Dee Development surges after bagging order over $40 mln from US-based OEM

Dee Development Engineers rallied 7.25% to Rs 224 after the company received Letter of Intent for supply of heat recovery steam generator (HRSG) pipes from one of the largest international OEM based in US.

Under the agreement, the company will supply 16 HRSG Pipes to one largest international OEM conglomerate in power sector, headquarters in the US. However, due to commercial confidentiality, the name of customer has not been disclosed.

The aggregate value of the order will be more than $40 million and the LoI will remain valid till 18 February 2027.

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.

The company reported consolidated net profit of Rs 18.28 crore in Q3 FY26 compared with net loss of Rs 13.33 crore in Q3 FY25. Net sales increased 77% YoY to Rs 298.67 crore in Q3 FY26.

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