Deep Industries Ltd Share Price – NSE /  BSE

Crude Oil & Natural Gas, Small Cap

Net profit of Deep Industries rose 30.82% to Rs 38.41 crore in the quarter ended September 2024 as against Rs 29.36 crore during the previous quarter ended September 2023. Sales rose 28.92% to Rs 130.62 crore in the quarter ended September 2024 as against Rs 101.32 crore during the previous quarter ended September 2023.

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Deep Industries will hold a meeting of the Board of Directors of the Company on 28 October 2024.

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Media Matrix Worldwide Ltd, Syncom Formulations (India) Ltd, Tribhovandas Bhimji Zaveri Ltd and CL Educate Ltd are among the other gainers in the BSE's 'B' group today, 09 September 2024.

Deep Industries Ltd spiked 19.06% to Rs 473.45 at 12:01 IST. The stock was the biggest gainer in the BSE's 'B' group. On the BSE, 3.45 lakh shares were traded on the counter so far as against the average daily volumes of 46895 shares in the past one month.

Media Matrix Worldwide Ltd soared 16.47% to Rs 18.32. The stock was the second biggest gainer in 'B' group. On the BSE, 28.41 lakh shares were traded on the counter so far as against the average daily volumes of 1.48 lakh shares in the past one month.

Syncom Formulations (India) Ltd surged 16.25% to Rs 26.9. The stock was the third biggest gainer in 'B' group. On the BSE, 98.6 lakh shares were traded on the counter so far as against the average daily volumes of 42.91 lakh shares in the past one month.

Tribhovandas Bhimji Zaveri Ltd rose 15.31% to Rs 269.2. The stock was the fourth biggest gainer in 'B' group. On the BSE, 2.32 lakh shares were traded on the counter so far as against the average daily volumes of 1.58 lakh shares in the past one month.

CL Educate Ltd spurt 15.10% to Rs 118.75. The stock was the fifth biggest gainer in 'B' group. On the BSE, 2.42 lakh shares were traded on the counter so far as against the average daily volumes of 68562 shares in the past one month.

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Production enhancement contracts (PEC) are aimed at increasing the production of hydrocarbons from the ageing, depleted and mature fields typically spanning around 15 years beyond the original life of the asset.

At Rajahmundry asset, the company wishes to further develop hydrocarbon reserves from the contract areas in a way that improves current production and ultimate recovery of hydrocarbons by application of safe and efficient operating practices and suitable techniques and technologies, it added.

The duration of the project is 15 years.

This is the largest project awarded to the company to date, more than doubling its current order book. As on 30 June 2024, the company’s order book stood at Rs 1,246 crore.

Paras Savla, MD, Deep Industries, said, “We are thrilled to announce this landmark achievement as we extend our expertise into Production Enhancement Contracts (PEC). This strategic win positions us to play an increasingly integral role in the evolving oil and gas services value chain.

With over three decades of experience in the sector, Deep Industries is well-equipped to optimize oil and gas production through the deployment of proven, advanced techniques. The PEC framework not only broadens our revenue streams but also enhances our profitability, making it a value-accretive proposition for our stakeholders. We remain confident in our ability to deliver exceptional outcomes, driving sustainable growth and long-term success.”

Deep Industries is a leading provider of energy solutions. The company specializes in air and gas compression services, drilling and workover services, gas dehydration services, and integrated project management services. The company's comprehensive portfolio includes various machines, equipment, and tools used in the oil and gas industry from exploration and production services to midstream services.

The company’s net profit jumped 21.9% to Rs 37.06 crore on 21.9% increase in net sales to Rs 123.46 crore in Q1 FY25 over Q1 FY24.

The scrip hit an all-time high of Rs 465.35 in intraday today.

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