DEE Development Engineers Limited has reported a strong financial and operational performance for the financial year ended March 31, 2026, driven by healthy execution momentum across its core piping business and sustained demand from the oil & gas and power sectors. The company recorded FY26 revenue of ₹1,142 crore, marking a year-on-year growth of 38 percent. Operating EBITDA surged 54 percent to ₹191 crore, while profit after tax rose 77 percent to ₹77 crore. DEE Development Engineers attributed the performance to higher project execution, improved operational efficiencies, and stronger contributions from strategic business segments.
The company’s order book stood at ₹1,940 crore as of March 31, 2026, compared to ₹1,228 crore in the previous year, reflecting growth of nearly 58 percent. In addition, projects under L1 status were valued at ₹211 crore, providing strong visibility for future revenues and continued execution momentum.
A major highlight during the year was the commissioning of the company’s seamless pipe plant, which is expected to strengthen manufacturing capabilities and support long-term growth in high-demand sectors. DEE Development Engineers stated that the ramp-up of the 7,000 MTPA seamless pipe facility and the 30,000 MTPA Anjar pipe fabrication unit is expected to improve operating leverage and drive efficiencies across the business.
The company also announced the signing of a reservation agreement with an international EPC company for HRSG pipe spool fabrication. Under the agreement, 60 percent of DEE’s total fabrication capacity will be reserved for projects carrying a minimum annual job value of US$15.27 million. The agreement will remain effective from June 1, 2027 through December 31, 2029, strengthening the company’s international project pipeline.
DEE Development Engineers also highlighted developments in its non-core power generation business. During the fourth quarter of FY26, Malwa Power received a tariff revision from ₹3.50 per kWh to ₹5.224 per kWh, translating into a nearly 49 percent increase along with retrospective recovery of approximately ₹5.8 crore.
The company’s biomass pellet facility also became operational during the year and is expected to offset current cash burn, stabilize segment profitability, and support margin expansion in the coming quarters. Management indicated that the combined power and biomass pellet businesses are expected to generate nearly ₹80 crore in FY27 revenue.
Commenting on the performance, Chairman and Managing Director Krishan Lalit Bansal said the company remains optimistic about India’s expanding capital expenditure cycle and the rising demand for engineering, infrastructure, and industrial project execution. He added that DEE Development Engineers continues to leverage its technical expertise and diversified manufacturing capabilities to support sustainable growth and long-term stakeholder value creation.
DEE Development Engineers provides specialized process piping solutions for industries including oil & gas, power, chemicals, and infrastructure. The company manufactures a wide range of engineered products such as piping spools, pressure vessels, industrial fittings, modular skids, induction bends, and customized fabricated components across multiple grades of specialized metals.
