Deep Industries Secures ₹49.10 Crore ONGC Contract for Gas Compression
Deep Industries Limited received a Letter of Award from ONGC for natural gas compression services. The contract, valued at ₹49.10 crores, is for five years at the Paliyad of Ahmedabad asset.
The contract value of ₹49.10 crores is significant and will contribute to the company's revenue over five years, impacting its financial performance.
The company has secured a new order from a major client, ONGC, which is a positive development for its business.
Deep Industries Limited has announced receiving a Letter of Award from Oil and Natural Gas Corporation Limited (ONGC) for charter hiring services for Natural Gas Compression. The contract is for the GGS Paliyad of Ahmedabad asset and is for a duration of five years.
The total estimated value of this significant award is approximately ₹49.10 crores. This contract is considered to be in the ordinary course of business for Deep Industries Limited, and there is no interest from promoters or promoter group in ONGC. The company has confirmed that this contract does not fall under related party transactions.
This award signifies a substantial new order for the company, reinforcing its position in the energy services sector.
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.