Deep Industries
- P/E
- 20.20
Key Fundamentals
MicrocapOil & GasEnergyPrice-based figures as of · EPS basis: Consolidated · TTM
- ROCE
- 16.50%
- Debt to Equity
- 0.10
- EPS (TTM)
- ₹32.26
- Book Value
- ₹335.74
- Market Cap
- —
- P/E (TTM)
- 20.20
- P/B
- 1.94
- ROE
- 19.20%
- Dividend Yield
- 0.41%
- EBITDA
- ₹425 Cr
- 52W High
- ₹825.00
- 52W Low
- ₹330.00
- Volume
- 0
Tapetide Score
Data-driven rating, 0–100, as of . How it works →
Overall score
Data confidence 100/100
Category scores
- Quality
- 55
- Average
- Returns, margins, earnings quality 22% weight
- Valuation
- 38
- Weak
- Cheap vs sector & own history 24% weight
- Growth
- 95
- Strong
- Sales & profit trajectory 9% weight
- Financial Health
- 69
- Strong
- Solvency, leverage, coverage 9% weight
- Momentum
- 80
- Strong
- Trend strength, vol-adjusted 12% weight
- Ownership
- 83
- Strong
- FII/DII/promoter flows 24% weight
The Tapetide Score is data analysis, not investment advice. Tapetide is not a SEBI-registered research analyst or investment adviser.
Key Insights
Strengths
3- Company is expected to give good quarter
- Company has delivered good profit growth of 42.7% CAGR over last 5 years
- Company's working capital requirements have reduced from 204 days to 137 days
Weaknesses
3- Tax rate seems low
- Company has a low return on equity of 12.4% over last 3 years.
- Company has high debtors of 197 days.
Technical Indicators
| Group | Signal | Bearish | Neutral | Bullish |
|---|---|---|---|---|
| Overall | Bearish | 8 | 5 | 6 |
| Oscillators | Neutral | 2 | 5 | 2 |
| Moving Averages | Strong Bearish | 6 | 0 | 4 |
Oscillators
Neutral
Overall
Bearish
Moving Averages
Strong Bearish
Key readings
- RSI (14)
- 41.00
- Neutral
- MACD (12,26,9)
- −24.90
- Bearish
- SMA (50)
- 728.06
- Bearish
- SMA (200)
- 527.91
- Bullish
As of
Analyst Rating
1 of 1 analyst rates Buy, 0 Hold, 0 Sell.
As of
Growth Rate
From the financial statements below. 5Y, 3Y: compound annual growth to Mar 2026; 1Y: fiscal year to Mar 2026 against Mar 2025; TTM: four quarters to Jun 2026 against Jun 2025.
Revenue
| 5Y | +35.65% |
|---|---|
| 3Y | +37.73% |
| 1Y | +54.69% |
| TTM | +48.70% |
Net profit
| 5Y | +24.83% |
|---|---|
| 3Y | +16.37% |
| 1Y | Turned to profit |
| TTM | Turned to profit |
Operating cash flow
| 5Y | +27.23% |
|---|---|
| 3Y | +45.31% |
| 1Y | +28.57% |
| TTM | — |
TTM: Reported once a year, so there is no trailing-twelve-month figure.
Operating margin· change in pp
| 5Y | −1.57 pp |
|---|---|
| 3Y | +1.76 pp |
| 1Y | −1.66 pp |
| TTM | −0.94 pp |
Revenue by year
| Mar 2018 | ₹313 Cr |
|---|---|
| Mar 2019 | ₹318 Cr |
| Mar 2020 | ₹262 Cr |
| Mar 2021 | ₹194 Cr |
| Mar 2022 | ₹322 Cr |
| Mar 2023 | ₹341 Cr |
| Mar 2024 | ₹427 Cr |
| Mar 2025 | ₹576 Cr |
| Mar 2026 | ₹891 Cr |
Net profit by year
| Mar 2018 | ₹2.00 Cr |
|---|---|
| Mar 2019 | ₹14.00 Cr |
| Mar 2020 | ₹31.00 Cr |
| Mar 2021 | ₹65.00 Cr |
| Mar 2022 | ₹72.00 Cr |
| Mar 2023 | ₹125 Cr |
| Mar 2024 | ₹125 Cr |
| Mar 2025 | −₹79.00 Cr |
| Mar 2026 | ₹197 Cr |
Analyst Forecasts
AI Analysis — Bull vs Bear
Deep Industries Ltd is a mid-cap energy services company with a market cap of ~₹2,982 Cr, trading at a PE of 15x. The company has demonstrated strong revenue growth (38% CAGR over 3 years, 55% TTM sales growth) and profit growth (63% CAGR over 3 years), supported by a growing order book of ~₹2,967 Cr from clients like ONGC and Oil India Ltd. However, high debtor days of 197 and questions around tax sustainability warrant attention.
