Construction & Engineering company DEE Development Engineers announced Q1FY27 results Consolidated Financial Highlights: Revenue from Operations: For Q1FY27, revenue from operations was reported at Rs 29,446.22 lakh, marking a YoY growth of 31.59% from Rs 22,375.83 lakh in Q1FY26, and a QoQ decline of 18.56% compared to Rs 36,157.33 lakh in Q4FY26. Total Income: The consolidated total income for Q1FY27 stood at Rs 29,694.11 lakh, reflecting a 30.32% YoY increase from Rs 22,784.80 lakh in Q1FY26, and an 18.27% QoQ decrease from Rs 36,332.32 lakh in Q4FY26. Profit Before Tax: The company reported a consolidated profit before tax of Rs 2,005.43 lakh in Q1FY27, up 27.12% YoY from Rs 1,577.59 lakh in Q1FY26. On a QoQ basis, it saw a decrease of 47.06% from Rs 3,787.82 lakh in Q4FY26. Net Profit: Net profit for Q1FY27 was reported at Rs 1,608.30 lakh, a YoY growth of 22.40% compared to Rs 1,313.94 lakh in Q1FY26, and a QoQ decline of 41.89% from Rs 2,767.50 lakh in Q4FY26. Total Comprehensive Income: For Q1FY27, the total comprehensive income reached Rs 1,603.32 lakh, compared to Rs 1,359.95 lakh in Q1FY26 and Rs 2,909.75 lakh in Q4FY26. Standalone Financial Highlights: Revenue from Operations: Standalone revenue in Q1FY27 was Rs 23,849.46 lakh, representing a 40.43% YoY increase from Rs 16,983.16 lakh in Q1FY26, but a 22.33% QoQ decline from Rs 30,707.61 lakh in Q4FY26. Total Income: Total standalone income for Q1FY27 stood at Rs 24,133.10 lakh, up 40.45% YoY from Rs 17,182.69 lakh in Q1FY26, and down 22.11% QoQ compared to Rs 30,982.32 lakh in Q4FY26. Profit Before Tax: For Q1FY27, standalone profit before tax was Rs 1,414.13 lakh, a 47.53% YoY growth from Rs 958.54 lakh in Q1FY26, and a 48.21% QoQ decrease from Rs 2,730.66 lakh in Q4FY26. Net Profit: Standalone net profit for Q1FY27 reached Rs 1,052.31 lakh, reflecting a 47.45% YoY growth from Rs 713.70 lakh in Q1FY26, and a 48.11% QoQ decline from Rs 2,027.87 lakh in Q4FY26. Business Highlights: Solar Power Plant Approval: The Board approved the setting up of an 8MW Captive Behind-The-Meter Solar Power Plant at its manufacturing units in Kuthrel at an estimated cost of up to Rs 250 million. The project will be implemented in two phases, with Phase I (up to 3.2 MW) expected by FY 2028 and Phase II (up to 4.8 MW) by FY 2029. Segment Performance: Piping Division: Reported revenue of Rs 26,225.94 lakh and a segment profit of Rs 3,695.37 lakh. Power Division: Reported revenue of Rs 1,836.76 lakh and a segment loss of Rs 120.86 lakh. Heavy Fabrication: Reported revenue of Rs 1,534.93 lakh and a segment profit of Rs 367.66 lakh. Utilization of IPO Proceeds: The company utilized the entire Rs 4,400.00 million raised from its fresh issue IPO as of June 30, 2026. Rs 3,900.00 million was used for prepayment or repayment of borrowings, and Rs 224.55 million for general corporate purposes. Tariff Revision Dispute: The company is involved in a sub judice dispute with Punjab State Power Corporation Limited (PSPCL) regarding a retrospective downward revision of tariff for its 8 MW biomass plant at Abohar, Punjab. While PSERC orders had reduced the tariff, the Punjab & Haryana High Court has stayed those orders as of September 23, 2025. Subsidiary Performance - Malwa Power Private Limited (MPPL): MPPL, which operates a 6 MW biomass power plant, is facing uncertainty due to ongoing tariff determination proceedings. The consolidated results include assets worth Rs 5,082.67 lakh relating to MPPL as of June 30, 2026. Result PDF
Construction & Engineering company DEE Development Engineers announced Q4FY26 & FY26 results Consolidated Financial Highlights: Revenue from operations for Q4FY26 stood at Rs 361.57 crore, representing an increase of 26.13% QoQ from Rs 286.67 crore in Q3FY26 and a growth of 26.26% YoY compared to Rs 286.37 crore in Q4FY25. Total income for the quarter Q4FY26 was Rs 363.32 crore, compared to Rs 292.30 crore in Q3FY26 (up 24.30% QoQ) and Rs 288.97 crore in Q4FY25 (up 25.73% YoY). Profit for the period (PAT) in Q4FY26 reached Rs 27.68 crore, marking a 49.16% increase QoQ from Rs 18.55 crore, although it saw a decline of 12.15% YoY from Rs 31.51 crore. For the full