Deep Industries (DEEPINDS) had a P/E of 19.9× on 6 Nov 2026, below the industry P/E of 77.3×, and the shares are 22% below their 52-week high. Its ROCE of 6.7% is the second-highest among its 4 Oil & Gas E&P peers, and sales and net profit grew 38% and 13% a year over 3 years. It has almost no debt, and its dividend yield is 0.4%. It is a small-cap company with a market cap of ₹4,107 Cr, the largest of 5 Oil & Gas E&P companies by market cap; the shares rose 29% over the past year.
- ₹639.35
- ₹650.90
- ₹621.65
- ₹639.65
- 2.9 L
Health check
- ReturnsAhead
+29.2% over a year, better than 3 of 4 peers.
- Price tagCheaper
P/E 19.9 vs industry 77.3.
- GrowthStrong
Sales +37.7%, profit +13.4% a year over 3 years.
- ProfitabilityWeak
ROCE 6.7% vs peer median 5.6%.
- Balance sheetSolid
Debt 0.10× equity, interest covered 10.9×, Piotroski 7 of 9.
- Red flagsNone found
No warning signs in the headline numbers.
Small cap
Market sensitivity
Key metrics
- Market cap
- ₹4,107 Cr
- Small cap
- P/E
- 19.9
- Industry 77.3
- Price to book
- 2.05
- Peers 5.17
- Dividend yield
- 0.37%
- ROE
- 9.4%
- Peers 5.1%
- ROCE
- 6.7%
- Peers 5.6%
- Debt to equity
- 0.10
- Debt ₹203 Cr
- EPS (TTM)
- ₹32.26
- Face value ₹5
- OPM (TTM)
- 33.0%
- Net margin 21.3%
- Sales growth
- +39.8%
- Latest quarter vs a year ago
- Profit growth
- +45.1%
- Latest quarter vs a year ago
- Price to sales
- 4.23
- EV/EBITDA 10.5
Strengths and risks
Strengths
- Practically debt-free.
- Quarterly profit up 45.1% on a year ago.
- Quarterly sales up 39.8% on a year ago.
- Net margin of 21.3%.
- P/E of 19.9 against an industry P/E of 77.3.
About Deep Industries
Deep Industries Limited provides oil and gas field services in India. The company offers gas compression; drilling and workover rigs; natural gas dehydration; integrated project management services, including surface hole drilling, air drilling, cementing, geophysical logging and wire line service, hydro fracturing, and coiled tubing; and charter hiring of gas processing services. It serves to oil and gas producers, public sector undertakings, private…
- Headquarters
- Ahmedabad
- Employees
- 838
- Sector
- Energy
- ISIN
- INE0FHS01024
- Website
- deepindustries.com
Price range
- Avg volume (3M)
- 4.1 L
- 1-year return
- plus 29.2%
- From 52-week high
- minus 22.2%
Peers · Oil & Gas E&P
| Company | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| DEEPINDSDeep Industries | 641.70 | plus 0.32% | 4,107 | 19.9 | 11.6 | 6.7% | 33.0% | 0.10 | 37.7% | plus 29.2% |
| ANTELOPUSAntelopus Selan Energy | 888.60 | plus 0.62% | 3,136 | 17.6 | 19.5 | 15.9% | 55.7% | 0.01 | 33.2% | plus 59.2% |
