Deep Industries shares are likely to attract investor interest in Tuesday’s trade (7 April) after the company secured a fresh order. In a regulatory filing on Monday, the company said it had received a Letter of Award from Oil and Natural Gas Corporation (ONGC).
The order is 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 for a period of three years. The contract is valued at ₹59 crore.
The company also stated that neither the promoter nor any of the promoter group companies has any interest in the entity that awarded the order. It further clarified that the order does not constitute a related-party transaction.
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 (Q3FY26), 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 reached a fresh all-time high of ₹624.50 per share. In terms of yearly performance, the stock delivered four consecutive years of positive returns from 2021 to 2024, with 2021 as the strongest, 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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