Integrated Filing — IndAS



General information about company

Scrip Code 543288
NSE Symbol DEEPINDS
MSEI Symbol NOTLISTED
ISIN INEOFHS01024
Name of company DEEP INDUSTRIES LIMITED
Type of company Main Board
Class of security Equity
Date of start of financial year 01-04-2025
Date of end of financial year 31-03-2026
Date of board meeting when results were approved 14-05-2026
Date on which prior intimation of the meeting for considering financial results was informed to the exchange 07-05-2026
Description of presentation currency INR
Level of rounding used in financial results Lakhs
Reporting Type Half Yearly
Reporting Quarter Yearly
Nature of report standalone or consolidated Consolidated
Whether results are audited or unaudited for the quarter ended Audited
Whether results are audited or unaudited for the Year to date for current period ended/year ended Audited
Segment Reporting Single segment
Description of single segment Onshore Oil and Gas Field services
Start date and time of board meeting 14-05-2026   17:00:00
End date and time of board meeting 14-05-2026   18:05:00
Whether cash flow statement is applicable on company Yes
Type of cash flow statement Cash Flow Indirect
Declaration of unmodified opinion or statement on impact of audit qualification Declaration of unmodified opinion



Financial Results Ind-AS

Amount in (Lakhs)

Particulars 3 months/ 6 months ended (dd-mm-yyyy) Year to date figures for current period ended (dd-mm-yyyy)
A Date of start of reporting period 01-10-2025 01-04-2025
B Date of end of reporting period 31-03-2026 31-03-2026
C Whether results are audited or unaudited Audited Audited
D Nature of report standalone or consolidated Consolidated Consolidated
1 Income
Revenue from operations 24,870.59 89,071.39
Other income 2,493.51 6,954.15
Total income 27,364.10 96,025.54
2 Expenses
(a) Cost of materials consumed 12,296.20 40,015.15
(b) Purchases of stock-in-trade 0.00 0.00
(c) Changes in inventories of finished goods, work-in-progress and stock-in-trade (5.35) 0.00
(d) Employee benefit expense 1,850.94 7,811.80
(e) Finance costs 267.49 1,763.55
(f) Depreciation, depletion and amortisation expense 1,564.00 5,923.01
(f) Other Expenses
1 Other Expenses 2,537.37 5,716.92
Total other expenses 2,537.37 5,716.92
Total expenses 18,510.65 61,230.43
3 Total profit before exceptional items and tax 8,853.45 34,795.11
4 Exceptional items (20,828.49) (20,828.49)
5 Total profit before tax (11,975.04) 13,966.62
6 Tax expense
7 Current tax (8,161.97) (3,494.21)
8 Deferred tax (3,091.18) (2,245.16)
9 Total tax expenses (11,253.15) (5,739.37)
10 Net movement in regulatory deferral account balances related to profit or loss and the related deferred tax movement 0.00 0.00
11 Net Profit Loss for the period from continuing operations (721.89) 19,705.99
12 Profit (loss) from discontinued operations before tax 0.00 0.00
13 Tax expense of discontinued operations 0.00 0.00
14 Net profit (loss) from discontinued operation after tax 0.00 0.00
15 Share of profit (loss) of associates and joint ventures accounted for using equity method 0.00 0.00
16 Total profit (loss) for period (721.89) 19,705.99
17 Other comprehensive income net of taxes 1,064.36 1,824.66
18 Total Comprehensive Income for the period 342.47 21,530.65
19 Total profit or loss, attributable to
Profit or loss, attributable to owners of parent (1,435.88) 17,993.86
Total profit or loss, attributable to non-controlling interests 713.99 1,712.13
20 Total Comprehensive income for the period attributable to
Comprehensive income for the period attributable to owners of parent (371.52) 19,818.52
Total comprehensive income for the period attributable to owners of parent non-controlling interests 713.99 1,712.13
21 Details of equity share capital
Paid-up equity share capital 3,200.00 3,200.00
Face value of equity share capital 5 5
27 Details of debt securities
22 Reserves excluding revaluation reserve 1,96,716.28
23 Earnings per share
i Earnings per equity share for continuing operations
Basic earnings (loss) per share from continuing operations -2.24 28.12
Diluted earnings (loss) per share from continuing operations -2.24 28.12
ii Earnings per equity share for discontinued operations
Basic earnings (loss) per share from discontinued operations 0 0
Diluted earnings (loss) per share from discontinued operations 0 0
ii Earnings per equity share
Basic earnings (loss) per share from continuing and discontinued operations -2.24 28.12
Diluted earnings (loss) per share from continuing and discontinued operations -2.24 28.12
24 Debt equity ratio
25 Debt service coverage ratio
26 Interest service coverage ratio
27 Disclosure of notes on financial results Textual Information(1)



