Deep Industries announced that the Board of Directors of the Company at its meeting held on 27 May 2023, inter alia, have recommended the final dividend of Rs 1.85 per equity Share (i.e. 37%) , subject to the approval of the shareholders.

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Net profit of Deep Industries rose 324.56% to Rs 72.26 crore in the quarter ended March 2023 as against Rs 17.02 crore during the previous quarter ended March 2022. Sales rose 23.21% to Rs 103.46 crore in the quarter ended March 2023 as against Rs 83.97 crore during the previous quarter ended March 2022.

For the full year,net profit rose 73.71% to Rs 125.30 crore in the year ended March 2023 as against Rs 72.13 crore during the previous year ended March 2022. Sales rose 6.13% to Rs 341.34 crore in the year ended March 2023 as against Rs 321.63 crore during the previous year ended March 2022.

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Deep Industries will hold a meeting of the Board of Directors of the Company on 27 May 2023.

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Deep Industries has received Letter of Award from Oil and Natural Gas Corporation yesterday i.e on 22 February 2023 for Hiring of 1 numbers of 1000 HP Mobile Drilling Rigs for Ahmedabad Asset for a period of 3 years. The total estimated value of the said award is approximately USD 12.93 Mn equivalent to approximately Rs 106 crore.

The Company shall provide mobile Drilling Rigs of 1000 HP and Equipment together with providing of manpower in terms of roustabouts etc for maintaining the mud systems as per the requirement of the job.

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