October 2015

CORPORATE PRESENTATION

DEEP INDUSTRIES LIMITED

 General Introduction Company Overview Key Highlights Business Opportunity Annexures

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2 Corporate Presentation
 General Introduction Company Overview Key Highlights Business Opportunity Annexures

Abbreviations

Abbreviation Description Abbreviation Description

BS OHSAS BSI’s Occupational Health and Safety Assessment Series HP Horse Power

CAGR Compounded Annual Growth Rate

MMBOE Million Barrels Of Oil Equivalent

CBM Coal Bed Methane

MMSCMD Million Metric Standard Cubic Meter Per Day
CPCL Chennai Petroleum Corporation Limited
NELP New Exploration Licensing Policy
DIL Deep Industries Limited
O&G Oil & Gas
EBIT Earnings Before Interest & Tax
ONGC Oil and Natural Gas Corporation Limited
EBITDA Earnings Before Interest, Tax, Depreciation & Amortization
PAT Profit After Tax
EBT Earnings Before Tax

RGPPL Ratnagiri Gas and Power Private Limited

GACL Gujarat Alkalies and Chemicals Limited

GDU Gas Dehydration Unit sq km Square Kilometres

GSPL Gujarat State Petronet Limited TCF Trillions of Cubic Feet

3 Corporate Presentation
General Introduction Company Overview Key Highlights Business Opportunity Annexures

Contents

1 Company Overview

2 Key Highlights

3 Business Opportunity

4 Annexure

4 Corporate Presentation
 General Introduction Company Overview Key Highlights Business Opportunity Annexures

Business Segments
One of the leading solution provider to the Oil & Gas producers in India

 Diversified Oil & Gas company serving the industry in India since 1991 One of the leading
companies in Outsourced
 Business interests includes:
Compression and
 Oil Field Services Dehydration

– Natural Gas Compression – One of the leading companies in the outsourced gas compression business

– Natural Gas Dehydration – One of the first companies to supply dehydrators on contract basis More than 2 decades of
experience in oil and gas
– Drilling and Work over Rigs – Long standing relationship and preferred vendor status with few clients

 Exploration & Production

– Oil & Gas Exploration & Production – 4 NELP Blocks Service providers to a large
number of oil and gas
– CBM Exploration & Production – 3 CBM Blocks in India and 1 CBM block in Indonesia
producers in India
– Marginal Fields – 3 Fields awarded by ONGC in Rajasthan

 Presence through its subsidiary in USA and Singapore and a branch office in Indonesia
Deployment of Skilled team
 One of the first companies in India to provide high pressure Natural Gas Compression Services and Gas and efficient customisation
Dehydration Services on charter hire basis

 Rated as “CARE A-” and “ CARE A2+” (28-Sept-15) and “CRISIL A-” and “CRISIL A2+” (12-Nov-14) for Long term
and Short term Bank facilities respectively. Long term association with
US based vendors
 Received several accolades including Forbes Asia - Best Under Billion Dollar Company – 2010 List

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General Introduction Company Overview Key Highlights Business Opportunity Annexures

Journey of the Company

Major milestones and achievements

1991 1997 2004 2006

Commenced activities Contract awarded for Sales Representation Awarded 2 CBM
of providing liquid Agreement with Valerus blocks under CBM III
Natural Gas
transportation services
Compression by ONGC Compression Services Initial Public Offer
Ltd., USA (“IPO”)

Contract awarded for Gas compression Purchased one 100 Awarded 3 marginal gas
Air Compression by Equipment Lease and Ton Cardwell KB 500 fields by ONGC
ONGC Service Agreement with S Axle Mobile Rig 2007
Hanover, Asia Inc. USA
Strategic shift from Registered with
2001
providing Crude International
Oil/Liquid transport Association of
services to providing Drilling Contractors
Air/Gas compression (“IADC”)
services
ISO 9001-2000
1994
certification
2005

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 General Introduction Company Overview Key Highlights Business Opportunity Annexures

Journey of the Company

Major milestones and achievements

2008 2011
Contract awarded for Natural Awarded one of the largest Gas Compression
Gas Compression at Balol by Contracts at Rajamundary by ONGC
ONGC
Natural Gas Compression Contract at Kariakal by
Awarded 1 Onshore O&G block HOEC 2014
under NELP VII
Awarded 1 CBM Block in Indonesia
Natural Gas Compression Award of 25% stake in
Contract at Kemalapuram by Natural Gas Compression Contract at Kalol by ONGC North Karanpura CBM Block
CPCL Winner of 3 O&G Blocks under NELP IX

