DEE Development Engineers Ltd

DEEDEV

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Market Cap

₹ 1,566 Cr

P/E

31.81

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Performance

UNDER PERFORMER

Valuation

REASONABLE

Growth

STABLE

Profitability

MODERATE MARGIN

Technicals

Bearish

Risk

MODERATE RISK

Investment Checklist

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Price

PE Ratio

Price

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Overview

Detailed Summary

DEE Development Engineers Limited is a specialized engineering company providing process piping solutions across industries, including oil and gas, nuclear power, and chemicals.

The company experienced robust revenue growth of 39.2% year-on-year in Q2 FY26, bolstered by a strong order book and substantial new orders in the power sector.

DEE has expanded its production capabilities by commissioning new facilities, notably enhancing its plant capacity at the Anjar unit, aiming to support higher demand and operational excellence.

The strategic shift towards high-margin products and the incorporation of advanced automation underline DEE's focus on improving operational efficiency and profitability.

DEE actively pursues strategic partnerships and expansions in new business verticals such as pilot plants and green hydrogen, broadening its growth avenues and sustainability focus.

Sector

Steel

Industry

Steel - Tubes / Pipes

Market Cap

1,566 Cr

Volatility

High Risk

P/E Ratio

31.8

Industry P/E

25.9

PEG Ratio

0.4

P/B Ratio

1.9

52W High

354.10

52W Low

166.60

Sales CAGR

4.89%

19.93%

0.61%

10Y

—

Profit CAGR

66.46%

23.79%

-3.27%

10Y

—

ROE

TTM

5.88%

3.44%

3.50%

10Y

—

ROCE

TTM

7.72%

8.74%

8.26%

10Y

—

Technicals

Oscillators

BearishNeutralBullish

Neutral

Bearish

Neutral

Bullish

Overall

BearishNeutralBullish

Bearish

Neutral

Bullish

Moving Averages

BearishNeutralBullish

Bearish

Neutral

Bullish

Overall

BearishNeutralBullish

Bearish

Neutral

Bullish

Forecasts

Peers

Symbol	Price	Market Cap	P/E	P/B	Div Yield (%)	ROE (%)	ROCE (%)	ROA (%)
VENUSPIPES	1262.50	2,609 Cr	28.19	4.15	0.08	15.21	18.80	7.87
JTLIND	61.45	2,344 Cr	29.50	1.87	0.21	6.34	8.12	5.23
HITECH	94.15	1,902 Cr	24.39	1.46	0.03	6.00	8.87	4.09
RAMASTEEL	10.13	1,657 Cr	84.42	3.55	0.00	4.09	6.26	2.16
DEEDEV	227.15	1,566 Cr	31.81	1.87	0.00	5.88	7.72	2.68
HARIOMPIPE	363.20	1,126 Cr	18.02	1.86	0.17	10.33	13.24	5.46
SCODATUBES	155.70	931 Cr	24.74	2.49	0.00	10.06	12.51	5.31

Financial Statements

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Consolidated Quarterly Results (in ₹ Crores)

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Total Figures

QoQ Changes

Total Figures

	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025
Sales	157	179	210	243	185	194	162	286	224	270
Expenses	143	155	180	209	160	164	156	223	188	226
Operating Profit	14	24	30	35	25	30	5.66	64	36	44
OPM %	8.94	13.41	14.28	14.21	13.40	15.36	3.49	22.18	16.03	16.32
Other Income	2.12	7.57	2.62	5.78	3.20	16	-0.89	2.60	4.09	5.17
Interest	7.99	10	9.89	12	11	7.12	9.90	12	11	14
Depreciation	11	11	12	12	13	13	12	12	13	13
Profit Before Tax	-2.57	11	11	16	4.39	26	-17	42	16	22
Tax %	-78.21	8.86	16.08	27.97	27.56	14.80	23.74	25.51	16.73	20.37
Net Profit	-4.58	9.89	9.03	12	3.19	22	-13	32	13	18
EPS in Rs	—	1.43	—	—	0.60	3.60	-2.08	4.56	1.90	2.56

Consolidated Profit Loss (in ₹ Crores)

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Total Figures

YoY Changes

Total Figures

	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	TTM
Sales	723	495	461	595	789	827	866
Expenses	641	442	396	526	686	704	731
Operating Profit	82	54	65	69	103	124	135
OPM %	11.30	10.84	14.02	11.62	13.00	14.96	15.57
Other Income	16	18	9.92	19	18	21	22
Interest	38	27	25	30	40	40	40
Depreciation	33	36	36	38	45	49	50
Profit Before Tax	27	8.83	13	20	36	55	67
Tax %	53.47	-59.53	38.34	36.32	26.20	21.17	19.72
Net Profit	13	14	8.20	13	26	44	54
EPS in Rs	—	—	—	—	4.50	6.67	6.94
Dividend Payout %	5.09	0.00	0.00	0.00	0.00	0.00	—

