TickerSutra

NSE: DEEPINDS · BSE: 543288 · ISIN INE0FHS01024

Deep Industries Limited stock analysis

Deep Industries Limited ranks #250 in the TickerSutra evidence-ranked universe with a score of 68/100 and 93% data confidence. The latest captured fundamentals show ROCE of 16.5%, quarterly sales growth of 39.8% and quarterly profit growth of 45.1%.
Complete evidence gate pass governance reviewUpdated 29 Sept 2026
TICKERSUTRA SCORE68/100

Watchlist candidate

#250 of 5,430 ranked equities
Market capitalisation₹5,238.68cr
ROCE16.5%
Quarterly sales growth39.8%
Quarterly profit growth45.1%
P/E ratio12.6×
Promoter pledge0.0%

INVESTMENT EVIDENCE

What supports—and challenges—the thesis

Evidence in favour

  • Low debt/equity of 0.1×
  • 37.7% three-year sales CAGR
  • CWIP indicates an active capacity pipeline
  • No promoter shares are reported as pledged

Risks and constraints

  • No calculated threshold risk in the current snapshot.

Still unresolved: Related-party exposure · Broad media sentiment

FINANCIAL TRAJECTORY

Recent operating history

PeriodRevenueOperating profitNet profitOperating margin
2022₹322cr₹116cr₹72cr36.0%
2023₹341cr₹131cr₹125cr38.0%
2024₹427cr₹167cr₹125cr39.0%
2025₹576cr₹241cr₹-79cr42.0%
2026₹891cr₹358cr₹197cr40.0%
TTM₹970cr₹382cr₹224cr39.0%
Debt / equity0.10×
CFO / EBITDA0.75×
Operating margin39.0%
Free cash flow₹53cr
Sales CAGR · 3Y37.7%
Profit CAGR · 3Y16.4%

EXCHANGE EVENT TRIGGERS

Latest corporate disclosures

0 positive catalysts0 negative catalysts2 routine filings

MANAGEMENT COMMENTARY

Signals from filed documents

Backward integrationHigh severity · 1 mention
Positive catalyst

With an addition into fleet, we are expecting some good amount of growth in Dolphin in FY28. With regards to Kandla, as I said before, we have taken that company for backward integration to improve on our operating margins. So probably on revenue side, we are not expecting much from Kandla going forward.

Export market updatesModerate severity · 2 mentions
Constructive

We are currently reviving the business of the company step by step and have put its DP2 barge, that is Prabha Barge into operations. We wish to explore both the national and international markets, keeping the current scenario in mind. We are pursuing a disciplined contract-backed fleet expansion strategy to ensure optimal capital allocation and minimal exposure.

Capacity expansion plansModerate severity · 1 mention
Positive catalyst

And I think these numbers can go up as well depending on the performance we do in current financial year. With regards to fundraise, as of now, we do not have a major capex plan. And since we are having debt -free on a net debt basis, probably our balance sheet support us for taking some debt as well in case of new capex.

Regulatory updatesModerate severity · 1 mention
Constructive

I'll give an idea about the domestic landscape. So here in India, the regulatory policy backdrop has shifted dramatically in favour of domestic exploration and production that is E&P players. Deep Industries Limited July 29, 2026 Page 3 of 20 The government strategy has undergone a fundamental transformation, pivoting from a revenue-sharing mindset to an aggressive exploration first agenda.

Margin expansionModerate severity · 3 mentions
Positive catalyst

Rohan Shah: We do not have ROCE data for individual verticals. But as a whole, we believe that going forward, ROCE would tend to improve because with contribution coming in from offshore and production enhancement with higher margins, overall return ratios will improve only. Yash: Understood Sir, Thank you so much.

HOW TO READ THIS PAGE

Evidence, freshness and limitations

What does the TickerSutra score mean?

The score ranks captured evidence across financial quality, growth, moat and margins, regulatory catalysts, governance, institutional trend and valuation comfort. It is a research-prioritization tool—not a buy recommendation or price target.

Which sources support this page?

Financial history, ownership and pledge data, NSE and BSE filings, annual reports and available earnings-call transcripts are combined here. Use the source trail and original exchange document before relying on a decision-critical fact.

Why can an item be unresolved?

Unresolved means the current captured source window did not provide enough evidence for that check. It does not establish that a risk or relationship is absent.

Maintained by TickerSutra Research · Snapshot updated 29 Sept 2026 · Read the methodology · Read the disclaimer

DIRECTOR & BUSINESS NETWORK

Loading corporate intelligence

Loading universe coverage and exchange-backed evidence…