DEEP INDUSTRIES LIMITED (DEEPINDS): Financials & Fundamentals History

Share price

Closing priceAdjusted for splits and bonus issues.

3M1Y3YAll

₹650 latest close · +40.4% over the last 90 sessions

₹650 month-end · +41.6% over 12 months

₹650 month-end · +140.6% over 3 years

₹650 month-end · +3055.3% since Apr '21

52-week range ₹330.00 to ₹825.00 · 1-year volatility 48.4%

Was the rally earned?

3 years5 years

+141%share price, 3 yearsEarnings and multiple

Both mattered.

Per-share earnings added 80 points and the multiple added 61 points (P/E 13.8x to 20.1x).
The share count rose 9%.

Net profit growth+93 ptsNet profit rose about 79%, which lifts the price.

P/E change+61 ptsThe P/E rose from 13.8x to 20.1x, which lifts the price.

Share count change-13 ptsShare count rose 9%, which lowers the price.

+805%share price, 5 yearsEarnings and multiple

Both mattered.

Per-share earnings added 424 points and the multiple added 382 points (P/E 7.1x to 20.1x).
The share count rose 8%.

Net profit growth+452 ptsNet profit rose about 245%, which lifts the price.

P/E change+382 ptsThe P/E rose from 7.1x to 20.1x, which lifts the price.

Share count change-28 ptsShare count rose 8%, which lowers the price.

What do "pts" mean?

"pts" are percentage points of the share price return. The parts add up to the total shown for each period. Because price = P/E × net profit ÷ share count, higher profit pushes the price up, a higher P/E pushes it up, and more shares push it down.

Example: if the price rose 34% and profit growth accounts for +58 pts while a lower P/E accounts for -24 pts, then 58 - 24 = 34. The +58 is not the profit growth rate itself: it is the part of the price move that profit growth explains.

Not shown for 1 year: earnings were negative at one end, or there is not enough history.

Net profit is trailing twelve months as reported with a 60-day lag.

Compare this with SEAMEC

How rough has the ride been?

Maximum drawdown-46.0%recovered 2026-08

1-year volatility48.4%annualised

Beta vs sector index0.793-year daily, correlation 0.38

Volume spikes8last 90 sessions, 5x the 50-day median

Drawdown from peak

Largest drawdowns

-46.0% (2024-12 peak to 2026-03 low, recovered 2026-08)

-33.1% (2022-04 peak to 2022-08 low, recovered 2022-09)

-26.1% (2026-09 peak to 2026-11 low, not yet recovered)

Most recent volume spikes

2026-09-03: 5.8x the 50-day median, price +7.4% that day

2026-08-04: 5.6x the 50-day median, price +0.7% that day

2026-08-03: 17.2x the 50-day median, price +8.8% that day

Beta is the slope of daily returns against a market-cap-weighted index of the sector's other listed companies, built from today's constituents (so it excludes companies no longer listed).

Is it expensive against its own past and its peers?

20.1xP/E todayNear its historic high

Against its own history81st percentile

CheapestMedian 13.1xDearest

Usual range 7.6x to 22.8x since 2021-04.

Against Industrial Services20.1x vs 14.0x

This company

20.1x

Sector median

14.0x

43% above the Industrial Services median.

P/EP/BP/S

P/E (this company)10th to 90th percentile of its own historyIts medianIndustrial Services median

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P/B (this company)10th to 90th percentile of its own historyIts medianIndustrial Services median

The chart loads when you open this tab.

P/S (this company)10th to 90th percentile of its own historyIts medianIndustrial Services median

How to read this

Shaded band: 10th to 90th percentile of the company's own P/E history; dotted line: its median; orange line: sector median (companies with a positive multiple, at least 5 in the sector).

Sector figures are built from today's listed companies, so they exclude companies that are no longer listed.

All terms explained in the glossary →

How Industrial Services is valued

Where does it rank among Industrial Services peers?

Each cell is the company's percentile rank among its Industrial Services peers (non-financial companies) that month.
Darker is better-ranked.
Rows marked ↓ are inverted (lower debt, shorter cash cycle and a lower P/E rank higher).

