Dee Development Engineers zooms 15% on securing ₹173-crore orders

The buying on the counter came after Dee Development Engineers secured contracts aggregating about ₹173 crore

Dee Development Engineers shares zoomed 14.9 per cent on BSE, logging an intra-day high at ₹266 per share. At 10:22 AM, Dee Development Engineers’ share price was trading 13.78 per cent higher at ₹263.4 per share. In comparison, the BSE Sensex was up 0.62 per cent at 83,330.58. In a month, Dee Development shares have gained around 21 per cent as compared to Sensex’s rise of 1.5 per cent. 

The buying on the counter came after the company secured contracts aggregating about ₹173 crore. 

In an exchange filing, the company said it has been awarded job work contracts worth ₹88 crore, including a ₹26-crore letter of intent (LoI) from Bharat Heavy Electricals Ltd (BHEL) for manufacturing critical piping components (headers and vessels). Another LoI for critical piping solutions worth over ₹42 crore was received from a customer described as a joint venture of an Indian and a foreign power-sector conglomerate; the name was not disclosed for commercial reasons. The domestic job work orders are to be delivered within one year, the filing said. 

 

Separately, DEE Piping Systems (Thailand) Co., Ltd., a subsidiary, received international orders from a US-based power-sector OEM (name undisclosed). The Thailand unit won $8 million worth of job work contracts for manufacturing and supply of HRSG piping for 11 units, to be executed by December 2028, and $1.5 million for pipe fittings and flanges on a material basis for 7 units, to be delivered by December 2027.  ALSO READ | UPL restructuring: Analysts decode impact on valuations, Advanta IPO 

That apart, on Friday, Dee Development Engineers received a LoI from one of the world’s largest international original equipment manufacturers in the power sector, headquartered in the United States (US), according to the exchange filing. Due to commercial considerations, the company has not disclosed the name of the customer. 

Under the agreement, Dee Development Engineers will supply heat recovery steam generator (HRSG) piping for 16 units. The contract involves providing process piping solutions for multiple HRSG projects. The aggregate value of the orders is expected to exceed $40 million, the statement said.  

Dee Development Engineers reported a turnaround in its December 2025 quarter performance. The company posted a net profit of ₹18.28 crore for the quarter ended December 2025, compared with a net loss of ₹13.33 crore in the corresponding quarter last year. Revenue from operations surged 76.96 per cent to ₹286.67 crore, as against ₹162.00 crore in the year-ago period.