Deep Industries Ltd.
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ABOUT
AI Sector View
AI GENERATEDOil Gas & Consumable Fuels
Sector economics are clouded by input volatility and uneven volume trends. WPI fuel inflation is very high at 20.05% (Jul/26), crude oil output is -5.3% YoY (2026-07), natural gas is -3.7% YoY (2026-07), and natural gas consumption is -3.0% YoY (2026-06), although refinery products grew 2.7% YoY (2026-07) and coal was 7.6% YoY (2026-07). Heavy FPI outflows of INR -15293 crore over 3 months to 2026-08-31 and negative oil-linked news flow reinforce the underweight.
PROS
- Company has delivered good profit growth of 24.9% CAGR over last 5 years
- Company has delivered good sales growth of 35.7% CAGR over last 5 years
- Latest quarter profit grew 44.5% YoY, showing strong momentum
- Strong cash generation - operating cash flow backs reported profits (CFO/PAT 3.02x)
- Working capital cycle has improved - days down from 384 to 216
- Company comfortably covers its interest (8.9x coverage)
CONS
- A large part of profit comes from other income (49.8% of PBT)
- Company has a low return on capital employed of 5.5%
- Company has a low return on equity of 4.8% over last 3 years
- Effective tax rate is unusually low at -41.1% - earnings may be flattered
- Recurring exceptional / one-off items are inflating headline profit
* The pros and cons are machine generated based on quantitative rules.
Peer comparison
| Name | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| ONGC | 232.55 | 6.72 | 292554.39 | 5.70 | 6554.44 | -43.27 | 204987.35 | 25.68 | 15.96 | 7.85 |
| OIL | 488.25 | 9.51 | 79419.13 | 2.36 | 4026.83 | -80.32 | 12886.27 | 47.27 | 12.43 | 46.35 |
| DEEPINDS | 774.70 | 24.01 | 4958.08 | 0.32 | 89.15 | 44.48 | 278.92 | 39.81 | 7.44 | 38.77 |
| ANTELOPUS | 1139.35 | 30.19 | 4006.22 | 0.00 | 543.20 | 4741.35 | 1310.40 | 2488.19 | 22.91 | 70.18 |
| ASIANENE | 534.55 | 45.18 | 2600.44 | 0.23 | 12.76 | 126.51 | 271.19 | 135.06 | 16.63 | 8.09 |
| DOLPHIN | 649.90 | 36.10 | 2599.90 | 0.00 | 148.14 | 1207.16 | 428.46 | 2505.73 | 14.92 | 59.07 |
| HINDOILEXP | 185.25 | 97.57 | 2449.81 | 0.00 | 6.24 | -85.79 | 114.18 | 45.17 | 12.33 | 4.82 |
| JINDRILL | 633.55 | 9.58 | 1836.10 | 0.16 | 47.14 | -28.69 | 275.39 | 8.38 | 15.30 | 35.72 |
| GNRL | 104.05 | 82.65 | 1596.15 | 0.00 | 11.35 | 488.84 | 5.72 | 70.36 | -0.56 | 202.01 |
| AAKASH | 9.10 | 18.18 | 92.14 | 0.00 | 0.26 | -36.86 | 23.35 | 7.11 | 5.39 | 9.38 |
Quarterly Results
Consolidated Figures in Rs. Crores / View Standalone
| 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 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 101 | 101 | 105 | 120 | 123 | 131 | 155 | 167 | 200 | 221 | 222 | 249 | 279 | |
| 58 | 63 | 65 | 82 | 73 | 73 | 102 | 111 | 118 | 129 | 121 | 167 | 191 | |
| Operating Profit | 43 | 39 | 40 | 38 | 51 | 57 | 53 | 57 | 82 | 92 | 100 | 82 | 88 |
| OPM % | 42.43% | 38.06% | 38.22% | 31.62% | 40.98% | 44.01% | 34.28% | 33.88% | 40.90% | 41.45% | 45.22% | 32.94% | 31.54% |
| 7 | 10 | 9 | 12 | 11 | 7 | 9 | -245 | 13 | 21 | 10 | -183 | 24 | |
| Interest | 2 | 1 | 3 | 3 | 3 | 3 | 3 | 3 | 4 | 7 | 4 | 3 | 4 |
| Depreciation | 9 | 9 | 9 | 7 | 10 | 10 | 10 | 11 | 13 | 15 | 16 | 16 | 16 |
| Profit before Tax | 39 | 38 | 37 | 40 | 49 | 51 | 62 | -202 | 78 | 91 | 90 | -120 | 112 |
| Tax % | 20.38% | 22.17% | 24.97% | 7.49% | 21.10% | 18.99% | 22.70% | -2.18% | 20.75% | 22.12% | 20.82% | 93.97% | 20.15% |
| Net Profit | 0 | 0 | 0 | 0 | 39 | 42 | 48 | -207 | 62 | 71 | 71 | -7 | 89 |
| 4.85 | 4.61 | 4.37 | 5.73 | 5.79 | 6.00 | 6.81 | -32.68 | 9.19 | 10.53 | 10.63 | -2.24 | 13.34 |
Profit & Loss
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|
| 313 | 318 | 262 | 194 | 322 | 341 | 427 | 576 | 891 | 970 | |
| 150 | 165 | 136 | 113 | 207 | 211 | 268 | 345 | 535 | 608 | |
