Rs 803.2 crore order book: Piping solutions company bags new international order worth USD 4,07,10,400 from DOW Chemical Canada ULC, Canada

The company has a market cap of Rs 2,464 crore and an order book of over Rs 803.20 crore as of June 2024

DEE Development Engineers Limited has secured a significant international blanket price agreement from DOW Chemical Canada ULC valued at USD 4,07,10,400. The contract mandates the fabrication of pipe spools, which are to be executed over a period of September 2024 to December 2026.

Earlier, the company secured international orders totalling USD 17,53,244 from Mitsubishi Heavy Industries Ltd and GE Vernova International LLC. Mitsubishi Heavy Industries had placed an order valued at USD 1,279,995 for pre-fabricated Carbon & Stainless-Steel Piping Items with a 10-month delivery timeline, while GE Vernova International had amended a previous order, increasing its value to USD 473,249 for pre-fabricated Carbon Steel Piping Items with a 7-month delivery schedule. Additionally, on July 25, 2024, a domestic order for 26.2 metric tons of P92 piping worth approximately Rs 6,33,00,000 was secured from Bharat Heavy Electricals Limited (BHEL), mandating delivery between June 25th and August 25th, 2025.

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. 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.

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 2,464 crore and an order book of over Rs 803.20 crore as of June 2024. On Wednesday, shares of DDEL plunged 2.91 per cent to Rs 356.80 per share from its previous closing of Rs 367.50 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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