year FY26, Revenue from operations grew by 38.03% YoY to Rs 1,142.00 crore from Rs 827.36 crore in FY25. The annual Total income for FY26 reached Rs 1,158.64 crore, a 36.59% growth over Rs 848.26 crore in FY25. Net profit for FY26 stood at Rs 77.17 crore, showing a significant growth of 76.87% YoY from Rs 43.63 crore in the previous year. Standalone Financial Highlights: Revenue from operations for Q4FY26 was Rs 307.08 crore, vs Rs 226.11 crore in Q3FY26 (up 35.81% QoQ) and Rs 241.51 crore in Q4FY25 (up 27.15% YoY). Profit for the period (PAT) for the quarter Q4FY26 stood at Rs 20.28 crore, compared to Rs 15.51 crore in Q3FY26 (up 30.75% QoQ) and Rs 29.38 crore in Q4FY25 (down 30.97% YoY). For the full year FY26, standalone Revenue from operations increased by 43.78% YoY to Rs 918.56 crore compared to Rs 638.87 crore in FY25. Standalone Net profit for FY26 grew by 140.77% YoY to Rs 56.22 crore from Rs 23.35 crore in the previous year. Business Highlights: Segment Wise Performance (Consolidated Revenue): Piping division: Revenue for FY26 stood at Rs 1,009.40 crore, compared to Rs 702.43 crore in FY25. Power division: Revenue for FY26 was Rs 58.84 crore, vs Rs 83.87 crore in FY25. Heavy fabrication: Revenue for FY26 reached Rs 80.49 crore, compared to Rs 50.64 crore in FY25. Acquisition: During the year, the Company invested Rs 6.59 crore to acquire a 70% shareholding in Molsieve Designs Limited and recognized a goodwill of Rs 6.03 crore in its consolidated financial statements. Audit Qualification Note: The consolidated financial results include assets of Rs 47.62 crore pertaining to Malwa Power Private Limited (MPPL), a wholly-owned subsidiary. Management has not carried out an impairment assessment of this subsidiary following the expiry of its Power Purchase Agreement (PPA) on April 27, 2025. Krishan Lalit Bansal, Chairman & Managing Director, DEE Development Engineers said: “During FY26, we delivered a strong set of operating and financial results, with healthy growth in revenue, Operating EBITDA, and PAT, driven by robust execution in our piping segment catering to the oil & gas and power sector. At a macro level, India’s capital expenditure cycle is gaining momentum, with corporates across infrastructure, energy, and industrial segments expected to significantly ramp up investment in plant and equipment supporting demand for project delivery and capacity expansion. In our core business, the commencement of seamless pipe plant marks a key milestone in our growth trajectory strengthening our capabilities and capacity, expanding our presence in high-growth segments. As utilisation ramps up, the plant is expected to support operating leverage and margin improvement. The ramp-up of the 7,000 MTPA seamless pipe plant and the 30,000 MTPA Anjar pipe fabrication unit is expected to drive operating leverage and improve overall efficiencies. Margins in the core business are expected to benefit from a favorable shift in the power mix, leading to better cost efficiencies. We continue to maintain a robust order book of Rs 1,940 crore, providing strong revenue visibility and a healthy project pipeline across key segments, which underpins sustained execution momentum in the quarters ahead. In the non-core power generation segment, the tariff revision at Malwa Power to Rs 5.22 per kWh (from Rs 3.50) marks a meaningful improvement in revenue visibility, along with a retrospective recovery of ~Rs 5.80 crore. The business is expected to generate ~Rs 80 crore in FY27 from power and biomass pellets combined. Our biomass pellet facility recently became operational, which is expected to offset the current cash burn, stabilize segment profitability, and support margin improvement going forward. The Company continues to evaluate an APTEL appeal for further tariff optimization, while progressing restructuring initiatives to enhance long-term sustainability and operational efficiency. Additionally, we are delighted to announce the recent entry into a Reservation Agreement with an international EPC company to reserve 60% of our total HRSG pipe spool fabrication capacity, with a minimum annual job value of US$ 15.27 million. As a leading player in engineering and piping solutions, Dee Development Engineers leverages deep technical expertise, rich industry experience, and a proven track record of successfully executing complex projects across diverse geographies. With a strong footprint across energy, infrastructure, and industrial end markets, we remain confident in our ability to deliver sustainable growth and create long term value for our stakeholders in the quarters ahead. Further, improving cash flows and operating performance are expected to support gradual reduction in debt levels going forward.” Result PDF