Disclosure of notes on financial results

Textual Information(1) 1 The above audited consolidated financial results for the quarter ended March 31, 2026 and Year to Date from April 01,2025 to March 31,2026 (“the Statement”) were reviewed by the Audit Committee and subsequently approved by the Board of Directors at their respective meetings held on May 14,2026. 2 The above consolidated financial results for the quarter ended March 31, 2026 and Year to Date from April 01, 2025 to March 31, 2026 (“the Statement”) have been prepared in accordance with Indian Accounting Standards as prescribed under Section 133 of the Companies Act, 2013 read with the Companies (Indian Accounting standards) Rules as amended from time to time and other relevant provisions of the Act. 3 The statutory auditors of the company have carried out Audit of aforesaid results as per Regulation 33 of the SEBI (Listing Obligation and Disclosure Requirements) Regulations, 2015. 4 Group is required to disclose segment information based on the “Management approach” as defined in IND AS 108- Operating Segments, which is how the Chief Operating Decision Maker (CODM) evaluates the Group’s performance and allocates resources based on the analysis of the various performance indicators. CODM reviews the results of the Group engaged in the business of “Oil and Gas Field services” and “Oil and Gas Offshore Support Service”. Accordingly, Group as a whole is a single segment. Hence no separate disclosure has been made. 5 The Board of Directors of the Company in its meeting held on Monday, June 30, 2025, had approved the Scheme of Amalgamation under Sections 230-232 of the Companies Act, 2013 and in the matter of Scheme of Amalgamation of Kandla Energy & Chemicals Limited (“KECL”)- Wholly owned Subsidiary with and into Deep Industries Limited (“DIL”) and their respective shareholders and creditors. The aforesaid Scheme was sanctioned by Hon’ble National Company Law Tribunal (NCLT) Ahmedabad Bench vide order no. C.P.(CAA)/53 (AHM)2025 dated March 23, 2026. The Scheme has become effective from March 30, 2026 upon filing of the certified copy of the orders passed by NCLT with the relevant Registrar of Companies in Form INC-28 on March 30, 2026. The accounting treatment has been carried out in accordance with applicable Indian Accounting Standards (Ind AS), including principles prescribed under Ind AS 103. The Appointed Date of the Scheme is March 31, 2025. 6 The Step down Subsidiary Company has incorporated a wholly owned subsidiary “Beluga International (IFSC) Private Limited. The Company received certificate of incorporation on March 9, 2026, however the approval of IFSC is still pending. The authorized share capital of company is Rs. 2,00,00,000 divided into Rs. 2,00,00,000 share of Rs. 1 each. The company is still in the process of opening the subsidiary Company’s bank account accordingly the paid-up capital has not yet been infused. Expenses of incorporation done by holding Company stands as receivable in books of accounts. 7 Consolidated Trade Receivables includes old trade receivables of Dolphin offshore Group of Rs. 14,100.00 Lakhs and Dolphin Offshore Shipping Limited of Rs. 2,011.22 Lakhs pertains to old outstanding from erstwhile business before acquisition of the group totalling to Rs. 16,111.22 Lakhs, The same has been kept receivable considering its recoverability based on our best assessment and arbitration awards in our favor. 8 In standalone and consolidated financial results Exceptional item for the quarter and year ended March 31, 2026 of Rs. 20,828.49 Lakhs represents; One time loss due to cleaning up exercise post merger of Kandla Energy and Chemicals Ltd. Following the acquisition of the Kandla Energy and Chemicals Limited (Kandla) in March, 2025, management adopted a conservative accounting approach regarding inherited trade receivables, the company deferred the recognition of certain legacy receivables pending a full recoverability assessment. We initiated a comprehensive, 12-month reconciliation and recovery program to validate the collectability of these old trade receivables. After a year of intensive collection efforts and due diligence, it was determined that these old trade receivables do not meet our criteria for realization. Consequently, to ensure a transparent and high-quality balance sheet, as a part of our balance sheet strengthening exercise the company has elected to write off these legacy trade receivables. This non-recurring and non-cash adjustment reflects our commitment to financial discipline. For Y-o-Y comparison purpose, if we consider PAT and EPS without considering this exceptional item the same will be as follows: Particulars Consolidated Year ended 31-Mar-26 31-Mar-25 Profit/(Loss) before exceptional items and tax (Rs. In Lakhs) 34,795.11 21,077.48 Net Profit/(Loss) for the period/year before Exception Items (Net of Tax)-Owners (Rs. In Lakhs) 33,580.44 9,776.92 EPS Before Exception Item 52.47 15.28 9 The Consolidated financial results for the quarter ended March 31, 2026 and March 31, 2025 are the balancing figures between the audited figures in respect of the full financial year and published year to date figures of the third quarter of the respective financial year which were subject to limited review by Auditors. 10 The figures for the corresponding previous periods have been regrouped/rearranged wherever necessary, to make them comparable. For, Deep Industries Limited Date: May 14,2026 Paras Shantilal Savla Place: Ahmedabad Chairman & Managing Director



