Deep Industries Secures ₹88.15 Crore Gas Compression Order from ONGC
Deep Industries Limited received a Letter of Award from ONGC for gas compression services at Balol GGS-1, Mehsana. The contract is for three years and valued at approximately ₹88.15 crores.
The order value of ₹88.15 crores is significant and will contribute to the company's revenue over three years, but it does not represent a transformative change in business scale.
The company has secured a new order from a major public sector undertaking, which is positive for its business.
Deep Industries Limited has announced that it has received a Letter of Award from Oil and Natural Gas Corporation Limited (ONGC) for the hiring of gas compression services. The contract is for the Balol GGS-1, Mehsana asset and has a duration of three years.
The total estimated value of this award is approximately ₹88.15 crores. This contract is considered to be in the ordinary course of business for Deep Industries Limited. 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.
Rohan Vasantkumar Shah, Whole-time Director & Chief Financial Officer, conveyed this information to the exchanges.
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.