Dee Development Engineers Posts Strong Fy26 Results

25 May 2026 CW Team

DEE Development Engineers Limited reported audited results for the quarter and year ended 31 March 2026, recording robust growth across key metrics. Full year revenue rose to Rs 11,420 million (mn), representing a year on year increase of 38 per cent, while operating EBITDA reached Rs 1,912 mn, up 54.5 per cent. Profit after tax for the year was Rs 772 mn, reflecting a rise of 76.9 per cent.

In the fourth quarter the company delivered revenue of Rs 3,616 mn, a sequential improvement driven by healthy execution in the piping segment and sustained supplies to the oil and gas and power sectors. Quarterly operating EBITDA was Rs 636 mn and the full year operating EBITDA margin stood at 16.7 per cent. The year included a one time Labour Code liability of Rs 19 mn, which affected statutory results.

The closing order book was Rs 19,400 mn as on 31 March 2026, up from Rs 12,280 mn a year earlier, with an additional L1 position of Rs 2,110 mn providing further near term visibility. The company has entered into a reservation agreement with an international engineering, procurement and construction company to book 60 per cent of its HRSG pipe spool fabrication capacity, with a minimum annual job value of US$ 15.27 million per annum, effective from 1 June 2027 to 31 December 2029. The biomass pellet facility has become operational and the power business saw a tariff revision at Malwa Power from Rs three point five zero to Rs five point two two four per kWh, with a retrospective recovery equivalent to Rs 58 mn.

Management noted that ramp up of the seven thousand MTPA seamless pipe plant and the 30,000 MTPA Anjar fabrication unit is expected to drive operating leverage and efficiencies. Improving cash flows and operating performance are expected to support gradual reduction in debt levels and stabilise segment profitability. The company continues to pursue restructuring and tariff optimisation avenues while maintaining focus on execution and margin enhancement.

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