Deep Industries Q2 FY26: Capex ₹600 Cr
Q2 FY26 earnings call: what management said on revenue, margins and capex.
- Revenue
- ₹221Cr
- +68.7% YoY
- Net profit
- ₹71Cr
- +69% YoY
- Margin
- 41%
- −3 pp YoY
Guidance rank: #2 of 10 in Oil
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The short version
Deep Industries expects consolidated revenue growth of more than 35% year-on-year for FY26, potentially higher depending on new assets and contracts. For FY26, Deep Industries expects revenue growth of more than 35% YoY, with potential to exceed this figure.
From Deep Industries's Q2 FY26 earnings-call transcript · updated 26 Aug 2026.
Revenue & Sales Performance
- Deep Industries expects consolidated revenue growth of more than 35% year-on-year for FY26, potentially higher depending on new assets and contracts. (Page 9, 16)
- Production Enhancement Contract (PEC) revenue is anticipated at around Rs. 140 crores for FY26, with strong margin (~50% EBITDA). (Page 6, 13)
- Dolphin Offshore is expected to grow over 40% YoY, targeting Rs. 100 crores top line in FY26 with asset additions planned. (Page 16)
- Additional rigs and assets added in current year will contribute fully from next financial year, supporting 35%-38% growth in FY27. (Page 7, 16)
- H2 FY26 is expected to have higher growth than H1, with overall continuous momentum. (Page 16)
2 more points from Deep Industries's call on revenue
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Profitability & Margins
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Capital Expenditure Plans
- The company is planning a total CAPEX of ₹600 crores, with ₹100 crores already spent and the balance to be incurred in the future, including CAPEX for production and contract-related activities.
- A ₹300 crore QIP fundraise is underway to support this CAPEX as well as to strengthen the balance sheet and be prepared for potential acquisitions.
- The CAPEX focuses on expansion, acquisition of new assets, and production enhancement contracts.
2 more points from Deep Industries's call on capex
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Top-ranked in Oil
Ranked on what management guided this quarter
Rank buckets describe management commentary on revenue and margin. Not investment advice, and not a forecast of returns.
Fundraising & Capital Structure
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Order Book & Pipeline
- As of November 2025, Deep Industries' total order book has crossed Rs. 3,050 crores.
- Out of this, Rs. 1,300+ crores relate to a 15-year production enhancement contract (PEC).
- Excluding the PEC, about Rs. 1,650 crores of orders are executable over the next 2.5 years.
- There is a bidding pipeline close to Rs. 700 crores, with a substantial portion expected to convert.
- The company witnesses continuous bidding activity, indicating dynamic order inflow.
2 more points from Deep Industries's call on order book
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Deep Industries — Quarterly revenue & net profit
Deep Industries Q2 FY26 results — key figures
| ₹ Cr | Q2 FY26 | Q2 FY25 | YoY | Q1 FY26 | QoQ |
|---|---|---|---|---|---|
| Revenue | 221 | 131 | +68.7% | 200 | +10.5% |
| Operating profit (EBITDA) | 92 | 57 | +61.4% | 82 | +12.2% |
| Operating margin | 41% | 44% | -3 pp | 41% | 0 pp |
| Profit before tax | 91 | 51 | +78.4% | 78 | +16.7% |
| Net profit (PAT) | 71 | 42 | +69% | 62 | +14.5% |
| EPS (₹) | 10.53 | 6.00 | +75.5% | 9.19 | +14.6% |
Source: reported quarterly figures (Screener), ₹ crore.
Reported quarterly figures (₹ Cr). Latest (Q2 FY27): revenue ₹295 Cr, net profit ₹81 Cr. Revenue and profit are scaled separately — hover a quarter for exact figures.
Full financials →Continue your research
What Deep Industries's management said in earlier quarters
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Potential multibaggers · Q2 FY27
Potential multibaggers in Oil
on management's own guidance
- 2
- Strong growth1
- Aegis Vopak TermGood growth3
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Ranks describe management commentary on revenue and margin from the latest earnings call. Not investment advice.
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Frequently Asked Questions
What were Deep Industries Q2 FY26 results?
Deep Industries expects consolidated revenue growth of more than 35% year-on-year for FY26, potentially higher depending on new assets and contracts. For FY26, Deep Industries expects revenue growth of more than 35% YoY, with potential to exceed this figure.
What is Deep Industries share price analysis?
Deep Industries currently shows a neutral. The stock trades at a P/E of 10.6 with a market cap of ₹4,404 Cr. Investors should review the full earnings analysis for detailed insights.
Is Deep Industries planning capital expenditure?
The company is planning a total CAPEX of ₹600 crores, with ₹100 crores already spent and the balance to be incurred in the future, including CAPEX for production and contract-related activities.
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This analysis is AI-generated based on publicly available earnings data and the company's earnings call transcript. This is not investment advice. Please consult a SEBI-registered advisor before making investment decisions.