Rs 803.2 crore order book: Piping solutions company bags new order worth Rs 9,11,08,666 from CB&I India Private Limited
The company has a market cap of Rs 2,386 crore and an order book of over Rs 803.20 crore as of June 2024.
DEE Development Engineers Limited has successfully obtained a domestic contract from CB&I India Private Limited to fabricate piping spools. This specialized job work, valued at Rs 9,11,08,666, requires the company to complete the fabrication process within 36 weeks from the receipt of free-issue materials. This contract demonstrates DEE Development Engineers Limited's expertise in piping fabrication and its ability to meet the demands of large-scale industrial projects.
Earlier, the company 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.
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 Rs 2,386 crore and an order book of over Rs 803.20 crore as of June 2024. On Friday, shares of DDEL plunged 0.35 per cent to Rs 345.50 per share from its previous closing of Rs 346.70 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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