Rs 1,394 Crore Order Book: Piping Solutions Company Bags Multi-Million Dollar Order from One Largest International Company in Oil & Gas
The stock’s 52-week high is Rs 400 while its 52-week low is Rs 166.60.
DEE Development Engineers Limited (DDEL) has secured a significant multi-million dollar per year contract with a leading international oil and gas company, headquartered in the US. While the customer's name remains undisclosed for commercial reasons, this agreement establishes a consistent and recurring pipeline of orders for DDEL's process piping solutions for the customer's global projects. This partnership is expected to enhance DDEL's visibility and brand recognition in the international oil and gas infrastructure market, solidifying its position as a preferred vendor for globally renowned energy companies. It also underscores the customer's confidence in DDEL's technical expertise, execution capabilities, and commitment to quality.
This strategic international collaboration perfectly aligns with DDEL's overarching vision of delivering world-class engineering solutions to prominent global clients. Furthermore, it allows DDEL to contribute meaningfully to large-scale, energy-intensive infrastructure projects worldwide. The agreement focuses on the supply of process piping solutions for the customer's upcoming and ongoing projects across various international locations, adding significant momentum to DDEL's growth trajectory.
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Dee Development Engineers Limited (DDEL) is a global leader in specialised process piping solutions, catering to sectors like oil and gas, power (including nuclear), chemicals, and other process industries. Offering a comprehensive service from design to manufacturing, DDEL produces a wide range of piping products including high-pressure systems and custom components. As India's largest player in this domain by installed capacity, the company has a strong international footprint, generating over half its revenue from markets like Canada, Thailand, and the USA. With expanding manufacturing facilities in India and Thailand, DDEL is also venturing into power generation through biomass plants and wind turbine tower production, positioning itself for sustained growth and innovation across multiple sectors.
According to Quarterly Results, the total income increased by 13 per cent to Rs 210 crore and net profit increased by 125 per cent to Rs 22.26 crore in Q2FY25 compared to Q2FY24. In its half-yearly results, the total income increased by 15 per cent to Rs 345.62 crore and net profit increased by 379 per cent to Rs 25.45 crore in H1FY25 compared to H1FY24. The order book as of December 31, 2024 stood at Rs 1,394 crore.
On Friday, shares of DDEL gained 1.47 per cent to Rs 239.95 per share from its previous closing of Rs 235.15 per share. The stock’s 52-week high is Rs 400 while its 52-week low is Rs 166.60.
Disclaimer: The article is for informational purposes only and not investment advice.