Order Book Position (as of 31st August 2026)
The total order book stands at ₹2,428.20 crore, with the following breakdown:
Piping Segment - ₹2,204.20 crore
- DEE India: ₹1,219.86 crore (Power: ₹838.78 crore, Oil & Gas: ₹14.26 crore, Others: ₹170.10 crore)
- DEE Thailand: ₹0.17 crore (Oil & Gas)
- DEE Fabricom India: ₹181.06 crore (Oil & Gas: ₹181.06 crore, Power: ₹0.00 crore)
- Molsieve Design Ltd: ₹4.57 crore (Others)
Heavy Fabrication Segment - ₹70.26 crore
Gas Plants Segment - ₹3.34 crore
Power Segment - ₹150.40 crore
- Malwa Power: ₹3.34 crore (Power generation)
- Pellets Plant: ₹0.23 crore
- Other: ₹1.22 crore
Execution Details (August 1-31, 2026)
Total execution amount: ₹956.87 crore
Piping Segment Execution - ₹315.62 crore
- DEE India: ₹315.62 crore (Power: ₹455.49 crore, Oil & Gas: ₹35.79 crore, Others: ₹41.73 crore)
Heavy Fabrication Segment Execution - ₹84.37 crore
- DEE Thailand: -₹5.30 crore
- DEE Fabricom India: ₹84.37 crore
Gas Plants Segment Execution - ₹2.72 crore
- Molsieve Design Ltd: ₹2.72 crore
Power Segment Execution - ₹17.22 crore
- Malwa Power: ₹17.22 crore
- Pellets Plant: ₹2.97 crore
- Other: ₹6.26 crore
Power Tariff Disputes and Regulatory Matters
Malwa Power Private Limited Tariff Issue
The Punjab State Electricity Regulatory Commission (PSERC) passed an interim order revising the tariff to ₹3.50 per unit after the PPA expired on 26 April 2025.
PSERC's final order dated 27 March 2026 fixed the tariff for FY 2025-26 at ₹5.224/kWh (₹0.97 fixed + ₹4.254 variable) with 5% annual escalation on variable cost. Consequently, the tariff for FY 2026-27 is ₹5.437 per kWh.
The Company has filed an appeal before APTEL, New Delhi challenging the PSERC order and praying for increased tariffs as per CERC Regulations. The projected revenue for FY27 is approximately ₹47.71 crore, which includes ₹23.4 crore from the pellet plant.
DEE Development Engineers Power Division Tariff Issue
PSERC revised the tariff to ₹5.877 per unit vide order dated 20 August 2025. The Company filed an appeal before the Punjab & Haryana High Court, which granted a stay on the PSERC order on 23 October 2025.
As a result:
- The Company continues supplying electricity to PSPCL at the prevailing tariff of ₹7.47 per unit
- Any recovery claimed by PSPCL for tariff differential remains withheld until final disposal by the High Court
Revenue Recognition Note
The total value of orders executed represents aggregate invoices raised, but revenue recognition under Indian GAAP (Ind AS 115) may differ due to:
- Application of various Incoterms
- Performance obligations under respective contracts
- Revenue recognition aligned with transfer of control of goods/services, not merely invoicing milestones
- Revenue recognized during the reporting period may be lower than total invoiced value
Exchange Rate Policy
Exchange rates for existing export orders of DEE Thailand are considered at 1 THB = 2.87705 INR.
Additional Information
The information is available on the company website www.deepiping.com.