Small-cap stock Deep Industries gained 9.5% in Tuesday’s session on April 6, reaching the day’s high of ₹487.50 apiece after the company secured a fresh order from Oil and Natural Gas Corporation (ONGC).
The company, in its regulatory filing on Monday, said that it had received a Letter of Award from ONGC for the hiring of services for natural gas compressors, gas dehydration, and HC dew-point depression at ONGC’s Malleswaram field under the Rajahmundry Asset.
The company also stated that neither the promoter nor the promoter group companies have any interest in the entity that awarded the order. It further clarified that the order does not fall under related-party transactions.
This marks the company’s second order win, after it secured a ₹148 crore contract from Oil India in February for the hiring of a 1,000 HP mobile drilling rig package in Assam and Arunachal Pradesh.
In mid-March, the company entered into a Memorandum of Understanding (MoU) with Advait Greenergy Private Limited to establish a framework of collaboration between Deep Industries and AGPL for jointly participating in green hydrogen tenders floated by NTPC, SECI, IOC, HPCL, BPCL, GAIL, and other PSUs, as well as executing green hydrogen projects.
For the December-ended quarter, the company reported a 49.8% rise in net profit to ₹71.3 crore. Its revenue during the quarter grew 43.1% to ₹221.5 crore, while EBITDA rose 46.3% year-on-year to ₹110.1 crore.
Deep Industries share price trend
The shares have seen a meteoric rise in recent years, delivering handsome returns to investors. The stock began its strong upward trajectory in April 2021, which continued until January 2025, during which it surged from ₹21.85 apiece to ₹562, translating into a massive gain of 2,472%.
During this period, the stock touched a fresh all-time high of ₹624.50 apiece. In terms of yearly performance, the stock delivered four consecutive years of positive returns from 2021 to 2024, with 2021 emerging as the strongest year, posting a gain of 123%.
Although the shares have remained under pressure in recent months, the strong gains accumulated over the years continue to reflect in its performance, with the stock still trading 211% higher over the last two years and 1,180% over five years.
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