Deep Industries Limited, a prominent player in the onshore oil and gas field services sector, has reported a robust financial performance for the first quarter, along with several significant management reappointments and corporate actions.

Financial Highlights

Deep Industries witnessed a substantial 58% year-on-year increase in its consolidated net profit for the quarter ended June 30. The company's net profit rose to ₹588.00 million, up from ₹371.00 million in the corresponding quarter of the previous year.

The company's revenue saw an impressive growth of 62%, reaching ₹1.99 billion compared to ₹1.23 billion in the same period last year. This strong top-line growth reflects the company's expanding operations and market presence.

EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortization) also showed a significant improvement, increasing to ₹816.00 million from ₹506.00 million year-over-year. The EBITDA margin remained relatively stable at 40.90%, compared to 40.98% in the previous year, indicating consistent operational efficiency.

Management Reappointments

Deep Industries' Board of Directors has approved several key management reappointments, each for a five-year term:

1. Mr. Paras Shantilal Savla as Chairman & Managing Director, effective from September 1, 2025.
2. Mr. Rupesh Kantilal Savla as Managing Director, effective from September 1, 2025.
3. Mr. Rohan Vasantkumar Shah as Whole-time Director, effective from June 24, 2026.
4. Dr. Kirit Nanubhai Shelat as Independent Director, effective from November 10, 2025.
5. Mrs. Shaily Dedhia as Independent Director, effective from June 24, 2026.

All these reappointments are subject to shareholder approval at the upcoming Annual General Meeting.

Other Corporate Actions

The company has also taken several other significant corporate actions:

1. Appointment of M/s RPAP & Co. as Secretarial Auditors for a five-year term starting April 1, 2025.
2. Approval for substantial acquisition of ownership in Deep Natural Resources Limited, which will become a subsidiary of the company post-acquisition.
3. Alteration of the main object clause in the Memorandum of Association to integrate manufacturing business of chemicals and hydrocarbons fluids.
4. Declaration of a final dividend for the Financial Year 2024-25, with the record date set as August 22, 2025.

These developments, coupled with the strong financial performance, indicate Deep Industries' commitment to growth, corporate governance, and shareholder value creation in the dynamic oil and gas services sector.

Deep Industries Limited (DIL) has announced a significant business development, securing a substantial contract from Oil India Limited (OIL) for workover rig services in the northeastern states of India.

Contract Details

The company has received a Letter of Award from Oil India Limited for the charter hire of one brand-new workover rig to be deployed in Assam and Arunachal Pradesh. The contract, valued at approximately ₹96.72 crore, underscores Deep Industries' growing presence in the oil and gas services sector.

Scope and Duration

The agreement entails providing workover rig operations across Assam and Arunachal Pradesh, two key oil-producing states in India's northeast. According to the company's disclosure, the contract is set for a duration of seven years, indicating a long-term commitment from Oil India Limited.

Financial Impact

This new order is expected to have a positive impact on Deep Industries' financial performance. The ₹96.72 crore contract value represents a significant boost to the company's order book and is likely to contribute to its revenue stream over the next seven years.

Strategic Implications

Securing this contract from Oil India Limited, a major public sector undertaking, could potentially enhance Deep Industries' reputation in the oil and gas services market. It may also position the company favorably for future contracts in the region and with other oil exploration and production companies.

Compliance and Transparency

Deep Industries has promptly disclosed this development to the stock exchanges, in compliance with the Securities and Exchange Board of India (SEBI) regulations. The company has confirmed that this award is in the ordinary course of business and does not fall under related party transactions.

Market Response

Investors and market analysts are likely to view this development positively, as it demonstrates Deep Industries' ability to secure significant contracts from major players in the oil and gas sector. The long-term nature of the contract also provides a degree of revenue visibility for the company.

As the oil and gas sector continues to be a crucial part of India's energy landscape, companies like Deep Industries that provide specialized services such as workover rig operations play an important role in maintaining and enhancing oil production capabilities in the country.