Deep Industries sets record date for 1:2 stock split, scrip up over 650% in 3 years

With a market valuation of Rs. 838.88 crore, Deep Industries is a small-cap company with operations in the energy sector. The company is a top supplier of solutions for the energy industry. The organisation has competence in Integrated Project Management Services as well as Air & Gas Compression Services, Drilling and Workover Services, and Gas Dehydration Services. The corporation has established a record date for the 1:2 stock split.

“Pursuant to Regulation 42 of Securities and Exchange Board of India (Listing Obligation and Disclosure Requirements) Regulation, 2015, it is hereby informed that, the Board of Directors of the Company has passed the necessary Resolution through Circular Resolution Today i.e. on March 21, 2023 and has fixed the “Record date” on Monday, April 10, 2023 for the purpose of Sub-Division of every 1 (One) Equity Shares of the Nominal/ Face Value of Rs.10/ – (Rupees Ten Only) each into 2 (Two) Equity Shares of the Nominal I Face Value of Rs.5 /- (Rupees Five Only) each,” said Deep Industries in a stock exchange filing today.

During the quarter ended December 2022, the company recorded a net income of 100.02 Cr on a consolidated basis compared to 75.70 Cr recorded during the quarter ended December 2021. The company’s net expenses reached 66.23 Cr during Q3FY23 compared to 52.21 Cr reported in Q3FY22. Deep Industries said its EBIT stood at 33.78 Cr during Q3FY23 compared to 23.48 Cr reported during the year-ago quarter whereas its net profit reached 24.61 Cr during Q3FY23 compared to 17.02 Cr reported during the same quarter of FY22. The EPS of Deep Industries stood at 7.79 in Q3FY23 compared to 5.37 in Q3FY22.

The shares of Deep Industries closed today on the NSE at 262.40 apiece, up by 1.43% from the previous close of 258.70. The stock touched a 52-week-high of 322.00 on (24-Jan-2023) and a 52-week-low of 177.15 on (11-Aug-2022). The stock has produced a multibagger return of 537.67% over the past five years, and a multibagger return of 672.90% during the past three years. The stock has appreciated 35.01% over the past year, but on a year-to-date basis, it has plummeted 11.59% in 2023.



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