Construction & Engineering company DEE Development Engineers announced Q3FY26 results Revenue: Rs 28,666.77 lakh against Rs 16,200.27 lakh during Q3FY25, change 77%. PBT: Rs 2,025.07 lakh against Rs -1,747.87 lakh during Q3FY25, change 216%. PAT: Rs 1,855.42 lakh against Rs -1,332.68 lakh during Q3FY25, change 239%. EPS: Rs 2.68 for Q3FY26. Result PDF
Construction & Engineering company DEE Development Engineers announced Q2FY26 results Financial Highlights: Operating Income at Rs 27,000 Lakhs for Q2FY26, registering a growth of 39.2% YoY Total income at Rs 27,517 Lakhs for Q2FY26, registering a growth of 31.0% YoY Operating EBITDA at Rs 4,406 Lakhs in Q2FY26, up by 47.9% YoY. Op EBITDA Margin stood at 16.3% PBT (excluding Other Income) stood at Rs 1,717 Lakhs for Q2FY26, up by 69.1% YoY PAT stood at Rs 1,786 Lakhs in Q2FY26, PAT Margin was at 6.5% Krishan Lalit Bansal, Chairman, DEE Development Engineers said: “We are pleased to announce a very strong performance for the quarter and half year ended September 30, 2025, underscored by robust revenue growth and consistent operational execution. Operating Income for the quarter stood at Rs 27,000 Lakhs, reflecting a strong year-on-year growth of 39.2% and a sequential increase of 20.7%. Operating EBITDA for the quarter rose 47.9% year-on-year to Rs 4,406 Lakhs, with margins expanding by 96 bps to 16.3%. Q2FY26 PAT stood at Rs 1,786 Lakhs, with a margin of 6.5%. The year-on-year fall in PAT was primarily attributable to an exceptionally high other income of Rs 1,598 Lakhs in Q2FY25, arising from non-recurring items. Adjusting for this, the normalized Operating PBT for Q2FY25 would have been Rs 1,016 as against Rs 1,717 Lakhs in Q2FY26, reflecting a growth of 69% in the underlying operational profitability. For H1FY26, Revenue from Operations grew 30.3% year-on-year to Rs 49,376 Lakhs. Operating EBITDA increased 46.4% to Rs 7,993 Lakhs, with margins expanding by 179 bps to 16.2%. PAT for H1FY26 stood at Rs3,106 Lakhs, up 22.1% year-on-year The Company continues to witness traction in the power sector, with new orders received of Rs 170 crore from leading thermal power players. Supported by healthy demand from the oil and gas segment and an order book of Rs 1,308 crore as on 30th September 2025, the Company remains well positioned for sustained growth. On the operational front, the Company commissioned its production capacity of 30,000 MT at its Anjar facility on 8th September 2025, marking a key milestone in its expansion journey. Commissioning of 7,000 MT Seamless Pipe Plant is on track for commissioning by the end of Q3FY26 and is on course to commence commercial production by January 2026, further strengthening backward integration and cost competitiveness. Looking ahead, the Company remains focused on execution excellence, expanding capacities, and capitalizing on emerging opportunities to drive sustainable growth and long-term value for all stakeholders.” Result PDF
Construction & Engineering company DEE Development Engineers announced Q1FY26 results Total income at Rs 22,785 lakh for Q1 FY26, registering a growth of 21.1% YoY. EBITDA at Rs 3,996 lakh in Q1 FY26, up by 42.8% YoY. EBITDA Margin stood at 17.5%. PAT stood at Rs 1,320 lakh in Q1 FY26, up by 314.3% YoY. PAT Margin was at 5.8%. Krishan Lalit Bansal, Chairman, DEE Development Engineers, said: “We are pleased to report a strong start to FY26, reflecting our continued focus on execution, operational efficiency, and strategic growth. In Q1, total income stood at Rs 22,785 lakh, up 21.1% year-on-year. EBITDA grew 42.8% to Rs 3,996 