DEE Development Engineers Ltd

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DEE Development Engineers Ltd

₹ 647 -1.12%
11 Sep 1:41 p.m.
deepiping.com BSE: 544198 NSE: DEEDEV
About

DEE Development Engineers Ltd is a design
-led engineering and manufacturing company supplying specialised high-pressure process piping systems, pipe spools, fittings and bends, modular skids, pressure vessels and heavy-fabrication products. It serves power -including nuclear - oil & gas, refining, petrochemical, chemical and fertiliser industries, with manufacturing operations in India and
Thailand.[1] [2]

Key Points

Business Overview:[1]
DEE is a leading engineering company specializing in process piping solutions.
It is India’s largest player in this segment
by installed capacity and among the global leaders in technical capability. The company offers comprehensive design-led manufacturing services for complex industrial piping requirements across the power, oil & gas, petrochemicals, chemicals, and nuclear sectors.

Website BSE NSE
  • Market Cap ₹ 4,868 Cr.
  • Current Price ₹ 647
  • High / Low ₹ 760 / 183
  • Stock P/E 59.4
  • Book Value ₹ 129
  • Dividend Yield 0.15 %
  • ROCE 10.7 %
  • ROE 9.31 %
  • Face Value ₹ 10.0
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Pros

  • Company is expected to give good quarter
  • Company has delivered good profit growth of 40.8% CAGR over last 5 years

Cons

  • Stock is trading at 5.01 times its book value
  • Promoter holding has decreased over last quarter: -5.05%
  • Company has a low return on equity of 7.80% over last 3 years.

* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.

Peer comparison

Industrials Capital Goods Industrial Manufacturing Industrial Products

Part of BSE Industrials

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Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

Jun 2023 Sep 2023 Dec 2023 Mar 2024 Jun 2024 Sep 2024 Dec 2024 Mar 2025 Jun 2025 Sep 2025 Dec 2025 Mar 2026 Jun 2026
157 179 210 243 185 194 162 286 224 270 287 362 294
143 155 180 209 160 164 156 223 188 226 239 298 245
Operating Profit 14 24 30 35 25 30 6 64 36 44 48 64 50
OPM % 9% 13% 14% 14% 13% 15% 3.5% 22% 16% 16% 17% 18% 17%
2 8 3 6 3 16 -1 3 4 5 1 4 2
Interest 8 10 10 12 11 7 10 12 11 14 15 16 17
Depreciation 11 11 12 12 13 13 12 12 13 13 14 14 15
Profit before tax -3 11 11 16 4 26 -17 42 16 22 20 38 20
Tax % 78% 9% 16% 28% 28% 15% -24% 26% 17% 20% 8% 27% 20%
-5 10 9 12 3 22 -13 32 13 18 19 28 16
EPS in Rs -4.32 1.86 1.70 2.24 0.46 3.22 -1.93 4.56 1.91 2.58 2.64 4.04 2.33
Raw PDF

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026 TTM
723 495 461 596 789 827 1,142 1,213
635 439 393 522 679 698 946 1,008
Operating Profit 87 57 68 74 109 129 196 205
OPM % 12% 11% 15% 12% 14% 16% 17% 17%
16 18 10 19 18 21 15 13
Interest 43 30 28 34 47 45 61 62
Depreciation 33 36 36 38 45 49 53 56
Profit before tax 27 9 13 20 36 55 96 101
Tax % 54% -60% 38% 36% 26% 21% 20%
13 14 8 13 26 44 77 80
EPS in Rs 8.52 9.06 7.73 12.23 4.94 6.32 11.14 11.59
Dividend Payout % 6% 0% 0% 0% 0% 0% 9%
Compounded Sales Growth
10 Years: %
5 Years: 18%
3 Years: 24%
TTM: 40%
Compounded Profit Growth
10 Years: %
5 Years: 41%
3 Years: 88%
TTM: 53%
Stock Price CAGR
10 Years: %
5 Years: %
3 Years: %
1 Year: 128%
Return on Equity
10 Years: %
5 Years: 6%
3 Years: 8%
Last Year: 9%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
Equity Capital 16 16 11 11 53 69 69
Reserves 422 439 401 413 398 732 821
313 257 290 364 460 512 771
162 122 141 176 296 281 262
Total Liabilities 913 834 843 963 1,208 1,594 1,924
388 365 354 381 414 422 654
CWIP 2 2 4 3 66 148 84
Investments 0 0 0 0 0 0 0
523 467 484 579 727 1,024 1,185
Total Assets 913 834 843 963 1,208 1,594 1,924

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
71 96 67 14 103 -118 20
-19 -7 -22 -52 -145 -164 -187
-65 -88 -50 40 43 285 201
Net Cash Flow -13 1 -5 1 1 3 33
Free Cash Flow 35 80 43 -42 -31 -282 -165
CFO/OP 101% 181% 109% 27% 103% -84% 19%

Ratios

Consolidated Figures in Rs. Crores / View Standalone

Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
Debtor Days 99 146 122 106 90 109 123
Inventory Days 226 284 514 555 533 738 439
Days Payable 65 120 220 253 300 210 75
Cash Conversion Cycle 259 311 416 407 323 637 486
Working Capital Days 73 108 66 49 18 106 66
ROCE % 5% 6% 7% 10% 9% 11%

Insights

In beta
Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
Capacity Utilization
%

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Core Business Revenue (Piping + Heavy Fabrication)
% of Total Revenue
Domestic Revenue Share
% of Total Revenue
Installed Capacity (Process Piping + Heavy Fabrication)
MTPA
Order Book (Closing)
INR Crore
Top 10 Customer Concentration
% of Revenue
Power Sector Share of Order Book
% of Order Book
Order Inflow
INR Crore

Extracted by Screener AI

Shareholding Pattern

Numbers in percentages

1 Recently
Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026Jul 2026
70.18% 70.17% 70.17% 70.29% 70.22% 70.22% 70.18% 70.18% 70.18% 65.13%
5.85% 2.23% 0.83% 0.65% 0.81% 0.79% 0.78% 0.99% 2.17% 4.67%
12.11% 16.16% 16.53% 17.43% 17.33% 16.60% 14.87% 13.91% 10.79% 14.16%
11.86% 11.43% 12.46% 11.63% 11.65% 12.39% 14.17% 14.93% 16.87% 16.04%
No. of Shareholders 67,13655,24654,60951,11650,03949,09848,03450,14344,16544,179

* The classifications might have changed from Sep'2022 onwards. The new XBRL format added more details from Sep'22 onwards.

Classifications such as banks and foreign portfolio investors were not available earlier. The sudden changes in FII or DII can be because of these changes.

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Documents

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