Deep Industries shares gain 3% after receiving Rs 83.8-crore LoA from ONGC
- June 22, 2026
- Posted by: Ankit Jaiswal
- Category: News
Deep Industries (NSE: DEEPINDS) Rs 495 (+1.63%), high Rs 503.65 (+3.41%) on 22 Jun 2026. Rs 83.81 Cr LoA from ONGC: gas compression at Lakhmani GGS-5, Assam, 3 years. Sales Rs 248.71 Cr Q4.
Deep Industries share price rose approximately 1.63% to Rs 495 on 22 June 2026 after the company received a Letter of Award (LoA) from Oil and Natural Gas Corporation Limited (ONGC) for charter hiring services for gas compression at the Lakhmani GGS-5 facility under ONGC’s Assam Asset. The Deep Industries share price touched an intraday high of Rs 503.65, up 3.41% from the previous close of Rs 487.05, before paring some gains. The LoA is valued at approximately Rs 83.81 crore and will be executed over three years. This contract adds to Deep Industries’ recurring revenue base from ONGC, India’s largest state-owned oil and gas company, and reinforces the company’s position as a key gas compression and oilfield services provider in ONGC’s upstream operations. The Deep Industries share price has recovered approximately 52% from its 52-week low of Rs 326.85 reached in March 2026.
Click Here – Get Free Investment Predictions
Deep Industries Share Price and LoA Details
| Deep Industries Share Price Data | 22 June 2026 |
|---|---|
| Deep Industries (NSE: DEEPINDS) | Rs 495 (LTP) | High Rs 503.65 (+3.41%) |
| Previous Close (19 Jun 2026) | Rs 487.05 |
| 52-Week Range | Rs 326.85 (Mar 2026 low) to Rs 578 (Sep 2025 high) |
| LoA Value | Rs 83.81 crore from ONGC |
| Contract Type | Charter hiring services for gas compression |
| Facility | Lakhmani GGS-5 (Gas Gathering Station) facility, ONGC Assam Asset |
| Duration | 3 years from award date |
| Classification | Ordinary course of business |
| Q4 FY26 Net Sales | Rs 248.71 crore (+48.72% YoY from Q4 FY25) |
| Q4 FY26 Net Loss | Rs 14.36 crore vs net loss Rs 209.17 crore in Q4 FY25, significantly improved |
| Business | Air and gas compression, drilling and workover, gas dehydration, integrated project management |
Deep Industries Wins ONGC Contract , Track It on Univest
When Univest analysts track contract-driven stock moves, investors act with confidence.
Our research team has shortlisted the Top Stocks to Buy based on current market momentum, sector trends & growth potential for 2026.
- Discover stocks investors are actively accumulating
- High-conviction opportunities backed by research
- Designed for the next phase of market growth
Unlock the latest Top Stock Picks on Univest
Deep Industries Share Price Gains on ONGC LoA: Contract Context and Significance
The Deep Industries share price reaction to the Rs 83.81 crore ONGC LoA reflects the cumulative confirmation that ONGC continues to award Deep Industries contracts for gas compression and related oilfield services across its upstream operations. Deep Industries has received multiple LoAs from ONGC over recent years, spanning gas compression, gas dehydration, drilling rigs and workover services across ONGC assets in Assam, Ahmedabad, Rajamundry and other basins. Each new LoA confirms Deep Industries’ technical capabilities and ONGC’s operational trust in the company. The Lakhmani GGS-5 contract is for gas compression at a Gas Gathering Station in ONGC’s Assam Asset, a key upstream oil and gas producing region in Northeast India.
Click Here – Get Free Investment Predictions
Deep Industries: Business Model and Financial Recovery Story
1. Specialised Oilfield Services Provider
Deep Industries Limited is a one-stop solution provider in oil and gas support services. Its core offerings include Air and Gas Compression Services (the segment relevant to the Lakhmani GGS-5 contract); Drilling and Workover Services using mobile drilling rigs; Gas Dehydration Services; and Integrated Project Management. The company deploys gas compression units, drilling rigs and dehydration equipment under long-term charter hire contracts, primarily to ONGC. This asset-heavy but recurring-revenue model means each new LoA from ONGC directly improves the Deep Industries share price revenue visibility and fleet utilisation rates.
2. Q4 FY26: Sales Up 48.7%, Losses Narrow Sharply
Deep Industries reported a significant financial recovery in Q4 FY26 (January to March 2026). Net sales jumped 48.72% year-on-year to Rs 248.71 crore. More importantly, the net loss narrowed dramatically to Rs 14.36 crore from Rs 209.17 crore in Q4 FY25, reflecting higher revenue, improved fleet utilisation and reduced exceptional charges. While Deep Industries remains loss-making at the PAT level, the trajectory is strongly positive. The Rs 83.81 crore ONGC LoA adds another three years of recurring gas compression revenue, further supporting the Deep Industries share price profitability recovery.
