Deep Industries Secures ₹83.81 Crore ONGC Contract for Gas Compression
Deep Industries Limited received a Letter of Award from ONGC for charter hiring services for gas compression. The contract, valued at ₹83.81 crores, is for three years at Lakhmani GGS-5, Assam Asset. This is a significant new order in the ordinary course of business.
The contract value of ₹83.81 crores is substantial and will contribute to the company's revenue over three years, impacting its financial performance.
The company has secured a new, significant contract from a major client, which is generally positive for business growth and revenue.
Deep Industries Limited has been awarded a significant contract by Oil and Natural Gas Corporation Limited (ONGC) for charter hiring services for gas compression. The contract is for services at Lakhmani GGS-5, Assam Asset and is set to span a period of three years.
The total estimated value of this award is approximately ₹83.81 crores. This contract falls within the ordinary course of Deep Industries' business operations and is with a domestic entity. The company has confirmed that its promoters or group companies do not have any interest in ONGC, and the contract does not fall under related party transactions.
This achievement underscores Deep Industries' continued role in supporting crucial energy infrastructure projects in India.
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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.