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Dossier · DEEP INDUSTRIES LIMITED · 29 October 2026Page 1 of 3
Company Dossier
MarketPing Research · factual · no rating expressed
DEEP INDUSTRIES LIMITED NSE: DEEPINDS · BSE: 543288
Energy › Oil Gas & Consumable Fuels › Oil › Oil Equipment & Services
DEEP INDUSTRIES LIMITED
StateQ1 FY27 filed
Last close · 28 Oct 2026₹684.95
Market cap₹4.4k cr
TTM P/E · P/B · EV/EBITDA21.2 · 2.08 · 18.0
Provides oil and gas field services across four main verticals: gas processing (3 fields, 2 for ONGC and 1 for Cairn), gas compression (80+ compressor units), integrated project management with 20 onshore rigs (14 workover and 6 drilling rigs at 1,000 HP), and production enhancement services. The production enhancement business is anchored by a Rs 1,402 crore, 15-year ONGC contract, with incremental production from this contract targeted to restart by October 2026 after a gas leak incident at Well Mori-5 delayed the timeline by 5-6 months. FY26 revenue was Rs 890.71 crore with net profit of Rs 197.06 crore, and the order book stood at Rs 3,047 crore as of Q1 FY27, with over Rs 800 crore earmarked for execution in FY27. Customers include ONGC, Cairn, and Kuwait Oil Company (KOC approved for rig work), with single-client dependence reduced to below 40% of operating revenue. Kandla Energy was merged effective March 2026 to add in-house chemical manufacturing, and offshore operations are being built through Dolphin (DP2 barge Prabha). New gas compression contract wins include a 5-year ONGC charter at GGS Paliyad worth Rs 49.10 crore and a 3-year charter at Lakhmani GGS-5 Assam worth Rs 83.81 crore. The largest input cost is materials at 44.9% of revenue, followed by capex at 26.5% of revenue. AR · MarketPing reader · 2026-08-02
Revenue streams, as the annual report describes them. Gas processing, Gas compression, Integrated project management, Production enhancement services, Offshore. Asset-heavy oilfield services with long-tenure contracts
What a broker report prints here — the analyst's thesis. This dossier prints the filed record instead; the narrative read of the latest results, the guidance ledger and the earnings-call summary are the composer's sections (INSTITUTIONAL-PLAN.md M3) and are not yet produced.
Exhibit 1: Financial summary, FY22–FY26 (all audited; no estimate years)
₹ crore · consolidated
FY22
FY23
FY24
FY25
FY26
Revenue
322
341
427
576
891
EBITDA (ex other income)
115
175
161
(20)
147
margin %
35.7
51.3
37.7
(3.4)
16.5
Owners' profit
72
125
124
(90)
180
EPS, as reported (₹)
22.62
19.58
19.56
(14.08)
28.12
ROE % · ROCE %
6.4 · 8.0
9.1 · 10.6
8.2 · 9.6
(4.1) · (1.4)
9.3 · 6.9
Debt / equity (x)
0.03
0.05
0.10
0.11
0.10
Cash from operations
75
88
180
210
270
Capex
(30)
(113)
(216)
(210)
(236)
Source: SEBI results XBRL as filed with BSE/NSE; EBITDA excludes other income.
Every figure is a filed number or a ratio over filed numbers · No rating, target or fair value is expressed · Disclosures on the last pagemarketping.in
Dossier · DEEP INDUSTRIES LIMITED · 29 October 2026Page 2 of 3
Exhibit 2: Quarterly performance, last 8 quarters
₹ crore
Q2 FY25
Q3 FY25
Q4 FY25
Q1 FY26
Q2 FY26
Q3 FY26
Q4 FY26
Q1 FY27
Revenue
131
155
167
199
221
221
249
279
Profit before tax
51
62
(202)
78
91
90
(120)
112
Net profit
42
48
(207)
62
71
71
(7)
89
EPS (₹)
6.00
6.81
(32.68)
9.19
10.53
10.63
(2.24)
13.34
Source: quarterly results as filed; the balance sheet is filed half-yearly and is not repeated here.
