Deep Industries posts 40% revenue growth in Q1; board approves dividend, ESOP
The oilfield services firm reported ₹279 cr revenue and ₹85.4 cr profit for the June quarter, matching prior estimates. Order book at ₹3,000 cr provides multi-year visibility.
— 5 earlier stories on Deep Industries Ltd. →What's new
- Board approved Q1 FY27 results: revenue ₹279 cr (+40% YoY), net profit ₹85.4 cr (+45% YoY).
- Record date for FY26 final dividend set as August 21; ESOP scheme for up to 15 lakh shares approved.
- Rajeev Kumar Sinha appointed senior management; company secretary Shilpa Sharma resigned.
Why this matters
Deep Industries' strong growth trajectory continues, driven by its dominant position in oil and gas services. An order book of ₹3,000 cr provides multi-year visibility. However, client concentration on ONGC remains a key risk.
What we're watching
- Execution pace on the ₹3,000 cr order book.
- Any new contract wins, especially outside ONGC.
- Potential dilution from the ESOP scheme.
The full read
Deep Industries' Q1 FY27 numbers were already disclosed in a July 28 press release, so this board meeting outcome is a formal confirmation. Revenue climbed 40% to ₹279 crore and net profit 45% to ₹85.4 crore, matching the earlier release. The order book of ₹3,000 crore remains a standout. The board also set August 21 as the record date for the FY26 final dividend, approved an ESOP (up to 15 lakh shares), and made a routine management change. For a stock already pricing in strong growth, nothing here is new. The real question is how much of the order book converts to revenue and whether the reliance on ONGC (over half of revenue) will ease. A solid quarter, but the market has already moved on.
Questions answered
- What were the key financial highlights for Q1 FY27?
- Consolidated revenue was ₹279 crore, up 40% year-on-year. Net profit attributable to owners was ₹85.4 crore, a 45% rise. The company is India's only integrated onshore and offshore oil and gas services provider.
- What is the size and visibility of the order book?
- The order book stood at approximately ₹3,000 crore at end-June, offering multi-year revenue visibility. This is significant against the annualized revenue run-rate.
- When is the record date for the final dividend, and what is the dividend amount?
- The record date is August 21. The filing does not specify the dividend per share, only that the final dividend for FY26 has been approved.
- Why did the company secretary resign?
- The filing accepts the resignation of Shilpa Sharma as company secretary. No reason was provided; such resignations are routine and not unusual.
- How reliant is Deep Industries on ONGC?
- ONGC accounts for over half of consolidated revenue, indicating high client concentration. This is a notable risk but also reflects a strong relationship with the largest Indian oil explorer.
- What is the ESOP scheme approved?
- The board approved an employee stock option plan covering up to 15 lakh shares. Specific terms were not disclosed in the filing but the scheme is meant to incentivize employees.
Deep Industries Ltd.
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All notes on DEEPINDS →- 28 Jul 2026 · 2:13 PM IST Deep Industries posts 40% revenue growth in Q1; board approves dividend, ESOP
- today Deep Industries Q1 profit ₹89 cr; revenue jumps 40% to ₹279 cr
- today Deep Industries kicks off FY27 with 40% revenue growth, ₹3,000 cr order book
- 21d ago Deep Industries lands ₹49 cr ONGC gas compression deal
- 38d ago Deep Industries locks in ₹84 cr ONGC gas compression contract