Where it ranks today

ROCE54th▲ 25 pts vs a year ago
Op. margin90thflat vs a year ago
Revenue growth80thflat vs a year ago
EPS growth6th▼ 39 pts vs a year ago
Debt/equity ↓82nd▲ 4 pts vs a year ago
Cash cycle ↓25th▲ 14 pts vs a year ago
P/E ↓31st
12M momentum90th▲ 27 pts vs a year ago

Rank history

ROCE

Op. margin

Revenue growth

EPS growth

Debt/equity ↓

Cash cycle ↓

P/E ↓

12M momentum

Dec '21Jul '22Jan '23Jul '23Jan '24Jul '24Jan '25Jul '25Jan '26Jul '26Nov '26

Lower rank Higher rank Not enough data

Percentiles use today's listed companies in the sector and need at least 5 peers with a value; grey cells have too few.
ROE is computed from net profit and book value where the source does not report it.

The Industrial Services sector page Watch it move against Industrial Services in the Observatory

What is the price implying?

~26%annual earnings growth implied by the priceAbove delivered growth

At normalised P/E (five-year average earnings) of 51.3x, a holder earning 12%/yr needs earnings to grow about 26.2%/yr for 10 years, then trade at 15x.

Delivered−2.5%/yrEPS, last 6 fiscal years · 3-yr avg to 3-yr avg

Gap+28.7 ptsimplied minus delivered

Rank65thmost demanding of 856

Over time

Implied growth by month (solid) and delivered growth (dashed).

Change the assumptions

Exit P/E / return	11%	12%	13%
12x	27.8%	29.0%	30.1%
15x	25.1%	26.2%	27.3%
20x	21.6%	22.7%	23.8%

Drag a slider to test other assumptions

Required return 12.0% Years 10 Exit P/E 15x Implied: 26.2%/yr

Looking back

Jan 2022Price implied 16%/yr; EPS has since grown 25%/yr (5.0 yrs)

Past comparisons cover only companies listed today (survivorship bias) and say nothing about future outcomes.

“Implied growth” is what the current price would require under our stated assumptions, not what we expect. How this is calculated and the market-wide lists.

What prices imply across Industrial Services The market-wide Expectations lists

Key figures

Share Priceclose 9 Nov: ₹650.00
P/E: 20.1x
ROCE: 16.0%
Market Cap: ₹4157 cr
Revenue (TTM): ₹971 cr
P/S: 4.3x
P/B: 2.1x
ROE: 10.3%
Operating Margin: 39.0%
Debt / Equity: 0.1x
Promoter Holding: 63.5%
12M Momentum: 41.6%

52-week range

₹330.00₹825.00

65% of the way from its 52-week low to its high

Price risk

1Y volatility

48.4%

Beta vs sector

1-year daily

0.52

Balance sheet & cash

Interest cover

operating profit ÷ interest

10.6x

Cash from profit, 3Y

operating cash flow ÷ net profit

3.02x

Share count, 1Y

unchanged

Are profits backed by cash?

6 of 6checks within rangeAll clear

Other income reliance-74%Within range

Other income as a share of pre-tax profit (trailing twelve months): -74.0%. Bands: below 15%, 15% to 35%, above 35%.

Tax rate21%Within range

Median quarterly effective tax rate over about 2.5 years: 20.5%. Bands: 15% to 35%, 5% to 15% or 35% to 50%, outside 5% to 50%.

Cash conversion3.02xWithin range

Operating cash flow divided by net profit over the last three fiscal years: 3.02x (cash from operations ₹735 cr, net profit ₹243 cr). Bands: 0.8x and above, 0.5x to 0.8x, below 0.5x.

Free cash flow4 of 5 yrsWithin range

Fiscal years with positive free cash flow in the last 5: 4. Bands: at least 80% of years, 40% to 80%, below 40%.

Receivable days vs history-73 daysWithin range

Debtor days are below the median of the previous three fiscal years by 73 days (197 vs 270). Bands: under 15 days, 15 to 45, over 45.

Capital work in progress4% of fixed assetsWithin range

Capital work-in-progress is 4% of fixed assets. Bands: not rising or up to 30%; rising for three years and above 30%; rising and above 60%.

Payable days—Not enough data

Not enough reported data to compute this.