lakh, with margins expanding by 266 bps to 17.5%. Profit After Tax increased sharply by 314.3% to Rs 1,320 lakh, taking the PAT margin to 5.8%. Our order book remains robust at Rs 1,22,666 lakh as of July 31, 2025, providing healthy visibility for the coming quarters. On the operational front, the expansion at our Anjar facility is progressing ahead of schedule, with the additional 15,000 MTPA capacity set to be commissioned by end-August 2025, two months earlier than planned. This will increase the facility’s total capacity (excluding heavy fabrication) to 30,000 MTPA. Our high-wall seamless thickness pipe plant is also on track to commence commercial production by January 2026, marking a significant step in our backward integration strategy to improve supply chain efficiency and cost competitiveness. We are also seeing strong traction in the power sector, with active participation in multiple tenders and L1 positions secured in several bids from leading thermal power players. Coupled with robust demand from the oil & gas segment, this positions us well for sustained growth. During the quarter, we also made a strategic entry into the green hydrogen sector through a partnership with International Clean-Tech Partner, a global leader in sustainable energy technologies. Under this MoU, we will jointly develop, bid for, and execute modular hydrogen production system projects in India and Thailand. This collaboration combines their proven hydrogen technologies—including electrolysers, separators, and purification systems with our manufacturing and execution expertise, including ultra-pure hydrogen purification systems of up to 99.9999% purity. Our recent majority acquisition of M/s Molsieve Designs Limited further enhances our technical capabilities and capacity in this emerging sector. Looking ahead, we remain committed to delivering operational excellence, expanding capacities, and diversifying into high-growth, sustainable energy solutions, thus ensuring continued medium to long-term growth in top line as well as bottom line. We thank our employees, customers, partners, and shareholders for their continued trust and support as we work together to create long-term value.” Result PDF
Construction & Engineering company DEE Development Engineers announced Q4FY25 & FY25 results Q4FY25 Financial Highlights: Total income at Rs 28,897 lakhs for Q4FY25, registering a growth of 16.1% YoY and 79.4% QoQ EBITDA at Rs 6,611 lakhs in Q4FY25, up by 63.9% YoY and 1,284.9% QoQ. EBITDA Margin stood at 22.9% PAT stood at Rs 3,151 lakhs in Q4FY25, up by 165.5% YoY. PAT Margin was at 10.9% FY25 Financial Highlights: Total income at Rs 84,826 lakhs for FY25, registering a growth of 5.1% YoY EBITDA at Rs 14,466 lakhs in FY25, up by 20.0% YoY. EBITDA Margin stood at 17.1% PAT stood at Rs 4,363 lakhs in FY25, up by 66.5% YoY Commenting on the results, Krishan Lalit Bansal, Chairman, DEE Development Engineers said: “We are delighted to share that the company has delivered strong, broad-based growth in the fourth quarter of Financial Year 2025. In Q4FY25, our total income reached Rs28,897 lakhs, reflecting a strong 16.1% year-on-year and 79.4% quarter-on-quarter growth. For the full year, total income stood at Rs84,826 lakhs, representing a 5.1% increase over FY24. Our orderbook as on April 30, 2025 stood at Rs 1,27,458 lakhs. Our operational performance remained resilient, with EBITDA rising to Rs6,611 lakhs in Q4FY25 — a 63.9% YoY and 1,284.9% QoQ growth. The quarterly EBITDA margin stood at 22.9%, up by 667 basis points YoY. For the full fiscal year, EBITDA came in at Rs14,466 lakhs, up 20.0% YoY, with the EBITDA margin improving by 211 basis points to 17.1%. Our profitability also witnessed strong growth, with Profit After Tax (PAT) for Q4FY25 standing at Rs 3,151 lakhs, marking 165.5% YoY growth. The PAT margin for the quarter was 10.9% registering a growth of 614 basis points. For FY25, PAT stood at Rs 4,363 lakhs, marking a growth of 66.5% YoY. Our Anjar Facility expansion is progressing as scheduled, with an additional 15,000 MTPA set to be commissioned by October 2025, taking the Anjar facility’s total capacity (excluding heavy fabrication) to 