Consolidated Balance Sheet (in ₹ Crores)

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Total Figures

YoY Changes

Total Figures

	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Equity Capital	16	16	11	11	53	69
Reserves	422	439	401	413	398	732
Borrowings	284	257	290	364	460	431
Other Liabilities	191	124	143	179	298	362
Total Liabilities	913	836	845	966	1,209	1,593
Fixed Assets	388	365	354	381	414	422
CWIP	1.97	2.00	4.27	3.49	66	148
Investments	0.00	0.01	0.01	0.01	0.01	0.00
Other Assets	523	469	487	582	729	1,024
Total Assets	913	836	845	966	1,209	1,593

Consolidated Cash Flows (in ₹ Crores)

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Total Figures

YoY Changes

Total Figures

	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Cash from Operating Activity	71	96	67	14	103	-60
Cash from Investing Activity	-19	-6.77	-22	-52	-145	-164
Cash from Financing Activity	-65	-88	-50	40	43	227
Net Cash Flow	-13	1.18	-4.71	1.48	0.71	3.36

Shareholdings

Shareholding History

Quarterly

Yearly

Quarterly

	Sep 2023	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025
Promoters	100.00%	70.17%	70.17%	70.17%	70.29%	70.21%	70.21%
FIIs	0.00%	5.85%	2.23%	0.83%	0.65%	0.81%	0.79%
DIIs	0.00%	12.10%	16.17%	16.52%	17.43%	17.32%	16.61%
Public	0.00%	11.87%	11.43%	12.47%	11.62%	11.65%	12.39%
Total Shareholders	8	67,136	55,246	54,609	51,116	50,039	49,098

Market Transactions

Date	Party	Category	Type	Avg Price (₹)	Total Value (₹)	Quantity	Percent Traded
Dec 12, 2025	Krishan lalit bansal	Insider - Promoter & Director	Acquisition	211.76	0.66 Cr	30,986	0.04
Dec 12, 2025	Krishan lalit bansal	Insider - Promoter & Director	Acquisition	214.77	0.04 Cr	2,056	0.00
Mar 03, 2025	Krishan lalit bansal	Insider - Promoter & Director	Acquisition	206.04	0.12 Cr	5,750	0.00
Mar 03, 2025	Krishan lalit bansal	Insider - Promoter & Director	Acquisition	210.18	0.38 Cr	18,271	0.02
Feb 27, 2025	Krishan lalit bansal	Insider - Designated Person	Acquisition	2,024.75	5.06 Cr	25,000	0.03
Feb 26, 2025	Krishan lalit bansal	Insider - Promoter & Director	Acquisition	195.01	0.50 Cr	25,800	0.03
Jul 05, 2024	Mathisys advisors llp	Bulk	Sell	374.26	13.75 Cr	3,67,296	0.53
Jul 05, 2024	Mathisys advisors llp	Bulk	Buy	374.09	13.84 Cr	3,70,022	0.53
Jun 26, 2024	Irage broking services llp	Bulk	Sell	339.87	9.32 Cr	2,74,112	0.39
Jun 26, 2024	Irage broking services llp	Bulk	Buy	342.90	15.45 Cr	4,50,441	0.65

Projection

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Q2 FY26

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Q4 FY25

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Q3 FY25

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Q2 FY25

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Overview

Detailed Summary

DEE Development Engineers Limited is a specialized engineering company providing process piping solutions across industries, including oil and gas, nuclear power, and chemicals.

The company experienced robust revenue growth of 39.2% year-on-year in Q2 FY26, bolstered by a strong order book and substantial new orders in the power sector.

DEE has expanded its production capabilities by commissioning new facilities, notably enhancing its plant capacity at the Anjar unit, aiming to support higher demand and operational excellence.

The strategic shift towards high-margin products and the incorporation of advanced automation underline DEE's focus on improving operational efficiency and profitability.

DEE actively pursues strategic partnerships and expansions in new business verticals such as pilot plants and green hydrogen, broadening its growth avenues and sustainability focus.

Sector

Steel

Industry

Steel - Tubes / Pipes

Market Cap

1,566 Cr

Volatility

High Risk

P/E Ratio

31.8

Industry P/E

25.9

PEG Ratio

0.4

P/B Ratio

1.9

52W High

354.10

52W Low

166.60

Sales CAGR

4.89%

19.93%

0.61%

10Y

—

Profit CAGR

66.46%

23.79%

-3.27%

10Y

—

ROE

TTM

5.88%

3.44%

3.50%

10Y

—

ROCE

TTM

7.72%

8.74%

8.26%

10Y

—