DEE Development Engineers share price jumped 7.20 per cent at Rs 322 a piece on the BSE in Tuesday’s intraday trade. This came after the company announced the commission of the 2nd phase of its manufacturing plant in Anjar, Gujarat.
The plant’s capacity has increased by 9,000 MT per annum and making the operational capacity to 12,000 MT per annum. The facility will primarily cater to the jobs of oil and gas piping sector, the company said in a statement.
“The total investment in this state-of-the-art facility amounts to Rs 250 crores. Of this, Rs 160 crores will be allocated to the process piping solutions plant, which has an annual capacity of 27,000 metric tons. Till now the capacity of 12,000 MT has been commissioned and the company is contemplating to enhance the balance capacity of 15,000 MT shall be commissioned by October 2025,” said Krishan Lalit Bansal, Chairman, DEE Development Engineers.
Bansal informed that additionally, Rs 90 crores will be invested in pipe manufacturing facility specialising in high wall thickness pipes, with a planned annual production capacity of 7,000 metric tons. The pipe facility is expected to be commissioned by January 2026.
Bansal said that over the next three to five years, the company is targeting a three-fold increase in revenue. The facility will drive operational efficiency and enhance the Ebitda margin.
On the equities front, DEE Development Engineers share price has underperformed the market, falling 10 per cent in the last six months. In comparison, the BSE Sensex has slipped 5.2 per cent in the last six months.
DEE Development Engineers has a total market capitalisation of Rs 2,185.56 crore. At 1:11 PM, the stock price of the company was up 5.16 per cent at Rs 315.85 a piece on the BSE. By comparison, the BSE’s Sensex was down 0.50 per cent to 76,685.08 level.