Tap a check to see how it is measured

How to read this

Each check is a named rule with fixed thresholds, not a score. Annual statements are the latest restated figures, so a past year may differ from what was originally reported.

All terms explained in the glossary →

Who has been buying and selling?

Over 2 years, DIIs added 1.5 pts; FIIs trimmed 0.6 pts.
The number of shareholders rose from 26,355 to 37,020 (+40%) between Dec 2023 and Jun 2026.

Holdings, Jun '26

How each group changed

GroupDec '23Jun '26Change

Promoters63.5%63.5%0.0 pts

FIIs2.0%1.5%-0.6 pts

DIIs0.0%1.5%+1.5 pts

Public and others34.5%33.5%-1.0 pts

Number of shareholders

37,020shareholders+40% since Dec '23

Quarterly shareholding as reported, labelled by the quarter it covers (it becomes visible about two months later).
Shareholder counts are only available for recent quarters.

This quarter's smart-money board

What happened next to similar setups

−0.3%typical 12-month return vs the marketNot meaningfully different from the base rate

We found 50 past situations where a non-financial company looked like DEEP INDUSTRIES LIMITED today on valuation, return on capital, margins, debt, growth, price momentum, size and volatility.
Over the following 12 months the middle half of them returned −24% to +35% vs the market, against −5% for all non-financial companies in the same months.
The gap against the base rate (+4.3%, 80% range −7.1% to +11.7%) is within what chance and overlapping periods produce.

Where the 50 outcomes landed

Each dot is one past situation (hover or tap for details) · Solid dots are the closest matches, listed below · Shaded is the middle half of all companies in the same months · 2 beyond the range shown, drawn at the edge

Similar setups' median

−0.3%

All companies' median

−4.6%

Beat the market

50% vs 45%

50 past situations · 50 companies · 36 months · 2020–2025

The closest matches

Company	When	P/E	ROCE	12M mom.	Drawdown	Next 12 months
SANGHVIMOV Industrial Services	Dec 2023	32x	15%	+152%	−4%	−36%
KKCL Consumer Non-Durables	May 2023	37x	19%	+100%	−11%	−4%
SEAMECLTD Industrial Services	Feb 2020	12x	21%	+14%	−26%	−7%
SJS Producer Manufacturing	Feb 2025	25x	22%	+34%	−35%	+75%
INFOBEAN Technology Services	Nov 2021	26x	19%	+197%	−20%	+19%

Show the other 3 matches

Company	When	P/E	ROCE	12M mom.	Drawdown	Next 12 months
AVTNPL Consumer Non-Durables	Apr 2022	38x	19%	+138%	−14%	−23%
AURIONPRO Technology Services	Jun 2024	50x	22%	+180%	−8%	+3%
BSOFT Technology Services	Apr 2021	30x	18%	+237%	−10%	+36%

How reliable is this?

Matched on P/E, P/S, ROCE, operating margin, debt/equity, interest cover, revenue growth, 12-month momentum, drawdown from 12-month high, size and volatility. Closest on: drawdown from 12-month high, 12-month momentum and interest cover. One match per company and at most 7 from any one month.

Independent periods: the matches fall in 6 distinct 12-month windows. Matches from nearby months share the same market conditions, so fewer windows means less evidence.

How this is built

This is history, not a forecast. These are past situations where other companies had broadly similar reported numbers and price trends. What happened to them does not tell you what will happen to DEEP INDUSTRIES LIMITED. The comparison covers only 2020–2025, a single market period, and only companies still listed today. Companies that were delisted or went bankrupt are missing, which makes past outcomes look better than they were. Returns exclude dividends and are measured against an ApnaFunda-built index, not an official benchmark. Fundamentals are matched on a 60-day assumed reporting lag, not actual announcement dates. Its historical skill has not yet been measured. Past patterns may not repeat.

Methodology

How historical analogs are built

Data as of 2026-11-09. Outcome pool: Jan 2020 to Oct 2025.

For every company we look at the situation it is in today (valuation, return on capital, margins, debt, growth, 12-month price momentum, drawdown, size and volatility) and find past company-months that looked most like it. We then show what happened to those past situations over the following 12 months, measured against the ApnaFunda All index and against the base rate. It describes history. It does not predict anything.

