Deep Industries Limited has informed stock exchanges about receiving a provisional suspension notice from Oil and Natural Gas Corporation Limited (ONGC) regarding business dealings due to alleged nonperformance in a drilling rig contract. The company disclosed this development through a regulatory filing dated February 13, 2026.

Company's Response to Suspension

Deep Industries has firmly rejected the grounds for suspension, stating that the provisional suspension imposed by ONGC is unwarranted. The company has announced its intention to challenge this decision through comprehensive legal action.

Business Operations Continue

Despite the suspension notice, Deep Industries has assured stakeholders that its overall business operations remain unaffected. The company emphasized several key factors supporting business continuity:

• Robust order book maintaining operational stability
• Strong financial position ensuring sustained operations
• Continued value creation for shareholders
• No disruption to ongoing business activities

Regulatory Compliance

The disclosure was made under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, ensuring transparency with investors and regulatory authorities. The intimation was simultaneously sent to both BSE Limited and National Stock Exchange of India Limited.

Company Background

Deep Industries Limited, formerly known as Deep CH4 Limited, operates from its registered office in Ahmedabad. The company continues to maintain its commitment to shareholders while addressing the current contractual dispute with ONGC through appropriate legal channels.

Deep Industries announced its unaudited financial results for Q3FY26 ended December 31, 2025, demonstrating exceptional performance across both standalone and consolidated operations. The Board of Directors approved these results on February 5, 2026, under Regulation 33 of SEBI listing requirements, with statutory auditors M/s Mahendra N. Shah & Co. conducting the limited review.

Consolidated Financial Performance

The company delivered outstanding consolidated results for Q3FY26, showcasing significant growth across all key financial metrics. Revenue from operations reached ₹2,214.99 crores compared to ₹1,548.26 crores in Q3FY25, representing robust operational expansion.

Standalone Results Analysis

The standalone financial performance equally reflected strong growth momentum, with revenue from operations increasing to ₹1,793.57 crores from ₹1,200.46 crores in Q3FY25. Net profit for the standalone entity reached ₹507.23 crores, demonstrating the company's core operational strength.

Nine-Month Performance Overview

For the nine months ended December 31, 2025, consolidated revenue from operations stood at ₹6,420.08 crores compared to ₹4,088.99 crores in the corresponding period. The consolidated net profit attributable to owners reached ₹1,942.97 crores, significantly higher than ₹1,190.72 crores in the previous year, underlining sustained growth trajectory.

Strategic Developments and Regulatory Compliance

During the current quarter, the company acquired 3,50,000 equity shares of Deep Natural Resources Limited, representing 70% equity stake, at a premium of ₹31.25 per share from Prabha Energy Limited. This acquisition makes Deep Natural Resources Limited a subsidiary of the company. Additionally, Deep Industries incorporated the impact of four Labour Codes notified by the Government of India on November 21, 2025, in accordance with Ind AS 19 - Employee benefits, demonstrating commitment to regulatory compliance and transparent financial reporting.