Download the Univest iOS App or Univest Android App to track this stock with live prices and research.
Research Deep Industries Share Price and Oil Services Stocks on the Univest Screener
Conclusion
The Deep Industries share price gained approximately 1.63% to Rs 495 on 22 June 2026 (intraday high Rs 503.65, +3.41% from June 19 close of Rs 487.05) after receiving an Rs 83.81 crore LoA from ONGC for charter hiring services for gas compression at the Lakhmani GGS-5 facility in ONGC’s Assam Asset. The 3-year contract adds to Deep Industries’ recurring revenue base. Q4 FY26 net sales were Rs 248.71 crore (+48.72% YoY) and net loss narrowed sharply to Rs 14.36 crore from Rs 209.17 crore. Consult a SEBI-registered financial advisor before investing.
Disclaimer: Data and figures in this article are sourced from publicly available information. These may or may not be accurate. Please verify all data with the official NSE (nseindia.com) and BSE (bseindia.com) websites before making any investment decision. Investments in securities are subject to market risk. This content is for educational purposes only and is not investment advice by Univest (SEBI RA INH000013776).
Why is Deep Industries share price rising today?
Ans. Deep Industries share price rose approximately 1.63% to Rs 495 on 22 June 2026, touching an intraday high of Rs 503.65 (+3.41%), after receiving a Letter of Award (LoA) from ONGC valued at approximately Rs 83.81 crore for charter hiring services for gas compression at the Lakhmani GGS-5 facility under ONGC’s Assam Asset for a period of three years. This contract strengthens Deep Industries’ recurring revenue base and confirms its ongoing role as a key ONGC service provider.
What is the Deep Industries ONGC contract?
Ans. Deep Industries received a Letter of Award (LoA) from ONGC for charter hiring services for gas compression at the Lakhmani GGS-5 (Gas Gathering Station) facility under ONGC’s Assam Asset. The contract is valued at approximately Rs 83.81 crore and will be executed over three years. Under the charter hiring arrangement, Deep Industries provides gas compression equipment and related services at the ONGC facility on a long-term lease basis, generating recurring revenue over the contract period.
What is Deep Industries’ business?
Ans. Deep Industries Limited is a specialised oilfield services company providing: Air and Gas Compression Services; Drilling and Workover Services (mobile drilling rigs for ONGC and other E&P companies); Gas Dehydration Services; and Integrated Project Management. Its primary client is ONGC and it has received multiple Letters of Award from ONGC across various assets in Assam, Ahmedabad, Rajamundry and other basins.
What are Deep Industries Q4 FY26 results?
Ans. Deep Industries reported strong Q4 FY26 (January to March 2026) results. Net sales jumped 48.72% year-on-year to Rs 248.71 crore. Net loss narrowed dramatically to Rs 14.36 crore from Rs 209.17 crore in Q4 FY25, reflecting higher revenue, improved fleet utilisation and reduced exceptional charges. While the company remains loss-making, the trajectory shows significant improvement.
What is Deep Industries share price 52-week range?
Ans. Deep Industries (NSE: DEEPINDS) has a 52-week high of Rs 578 reached on 3 September 2025 and a 52-week low of Rs 326.85 reached on 16 March 2026. At the LTP of Rs 495 on 22 June 2026, the Deep Industries share price is approximately 52% above the 52-week low and approximately 14% below the 52-week high.
How does the ONGC relationship benefit Deep Industries share price?
Ans. ONGC is Deep Industries’ primary client and the foundation of its business model. A strong ONGC contract pipeline means predictable multi-year revenues from long-term charter hiring agreements, high fleet utilisation rates across gas compression and drilling equipment, established trust that reduces bidding costs and sales cycle length, and direct exposure to India’s upstream oil and gas capex. Each new LoA from ONGC directly supports Deep Industries share price by extending revenue visibility.
Is Deep Industries share price a good buy after the ONGC LoA?
Ans. The Deep Industries share price at Rs 495 is approximately 1.63% above the 19 June 2026 close of Rs 487.05 and approximately 52% above the 52-week low of Rs 326.85. The Rs 83.81 crore ONGC LoA adds 3 years of recurring gas compression revenue and Q4 FY26 results show significant improvement. The company remains loss-making at the net level. Whether to buy at current levels depends on your assessment of the pace of profitability recovery. Consult a SEBI-registered financial advisor.
What is the charter hiring model Deep Industries uses with ONGC?
Ans. In the charter hiring model, Deep Industries owns gas compression equipment, drilling rigs or dehydration units and deploys them at ONGC’s facilities under a long-term hire agreement. ONGC pays a fixed charter hire rate to Deep Industries for using this equipment over the contract period, typically three years. This provides stable, recurring revenue tied to ONGC’s production operations. The Lakhmani GGS-5 contract follows the same model: Deep Industries provides gas compression services for 3 years at a total value of Rs 83.81 crore.
