Deep Industries said that it has completed the incorporation process of its wholly owned subsidiary, SAAR International FZ-LLC (SAAR) in Ras Al Khaimah Economic Zone, UAE on 29 March 2024 and received certificate of incorporation on 8 April 2024.
SAAR has been incorporated to carry out various business activities from Ras Al Khaimah Economic Zone, and since it has not yet started its business activities there is no impact on the business of the company as on date.The company holds 100% share capital of SAAR by acquiring 25 Shares of value AED 1,000 each.
Deep Industries is a leading provider of energy solutions. The company specializes in air and gas compression services, drilling and workover services, gas dehydration services, and integrated project management services. The company's comprehensive portfolio includes various machines, equipment, and tools used in the oil and gas industry from exploration and production services to midstream services.
The companys net profit jumped 10.4% to Rs 27.17 crore on 6.8% increase in net sales to Rs 104.69 crore in Q3 FY24 over Q3 FY23.
The scrip fell 1.85% to ends at Rs 313.40 on Monday, 8 April 2024.
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