What is compared

Feature	Weight	Non-financial	Financial
P/E	1	yes	yes
P/S	1	yes	—
P/B	1	—	yes
ROCE	1	yes	—
operating margin	1	yes	—
ROE	1	—	yes
debt/equity	0.75	yes	—
interest cover	0.5	yes	—
revenue growth	0.75	yes	yes
12-month momentum	1	yes	yes
drawdown from 12-month high	0.75	yes	yes
size	0.75	yes	yes
volatility	0.5	yes	yes

Weights were set by judgement before any outcome was looked at and are never tuned on results. Loss-making companies (negative P/E or net profit) are only matched with other loss-making companies. Banks, NBFCs and insurers are compared only with each other and use a different feature set. Every feature is converted, month by month, to its rank among companies in the same pool in that month, so a P/E of 30 in a hot market and a P/E of 22 in a cold one can match if both were equally expensive for their time. Only that month's data is used.

How closeness and the sample are defined

Distance is the weighted root-mean-square gap between the standardised features both companies have. A match needs at least 70% of the query's feature weight, a distance of at most 0.9, and 30 matches at minimum to be shown. We keep up to 50 matches with these exclusions: never the company itself, one match per company (its closest month), and at most 7 from any one calendar month so a single market episode cannot dominate.

Base rate

The base rate is the distribution of 12-month returns, relative to the market, of every eligible company-month in the same pool, with each month weighted to match the months the analogs came from. It answers: how did a random company do in these same months? Because matches from nearby months share the same market conditions, we also report the number of distinct 12-month windows behind a result, and a bootstrap that resamples months decides whether the analog median differs from the base rate at all. "Not meaningfully different" is the usual outcome and the page copy is written for it.

Limits you should know

One market period. The outcome pool covers 2020–2025 only (70 months), including the 2020 crash and the 2020–21 rally.
Survivorship. Only companies listed today are included. Delisted and bankrupt companies are missing, which flatters past outcomes, particularly for distressed-looking setups.
Price return only. Dividends are excluded, and the benchmark is an ApnaFunda market-cap-weighted index of the same listed companies, not an official index.
Reporting lag. Fundamentals are matched on an assumed 60-day lag after the quarter end, not on real announcement dates.
Pools: non-financial: 98,395 company-months from 2019 companies; financial: 5,659 company-months from 108 companies. 2349 companies currently have a result; the rest are suppressed because too few comparable situations exist.

Does it work? A walk-forward check

The walk-forward check has not been run for this build, so skill is shown as not yet measured.

Disclaimer

This is history, not a forecast. These are past situations where other companies had broadly similar reported numbers and price trends. What happened to them does not tell you what will happen to any company shown. The comparison covers only 2020–2025, a single market period, and only companies still listed today. Companies that were delisted or went bankrupt are missing, which makes past outcomes look better than they were. Returns exclude dividends and are measured against an ApnaFunda-built index, not an official benchmark. Fundamentals are matched on a 60-day assumed reporting lag, not actual announcement dates. Its historical skill has not yet been measured. Past patterns may not repeat.

What else looks like this?

Companies with the most similar financial profile today, regardless of industry.

EMUDHRAEMUDHRA

Technology Services

73%similar

ROCErevenue growth

LATENT VIEW ANALYTICSLATENTVIEW

Commercial Services

71%similar

ROCEmarket cap

AJMERA REALTY & INFRA INDIA LIAJMERA

Finance

65%similar

revenue growthvolatility

ANTELOPUS SELAN ENERGYANTELOPUS

Energy Minerals

63%similar

revenue growthoperating margin

GOLDIAM INTERNATIONALGOLDIAM

Consumer Durables

63%similar

revenuemarket cap

JINDAL DRILLING & INDUSTRIES LJINDRILL

Industrial Services

66%similar

operating marginrevenue

SANGHVI MOVERSSANGHVIMOV

Industrial Services

57%similar

ROCErevenue growth

ENVIRO INFRA ENGINEERSEIEL

Industrial Services

54%similar

volatilityP/E

Similarity is statistical, based on reported metrics; it does not imply similar business quality or future returns.

What changed?

