Deep Industries Ltd Receives Provisional Suspension Notice from ONGC; Anticipates Revenue Impact of X5—6 Crores

Deep Industries Ltd has received a provisional suspension notice from Oil and Natural Gas Corporation Limited (ONGC) in relation to a Contract for charter hiring of a 90 MT mobile drilling rig for CBM Asset, Bokaro. The provisional suspension arose due to a Force Majeure event involving violent sabotage of the rig by unidentified miscreants. Despite this, the Company believes the provisional suspension is legally untenable and is pursuing all legal remedies. All existing ONGC contracts and ongoing business operations with ONGC remain intact. The Company anticipates that this development could lead to an impact on revenue in the range of approximately X5—6 Crores during Q4 of FY 2025-26.