| PRABHAPrabha Energy | 198.71 | minus 0.73% | 3,102 | 2207.9 | – | 0.1% | 18.1% | 0.38 | −43.4% | minus 7.7% |
| HINDOILEXPHindustan Oil Exploration Company | 151.84 | minus 1.92% | 2,008 | 79.9 | 15.6 | 4.8% | 3.1% | 0.04 | −22.2% | plus 1.5% |
| GNRLGujarat Natural Resources | 10.82 | minus 11.31% | 1,660 | 77.3 | 152.9 | 6.5% | 46.5% | 0.06 | 31.9% | plus 3.7% |
| Median of 4 peers | – | −1.33% | 2,555 | 78.6 | 19.5 | 5.6% | 32.3% | 0.05 | 4.8% | 2.6% |
Quarterly results
| ₹ Cr | Jun 25 | Sep 25 | Dec 25 | Mar 26 | Jun 26 |
|---|---|---|---|---|---|
| 199 | 221 | 221 | 249 | 279 | |
| 131 | 144 | 137 | 182 | 187 | |
| 68.5 | 76.7 | 84.5 | 66.3 | 92.3 | |
| 34.4% | 34.7% | 38.2% | 26.6% | 33.1% | |
| 13.4 | 21.3 | 9.9 | 24.9 | 23.7 | |
| 4.1 | 6.5 | 4.3 | 2.7 | 4.3 | |
| – | – | – | −208 | – | |
| 77.9 | 91.5 | 90.1 | −120 | 112 | |
| 20.7% | 22.1% | 20.8% | 94.0% | 20.2% | |
| 58.8 | 67.4 | 68.1 | −14.4 | 85.4 | |
| 9.19 | 10.53 | 10.63 | -2.24 | 13.34 |
Profit & loss
- Sales CAGR 3Y
- +37.7%
- Profit CAGR 3Y
- +13.4%
- EPS CAGR 3Y
- +13.4%
- ROE
- 9.4%
| ₹ Cr | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| 341 | 427 | 576 | 891 | |
| – | +25.1% | +34.9% | +54.6% | |
| 204 | 260 | 565 | 677 | |
| 137 | 167 | 11.4 | 213 | |
| 40.3% | 39.0% | 2.0% | 23.9% | |
| 6.3 | 20.1 | 251 | 197 | |
| 3.2 | 7.2 | 10.5 | 14.1 | |
| 35.2 | 34.4 | 41.2 | 59.2 | |
| 46.4 | 8.7 | −251 | −197 | |
| 152 | 154 | −40.3 | 140 | |
| 17.4% | 18.6% | −95.5% | −41.1% | |
| 123 | 124 | −90.1 | 180 | |
| – | +0.4% | minus 172.7% | – | |
| 19.28 | 19.35 | -14.08 | 28.12 |
Forecast
Balance sheet
| ₹ Cr | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| 32 | 32 | 32 | 32 | |
| 1,338 | 1,411 | 1,788 | 1,967 | |
| 69.9 | 160 | 205 | 203 | |
| 147 | 308 | 368 | 393 | |
| 1,587 | 1,911 | 2,393 | 2,595 | |
| 642 | 814 | 954 | 1,143 | |
| 19.8 | 220 | 258 | 55.8 | |
| 1.1 | 1.1 | 1.2 | 1 | |
| 67.5 | 168 | 168 | 156 | |
| 857 | 709 | 1,011 | 1,239 | |
| 1,587 | 1,911 | 2,393 | 2,595 |
Cash flow
| ₹ Cr | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| 81.9 | 255 | 210 | 270 | |
| −102 | −317 | −248 | −233 | |
| 28.5 | 68.6 | 27.9 | −39.3 | |
| 8.3 | 6.7 | −9.7 | −1.9 | |
| −107 | −216 | −210 | −236 | |
| −25.3 | 38.3 | −0.1 | 33.6 | |
| −5.9 | −11.8 | −15.6 | −19.5 |
Shareholding pattern
- Promoters63.49%
- Public36.51%
| Quarter | Split | Promoters | Public | Promoter change |
|---|---|---|---|---|
| 30 Sep 2026 | 63.49% | 36.51% | 0.00 | |
| 30 Jun 2026 | 63.49% | 36.51% | 0.00 | |
| 31 Mar 2026 | 63.49% | 36.51% | 0.00 | |
| 31 Dec 2025 | 63.49% | 36.51% | 0.00 | |
| 30 Sep 2025 | 63.49% | 36.51% | – |
Major shareholders
Filings & events
News
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