Multibagger stock rallies 780 per cent, declares stock split with a 76 per cent surge in order book!
This is reflected in our strong order book, which currently stands at Rs 976 crore up 76% YoY. With a thriving bidding pipeline, future demand looks promising
Deep Industries Limited (DIL), is a leading solutions provider in energy sector. DIL is specialized in providing Gas Compression Services, Drilling Rigs and Workover Rigs Services, Gas Dehydration Services, and having expertise in Integrated Project Management Services. The Company has grown up to be a "One Stop Solution" provider for every need in Oil and Gas field operations by providing various equipment and services under rental and chartered-hire basis.
Company announced its financial results for the quarter ended December 31, 2022. Revenue jumped 30 per cent YoY to Rs 98 crore. EBITDA jumped 41 per cent YoY to Rs 41.69 crore and EBITDA margin stood at 41.69 per cent. Profit after tax reported a growth of a staggering 45 per cent YoY to Rs 24.93 crore. While there is not doubt that the performance standouts, but what’s more intriguing is that the Company at its board meeting held today has accorded its approval for subdivision/stock split.
The board has announced a sub-division of 1 equity share having a face value of Rs 10 each into 2 equity shares having a face value of Rs 5 each.
Paras Savla (Chairman & Managing Director) said “Indian government is focussed on increasing gas usage in the energy basket from the current 6 per cent to 15 per cent by 2030. At the same time, the focus has been brought to revive the domestic production of gas which was in decline since 2012. All these efforts are yielding results and gas production in India is slated to increase by 18 per cent CAGR till FY25E. This is reflected in our strong order book, which currently stands at Rs 976 crore up 76% YoY. With a thriving bidding pipeline, future demand looks promising and our debt-free, well-funded status positions us for success. With the acquisition of Dolphin, the group is set to expand its services portfolio to the offshore segment. Now we are in a position to give service to our clients both onshore and offshore from exploration to production and processing. With multiple growth factors in action, we anticipate substantial growth ahead. Our revenue outlook is positive, and we anticipate robust interest in our offerings.”
Talking about the stock performance, the stock has jumped 780 per cent from its opening level of April 2021. Hence, the stock has provided multibagger returns. Keep the stock on your radar!