30 events since Oct '22

2026
NovPriceFell 26% from the Sep 2026 peak to the Nov 2026 low.
AugPriceRegained the 2024-12 peak, 5 months after the low.
AugPriceVolume reached 17.2x its 50-day median on 2026-08-03; price +8.8% that day.
JulValuationP/E crossed above the 90th percentile of its own history to date (21.2x).
JunResultsEPS (TTM) turned positive.
JunPeer rankMoved into the 2nd quartile of Industrial Services on ROCE (from the 3rd quartile).
JunDividendStarted paying a dividend (payout 9% of profit).
AprPriceVolume reached 9.2x its 50-day median on 2026-04-07; price +6.8% that day.

Show 22 earlier events

2026
MarPriceFell 46% from the Dec 2024 peak to the Mar 2026 low.
MarPriceVolume reached 63.8x its 50-day median on 2026-03-20; price +12.0% that day.
2025
NovPriceVolume reached 7.4x its 50-day median on 2025-11-07; price +3.7% that day.
AugPriceVolume reached 21.4x its 50-day median on 2025-08-04; price +7.7% that day.
JunResultsEPS (TTM) turned negative.
JunPeer rankSlipped to the bottom quartile of Industrial Services on EPS growth (from the 3rd quartile).
JunDividendDividend payout cut from 13% to -22% of profit.
JunPriceVolume reached 5.1x its 50-day median on 2025-06-13; price +2.5% that day.
2024
NovPriceVolume reached 11.0x its 50-day median on 2024-11-28; price +11.4% that day.
SepResultsYear-on-year EPS growth turned positive.
SepPriceVolume reached 22.5x its 50-day median on 2024-09-09; price +20.0% that day.
JunResultsYear-on-year EPS growth turned negative.
JunPeer rankSlipped to the 3rd quartile of Industrial Services on EPS growth (from the 2nd quartile).
MayPriceVolume reached 6.5x its 50-day median on 2024-05-07; price +7.0% that day.
MarValuationP/E crossed above the 90th percentile of its own history to date (15.8x).
MarPriceVolume reached 38.5x its 50-day median on 2024-03-26; price +5.1% that day.
2023
DecPriceVolume reached 16.2x its 50-day median on 2023-12-05; price +0.5% that day.
SepValuationP/E crossed above the 90th percentile of its own history to date (13.7x).
JulPriceVolume reached 10.3x its 50-day median on 2023-07-07; price +9.1% that day.
JunResultsRevenue (TTM) reached a new high of ₹341 cr.
MayPriceVolume reached 17.4x its 50-day median on 2023-05-24; price +12.2% that day.
2022
OctPriceVolume reached 15.8x its 50-day median on 2022-10-07; price +4.3% that day.

Events are generated from the data by fixed rules.
The month shown is when the change became visible in the reported figures, assuming a 60-day lag after each quarter end; it is not an announcement date.

Where price and fundamentals disagree, market-wide Rewind the whole market to any month