- TTM revenue growth of 55% YoY indicates strong demand momentum, with FY26 revenue reaching ~₹891 Cr versus ~₹576 Cr in FY25
- Compounded profit growth of 63% CAGR over 3 years and 42% CAGR over 5 years demonstrates consistent earnings expansion
- PE ratio of 15x is moderate for a company delivering 55% TTM sales growth, suggesting reasonable valuation relative to growth
- Order book of ~₹2,967 Cr with recent contract wins (₹148 Cr from Oil India Ltd, ₹84 Cr from ONGC) provides multi-year revenue visibility
- ROE has improved from 12% (5-year average) to 19% in the last year, indicating improving capital efficiency
- Operating profit margin of 37-38% in FY25-FY26 reflects a structurally profitable business model in energy services
- Low debt-to-equity ratio of approximately 0.10 provides financial flexibility for future capex and contract execution
- Stock has delivered a 33% CAGR over 3 years and 55% CAGR over 5 years, reflecting sustained market re-rating
- Debtor days at 197 days is extremely high, tying up significant working capital and creating cash flow risk given reliance on government PSU clients
- FY25 reported a net loss of ₹-79 Cr due to exceptional/other income items of ₹-219 Cr, raising concerns about earnings volatility
- Tax rate appears unusually low, and any normalization toward the 25% corporate rate could compress net profits materially
- Heavy client concentration with ONGC and Oil India Ltd creates revenue dependency risk on a few PSU customers
- Dividend payout ratio of only ~9% (FY26) and dividend yield of 0.66% offers limited income return to shareholders
- 10-year financial data is sparse with no reported 10-year CAGR figures for sales or profit, limiting long-term track record assessment
- The energy services sector is cyclical and dependent on upstream capex decisions by ONGC/Oil India, which can shift with government policy or oil prices
This is AI-generated analysis, not financial advice. Do your own due diligence.
AI News Digest
TL;DR: Deep Industries is demonstrating order book momentum with a fresh ₹83.81 Cr ONGC contract adding three-year revenue visibility in gas compression services. No material headwinds are visible in recent news flow. The upcoming investor meets and Q1FY26 results could provide the next catalyst or risk event depending on execution commentary and earnings delivery.
- ₹83.81 Cr ONGC order win Jun 20
Deep Industries secured a ₹83.81 crore order from ONGC for gas compression services in Assam, providing three years of revenue visibility.
- Investor meets scheduled Jun 23 Jun 18
Deep Industries will hold one-on-one meetings with analysts and investors on June 23, 2026, in Mumbai. No unpublished price sensitive information will be shared.
- Trading window closed for Q1FY26 Jun 18
Trading window shut from July 01, 2026, until 48 hours after Q1FY26 results are declared, per insider trading regulations.
Quarterly Results
₹ Cr| Particulars | Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | Sep 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 101 | 101 | 105 | 120 | 123 | 131 | 155 | 167 | 200 | 221 | 222 | 249 | 279 | 295 |
| Expenses | 58 | 63 | 65 | 82 | 73 | 73 | 88 | 111 | 118 | 129 | 121 | 167 | 171 | 189 |
| Operating Profit | 43 | 39 | 40 | 38 | 51 | 57 | 67 | 57 | 82 | 92 | 100 | 82 | 108 | 106 |
| OPM % | 42% | 38% | 38% | 32% | 41% | 44% | 43% | 34% | 41% | 41% | 45% | 33% | 39% | 36% |
| Other Income | 5.61 | 10 | 9 | 11.22 | 11 | 7 | 9 | −245 | 13 | 21 | 10 | −183 | 24 | 18 |
| Interest | 2 | 1 | 3 | 3 | 3 | 3 | 3 | 3 | 4 | 7 | 4 | 3 | 4 | 4 |
| Depreciation | 9 | 9 | 9 | 7 | 10 | 10 | 10 | 11 | 13 | 15 | 16 | 16 | 16 | 16 |
| PBT | 39 | 38 | 37 | 40 | 49 | 51 | 62 | −202 | 78 | 91 | 90 | −120 | 112 | 104 |
| Tax % | 20% | 22% | 25% | 7% | 21% | 19% | 23% | 2% | 21% | 22% | 21% | −94% | 20% | 22% |
| Net Profit | 31 | 30 | 28 | 37 | 39 | 42 | 48 | −207 | 62 | 71 | 71 | −7 | 89 | 81 |
| EPS (₹) | 4.88 | 4.59 | 4.25 | 5.64 | 5.79 | 6 | 6.81 | −32.68 | 9.19 | 10.53 | 10.63 | −2.24 | 13.34 | — |
Sep 2026: from the results filed on 3 Nov 2026, ahead of the full statement, so some rows are blank.