Remarks

Debt equity ratio
Debt service coverage ratio
Interest service coverage ratio


Statement of Asset and Liabilities

Amount in (Lakhs)

Particulars Year ended (dd-mm-yyyy)
Date of start of reporting period 01-04-2025
Date of end of reporting period 31-03-2026
Whether results are audited or unaudited Audited
Nature of report standalone or consolidated Consolidated
Assets
1 Non-current assets
Property, plant and equipment 1,08,704.89
Capital work-in-progress 5,582.15
Investment property 0.00
Goodwill 0.00
Other intangible assets 38,500.47
Intangible assets under development 0.00
Biological assets other than bearer plants 0.00
Investments accounted for using equity method 0.00
Non-current financial assets
Non-current investments 103.04
Trade receivables, non-current 0.00
Loans, non-current 13,475.25
Other non-current financial assets
1 Other non-current assets 4,525.88
2 Other Financial Assets 26.03
Total of other non-current financial assets 4,551.91
Total non-current financial assets 18,130.20
Deferred tax assets (net) 1,921.54
Other non-current assets
1 Non current tax assets 2,521.84
Total of other non-current assets 2,521.84
Total non-current assets 1,75,361.09
2 Current assets
Inventories 9,428.14
Current financial asset
Current investments 14,082.41
Trade receivables, current 48,014.23
Cash and cash equivalents 1,538.82
Bank balance other than cash and cash equivalents 3,739.39
Loans, current 22.92
Other current financial assets
Total of other current financial assets 2,332.54
Total current financial assets 69,730.31
Current tax assets (net) 1,491.21
Other current assets
1 Other current assets 3,451.41
Total of other current assets 3,451.41
Total current assets 84,101.07
3 Non-current assets classified as held for sale 37.12
4 Regulatory deferral account debit balances and related deferred tax Assets 0.00
Total assets 2,59,499.28
Equity and liabilities
1 Equity
Equity attributable to owners of parent
Equity share capital 3,200.00
Other equity 1,96,716.28
Total equity attributable to owners of parent 1,99,916.28
Non controlling interest 11,313.27
Total equity 2,11,229.55
2 Liabilities
Non-current liabilities
Non-current financial liabilities
Borrowings, non-current 10,889.30
Trade payables, non-current
(A) Total outstanding dues of micro enterprises and small enterprises 0.00
(B) Total outstanding dues of creditors other than micro enterprises and small enterprises 0.00
Total Trade payable 0.00
Other non-current financial liabilities
Total of other non-current financial liabilities
Total non-current financial liabilities 10,889.30
Provisions, non-current 28.35
Deferred tax liabilities (net) 6,060.28
Deferred government grants, Non-current 0.00
Other non-current liabilities
Total of other non-current liabilities
Total non-current liabilities 16,977.93
Current liabilities
Current financial liabilities
Borrowings, current 9,408.85
Trade payables, current
(A) Total outstanding dues of micro enterprises and small enterprises 649.75
(B) Total outstanding dues of creditors other than micro enterprises and small enterprises 8,672.98
Total Trade payable 9,322.73
Other current financial liabilities
1 Other financial liabilities 1,113.01
Total of other current financial liabilities 1,113.01
Total current financial liabilities 19,844.59
Other current liabilities 9,956.21
1 Other current liabilities 9,956.21
Total of other current liabilities 9,956.21
Provisions, current 1,464.69
Current tax liabilities (Net) 26.31
Deferred government grants, Current 0.00
Total current liabilities 31,291.80
3 Liabilities directly associated with assets in disposal group classified as held for sale 0.00
4 Regulatory deferral account credit balances and related deferred tax liability 0.00
Total liabilities 48,269.73
Total equity and liabilites 2,59,499.28
Disclosure of notes on assets and liabilities



