Deep Industries Limited is likely to remain in focus after receiving a Letter of Award (LoA) from Oil and Natural Gas Corporation (ONGC) for providing gas compression services at the Lakhmani GGS-5, Assam Asset, according to the company’s exchange filing.
The contract is valued at approximately ₹83.81 crore and will be executed over a three-year period.
ONGC Awards Gas Compression Contract
The contract involves the charter hiring of gas compression services for ONGC’s Lakhmani GGS-5 facility in Assam.
Key highlights:
- Client: Oil and Natural Gas Corporation (ONGC)
- Project: Charter hiring services for gas compression
- Location: Lakhmani GGS-5, Assam Asset
- Contract Value: Approximately ₹83.81 crore
- Execution Period: 3 years
Scope of Work
Under the agreement, Deep Industries will provide gas compression services required for ONGC’s operations at the Assam asset.
The company stated that the contract falls within its ordinary course of business and further strengthens its presence in India’s oil and gas services sector.
Regulatory Compliance
Deep Industries clarified in its exchange filing that:
- The contract has been awarded by a domestic entity.
- It does not constitute a related-party transaction.
- The promoter group has no interest in ONGC.
The disclosure was made by Shilpa Sharma, Company Secretary and Compliance Officer.
Strategic Importance
The new order:
- Enhances Deep Industries’ order book.
- Provides stable revenue visibility over the next three years.
- Reinforces the company’s long-standing relationship with ONGC.
- Strengthens its position in the gas compression and energy services segment.
Share Price Performance
As of June 19, 2026, Deep Industries shares closed on the NSE at:
- Closing Price: ₹487.05
- Change: -1.06% from the previous close
The stock is expected to remain on investors’ radar as the market evaluates the impact of the new contract on the company’s future revenues.
Conclusion
Deep Industries has secured an ₹83.81 crore contract from ONGC to provide gas compression services at the Lakhmani GGS-5, Assam Asset. The three-year domestic contract adds to the company’s order pipeline and supports its core oil and gas services business while involving no related-party transactions.
Disclaimer:
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