Profit & Loss
₹ Cr| Particulars | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 313 | 318 | 262 | 194 | 322 | 341 | 427 | 576 | 891 | 970 |
| Expenses | 149 | 165 | 136 | 113 | 205 | 211 | 260 | 335 | 532 | 588 |
| Operating Profit | 164 | 153 | 126 | 81 | 116 | 131 | 167 | 241 | 358 | 382 |
| OPM % | 52% | 48% | 48% | 42% | 36% | 38% | 39% | 42% | 40% | 39% |
| Other Income | 3 | 2 | 3 | 6 | 3 | 56 | 30 | −228 | −142 | −128 |
| Interest | 12 | 12 | 11 | 9 | 5 | 5 | 8 | 12 | 18 | 18 |
| Depreciation | 103 | 98 | 90 | 88 | 24 | 30 | 34 | 41 | 59 | 62 |
| PBT | 52 | 44 | 28 | −10 | 91 | 152 | 154 | −40 | 140 | 173 |
| Tax % | 96% | 69% | −10% | −744% | 20% | 17% | 19% | 96% | −41% | — |
| Net Profit | 2 | 14 | 31 | 65 | 72 | 125 | 125 | −79 | 197 | 224 |
| EPS (₹) | Not comparable with later periods: it is stated on a share count about a hundred times or more different, so it is left blank. | Not comparable with later periods: it is stated on a share count about a hundred times or more different, so it is left blank. | Not comparable with later periods: it is stated on a share count about a hundred times or more different, so it is left blank. | 10.12 | 11.27 | 19.58 | 19.35 | −14.08 | 28.12 | 32.26 |
| Div. Payout % | 0% | 0% | 0% | 0% | 14% | 9% | 13% | Not meaningful for this period: the ratio divides by a base close to zero, so it is left blank rather than shown as a very large number. | 9% | — |
Balance Sheet
₹ Cr| Particulars | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 0 | 0 | 0 | 32 | 32 | 32 | 32 | 32 | 32 |
| Reserves | 2 | 10 | 37 | 1,030 | 1,098 | 1,338 | 1,411 | 1,788 | 1,967 |
| Borrowings | 231 | 102 | 83 | 41 | 32 | 70 | 160 | 205 | 203 |
| Other Liabilities | 1,086 | 1,106 | 1,115 | 70 | 99 | 147 | 303 | 361 | 374 |
| Total Liabilities | 1,319 | 1,218 | 1,236 | 1,173 | 1,260 | 1,587 | 1,906 | 2,386 | 2,576 |
| Fixed Assets | 1,085 | 980 | 948 | 868 | 868 | 1,007 | 979 | 1,081 | 1,472 |
| CWIP | 1 | 4 | 3 | 1 | 5 | 20 | 220 | 258 | 56 |
| Investments | 64 | 10 | 9 | 29 | 73 | 48 | 142 | 152 | 142 |
| Other Assets | 169 | 223 | 276 | 276 | 314 | 512 | 566 | 895 | 906 |
| Total Assets | 1,319 | 1,218 | 1,236 | 1,173 | 1,260 | 1,587 | 1,906 | 2,386 | 2,576 |
Cash Flow
₹ Cr| Particulars | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|
| Operating | 200 | 92 | 47 | 81 | 55 | 88 | 255 | 210 | 270 |
| Investing | −124 | 32 | −59 | −11 | −76 | −108 | −317 | −248 | −233 |
| Financing | −58 | −147 | 4 | −54 | 14 | 29 | 69 | 28 | −39 |
| Net Cash Flow | 19 | −23 | −8 | 16 | −7 | 8 | 7 | −10 | −2 |
| Free Cash Flow | 201 | 102 | −10 | 76 | 26 | −25 | 44 | 1 | 53 |
| CFO/EBITDA | 132 | 66 | 44 | 105 | 52 | 63 | 165 | 85 | 80 |
Ratios
| Particulars | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|
| Debtor Days | 99 | 146 | 217 | 240 | 154 | 270 | 237 | 373 | 197 |
| Inventory Days | — | — | — | — | — | 776 | — | — | — |
| Days Payable | — | — | — | — | — | 942 | — | — | — |
| Cash Conversion Cycle | 99 | 146 | 217 | 240 | 154 | 104 | 237 | 373 | 197 |
| Working Capital Days | −6 | 100 | 226 | 227 | 180 | 334 | 219 | 256 | 137 |
| ROCE % | — | 33% | 34% | −1% | 8% | 8% | 10% | 12% | 16% |
Insights
BetaAI-extracted from concalls & annual reports · figures as reported, with sources
Log in to view Deep Industries insights
66 extracted metrics across FY18–FY27.
Documents
- Concall · Aug 2026PPT
- Q1 FY27 concall · Jul 2026Transcript PPT Recording
- Q4 FY26 concall · May 2026Transcript PPT Recording
- Q3 FY26 concall · Feb 2026Transcript PPT Recording
- Q2 FY26 concall · Nov 2025Transcript PPT Recording
- 28 Jul 2026
- 9 Oct 2026
- 19 Jun 2026
- 9 Sep 2025
- 17 Apr 2025
- 4 Sep 2024
- General announcements 3 Nov 2026
Frequently Asked Questions about Deep Industries
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Company Information
Incorporated in 1991, Deep Industries Ltd is in the business of Oil and Gas field services. The company specializes in providing Air & Gas Compression Services, Drilling and Workover Services, Gas Dehydration Services, etc. The company also provides integrated project management services.
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