| Operating Profit | 162 | 152 | 125 | 80 | 115 | 131 | 159 | 231 | 355 | 362 |
| OPM % | 51.90% | 47.95% | 47.89% | 41.48% | 35.68% | 38.25% | 37.33% | 40.18% | 39.89% | 37.28% |
| 5 | 2 | 3 | 7 | 5 | 56 | 37 | -219 | -139 | -128 | |
| Interest | 12 | 12 | 11 | 9 | 5 | 5 | 8 | 12 | 18 | 18 |
| Depreciation | 103 | 98 | 90 | 88 | 24 | 30 | 34 | 41 | 59 | 62 |
| Profit before Tax | 52 | 44 | 28 | -10 | 91 | 152 | 154 | -40 | 140 | 173 |
| Tax % | 96.19% | 69.38% | -10.49% | 744.41% | 20.18% | 17.38% | 18.62% | -95.53% | -41.09% | -29.42% |
| Net Profit | 2 | 14 | 31 | 65 | 72 | 125 | 125 | -79 | 197 | 225 |
| EPS | 0.62 | 4.24 | 9.72 | 20.25 | 11.31 | 19.58 | 19.35 | -14.08 | 28.12 | — |
| Dividend Payout % | — | — | — | 0.00% | 14.42% | 9.07% | 12.61% | -21.66% | 8.89% | — |
COMPOUNDED SALES GROWTH
- 10 Years:
- —
- 5 Years:
- 36%
- 3 Years:
- 38%
COMPOUNDED PROFIT GROWTH
- 10 Years:
- —
- 5 Years:
- 23%
- 3 Years:
- 11%
STOCK PRICE CAGR
- 10 Years:
- —
- 5 Years:
- 64%
- 3 Years:
- 46%
- 1 Year:
- 44%
RETURN ON EQUITY
- 10 Years:
- —
- 5 Years:
- 6%
- 3 Years:
- 5%
- Last Year:
- 10%
Balance Sheet
Consolidated Figures in Rs. Crores / View Standalone
| 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 |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 9 | 84 | 95 | 113 |
| 2 | 10 | 37 | 1,030 | 1,098 | 1,338 | 1,411 | 1,788 | 1,967 | |
| 233 | 102 | 85 | 41 | 31 | 70 | 112 | 129 | 114 | |
| Trade Payables | 24 | 23 | 36 | 32 | 38 | 55 | 41 | 72 | 93 |
| 1,060 | 1,083 | 1,077 | 38 | 61 | 82 | 226 | 270 | 256 | |
| Total Liabilities | 1,319 | 1,218 | 1,236 | 1,173 | 1,260 | 1,587 | 1,906 | 2,386 | 2,576 |
| 1,085 | 980 | 948 | 868 | 868 | 1,007 | 979 | 1,081 | 1,472 | |
| Capital Work in Progress | 1 | 4 | 3 | 1 | 5 | 20 | 220 | 258 | 56 |
| 64 | 10 | 9 | 29 | 73 | 48 | 142 | 152 | 142 | |
| 15 | 14 | 26 | 39 | 40 | 46 | 49 | 60 | 94 | |
| 0 | 0 | 0 | 0 | 0 | 0 | 277 | 589 | 480 | |
| Cash & Bank | 48 | 38 | 37 | 46 | 32 | 43 | 55 | 51 | 53 |
| 106 | 171 | 212 | 191 | 242 | 423 | 184 | 195 | 279 | |
| Total Assets | 1,319 | 1,218 | 1,236 | 1,173 | 1,260 | 1,587 | 1,906 | 2,386 | 2,576 |
Cash Flows
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|
| 217 | 101 | 55 | 85 | 60 | 77 | 255 | 210 | 270 | |
| Cash from Investing | -64 | 78 | -59 | -11 | -76 | -102 | -317 | -248 | -233 |
| Cash from Financing | -118 | -192 | 4 | -54 | 14 | 29 | 69 | 28 | -39 |
| 19 | -23 | -8 | 16 | -7 | 8 | 7 | -10 | -2 |
Ratios
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|
Documents
Corporate disclosures, annual reports, credit ratings, and concall transcripts
2026-09-08 - Deep Industries Limited has informed the Exchange about Bagging/Receiving of orders/contracts
2026-09-02 - Deep Industries Limited has submitted the Exchange a copy Srutinizers report of Annual General Meeting held on September 01, 2026. Further, the company has informed the Exchange regarding voting results.
2026-09-01 - Deep Industries Limited has informed the Exchange regarding Proceedings of Annual General Meeting held on September 01, 2026
2026-08-31 - Deep Industries Limited has informed the Exchange about Investor Presentation
2026-08-22 - Deep Industries Limited has informed the Exchange about Schedule of meet
2026-08-10 - Deep Industries Limited has informed the Exchange about Schedule of meet
2026-08-10 - Deep Industries Limited has informed the Exchange about Schedule of meet
2026-08-08 - Deep Industries Limited has informed the Exchange about Copy of Newspaper Publication
2026-08-07 - Deep Industries Limited has informed the Exchange regarding 'Book Closure Announcement'.
News
Recent coverage and analyst commentary for DEEPINDS
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Deep Industries Ltd.
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