Natural Gas Compression Contract at Award of largest* onshore Awarded contracts

Borohola by ONGC
Natural Gas Compression Contract at
Gamnewala by ONGC
ISO 14001:2004 & BS
18001:2007 Certification
2010
workover rig contract from worth INR 2,780 Mn in
Cairn India ltd
Gas Dehydration Business
2013 Awarded contract worth
INR 850 Mn for 1,000 HP
OHSAS Drilling Rig Services
2015

* For the Company

7 Corporate Presentation
 General Introduction Company Overview Key Highlights Business Opportunity Annexures

Key Highlights
Comprehensive service provider to oil and gas companies

Comprehensive service offering to oil and gas producers

Growing Business

Consistent yearly growth in revenues

Long term relationships with clients & Large Order Book

First mover advantage in outsourced gas dehydration opportunity

Qualified Management & Experienced Team

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 General Introduction Company Overview Key Highlights Business Opportunity Annexures

Comprehensive Service Offering 1

Technically equipped to provide comprehensive offering to oil and gas producers

Oil & Gas Services Exploration and Production

Natural Gas Compression Work Over & Drilling Rigs Natural Gas Dehydration Conventional Unconventional

 Owns 53 Gas  Own and operate 9  One of the first  Deep Industries is  Deep Industries is
Compressors with total work over rigs companies to bag operator in 7 oil & gas operator in 4 CBM
capacity of more than  Have tie ups for up to contract for blocks in India blocks in India and
50,000 HP 2,000 HP Dehydration on covering total area of Indonesia covering a
contract basis in India 10,102 sq km having total area of 2,060
 One of the largest  Currently has 1 drilling
resource potential of sq. km having
companies providing rig  Contract for
8,920 MMBOE resource potential of
Gas Compression Dehydrating about 1.2
 Have tie-ups with 5.5 TCF
Services in India MMSCMD  3 onshore marginal
international  3 CBM blocks (North
 Compressing about 3.5  Contracts for 5.7 gas fields in Rajasthan
companies for Karanpura, Singrauli &
MMSCMD expansion purposes MMSCMD expected to  1 oil & gas block each
Godavri) in India
come up for in Chhattisgarh and
bidding/already bid for Gujarat and 2 oil &  1 CBM Block in
gas Blocks in MP Indonesia

9 Corporate Presentation
 General Introduction Company Overview Key Highlights Business Opportunity Annexures

Growing Business 2
Track record of delivering projects and maintaining commitments

Gas Compression Business – Growth in Asset Base to keep up with increased business

Particulars Deployment of Gas Compressors & Rigs 53

FY13A FY14A FY15A Owned by the Company

Gas Compressor Business 10

48
Number of Gas Compressor Packages 43 48 53

7
No of Clients 18 19 27
7
Rigs Business
43
Number of Onshore Rigs 7 7 10
FY2013 FY2014 FY2015
No of Clients 4 4 5 No of Gas Compressors No of Rigs

Deployment of Gas Compressors and the Rigs have increased as have the number of contracts and clients per year

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Consistent Yearly growth in revenues 3

Strong growth in topline and bottom line with robust margins

Revenue Growth EBITDA Growth

All figures in INR million All figures in INR million 534
563
1,026
920 56.4 58.0
54.9
48.3 378
614 669
296

FY 2012 FY 2013 FY 2014 FY 2015

FY 2012 FY 2013 FY 2014 FY 2015
EBITDA EBITDA Margins

PAT growth
21.8
20.7
19.6
18.1
 Overall revenue has grown with a CAGR of 18.7% over
FY2012-FY2015

 Robust 23.9% CAGR in EBITDA aided by margin expansion

200 213
over the same period
120 121
 PAT margins too have been consistently high, underscoring
the operations of the Company
FY 2012 FY 2013 FY 2014 FY 2015

PAT PAT Margin

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Established Relationships with Clients 4

Our experience and performance help us meet PQE requirements

Long term relationships with various public sector and private sector clients in India

Long term relationships help in a better understanding of our clients’ requirements and better evaluation of the scope of work
and risks involved in a project we bids for, as well as address changing demands in target markets

