Deep Industries Ltd

- No specific mention of new fundraising through debt or equity in the current or near future. - The company stated it is "fairly placed with our liquidity in hand," with "minimal debt equity" and is "net debt-free." - Management expressed confidence that funding capacity will not be a constraint for growth or order conversions. - Recent fundraising mentioned was the QIP of INR38.5 crores by Dolphin Offshore for refurbishing its barge asset. - No additional plans for raising equity or debt were discussed during the call.

- Deep Industries plans a capex of around INR100 crores for FY '24. - Current capex includes the acquisition of two drilling rigs and a few gas processing packages. - One rig is deployed at ONGC Bokaro, and the second will go to a client called Selan; both expected to start generating revenue in Q4 FY '24. - Additional capex is ongoing for gas compression services contract at ONGC Geleki. - Dolphin Offshore raised INR38.5 crores primarily for refurbishing a key barge asset to get it operational by January 2024. - The company is refurbishing this barge to change its jurisdiction for tax efficiency, aiming for near-zero tax. - No funding constraints anticipated as the company is net debt-free with good liquidity. - Strategic acquisition: Dolphin Offshore, enabling quicker market access to offshore services and diversification. - Ongoing investments in joint ventures; bids under evaluation with outcomes expected in coming months.

- The company expects significant revenue growth starting Q3 and Q4 FY '24 due to order book conversion and new contracts commencing revenue. - Order book stands at around INR1,190-1,200 crores with a typical three-year execution timeline. - FY '25 revenue is anticipated to exceed INR500 crores, supported by ongoing order book and Dolphin Offshore revenues. - The bidding pipeline is strong with about INR800 crores of tenders submitted, majority expected to convert in H2 FY '24. - Dolphin Offshore asset expected to begin generating revenue from Q4 FY '24, with potential full-year revenue of INR90-100 crores in FY '25. - Company expects to maintain EBITDA margins above 40% alongside revenue growth. - Capex of INR100 crores planned for FY '24 to support growth including acquisition of drilling rigs and gas processing packages.

- Deep Industries expects significant revenue growth starting Q3 and Q4 FY '24 due to order book conversion, with FY '25 revenues anticipated to exceed INR 500 crores. - Order book growth is strong with INR 1,195 crores, a 47% YoY increase, and a healthy INR 800 crores bidding pipeline expected to convert mainly in H2 FY '24. - EBITDA margins have been maintained above 40% historically, with confidence to sustain or improve margins going forward. - Dolphin Offshore is expected to contribute revenues starting Q4 FY '24, with forecasted full-year revenues of INR 90-100 crores in FY '25, and higher EBITDA margin (~60-70%) from its assets. - Company is net debt-free with sufficient liquidity, ensuring no funding constraints for growth. - Order inflows are expected to remain continuous and stable, unaffected by external factors like elections. - Overall, management is bullish on earnings and operational profit growth driven by strong order book execution and new asset contributions.

- Current order book stands at around INR 1,190 to INR 1,200 crores, spanning more than 40 different contracts with an average execution timeline of about three years. - The order book composition: approximately 45% gas compression, 39% rigs, and the remainder in integrated project management and gas dehydration. - ONGC contributes around 65% of the order book, followed by Vedanta and Oil India. - There is an additional bidding pipeline worth about INR 800 crores, mostly expected to convert in H2 FY24. - Order inflows in H2 are anticipated to be strong and likely in line with or higher than H1. - The company expects significant order book growth leading to top-line revenue growth from Q3 and Q4 onward.