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Revenue
₹221.5 Cr
verification pending
Revenue YoY
43.1%
reported change
EBITDA
₹110.1 Cr
latest reported figure
Source
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record provenance
Actual signal trajectory
Where this quarter sits.
Quarter read
What the record says.
Deep Industries delivered a strong Q3 FY26 with revenue of ₹221.5 crore (+43.1% YoY), EBITDA of ₹110.1 crore (+46.3% YoY), and PAT of ₹71.3 crore (+49.8% YoY). EBITDA margin remained healthy at 47.6%. Growth was driven by volume expansion across onshore drilling, workover, gas processing, and the new production enhancement (PEC) contract, which contributed ~₹20 crore in the quarter. The order book stands robust at ₹2,967 crore, providing multi-year visibility. Management guided for 30-35% revenue growth in FY27, supported by a strong bidding pipeline (~₹800 crore) and new rig deployments. A gas leakage incident at the PEC site was contained within 5 days with no casualties, but will delay PEC revenue ramp-up by 2-3 months. Key risk: execution delays from the incident and potential provisioning on legacy receivables from the Kandla acquisition.
Colored figures show movement against the previous available record.
Guidance to track
- Based on existing order book and expected new orders, management is confident of 30-35% revenue growth in the next financial year.
- Production enhancement contract expected to generate around ₹150 crore per year on a full-year basis, likely reaching that level in FY27-28.
- The Kandla acquisition is expected to begin commercial contribution in the second half of FY27, with no major capex required.
- The company has paused the QIP process and will fund capex through internal accruals and debt, given comfortable leverage levels.
Risks flagged
- A gas leakage at the PEC site caused a temporary well shutdown; management expects a 2-3 month delay in revenue ramp-up from this contract.
- Kandla Energy still has ~₹28 crore doubtful receivables; management did not rule out future provisioning, though none expected this year.
- Major clients like ONGC and GAIL account for a large share of revenue; management acknowledged difficulty in diversifying away quickly.
- New rigs from China are being deployed; any delays or operational issues could impact Q4 revenue expectations.
Key quotes
- We are expecting around 150 cr on a year basis from this particular project.
- We are pretty confident that for next year also we would be having growth of more than 30-35%.
- We have a huge opportunity to raise debt as well as and when required. So largely we'll be able to manage without QIP.
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