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Large Order Book 4

Long term nature of contracts provides clear visibility of revenues. GDU revenue expected in FY16
Current order book (Value of outstanding Contracts in ₹ million)

Division wise Order Book Client Balance Contract Value (₹mn)

ONGC 4,417
Gas Dehydration Units, Workover Rigs, Cairn 774
2,769 1,878 Oil India 321
RGPPL 299
CPCL 113
Petronet 90
GSPL 46
Assam Gas 42
Gas Compressors,
Essar 40
1,504
GACL 10
Grand Total 6,151

 New Gas Dehydration Orders secured in September 2015 with outstanding value of ₹ 2,769 million to be completed over a three year period

 Current orders for work over rigs and gas compressors with outstanding value of ₹ 3,382 million from 28 contracts to be completed over the next
three-four years

Total Order book of ₹ 6,151 million provides strong revenue visibility

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 General Introduction Company Overview Key Highlights Business Opportunity Annexures

First mover advantage in Gas Dehydration 5

Gas dehydration to provide an additional revenue stream from FY16

Deep Industries to benefit from its market positioning

Gas Dehydration Unit

 The blast at the GAIL site increased the scrutiny on the processes followed by producers and
resulted in regulations being made more stringent
 This necessitated ONGC to get a dehydration unit installed at the site before resuming
production, as needed by the stricter implementation of regulations.
 DIL is the one of the few companies in the country who qualifies to provide the Gas
Dehydration on contract basis based on its experience of quantum of Gas Compressed in
past.
 ONGC Rajamundry contract for installation of a Gas Dehydration Unit for 1.2 MMSCMD has
already been awarded to the Company.
 DIL has put in bids for 2 more contracts for GDU installation for 3.4 MMSCMD and expects to
bid for a few more contracts aggregating to ~ 5 MMSCMD
 Active technical backup from M/s Valerus Compression Services, USA and are the only
authorized representatives of Valerus in India, one of the key suppliers of GDUs
 Also has tie-ups with reputed and experienced Gas Dehydration packagers in USA for the
supply of Gas Dehydration Packages

14 Corporate Presentation
General Introduction Company Overview
Qualified Management & Experienced Team
Qualified and motivated employee base and experienced management team
Paras Savla,
Chairman & Managing Director
First generation entrepreneur with over
20 years experience in oil and gas
industry. Com. Graduate from Gujarat
University. Nominated as a finalist for the
CNBC 14th ABLA, to be held in Oct 15.
Prem Sawhney,
ED and CEO for E&P
27 years of extensive experience in
exploration and development of
conventional & unconventional hydro
carbon resources. Past assignments include
ONGC, Essar and Reliance Industries.
Dr. K.L Patel
Sr. Advisor, Exploration
Post Graduate in Geology & PhD in
Petroleum Economics. He has over more
than 36 years of experience with ONGC in
Exploration, Development, Operation &
Economics.
As of September 30, 2015, the Company had more than 550 full time employees
15
Key Highlights
Rupesh Savla,
Managing Director
Commerce Graduate from Gujarat
University and an MBA from Bentley
College, USA, has over 20 years of
experience in execution of projects in
the oil and gas sector.
A.K. Singhania,
Senior Vice President
B.E(Chem), MBA with more than 37
years of experience in the Oil and Gas
sector. Served as GM of ONGC with
specialisation in several areas of Oil and
Gas operations.
Vipul Singhal
General Manager
Has experience of 12+ years in
planning, drilling and completions. He
has worked as Drilling Engineer in
Reliance Industries Limited and
supervised operations.
Business Opportunity Annexures
6
Dharen Salva,
Executive Director
MBA from Swinburne University of
Technology, Australia, is instrumental in
the Work Over Rig and Drilling Rig
Activities of the Company. He is also
responsible for the HR department.
N.S. Ghai,
Senior Vice President
Holder of certificate in drilling from
International Well Control Forum and has
over 46 years of experience in drilling for
conventional Oil & Gas and CBM wells in
ONGC, Reliance Industries and Essar
Rohan Shah
Chief Financial Officer
Holds CA degree from The Institute of
Chartered Accounts of India and holds a
B.Com degree from Gujarat University.
He has about 9 years of post
qualification experience.
Corporate Presentation
 General Introduction Company Overview Key Highlights Business Opportunity Annexures

Business Opportunity
Further expansion in oil and gas services sector in India

Increase market share in in Gas Compression Business

Expand Rigs business by capitalizing new opportunities created by increased demand on exit of one of the
existing players

