Synopsis: Shares of Deep Industries Limited surged about 8% after the company signed an MoU with Advait Greenergy Private Limited to jointly pursue green hydrogen opportunities. The partnership aims to bid for hydrogen projects from major PSUs and energy firms in India and global markets.
The shares of this company, which are in the business of oil and gas field services and specialise in providing air & gas compression services, drilling and workover services, gas dehydration services, etc., were in momentum today after the company announced a partnership with Advait Greenergy Private Limited to jointly pursue opportunities in green hydrogen projects.
With a market cap of Rs 2,200 crore, the shares of Deep Industries Ltd jumped about 8% in today’s trading session and reached a high of Rs 358.75. When compared to its previous day’s closing price of Rs 331.60. The shares are trading at a PE of 9.52, whereas their industry’s PE is at 9.16, and they have given a return of about 1500% in the last 5 years.
About the MOU
Deep Industries Limited has signed a Memorandum of Understanding (MoU) with Advait Greenergy Private Limited to jointly pursue opportunities in green hydrogen projects. The joint venture will enable the companies to bid for and undertake hydrogen projects tendered by government organisations, public sector undertakings, and private entities in India and abroad.
As part of the MoU, the two companies will jointly work on the preparation of technical bids and financial bids, as well as the execution of projects in case of successful bidding. The joint venture will target opportunities from large energy companies and PSUs such as NTPC, SECI, IOC, HPCL, BPCL, and GAIL, and other utilities and organisations. The joint venture enables the two companies to tap into each other’s strengths in energy infrastructure and renewable energy technologies.
The MoU is valid for a period of two years from the date of execution, with a possibility of extension as mutually agreed. No consideration has been paid for the joint venture, and the transaction is not considered a related-party transaction. The move is part of Deep Industries’ plans to diversify into new clean energy opportunities and tap into the rising green hydrogen market.
Financials and more
The revenue from operations for the company stood at Rs 222 crore in Q3 FY26 compared to the Q3 FY25 revenue of Rs 155 crore, up by about 43 per cent YoY. Similarly, the net profit stood at Rs 71 crore in Q3 FY26, up compared to the Rs 48 crore profit in Q3 FY25.
Deep Industries Limited has a broad spectrum of prestigious clients in the oil, gas, and energy industries, which is a testament to its excellent industry reputation and technical expertise. The list of its clients comprises major public and private sector companies like Oil and Natural Gas Corporation, Oil India Limited, Reliance Industries Limited, GAIL (India) Limited, and Essar Oil. The presence of such large energy companies in its client list indicates the long-term relationships that the company has been able to establish in the energy industry.
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