SYNOPSIS: One of India’s largest players in process piping solutions secured a $40 million LoI from a leading US-based power sector OEM for supplying HRSG piping across 16 units, with the agreement valid until February 2027.
During Friday’s trading session, shares of one of India’s largest integrated process piping solutions providers in terms of installed capacity surged nearly 10 percent on BSE, after securing an order worth more than $40 million (or around Rs. 363 crores) from one of the largest international OEM conglomerates in the Power Sector with headquarters in the US.
With a market cap of Rs. 1,565.7 crores, shares of DEE Development Engineers Limited were trading in the green at Rs. 226.05 on BSE, up by more than 8 percent, compared to its previous closing price of Rs. 208.85. The stock has delivered positive returns of over 22 percent in the last one year, and has gained by around 20 percent in one month.
News
As per the latest disclosures with the stock exchanges, DEE Development Engineers Limited secured a Letter of Intent (LoI) from one of the largest international OEM conglomerates in the Power Sector, headquartered in the United States (US).
The total order value exceeds $40 million (around Rs. 363.84 crore) and involves the supply of HRSG (Heat Recovery Steam Generator) piping for 16 units. The Letter of Intent remains valid until 18th February 2027.
Financials
DEE Development reported an impressive growth in consolidated revenue from operations of more than 77 percent, from Rs. 162 crores in Q3 FY25 to Rs. 287 crores in Q3 FY26. Meanwhile, it reported a significant turnaround to a net profit of Rs. 19 crores from a loss of Rs. 13 crores. As of December 2025, the company has an order book of Rs. 1,303 crores, with a YTD order inflow of Rs. 829 crores.
Under its strategic expansion and integration plans, the company is increasing its total process piping capacity to 30,000 MTPA at the Anjar facility to serve the rising domestic and export demand. As part of its backward integration strategy, it is also establishing a seamless pipe manufacturing plant at Anjar to produce high-wall thickness pipes, a product category that is currently entirely import-dependent in India.
DEE Development Engineers Limited is principally engaged in the business of manufacturing pre-fabricated engineering products, pipe fittings, piping systems and biomass-based power generation. It has a strong exposure to power, oil & gas, petrochemicals, fertilisers, chemicals, and infrastructure, with 7 manufacturing facilities across India and Thailand
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