Exhibit 3: Peers — basic industry group, by market cap
Company
M.cap ₹ cr
P/E
P/B
EV/EBITDA
ROE %
ROCE %
Rev CAGR 5y %
EBITDA m. %
DEEP INDUSTRIES LIMITED ◆
4,384
21.2
2.08
21.1
9.3
6.1
35.7
47.3
ASIAN ENERGY SERVICES LTD
1,990
32.2
4.02
21.5
10.5
11.3
28.2
9.0
DHP INDIA LTD.
140
12.7
0.59
—
4.7
6.4
—
28.0
DUKE OFFSHORE LTD.
—
—
—
—
(15.5)
(14.8)
—
—
Source: exchange data and filed statements via the screener; multiples at current prices.
Exhibit 4: Where the company sits in its group
Metric
Company
Group median
Rank
Better than
P/E (TTM)
21.2
21.8
7 of 15
57%
P/B
2.1
1.5
9 of 15
43%
ROCE
6.1
6.4
12 of 17
31%
ROE
9.3
8.5
8 of 16
53%
Debt / Equity
0.1
0.1
9 of 16
47%
EBITDA margin
47.3
28.0
5 of 15
71%
Revenue growth
39.8
45.2
10 of 15
36%
Profit growth
44.5
37.6
8 of 16
53%
Market cap
4384
2006
4 of 16
80%
Source: MarketPing peer ranks; a rank is a measurement, not a view.
Every figure is a filed number or a ratio over filed numbers · No rating, target or fair value is expressed · Disclosures on the last pagemarketping.in
Dossier · DEEP INDUSTRIES LIMITED · 29 October 2026Page 3 of 3
Exhibit 5: Filings of the last 90 days, with the measured price reaction
Date · filing
Category
Importance
Next day %
5-day %
27 Oct 2026 · Deep Industries schedules Q2 FY27 earnings call for November 4, 2026
board shareholder meetings
low
—
—
27 Oct 2026 · Board to approve September 2026 quarter results
results
low
—
—
7 Oct 2026 · Quarterly dematerialisation compliance certificate filed with exchanges
compliance
minimal
—
—
25 Sept 2026 · Schedule of Investors/Analysts meeting on Sep 30, 2026
board shareholder meetings
low
—
—
22 Sept 2026 · Trading window closed from Oct 1 ahead of Q2 FY26 results
compliance
minimal
—
—
8 Sept 2026 · Order worth about INR 88.15 cr received from ONGC for gas compression services
1 Sept 2026 · Deep Industries 20th AGM: Dividend of Rs 2.50, ESOP Scheme 2026 Approved
board shareholder meetings
medium
—
—
31 Aug 2026 · Deep Industries files corporate presentation with BSE and NSE
investor communications
medium
—
—
22 Aug 2026 · Deep Industries to attend Market Marvel investor conference in Ahmedabad on Aug 26
board shareholder meetings
low
—
—
Source: exchange announcements; each reaction is measured from the close before the filing. Next day = the close one session after the reaction day (the first session that could trade the filing).
How to read this document
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A rating (BUY / ADD / REDUCE / SELL)
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a target is a forecast; a multiple is a measurement
Estimate years marked E
More audited years; no estimates
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Sources, method and disclosures
This document is a statistical summary of publicly filed information and market data, prepared by software from primary sources: SEBI results XBRL filed with BSE and NSE, LODR disclosures, shareholding patterns, exchange price data. It contains no research recommendation, no price target and no opinion on the merits of any security, and is not a research report within the meaning of the SEBI (Research Analysts) Regulations, 2014, Regulation 2(1)(w)(vii). Financial statements are as filed (consolidated where the company files consolidated results). Ratios are computed over filed lines. Where a figure is unavailable the table shows a dash rather than an estimate. The business brief is written by MarketPing's reader from the annual report and checked against it; no figure in a table was generated by a model. Nothing here constitutes investment advice, an offer or a solicitation; readers should consult a SEBI-registered adviser before acting. MarketPing is not a SEBI-registered intermediary.
Every figure is a filed number or a ratio over filed numbers · No rating, target or fair value is expressed · Disclosures on the last pagemarketping.in
