Deep Industries Secures ₹108 Crore Contract from GAIL for Compression Facility
Deep Industries Limited received an award from GAIL (India) Limited for hiring a Compression facility at RT-USAR Plant. The contract is valued at approximately ₹108 crores and is to be executed over 880 days.
The value of the contract (₹108 crores) is significant and will contribute to the company's revenue over the execution period, impacting its financial performance.
The company has secured a new order/contract, which is positive for its business and revenue prospects.
Deep Industries Limited has announced that it has received a Notification of Award / Fax of Acceptance from GAIL (India) Limited. This contract is for the hiring of a Compression facility at the RT-USAR Plant.
The total estimated value of this award is approximately ₹108 crores. The contract is to be executed within a period of 880 days and is considered to be in the ordinary course of business for the company. The awarding entity, GAIL (India) Limited, is a domestic entity, and Deep Industries Limited has confirmed that its promoters or group companies do not have any interest in GAIL, nor does this contract fall under related party transactions.
What to do with a filing like this
Deep Industries Limited filed this with the NSE as a statutory disclosure, categorised under new orders. It is a primary document, not a recommendation, and the desk marks it medium impact: worth reading, rarely worth acting on by itself.
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See the model portfoliosA plain-language summary of a public exchange filing by Deep Industries Limited. Read the original for the full detail.