Financial Performance Summary

| Metric | Q1 FY27 | Q1 FY26 | Growth |

| Revenue from Operations (₹ Cr) | 294.5 | 223.8 | 31.6% |

| Operating EBITDA (₹ Cr) | 49.7 | 35.9 | 38.7% |

| Operating EBITDA Margin | 16.9% | 16.0% | 86 bps |

| PAT (₹ Cr) | 16.1 | 13.1 | 22.4% |

| PAT Margin | 5.5% | 5.8% | (41) bps |

| Diluted EPS (₹) | 2.32 | 1.90 | 22.1% |

Operational Highlights

  • Revenue growth of 31.6% YoY driven by healthy execution momentum in Piping & Fittings segment, supported by strong supplies to Power sector
  • Record Operating EBITDA of ₹50 Cr supported by higher execution levels in Power sector in core business while improved tariffs and biomass pellet operations aided non-core business
  • Closing Order Book stood at ₹2,428 Cr as on June 30, 2026, registering 92.5% YoY growth
  • L1 position stood at ₹12 Cr
  • Biomass pellet facility became operational midway through Q1 FY27, partially offsetting non-core business losses, with full benefit expected from Q2 FY27
  • Revenue recognition of approximately ₹25 crore from certain orders was deferred due to temporary geopolitical disruptions in Middle East and customer-related issues
  • Dispatches have normalized and deferred revenue expected to be recognized in coming quarter

Strategic Developments

  • Seamless pipe manufacturing facility commissioned in March 2026 as part of backward integration strategy is progressing through ramp-up phase
  • Anjar pipe fabrication facility added 30,000 MT of fabrication capacity during FY26, continues to scale up steadily
  • Successful completion of ₹300 crore preferential issue during the quarter strengthened balance sheet
  • ~₹225 crore debt reduction via preferential issue proceeds expected to substantially lower finance costs
  • Tariff revision for 6 MW Muktsar biomass power plant increased from ₹3.50 per kWh to ₹5.224 per kWh in FY26, with annual 5% escalation on variable component
  • 72,000 MTPA biomass pellet facility with estimated revenue generation of ₹80 crore in FY27 commenced commercial operations

Management Commentary

Mr. Krishan Lalit Bansal, Chairman & Managing Director, stated:

  • Performance reflects resilience of diversified business model, disciplined project execution, and focus on operational efficiency
  • Long-term outlook remains encouraging supported by sustained investments across power, oil & gas, chemical, and process industries
  • India's ongoing capital expenditure cycle creates significant opportunities for specialized engineering and piping solutions
  • Focus shifted towards improving capacity utilization, driving higher asset turns, expanding margins, and generating stronger operating cash flows
  • Preferential issue proceeds expected to materially reduce leverage and finance costs, improve return ratios
  • Robust order book of ₹2,428 crore provides strong revenue visibility across key end markets

Corporate Action

  • Board approved seeking shareholders' approval under Section 62(3) of Companies Act, 2013 as enabling provision in line with terms of sanction letters governing existing working capital facilities approved in May 2025
  • Proposal does not relate to any new borrowing or additional credit facility, intended solely to comply with lenders' standard financing requirements
  • Conversion right may be exercised by lenders only upon occurrence of event of default

Business Overview

DEE Development Engineers Limited is a leading engineering company providing customized process piping solutions with strategically located state-of-the-art manufacturing facilities. The company serves industries including oil and gas, power (including nuclear), process industries and chemicals through engineering, procurement and manufacturing services. Products include high-pressure piping systems, piping spools, high frequency induction pipe bends, LSAW pipes, industrial pipe fittings, pressure vessels, industrial stacks, modular skids and accessories including boiler superheater coils, de-super heaters and other customized components.