Deep Industries wins ₹49.10 Cr ONGC order for charter hiring services
Deep Industries has received a Letter of Award from Oil and Natural Gas Corporation Limited for charter hiring services for Natural Gas Compression at GGS Paliyad, Ahmedabad asset, for a period of five years. The total estimated value of the contract is approximately ₹49.10 crore.
*this image is generated using AI for illustrative purposes only.
Deep Industries has secured a Letter of Award from Oil and Natural Gas Corporation Limited for charter hiring services for Natural Gas Compression. The contract, valued at approximately ₹49.10 crore, spans a period of five years and is located at GGS Paliyad of the Ahmedabad asset. This order win is expected to bolster the company's order book in the ordinary course of business.
Contract Details
The key details of the contract are summarised below:
| Parameter: | Details |
|---|---|
| Client: | Oil and Natural Gas Corporation Limited |
| Nature of Order: | Charter hiring services for Natural Gas Compression |
| Location: | GGS Paliyad, Ahmedabad asset |
| Duration: | 5 Years |
| Contract Value: | ₹49.10 crore |
The disclosure confirms that the order has been awarded by a domestic entity and does not involve any interest from the promoter, promoter group, or group companies. Furthermore, the transaction does not fall within related party transactions.
Historical Stock Returns for Deep Industries
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| +7.10% | +15.39% | +17.50% | +46.82% | +25.96% | +995.10% |
How will this contract impact Deep Industries' revenue over the next five years?
What are the potential risks associated with executing a long-term contract in the natural gas sector?
Could this win lead to further opportunities with ONGC or other major players in the industry?
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