Dee Development drops after Q2 PAT falls 20% YoY; revenue jumps 39%

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Dee Development Engineers declined 3.36% to Rs 249.90 after the company reported a 20.1% year-on-year drop in consolidated net profit to Rs 17.80 crore, despite a 39.1% rise in revenue from operations to Rs 270 crore in Q2 FY26 over Q2 FY25.

Profit before tax (PBT) zoomed 85.4% YoY to Rs 22.34 crore in Q2 FY26 from Rs 12.13 crore in Q2 FY25.

Total expenses rose 40.6% YoY to Rs 258.23 crore in Q2 FY26 compared with Rs 183.86 crore in Q2 FY25. The cost of material consumed stood at Rs 127.04 crore (up 101.1% YoY), employee benefit expenses were Rs 45.16 crore (up 16.1% YoY), and finance cost came in at Rs 13.73 crore (up 92.7% YoY) during the period under review.

Krishan Lalit Bansal, chairman of DEE Development Engineers, said, We are pleased to announce a strong performance for Q2 and H1 FY26, driven by robust revenue growth and solid execution. Operating income for Q2 stood at Rs 270 crore, up 39.2% YoY, with EBITDA rising 47.9% to Rs 44.06 crore and margins expanding to 16.3%. PAT stood at Rs 17.86 crore, impacted by last years exceptional other income; adjusted PBT grew 69% YoY.

For H1 FY26, revenue grew 30.3% to Rs 493.76 crore, EBITDA rose 46.4% to Rs 79.93 crore, and PAT increased 22.1% to Rs 31.06 crore. The company received Rs 170 crore in new power sector orders and holds an order book of Rs 1,308 crore. It commissioned 30,000 MT capacity at Anjar and expects its 7,000 MT seamless pipe plant to start by January 2026.

DEE Development Engineers (DDEL) is an engineering company providing specialized process piping solutions for industries such as oil and gas, power (including nuclear), process industries, and chemicals through engineering, procurement, and manufacturing services.

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