Rs 803.2 crore order book: Piping solutions company bags new order worth Rs 26,58,87,943 from L&T Energy Hydrocarbon
The company has a market cap of over Rs 2,400 crore and an order book of over Rs 803.20 crore as of June 2024.
DEE Development Engineers Limited has secured a domestic order from L&T Energy Hydrocarbon; MFFK-Module Fabrication Facility, Kattupalli, near Ennore port, Taluk Ponneri, Distt. Tiruvallur, Tamil Nadu for piping spool fabrication, including NDT, PWHT, blasting, and painting. The order is valued at INR 26,58,87,943/- and is scheduled to be executed by July 30, 2025.
Additionally, the company has recently secured a significant international blanket price agreement with DOW Chemical Canada ULC valued at USD 407,104,000 for the fabrication of pipe spools over the next two years. This follows earlier international orders from Mitsubishi Heavy Industries Ltd and GE Vernova International LLC, totalling USD 17,53,244. Furthermore, the company secured a domestic order for 26.2 metric tons of P92 piping worth approximately Rs 6,33,00,000 from Bharat Heavy Electricals Limited. These combined orders demonstrate DEE Development Engineers Limited's growing international presence and strong capabilities in the fabrication of piping systems.
About the Company
Dee Development Engineers Limited (DDEL) is a global leader in specialized 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. With expanding manufacturing facilities in India and Thailand, DDEL is also venturing into power generation through biomass plants and wind turbine tower production, positioning itself for sustained growth and innovation across multiple sectors.
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According to Quarterly Results, the net sales increased by 17.6 per cent to Rs 184.97 crore in Q1FY25 compared to Rs 157.34 crore in Q1FY24. The company reported a net profit of Rs 3.19 crore in Q1FY25 compared to a net loss of Rs 4.58 crore in Q1FY24, an increase of 170 per cent. In its annual results, the company reported net sales of Rs 789 crore and net profit of Rs 26.21 crore in FY24.
The company has a market cap of over Rs 2,400 crore and an order book of over Rs 803.20 crore as of June 2024. On Wednesday, shares of DDEL gained 0.27 per cent to Rs 348.90 per share from its previous closing of Rs 347.95 per share. The stock’s 52-week high is Rs 400 while its 52-week low is Rs 310.20. Investors should keep an eye on this small-cap stock.
Disclaimer: The article is for informational purposes only and not investment advice.
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