Deep Industries has announced a major contract win, securing an order worth ₹59 crore from Oil and Natural Gas Corporation Limited (ONGC). The company received a Letter of Award for natural gas compressor services, gas dehydration, and HC dew point depression services to be executed at ONGC's Malleswaram facility in Rajamundry Asset.

Contract Specifications

The substantial order highlights Deep Industries' growing presence in the oil and gas services sector. The contract involves specialized services that are critical for natural gas processing operations over an extended period.

Regulatory Compliance

Deep Industries has filed the necessary disclosure under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulation, 2015. The company confirmed that this award is in the ordinary course of business and does not involve any related party transactions.

Strategic Significance

This contract win represents a significant business development for Deep Industries, demonstrating the company's technical capabilities and competitive positioning in the energy sector. The three-year duration provides revenue visibility and strengthens the company's relationship with ONGC, one of India's premier oil and gas companies.

The order validates Deep Industries' expertise in providing specialized services for natural gas processing operations and adds to the company's portfolio of projects with major energy sector clients, potentially opening doors for future collaborations in the oil and gas services domain.

Deep Industries Limited has issued a postal ballot notice under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, seeking shareholder approval for significant corporate changes through electronic voting.

E-Voting Schedule and Process

The company has established a comprehensive timeline for the postal ballot process, with MUFG Intime India Private Limited (formerly Link Intime India Private Limited) providing the e-voting facility.

Shareholders whose email addresses are registered with their Depository Participants or the Registrar and Transfer Agent as of March 20, 2026, will receive the notice electronically. Voting rights will be determined based on the Register of Members/Beneficial Owners maintained by NSDL and CDSL as of the cut-off date.

Special Resolution Items

Memorandum of Association Amendment

The first special resolution seeks approval for altering Clause III (Main Object Clause) of the company's Memorandum of Association. The proposed amendment adds comprehensive provisions for green energy business operations, including:

• Hydrogen and derivatives business activities
• Renewable energy projects including solar, wind, hydro, and biomass
• Energy storage facilities and smart grid technologies
• Electric mobility and charging infrastructure
• Carbon capture and decarbonization technologies

The company stated this alteration aims to facilitate venturing into the green energy business, targeting growth opportunities with good future prospects and potential to increase shareholder returns.

Director Appointment

The second special resolution proposes the appointment of Mr. Shalin Harshadbhai Patel (DIN: 08214933) as Non-Executive Independent Director. Key details of the appointment include:

Mr. Patel brings expertise in finance and accounts, banking, and costing, with a proven track record in business valuations, fundraising, and debt resolution. He is also an IBBI Registered Valuation Professional and Insolvency Professional.

Scrutinizer and Compliance

The Board has appointed Mr. Rajesh Parekh, Partner of RPAP & Co. (Membership No. A8073 & Certificate of Practice No. 2939) as the Scrutinizer, with Aishwarya Parekh as the Alternate Scrutinizer, to conduct the postal ballot process in a fair and transparent manner.

The postal ballot notice complies with various MCA circulars issued between 2020-2023 and SEBI circulars, ensuring adherence to regulatory requirements for electronic voting processes. Physical copies of the notice will not be dispatched, and the company will not accept any physical ballot forms.

Results will be posted on the company's website ( www.deepindustries.com ), MUFG Intime's website, and communicated to BSE Limited and National Stock Exchange of India Limited. If approved by requisite majority, the resolutions will be deemed passed on April 27, 2026.