Ahmedabad, January 30, 2025 – Deep Industries Limited, a leading provider of oil and gas field services, announced its unaudited standalone and consolidated financial results for the quarter and nine months ended December 31, 2024.
Financial Highlights (Standalone)
| (₹ in Lakhs) | Q3 FY2025 | Q2 FY2025 | Q3 FY2024 | 9M FY2025 | 9M FY2024 | FY2024 |
|---|---|---|---|---|---|---|
| Revenue from Operations | 12,004.58 | 10,937.07 | 9,591.10 | 32,874.64 | 27,659.63 | 38,190.39 |
| Total Income | 12,975.73 | 11,898.37 | 10,620.30 | 36,814.04 | 28,273.40 | 40,796.72 |
| Profit Before Tax (PBT) | 4,662.04 | 3,995.55 | 3,286.45 | 12,647.57 | 9,705.54 | 13,079.43 |
| Net Profit | 3,772.49 | 2,979.31 | 2,425.69 | 9,289.81 | 7,185.04 | 10,425.23 |
| Earnings Per Share (EPS) (₹) | 5.12 | 4.65 | 3.79 | 14.52 | 11.23 | 16.29 |
Financial Highlights (Consolidated)
| (₹ in Lakhs) | Q3 FY2025 | Q2 FY2025 | Q3 FY2024 | 9M FY2025 | 9M FY2024 | FY2024 |
|---|---|---|---|---|---|---|
| Revenue from Operations | 15,482.87 | 13,061.53 | 10,491.13 | 40,896.58 | 30,742.23 | 42,699.37 |
| Total Income | 16,335.41 | 11,773.12 | 11,383.05 | 45,388.30 | 33,177.78 | 46,362.58 |
| Profit Before Tax (PBT) | 6,159.48 | 5,128.27 | 3,724.74 | 16,198.41 | 11,414.05 | 15,878.70 |
| Net Profit | 4,761.36 | 4,154.82 | 2,794.36 | 12,790.48 | 8,848.33 | 12,515.53 |
| Earnings Per Share (EPS) (₹) | 6.81 | 6.00 | 4.37 | 18.60 | 11.83 | 19.56 |
Corporate Developments & Strategic Investments
- Acquisition of Deep Exploration Services Pvt. Ltd.
- On January 15, 2025, Deep Industries acquired 100% equity in Deep Exploration Services (formerly Indra Offshore Services Pvt. Ltd.), strengthening its offshore capabilities.
- Acquisition of Dolphin Offshore Shipping Ltd.
- On January 21, 2025, wholly-owned subsidiary Deep Onshore Services Pvt. Ltd. acquired 100% stake in Dolphin Offshore Shipping Ltd. as per the approved resolution plan by the NCLT, Mumbai Bench, enhancing its marine operations.
- Acquisition of Kandla Energy and Chemicals Ltd.
- Deep Onshore Services received a sale certificate from IBBI for Kandla Energy and Chemicals Ltd. on August 1, 2024, pending NCLT approval.
Management Commentary
Paras Savla, Chairman & Managing Director, Deep Industries Limited, commented:"We are pleased to report another quarter of strong growth, driven by strategic acquisitions and operational efficiencies. Our recent acquisitions strengthen our presence in offshore services and support our long-term vision of expanding across the oil and gas sector. The company remains committed to value creation for shareholders and continuous business expansion."
Strategic Outlook
- Expansion into Offshore Services:
The company is leveraging its acquisitions to increase its footprint in offshore exploration and shipping services. - Strong Order Book & New Contracts:
Deep Industries has a healthy pipeline of contracts, positioning itself for sustained growth. - Focus on Operational Efficiency:
Cost optimization and higher margins are key priorities for FY2025.
Conclusion
With strong revenue growth, improved profitability, and strategic acquisitions, Deep Industries Limited continues to solidify its position as a key player in India's oil and gas field services sector. Investors can expect steady growth and operational expansion in the coming quarters.
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