Format for Reporting Segment wise Revenue, Results and Capital Employed along with the company results

Amount in (Lakhs)

Particulars 3 months/ 6 month ended (dd-mm-yyyy) Year to date figures for current period ended (dd-mm-yyyy)
Date of start of reporting period 01-10-2025 01-04-2025
Date of end of reporting period 31-03-2026 31-03-2026
Whether results are audited or unaudited Audited Audited
Nature of report standalone or consolidated Consolidated Consolidated
1 Segment Revenue (Income)
(net sale/income from each segment should be disclosed)
Total Segment Revenue
Less: Inter segment revenue
Revenue from operations
2 Segment Result
Profit (+) / Loss (-) before tax and interest from each segment
Total Profit before tax
i. Finance cost
ii. Other Unallocable Expenditure net off Unallocable income
Profit before tax
3 (Segment Asset - Segment Liabilities)
Segment Asset
Total Segment Asset
Un-allocable Assets null null
Net Segment Asset null null
4 Segment Liabilities
Segment Liabilities
Total Segment Liabilities
Un-allocable Liabilities null null
Net Segment Liabilities null null
Disclosure of notes on segments



Other Comprehensive Income

Amount in (Lakhs)

Particulars 3 months/ 6 months ended (dd-mm-yyyy) Year to date figures for current period ended (dd-mm-yyyy)
A Date of start of reporting period 01-10-2025 01-04-2025
B Date of end of reporting period 31-03-2026 31-03-2026
C Whether results are audited or unaudited Audited Audited
D Nature of report standalone or consolidated Consolidated Consolidated
Other comprehensive income [Abstract]
1 Amount of items that will not be reclassified to profit and loss
1 Amount of items that will not be reclassified to profit and loss 14.01 22.81
Total Amount of items that will not be reclassified to profit and loss 14.01 22.81
2 Income tax relating to items that will not be reclassified to profit or loss 0.00 0.00
3 Amount of items that will be reclassified to profit and loss
1 Foreign Currency Translation 1,050.35 1,801.85
Total Amount of items that will be reclassified to profit and loss 1,050.35 1,801.85
4 Income tax relating to items that will be reclassified to profit or loss 0.00 0.00
5 Total Other comprehensive income 1,064.36 1,824.66



Cash flow statement, indirect

Amount in (Lakhs)

