Credit rating agency, CARE has reaffirmed A- rating to Deep Industries’ long-term bank Facilities worth Rs 138.64 crore. The rating agency has also reaffirmed A-/ A2+ rating to company’s long-term/ short term bank facilities worth Rs 40.00 crore. Meanwhile, the rating agency has assigned ‘A2+’ rating to the company’s short-term bank facilities worth Rs 1.36 crore.
The ratings of the bank facilities of Deep Industries (DIL) continue to take into account its established position in the domestic gas compression services business, confirmed order book with monthly billing cycle, healthy profitability and low overall gearing.
Deep Industries (DIL), established in the year 1991 with headquarters in Ahmedabad, Gujarat, primarily caters to ever increasing demand for Oil and Gas Field Services requirements. DIL is well diversified Oil & Gas Company with business interest in Air and Gas compression, Drilling, Work over and Oil & Gas Exploration and Production.
