Rs 1,210 Crore Order Book: Multibagger Small-Cap Company Bags Order Worth Rs 56,00,00,000 from ONGC; Must Watch
The stock has delivered a remarkable return of over 750 per cent in the past 3 years.
This Small-Cap company has announced that it has received an order from Oil and Natural Gas Corporation Limited (ONGC), Kakinada, for the "hiring of DPDU (GDU) to process gas" for 10 months. The total estimated value of this award is approximately Rs 56 crore. The order is expected to be executed within 10 months from the acceptance of mobilization and commencement of operations.
Deep Industries is in the business of oil and gas field services. The company specializes in providing air and gas compression services, drilling, and workover services, gas dehydration services, etc. Additionally, the company offers integrated project management services. The company was incorporated in 1991.
ONGC, a Large-Cap company, is one of India's biggest crude oil and natural gas companies, contributing around 71 per cent to Indian domestic production.
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On Wednesday, the company's stock closed at around Rs 274.40 per share, with a market capitalization of Rs 1756 crore. Additionally, the stock has delivered a multibagger return of around 754 per cent in 3 years.
In terms of shareholding pattern, as of March 2024, Deep Industries promoters maintain a steady 63.49 per cent stake in the company, reflecting their continued commitment to its growth trajectory. FIIs hold 1.82 per cent while public ownership stands at 34.67 per cent as per the recent update.
According to the Quarterly Results, in Q4 FY24, the company reported a revenue of Rs 120 crore and a net profit of Rs 37 crore. In FY24, the company reported a revenue of Rs 427 crore and a net profit of Rs 125 crore, compared to a net profit of Rs 125 crore in the previous year.
Investors must keep this small-cap multibagger stock on their radar.
Disclaimer: The article is for informational purposes only and not investment advice.
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