Particulars Year ended (dd-mm-yyyy)
A Date of start of reporting period 01-04-2025
B Date of end of reporting period 31-03-2026
C Whether results are audited or unaudited Audited
D Nature of report standalone or consolidated Consolidated
Statement of cash flows
Cash flows from used in operating activities
Profit before tax 13,966.62
Adjustments for reconcile profit (loss)
Adjustments for finance costs 1,763.55
Adjustments for decrease (increase) in inventories (3,461.07)
Adjustments for decrease (increase) in trade receivables, current (8,612.10)
Adjustments for decrease (increase) in trade receivables, non-current 0.00
Adjustments for decrease (increase) in other current assets 0.00
Adjustments for decrease (increase) in other non-current assets 0.00
Adjustments for other financial assets, non-current 0.00
Adjustments for other financial assets, current 0.00
Adjustments for other bank balances 0.00
Adjustments for increase (decrease) in trade payables, current 3,006.81
Adjustments for increase (decrease) in trade payables, non-current 0.00
Adjustments for increase (decrease) in other current liabilities 0.00
Adjustments for increase (decrease) in other non-current liabilities 0.00
Adjustments for depreciation and amortisation expense 5,923.01
Adjustments for impairment loss reversal of impairment loss recognised in profit or loss 0.00
Adjustments for provisions, current 971.19
Adjustments for provisions, non-current 0.00
Adjustments for other financial liabilities, current 0.00
Adjustments for other financial liabilities, non-current 0.00
Adjustments for unrealised foreign exchange losses gains (2,488.42)
Adjustments for dividend income 15.17
Adjustments for interest income 1,904.42
Adjustments for share-based payments 0.00
Adjustments for fair value losses (gains) 0.00
Adjustments for undistributed profits of associates 0.00
Other adjustments for which cash effects are investing or financing cash flow (1,138.28)
Other adjustments to reconcile profit (loss) 20,828.49
Other adjustments for non-cash items 0.00
Share of profit and loss from partnership firm or association of persons or limited liability partnerships 0.00
Total adjustments for reconcile profit (loss) 14,873.59
Net cash flows from (used in) operations 28,840.21
Dividends received 0.00
Interest paid 0.00
Interest received (4.85)
Income taxes paid (refund) 1,813.95
Other inflows (outflows) of cash (12.15)
Net cash flows from (used in) operating activities 27,009.26
Cash flows from used in investing activities
Cash flows from losing control of subsidiaries or other businesses 0.00
Cash flows used in obtaining control of subsidiaries or other businesses 0.00
Other cash receipts from sales of equity or debt instruments of other entities (339.32)
Other cash payments to acquire equity or debt instruments of other entities 0.00
Other cash receipts from sales of interests in joint ventures 0.00
Other cash payments to acquire interests in joint ventures 0.00
Cash receipts from share of profits of partnership firm or association of persons or limited liability partnerships 0.00
Cash payment for investment in partnership firm or association of persons or limited liability partnerships 0.00
Proceeds from sales of property, plant and equipment 1,965.19
Purchase of property, plant and equipment 23,645.46
Proceeds from sales of investment property 2,453.67
Purchase of investment property 0.00
Proceeds from sales of intangible assets 0.00
Purchase of intangible assets 0.00
Proceeds from sales of intangible assets under development 0.00
Purchase of intangible assets under development 0.00
Proceeds from sales of goodwill 0.00
Purchase of goodwill 0.00
Proceeds from biological assets other than bearer plants 0.00
Purchase of biological assets other than bearer plants 0.00
Proceeds from government grants 0.00
Proceeds from sales of other long-term assets 0.00
Purchase of other long-term assets 0.00
Cash advances and loans made to other parties 4,411.44
Cash receipts from repayment of advances and loans made to other parties 0.00
Cash payments for future contracts, forward contracts, option contracts and swap contracts 0.00
Cash receipts from future contracts, forward contracts, option contracts and swap contracts 0.00
Dividends received 15.17
Interest received 692.88
Income taxes paid (refund) 0.00
Other inflows (outflows) of cash 0.00
Net cash flows from (used in) investing activities (23,269.31)
Cash flows from used in financing activities
Proceeds from changes in ownership interests in subsidiaries 0.00
Payments from changes in ownership interests in subsidiaries 0.00
Proceeds from issuing shares 0.00
Proceeds from issuing other equity instruments 0.00
Payments to acquire or redeem entity's shares 0.00
Payments of other equity instruments 0.00
Proceeds from exercise of stock options 0.00
Proceeds from issuing debentures notes bonds etc 0.00
Proceeds from borrowings 1,667.44
Repayments of borrowings 1,928.30
Payments of lease liabilities 0.00
Dividends paid 1,950.01
Interest paid 1,716.65
Income taxes paid (refund) 0.00
Other inflows (outflows) of cash 0.00
Net cash flows from (used in) financing activities (3,927.52)
Net increase (decrease) in cash and cash equivalents before effect of exchange rate changes (187.57)
Effect of exchange rate changes on cash and cash equivalents
Effect of exchange rate changes on cash and cash equivalents 0.00
Net increase (decrease) in cash and cash equivalents (187.57)
Cash and cash equivalents cash flow statement at beginning of period 1,726.39
Cash and cash equivalents cash flow statement at end of period 1,538.82





Details of Impact of Audit Qualification

Amount in (Lakhs)

Whether results are audited or unaudited Audited
Declaration of unmodified opinion or statement on impact of audit qualification Declaration of unmodified opinion
Auditor's opinion
Declaration pursuant to Regulation 33 (3) (d) of SEBI (LODR) Regulation, 2015: The company declares that its Statutory Auditor/s have issued an Audit Report with unmodified opinion for the period on Standalone results Yes
Sr No. Audit firm's name Whether the firm holds a valid peer review certificate issued by Peer Review Board of ICAI Certificate valid upto
1 Mahendra N Shah and Co Yes 31-05-2027