Leverage our experience and track record in the gas compression to get new contracts for gas dehydration

Focus on expansion while maintaining margins

Expansion of assets base to cater to new opportunities in all three segments of Oil and Gas Services

16 Corporate Presentation
 General Introduction Company Overview Key Highlights Business Opportunity Annexures

Business Opportunity
Leveraging technical expertise to target opportunities in the GDU space

Changing market dyncamics to provide an opportunity to players

Need for Dehydration

 In June 2014 a massive fire broke out following a blast in GAIL 18" size underground gas  Wet gas can form hydrates in pipelines,
Pipeline in East Godavari district of Andhra Pradesh, India which if accumulated can create plugs in
the pipeline.
 The blast at the ONGC site increased the scrutiny on the processes followed by
 Because of the potentially high hydrate
producers and resulted in regulations being made more stringent. contents in the gas the blockage can arise
within minutes without any prior warning.
 PNGRB has made it mandatory to have the Gas Dehydrated before they can be mounted
 This can lead to corrosion and leakages, or
to the gas pipelines. We expect gas dehydration to be outsourced, driven by: worse still, an explosion

– Specialised service providers who can provide shorter lead times

– Reduced capex requirement for upstream companies

– Risk mitigation and better performance

 The Gas Dehydration Business throws open an immense opportunity as most Public
Sector Undertaking would be happy to contract this business due to the time taken from
decision making to implementation, if they themselves have to install.

We believe, based on industry discussions, that the immediate potential for gas dehydration would be close to 10 MMSCMD

17 Corporate Presentation
 FY 2016

Thank you for your Interest

Annexures Follow

DEEP INDUSTRIES LIMITED

12A & 14, Abhishree Corporate Park, Ambli Bopal Road, Ambli, Ahmedabad - 380058
 General Introduction Company Overview Key Highlights Business Opportunity Annexure

Annexure 1
Financial Snapshot | Income Statement & Balance Sheet
Income Statement (Consolidated) Balance Sheet (Consolidated)
Balance Sheet FY 2013 FY 2014 FY 2015
Income Statement FY 2013 FY 2014 FY 2015
Share Capital 263 263 292
Total Revenue from Oil & Gas Services 651 908 1,013 Reserves & Surplus 1,457 1,583 1,904
Money Received Against Share Warrants - 90 -
Other Income 18 12 13 Total Shareholders Funds 1,720 1,936 2,196

Total Revenue 669 920 1,026

Term Loans 799 1,055 1,018
Operating Expenses 164 224 245 Deferred Tax Liabilities 174 235 290
Other Long Term Liabilities 1 15 15
Employee Benefit Expenses 68 93 133
Working Capital Borrowings 76 62 123
Other Expenses 55 65 82
Trade Payables 56 60 75
Preliminary Expenses Written Off 4 4 4 Other Current Liabilities 5 3 3
Short Term Provisions 172 219 119
Total Operating Expenses 291 386 463 Total Shareholders Equity & Liabilities 3,003 3,586 3,840

TOTAL ASSETS
EBITDA 378 534 563 Tangible Assets 1,970 2,375 2,707
Intangible Assets 3 3 1
EBITDA Margin 56.5% 58.0% 54.9% Capital Work In Progress 498 515 500
Total Fixed Assets 2,472 2,893 3,209
Non Current Investments 3 3 3
Depreciation & Amortization Expenses 101 120 121 Long Term Loans & Advances 26 7 5
Other Non Current Assets 25 26 34
EBIT 277 413 442
Current Investments 37 42 10
Finance Costs 64 85 108 Inventories 48 41 59
Trade Receivables 136 167 260
EBT 213 328 334
Cash & Equivalents 66 111 109
Total Tax Expense 91 127 121 Short Term Loans & Advances 164 267 131
Other Current Assets 27 30 20
Profit for the Year 121 200 213 Total Assets 3,003 3,586 3,840

19 All figures in ₹ million Corporate Presentation

 General Introduction Company Overview Key Highlights Business Opportunity Annexure

Annexure 2
Corporate Structure

Deep Industries

Deep Natural Resources Prabha Energy Private

Deep Energy LLC Deep Global Pte Ltd
Limited Limited

Subsidiary Subsidiary
Subsidiary Subsidiary
(70%) (71.4%)

20 Corporate Presentation