1100 per cent returns: This multibagger stock bags a new order worth Rs 108 crore; reports impressive quarterly results!

Shares of the company have gained about 90 per cent in the last six months.

Deep Industries Limited informed in the exchange filing that the company has received a letter of award from Oil and Natural Gas Corporation Limited for Charter Hiring of HP compressors at GCP Geleki, Assam for a period of 3 years. The company shall provide HP compressors comprising of two running and one Standby unit. The order is worth Rs 108 crore.

The company posted strong Quarterly Results. The revenue of the company for Q1FY24 stood at Rs 101.32 crore which grew by 38.51 per cent YoY. The operating profit of the company stood at Rs 48.60 crore, while the PAT of the company stood at Rs 31.02 crore, representing a growth of 58.96 per cent YoY.

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Shares of Deep Industries Limited have also delivered multibagger returns to its shareholders in the last one year. During this period, the company’s share price jumped from Rs 122.63 on September 26, 2022, to Rs 256.65 on September 22, 2023, an increase of about 100 per cent in a one-year holding period. While in the last five years, the stock has gained over 1,148 per cent.

Deep Industries Limited is engaged in the business of oil and gas field services. The company specializes in providing air & gas compression services, drilling and workover services, gas dehydration services, etc. The company also provides integrated project management services.  

The stock has shown tremendous growth and investors should keep a close eye on this stock.

Disclaimer: The article is for informational purposes only and not investment advice.