Monthly history68 months · 2021-04 to 2026-11

Month	P/E	Revenue (TTM)	ROE	ROCE	Debt / Equity
2026-11	20.1x	₹971 cr	10.3%	16.0%	0.1x
2026-10	20.7x	₹971 cr	10.3%	16.0%	0.1x
2026-09	23.4x	₹971 cr	10.3%	16.0%	0.1x
2026-08	24.5x	₹892 cr	9.1%	16.0%	0.1x
2026-07	21.2x	₹892 cr	9.1%	16.0%	0.1x
2026-06	16.2x	₹892 cr	9.1%	16.0%	0.1x
2026-05	—	₹810 cr	-0.8%	12.0%	0.1x
2026-04	—	₹810 cr	-0.8%	12.0%	0.1x
2026-03	—	₹810 cr	-0.8%	12.0%	0.1x
2026-02	—	₹743 cr	-1.3%	12.0%	0.1x
2026-01	—	₹743 cr	-1.3%	12.0%	0.1x
2025-12	—	₹743 cr	-1.3%	12.0%	0.1x
2025-11	—	₹653 cr	-2.8%	12.0%	0.1x
2025-10	—	₹653 cr	-2.8%	12.0%	0.1x
2025-09	—	₹653 cr	-2.8%	12.0%	0.1x
2025-08	—	₹576 cr	-3.9%	12.0%	0.1x
2025-07	—	₹576 cr	-3.9%	12.0%	0.1x
2025-06	—	₹576 cr	-3.9%	12.0%	0.1x
2025-05	17.8x	₹529 cr	10.6%	10.0%	0.1x
2025-04	18.3x	₹529 cr	10.6%	10.0%	0.1x
2025-03	20.7x	₹529 cr	10.6%	10.0%	0.1x
2025-02	20.0x	₹479 cr	9.3%	10.0%	0.1x
2025-01	25.9x	₹479 cr	9.3%	10.0%	0.1x
2024-12	25.2x	₹479 cr	9.3%	10.0%	0.1x
2024-11	27.8x	₹449 cr	8.6%	10.0%	0.1x
2024-10	23.9x	₹449 cr	8.6%	10.0%	0.1x
2024-09	21.5x	₹449 cr	8.6%	10.0%	0.1x
2024-08	19.5x	₹427 cr	8.0%	10.0%	0.1x
2024-07	16.3x	₹427 cr	8.0%	10.0%	0.1x
2024-06	15.0x	₹427 cr	8.0%	10.0%	0.1x
2024-05	14.2x	₹341 cr	8.4%	8.0%	0.1x
2024-04	14.4x	₹341 cr	8.4%	8.0%	0.1x
2024-03	15.8x	₹341 cr	8.4%	8.0%	0.1x
2024-02	12.8x	₹341 cr	8.4%	8.0%	0.1x
2024-01	13.1x	₹341 cr	8.4%	8.0%	0.1x
2023-12	13.1x	₹341 cr	8.4%	8.0%	0.1x
2023-11	13.8x	₹341 cr	8.4%	8.0%	0.1x
2023-10	13.1x	₹341 cr	8.4%	8.0%	0.1x
2023-09	13.7x	₹341 cr	8.4%	8.0%	0.1x
2023-08	12.5x	₹341 cr	8.4%	8.0%	0.1x
2023-07	11.3x	₹341 cr	8.4%	8.0%	0.1x
2023-06	8.9x	₹341 cr	8.4%	8.0%	0.1x
2023-05	15.4x	₹322 cr	5.9%	8.0%	0.0x
2023-04	15.1x	₹322 cr	5.9%	8.0%	0.0x
2023-03	11.9x	₹322 cr	5.9%	8.0%	0.0x
2023-02	12.0x	₹322 cr	5.9%	8.0%	0.0x
2023-01	13.2x	₹322 cr	5.9%	8.0%	0.0x
2022-12	12.5x	₹322 cr	5.9%	8.0%	0.0x
2022-11	11.7x	₹322 cr	5.9%	8.0%	0.0x
2022-10	13.4x	₹322 cr	5.9%	8.0%	0.0x
2022-09	11.2x	₹322 cr	5.9%	8.0%	0.0x
2022-08	9.8x	₹322 cr	5.9%	8.0%	0.0x
2022-07	8.8x	₹322 cr	5.9%	8.0%	0.0x
2022-06	8.8x	₹322 cr	5.9%	8.0%	0.0x
2022-05	10.4x	₹194 cr	5.6%	-1.0%	0.0x
2022-04	13.0x	₹194 cr	5.6%	-1.0%	0.0x
2022-03	11.3x	₹194 cr	5.6%	-1.0%	0.0x
2022-02	9.3x	₹194 cr	5.6%	-1.0%	0.0x
2022-01	9.4x	₹194 cr	5.6%	-1.0%	0.0x
2021-12	7.7x	₹194 cr	5.6%	-1.0%	0.0x
2021-11	7.1x	₹194 cr	5.6%	-1.0%	0.0x
2021-10	6.7x	₹194 cr	5.6%	-1.0%	0.0x
2021-09	7.5x	₹194 cr	5.6%	-1.0%	0.0x
2021-08	6.5x	₹194 cr	5.6%	-1.0%	0.0x
2021-07	4.9x	₹194 cr	5.6%	-1.0%	0.0x
2021-06	4.0x	₹194 cr	5.6%	-1.0%	0.0x
2021-05	—	₹262 cr	77.2%	34.0%	2.2x
2021-04	—	₹262 cr	77.2%	34.0%	2.2x

Methodology and data notes