30,000 MTPA. Designed with a U-shaped layout and equipped with advanced automation, the plant enables efficient material handling, reduced operational costs, and boosting productivity. Its strategic proximity to Kandla and Mundra Ports enhances logistics efficiency and profitability. By focusing on the Oil & Gas sector, Anjar frees up the Palwal facility to specialize in the Power sector, improving overall operational focus and resource allocation. Simultaneously, the development of our high-wall seamless thickness pipe plant is advancing on schedule. We remain firmly on track to commence commercial production by January 2026 — a key step in our backward integration strategy aimed at improving supply chain efficiency and cost competitiveness. As covered in the press release earlier this month, we are deeply disappointed with the recent downward revision of the tariff order for our two biomass power plants, issued by the Punjab State Electricity Regulatory Commission. It is our firm belief that the decision is legally untenable and also fails to reflect the ground realities of operating dedicated biomass power plants. Unlike co-generation units that use industrial by-products like bagasse, our plants rely solely on externally sourced paddy straw—a costly and logistics-intensive fuel. By equating two fundamentally different models, the Commission has made assumptions that are arbitrary and unsustainable. This decision undermines years of work toward rural empowerment and environmental protection. Our plants have prevented stubble burning across over 80,000 acres annually, provided livelihoods to more than 8,000 rural families, and directly supported India’s climate goals. Ignoring these contributions sets a worrying precedent for the future of green energy in India. We urge the authorities to revisit this matter with fairness and vision. Our projects are more than just power plants—they are instruments of social, economic, and environmental transformation Looking ahead, we remain committed to operational excellence, strategic technology investments, and sustainable growth. We will continue to adapt our strategies to ensure long-term value for all our stakeholders. We sincerely appreciate your continued trust and support, and we look forward to achieving new milestones together.” Result PDF
Construction & Engineering company DEE Development Engineers announced Q3FY25 results Total income at Rs 16,111 lakh for Q3FY25, registering a degrowth of 24.1% YoY. EBITDA at Rs 477 lakh in Q3FY25, down by 85.3% YoY. EBITDA Margin stood at 3.0%. PAT stood at Rs (1,333) lakh in Q3FY25, compared to Rs 903 lakh in the previous quarter last year. Diluted EPS stood at Rs (2.08) in Q3FY25 as against Rs 1.70 in Q3FY24. Krishan Lalit Bansal, Chairman, DEE Development Engineers, said: “We acknowledge that the financial performance for the recent quarter has been weak, with Total Income decreasing by 24.1% YoY to Rs 16,111 lakh. However, our order book remains strong, reaching Rs 1,39,372 lakh as of December 31, 2024, compared to Rs 1,19,213 lakh as of September 30, 2024. EBITDA has declined by 85.3% YoY to Rs 477 lakh, resulting in an EBITDA margin of 3.0% for Q3FY25, down from 15.3% in Q3FY24. The company’s Profit After Tax for Q3FY25 stood at Rs (1,333) lakh, reflecting a decline of 247.6% YoY. The weak performance this quarter can be attributed to the underutilization of capacity at our Palwal facility, which had been allocated for a significant order from one of India’s leading Oil & Gas companies. This Rs 13,900 lakh project involves the establishment of India’s first Propane Dehydrogenation (PDH) Plant. As this is the first project of its kind in the country, there has been a six-month delay in obtaining drawings and material approvals, impacting the overall execution timeline. While the order was awarded in October 2023, it was initially expected to be completed by March 31, 2025. Additionally, another international order, valued over Rs 5,100 lakh, faced a delay due to late revisions in material specifications by the customer, resulting in execution being pushed to Q4’FY25 instead of Q3’FY25. As previously committed, we are