visibility. Management guided 25-30% YoY growth for FY27-FY28 and expressed confidence of doubling revenue in 3-5 years. Capex of INR 300 crores planned for FY27 including new rigs, gas processing units, and potential offshore expansion. A gas leak incident at Well Mori-5 caused a 5-6 month delay in production enhancement but operations are expected to normalize soon.
Strong execution and order book visibility support continued growth. The INR 208 crore write-off cleaned up the balance sheet without affecting core cash flows. Management's confident 25-30% growth guidance and clean debt position (debt-to-EBITDA of 0.48) are positive for shareholders.