Rs 1,303 crore order book: Engineering company receives USD 40 million order from an International Entity

DEE Development Engineers Limited (DDEL) has secured a significant international contract with a major U.S.-based power sector OEM conglomerate to supply process piping solutions for Heat Recovery Steam Generator (HRSG) projects. This agreement, formalised through a Letter of Intent valid until February 18, 2027, involves the supply of HRSG piping for 16 units. While specific customer details remain confidential due to commercial sensitivities, the deal represents a substantial global expansion for DDEL, with an aggregate order value exceeding USD 40 million.

About the Company

Dee Development Engineers Limited (DDEL) is a global leader in specialised process piping solutions, catering to sectors like oil and gas, power (including nuclear), chemicals, and other process industries. Offering a comprehensive service from design to manufacturing, DDEL produces a wide range of piping products, including high-pressure systems and custom components. As India's largest player in this domain by installed capacity, the company has a strong international footprint, generating over half its revenue from markets like Canada, Thailand, and the USA.

DEE Development Engineers delivered stellar performance in Q3FY26, characterised by a 77 per cent YoY revenue surge to Rs 286.7 crore, fueled by robust execution in the piping and fittings segment. Operating EBITDA witnessed an extraordinary leap of 666.4 per cent YoY to reach Rs 43.40 crore, benefiting from significant operating leverage and enhanced capacity utilisation.

While the company recorded a PAT of Rs 18.6 crore, its core business margins remained resilient at 18.04 per cent after adjusting for one-time labour code impacts and non-core losses. With a healthy closing Order Book of Rs 1,302.73 crore and fresh inflows of Rs 251 crore from the power sector, the company maintains a strong growth trajectory backed by sustained demand in the oil and gas industries. The stock is up by 35 per cent from its 52-week low of Rs 178 per share.

Disclaimer: The article is for informational purposes only and not investment advice.