Hi,
Does anyone knows if ONGC is still a client of Deep Industries or not? I am trying to find more information on Deep Industries in order to invest.
I looked at financials of Deep Industries and it looks good. See below. But I was not sure if there are any other issues with the company. So if anyone is tracking this company, can you please comment?
ONGC has banned Deep industries as a vendor for Gas dehydaration. Ban is applicable for around 2 years of which around 9 months have passed. Ban has been challenged in the court by deep industries but no hearing is taking plaace despite being assured by management during Q3 concall. A substantial part of there revenue comes from gas dehydaration of which again ONGC is a biggest client (around 70% orederbook). If deep loses the cases it will lose 2 projects and will have a liability oof Rs 67 crores. It has also opened a overseas subsidiary to tap the international market.
Hi Raj,
Able to pull out more details from the article? when i click for details in the website, it goes for login page.
Regards
Raghu
This is a paid site. I do not have access to it.
Regards,
Raj
Hi All,
I wanted to know view of the fellow members who are invested in this stock about the demerger plan of the company … Is it a value creation of value distortion plan ?
Company has a plan to demerge into two E&P and Service
Disclaimer : No Holdings , sold after Show cause notice from ONGC in last June.
Did anyone attend concall please
The demerger is positive news, but this new CBI case naming Deep as an accused…not sure what to make of it.
Correction in market cap after CBI case is around 150 crores… While the fraud was only 80 crores…
Even if the case is heard against Deep, the correction in stock price has been over exaggerated.
If anyone has any news from concall or management please post on the happenings
wow! never thought ivesting would be so simple. What happens to the biz model if the promoter goes to jail or the company gets banned permanently. This is an eelction year and you think govt would like to take any risk?
There are rumors of conflict of interest with some bigwigs(read political) in Andhra who are keen to take over the Rajamundry project at any cost.
Regards,
Raj
Any updates from the management of Deep Industries after CBI charges against ONGC?
serious lack of concern shown by the promoters towords minority shareholders. The least they could do was to conduct a concall to clarify some of the allegations put on them or atleast their stance.
Disc: Invested
I have dropped them a query.Waiting for reply on same
This appointment certainly gives me some relief and confidence in the company. Profile looks good.
Anyone any comments …
I am quite confused as to the reason behind the sudden board reshuffling. Can anyone share any insight?
Deep Industries will now submit only standalone numbers for three quarters and consolidated in last quarter
Deep Industries meeting scheduled for quarter results and fund raising
Anyone remember fund raising plans?
I assume this can be some sort of surprise in terms of international orders…
Let’s hope it’s Dubai subsidiary getting international orders…
Disclosure: 25% of portfolio
