This Industrial Pipe Manufacturer Secures Order Worth USD 49,70,000 from John Cockerill, Belgium; Keep This Stock on Radar!
The company’s shares have delivered an impressive return of over 80 per cent to its shareholders.
Dee Development Engineers Ltd offers specialized process piping solutions for sectors such as oil and gas, power (including nuclear), chemicals, and other process industries through its engineering, procurement, and manufacturing services. Today, the company secured an order worth USD 49,70,000 from JOHN COCKERILL S.A., Belgium, for the supply of CS, P11, P22, and P92 prefabricated HRSG piping. The project, located in Surkhandarya, Uzbekistan, involves a total tonnage of 682 MT, with the contract set to be executed between March 2025 and August 2025.
Dee Development Engineers Ltd shares closed at around Rs 366.85 per share. The company’s current market capitalization stands at Rs 2533.25 crore. The stock has delivered a return of over 80 per cent compared to the issue price of Rs 203 per share.
As per the Quarterly Results, in the fourth quarter of FY24, Dee Development Engineers Ltd recorded a revenue of Rs 243 crore. The operating profit for Q4 FY24 stood at Rs 35 crore. The net profit for Q4 FY24 was Rs 12 crore. Looking at the annual performance, the company generated a revenue of Rs 789 crore in FY24. The operating profit for FY24 was Rs 103 crore with a net profit of Rs 26 crore.
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According to the shareholding pattern, promoters own 70.18 per cent, and public investors own 12.11 per cent. FIIs owns a 5.85 per cent stake in the company.
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Disclaimer: The article is for informational purposes only and not investment advice.