DEE Development Q1 PAT at ₹16.08 Cr, Multiple Approvals

Piping Division Revenue: ₹22,777.45 lakhs; Segment Result: ₹3,118.25 lakhs
Power Division Revenue: ₹1,072.01 lakhs; Segment Result: (₹68.87) lakhs loss

Piping Division Revenue: ₹26,225.94 lakhs; Segment Result: ₹3,695.37 lakhs
Power Division Revenue: ₹1,836.76 lakhs; Segment Result: (₹120.86) lakhs loss
Heavy Fabrication Revenue: ₹1,534.93 lakhs; Segment Result: ₹367.66 lakhs

Board approved unaudited standalone and consolidated financial results for quarter ended 30 June 2026.
Results reviewed by Audit Committee and Statutory Auditors (S.R. Batliboi & Co. LLP).

Approved reclassification of existing authorized share capital: From 787,50,000 Equity Shares + 62,50,000 Preference Shares (both ₹10 each) to 8,50,00,000 Equity Shares of ₹10 each.
Approved increase in authorized share capital from ₹85,00,00,000 to ₹95,00,00,000 divided into 9,50,00,000 equity shares of ₹10 each.
Reason: To meet future fund-raising requirements/growth plans.
Requires members' approval for alteration of Clause V of Memorandum of Association.

Approved Ms. Shikha Bansal (WTD) taking office premises at SCO 222 & SCO 223, Omaxe World Street on rent.
Premises to be rented to Atul Krishan Bansal Foundation at combined rent not exceeding ₹70,000 per month.
Tenure: 11 months
Transaction considered ordinary course of business and arm's length basis.
Subject to completion of ownership transfer and execution of rent agreement.

Appointed Ms. Ashvika Bansal (relative of director) as CSR Head effective 04 August 2026.
Remuneration: ₹2,40,000 per month
Does not require members' approval as within limits prescribed under Companies Act, 2013.

Company has availed loan facility of ₹2,000 crores from Bank of India (Lead Bank) and Consortium of Lenders.
Lenders have option to convert outstanding loan into equity shares in event of default.
Board approved issuance and allotment of equity shares pursuant to Section 62(3) of Companies Act, 2013.
Conversion price not lower than formula under SEBI ICDR Regulations.
Requires members' approval by special resolution.

Approved continuation of Mr. Bhisham Kumar Gupta (DIN: 09493608) as Independent Director beyond age of 75 years.
Continuation period: From 05 June 2027 to 11 July 2028 (end of current term).
Subject to members' approval by special resolution under SEBI LODR Reg 17(1A).

Re-appointed Ms. Shikha Bansal (DIN: 02712175) as Whole-time Director liable to retire by rotation.
Current term: 01 November 2025 to 31 October 2030
Re-appointed Mrs. Shruti Aggarwal (DIN: 08598962) as Whole-time Director liable to retire by rotation.
Current term: 14 April 2025 to 13 April 2030
Both re-appointments subject to approval at ensuing AGM.

Authorized Mr. Krishan Lalit Bansal (CMD) and Mr. Ranjan Kumar Sarangi (Company Secretary) to convene 37th Annual General Meeting.
AGM to be held through Video Conferencing/Other Audio Visual Means.
Authorization includes fixing date, time, venue, approving notice, annual report, and fixing book closure dates.

Re-constituted Stakeholders Relationship Committee with immediate effect:
Chairperson: Mr. Krishan Lalit Bansal
Members: Mrs. Shruti Aggarwal, Mrs. Shilpi Barar, Mr. Ashwani Kumar Prabhakar, Mr. Bhisham Kumar Gupta
Re-constituted Corporate Social Responsibility Committee with immediate effect:
Chairperson: Mrs. Shilpi Barar
Members: Mr. Krishan Lalit Bansal, Mrs. Shruti Aggarwal, Mr. Ashwani Kumar Prabhakar, Mr. Bhisham Kumar Gupta

Company has 30-year PPA with Punjab State Power Corporation Limited for 8 MW biomass plant at Abohar, Punjab.
PSERC reduced tariff from ₹7.48 to ₹5.26 per unit retrospectively from 01 January 2024.
Company filed review petition; PSERC revised tariff to ₹5.88 per unit on 20 August 2025.
Payable amount reduced from ₹1,682.87 lakhs to ₹1,384.96 lakhs for period 01 January 2024 to 30 April 2025.
PSPCL challenged PSERC order before APTEL; matter under review.
Company filed writ petition before Punjab & Haryana High Court challenging tariff methodology.
High Court interim order dated 23 September 2025 stayed all PSERC orders.
Management believes strong likelihood of success; no adjustments made in financial results.

Subsidiary Malwa Power Private Limited operates 6 MW biomass plant with expired PPA (27 April 2025).
PSERC determined extended tariff at ₹5.224 per kWh with 5% annual escalation.
Matter pending before APTEL; interim tariff of ₹3.50 per kWh continues.
Assets of ₹5,082.67 lakhs relating to MPPL included in consolidated financial results.
Management unable to assess impact on carrying value due to ongoing proceedings.

Board meeting duration: 09:00 AM to 10:52 AM on 04 August 2026.
All documents available on company website: www.deepiping.com.
Limited review reports issued by S.R. Batliboi & Co. LLP for both standalone and consolidated results.
CEO and CFO certificate placed before Board as per SEBI LODR requirements.