pleased to report that we successfully expanded capacity at our New Anjar Facility II by 9,000 MT per annum in end January 2025, which strengthens our growth prospects moving forward. Furthermore, we remain on track to increase capacity by an additional 15,000 MT per annum by October 2025. We are also pleased to announce that the setup of our high-wall seamless thickness pipe plant is progressing as planned. We remain on schedule to commence commercial production by January 2026. We continue to optimize our operations and seize emerging market opportunities. Our focus remains on maintaining capital discipline, investing in new technologies, and upholding sustainable business practices. Given the prevailing market uncertainties, we will closely monitor economic trends and adjust our strategy to drive long-term value for all stakeholders. We appreciate your continued trust and support, and we look forward to achieving new milestones together.” Result PDF
Construction & Engineering company DEE Development Engineers announced H1FY25 & Q2FY25 results Total income at Rs 21,000 lakh for Q2FY25, registering a growth of 11.6% QoQ and 12.8% YoY. Total income at Rs 39,818 lakh for H1FY25, registering a growth of 15.2% YoY. EBITDA at Rs 4,578 lakh in Q2FY25, up 63.5% QoQ and 45.3% YoY. EBITDA Margin was at 21.8%, up by 692 basis points QoQ and 487 basis points YoY. EBITDA at Rs 7,377 lakh in H1FY25, up 54.7% YoY. EBITDA Margin was at 18.5%, up by 473 basis points YoY PAT stood at Rs 2,226 lakh in Q2FY25, up by 598.8% QoQ and 125.2% YoY. PAT Margin was at 10.6%. Diluted EPS stood at Rs 3.60 in Q2FY25 as against Rs 1.86 in Q2 FY24. PAT stood at Rs 2,545 lakh in H1FY25, up by 379.4%. PAT Margin was at 6.4%. Diluted EPS stood at Rs 4.11 in H1FY25 as against Rs 1.00 in H1FY24. Krishan Lalit Bansal, Chairman, DEE Development Engineers, said: “We are pleased to report that the company demonstrated robust growth in the quarter gone by, with Total Income increasing by 11.6% QoQ & 12.8% YoY to Rs 21,000 lakh and by 15.2% YoY in H1FY25, reaching Rs 39,818 lakh. The order book as on 30th September 2024 stood at Rs 1,19,213 lakh as against Rs 80,009 lakh as on 30th June 2024. EBITDA surged significantly, with a 63.5% QoQ & 45.3% YoY growth to Rs 4,578 lakh, and 54.7% YoY increase in H1FY25 to Rs 7,377 lakh . EBITDA Margin was at 21.8% for Q2FY25 and 18.5% for H1FY25. The company’s PAT reached Rs 2,226 lakh in Q2FY25, growing at 598.8% QoQ & 125.2% YoY, with a PAT Margin of 10.6%. For H1FY25, PAT increased by 379.4% YoY to Rs 2,545 lakh, with a PAT Margin of 6.4%. Our company remains steadfast in its dedication to automation and expanding capacity. We are currently setting up the New Anjar Facility II, which will scale our production capacity from 6,000 MT to 15,000 MT, increasing our total capacity to 1,12,500 MT. This facility will be commissioned by the end of Q3 FY25 and will play a pivotal role in reducing logistics costs, enhancing production efficiency, and lowering manpower cost. New Anjar Facility II is purpose-built to handle orders for the Oil and Gas sector, allowing our Palwal Facility to focus exclusively on the Power sector. This strategic allocation of operations will streamline logistics and optimize our supply chain, leveraging Anjar’s proximity to the Kandla Port in Gujarat. We are actively strengthening our infrastructure and capabilities to support the increasing capital expenditure in the Power and Oil & Gas sectors, positioning ourselves to meet the rising demand in these key industries. As part of this strategy, we have obtained approval from our Board of Directors to establish a plant for manufacturing seamless pipes, with an annual capacity of 7,000 tonnes, involving a capital expenditure of Rs9,000 lakh. This plant will manufacture forged seamless pipes of thicknesses up to 120 mm, using high-alloy steel and stainless steel (SS) grades. The pipes will be used in critical applications such as thermal power plants of more than 660 MW and subsea projects, where the requirement for high-quality, durable materials is critical. Thank you again for your continued trust. We look forward to this journey together. Result PDF