Dee Development Engineers gains on bagging Rs 58-cr order for seamless pipes

Dee Development Engineers rose 1.07% to Rs 306.25 after it has secured a letter of intent (LoI) for manufacturing alloy steel seamless pipes at its new forged seamless pipe plant in Anjar, Gujarat.

The order has been awarded by a domestic entity, a joint venture between an Indian conglomerate and a foreign power sector major. The name of the customer has not been disclosed due to commercial considerations.

The contract, valued at Rs 58 crore, is scheduled to be executed by December 2026, the company said in a regulatory filing.

This is the maiden order for seamless pipes to be manufactured at the companys new facility in Anjar, Gujarat, signalling the commencement of commercial operations at the plant.

 

The company clarified that neither the promoter nor the promoter group has any interest in the entity awarding the contract. It also stated that the order does not fall under related party transactions.

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 a consolidated net profit of Rs 18.28 crore in Q3 FY26 compared with a 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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