DEE Development Engineers Q1 FY27 Share Price & Earnings Call Analysis
- Market cap
- ₹3,815 Cr
- P/E
- 46.52
- ROE
- 9.31%
- PEG
- 0.53
- Price to sales
- 3.15
- Debt to equity
- 0.87
- 52W high / low
- ₹739 / ₹185
- Sales growth (5Y)
- 18.19%
- EBITDA margin
- 16.91%
- Net profit margin
- 6.89%
- Promoter holding
- 65.13%
- Sales (last year)
- ₹1,213 Cr
DEE Development Engineers Ltd is a design -led engineering and manufacturing company supplying specialised high-pressure process piping systems, pipe spools, fittings and bends, modular skids, pressure vessels and heavy-fabrication products. It serves power -including nuclear - oil & gas, refining, petrochemical, chemical and fertiliser industries, with manufacturing operations in India and Thailand.[1] [2]
Guidance scorecard · Q1 FY27 call
What DEE Development Engineers Ltd's management guided
and where it ranks in Industrial Manufacturing
Industrial Manufacturing
RevenueQ1 FY27 call
20–40%- The company targets around Rs. 1,500 crores revenue from the Anjar facility by FY 2028-29.
- For FY27, total revenue guidance is at least Rs. 1,500 crores, with Rs. 1,150-1,250 crores expected from the piping segment.
- Order inflow guidance for the current financial year is Rs. 2,000+ crores, with potential to exceed this based on project executions.
- The Anjar facility utilization is planned to increase to 60-65% this year and aim for near 100% utilization by the end of next year.
- The Thailand facility aims to maintain Rs. 170-200 crores revenue without expansion.
2 more points from DEE Development Engineers Ltd's call on revenue
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MarginsQ1 FY27 call
FlatSee what DEE Development Engineers Ltd said on margins — free account, 30 seconds.
CapexQ1 FY27 call
None planned- No planned expansion in the Thailand facility; it is maintained as a showcase unit.
- All future expansion or new capacity plans are focused exclusively in India.
- Preferential issue of Rs. 300 crores completed; Rs. 225 crores earmarked for debt repayment and balance for general corporate purposes.
- The capital raise will materially reduce debt and financial costs, strengthening the balance sheet and leverage capacity.
- The company is moving fast to establish a facility catering to the nuclear sector within the next two years.
2 more points from DEE Development Engineers Ltd's call on capex
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FundraisingQ1 FY27 call
PlannedSee what DEE Development Engineers Ltd said on fundraising — free account, 30 seconds.
Order bookQ1 FY27 call
Rising- As of June 30, 2026, the order book stands at Rs. 2,428 crores with strong revenue visibility.
- The outstanding order book includes Rs. 399 crores for the power segment (as of Sept 2025).
- The HRSG business order book is around Rs. 400 crores in India and Rs. 200 crores in Thailand.
- The company expects fresh order inflows of Rs. 1,800 to 2,000 crores in the remaining part of FY27.
- The company is confident of achieving at least Rs. 1,500 crores revenue in FY27, with possibilities to exceed this.
- The Thailand facility is 100% booked for the coming three years.
2 more points from DEE Development Engineers Ltd's call on the order book
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Ranges are what management guided for revenue growth and margins on the latest earnings call. Not investment advice, and not a forecast of returns.
Potential multibaggers · Q2 FY27
Potential multibaggers in Industrial Manufacturing
on management's own guidance
- Strong growth2
- Strong growth1
- Strong growth3
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Ranks describe management commentary on revenue and margin from the latest earnings call. Not investment advice.
Peers
Industrial Manufacturing companies ranked on guidance
| # | Company | Revenue guided | Margin guided | Market cap | P/E |
|---|---|---|---|---|---|
| 1 | 40%+ | Up 0–2% | ₹1,207 Cr | 111.0 | |
| 2 | 40%+ | Up 0–2% | ₹549 Cr | 33.8 | |
| 3 | 40%+ | Flat | ₹8,076 Cr | 94.4 | |
| 4 | 40%+ | Flat | ₹3,732 Cr | 81.2 | |
| 5 | 40%+ | Flat | ₹2,580 Cr | 61.2 | |
| 6 | 40%+ | Flat | ₹743 Cr | 43.6 |
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Pro shows every company guiding 40%+ revenue growth →Full Industrial Manufacturing rankingDEE Development Engineers Ltd announcements
All announcements →- Board / shareholder meeting outcomeNotableDEE Development Engineers Ltd announces 37th AGM resolutions on Sept 23, 2026
- Board / shareholder meeting outcomeNotableDEE Development Engineers Limited announces 37th AGM voting results held on Sept 23, 2026
Financials of DEE Development Engineers Ltd
Quarterly Results, Profit & Loss, Balance Sheet, Cash Flows, and Ratios are shown below as separate sections.
Financials of DEE Development Engineers Ltd
Quarterly Results
Quarter-by-quarter operating performance
| Mar 2023 | Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales + | 165 | 157 | 179 | 210 | 243 | 185 | 194 | 162 | 286 | 224 | 270 | 287 | 362 |
| Expenses + | 142 | 143 | 155 | 180 | 209 | 160 | 164 | 156 | 223 | 188 | 226 | 239 | 298 |
| Operating Profit | 23 | 14 | 24 | 30 | 35 | 25 | 30 | 6 | 64 | 36 | 44 | 48 | 64 |
| OPM % | 14% | 9% | 13% | 14% | 14% | 13% | 15% | 3% | 22% | 16% | 16% | 17% | 18% |
| Other Income + | 10 | 2 | 8 | 3 | 6 | 3 | 16 | -1 | 3 | 4 | 5 | 1 | 4 |
| Interest | 9 | 8 | 10 | 10 | 12 | 11 | 7 | 10 | 12 | 11 | 14 | 15 | 16 |
| Depreciation | 9 | 11 | 11 | 12 | 12 | 13 | 13 | 12 | 12 | 13 | 13 | 14 | 14 |
| Profit before tax | 15 | -3 | 11 | 11 | 16 | 4 | 26 | -17 | 42 | 16 | 22 | 20 | 38 |
| Tax % | 20% | 78% | 9% | 16% | 28% | 28% | 15% | -24% | 26% | 17% | 20% | 8% | 27% |
| Net Profit + | 12 | -5 | 10 | 9 | 12 | 3 | 22 | -13 | 32 | 13 | 18 | 19 | 28 |
| EPS in Rs | 11.36 | -4.32 | 1.86 | 1.70 | 2.24 | 0.46 | 3.22 | -1.93 | 4.56 | 1.91 | 2.58 | 2.64 | 4.04 |
Financials of DEE Development Engineers Ltd
Profit & Loss
Annual income statement trend
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|
| Sales + | 723 | 495 | 461 | 596 | 789 | 827 | 1,142 |
| Expenses + | 635 | 439 | 393 | 522 | 679 | 698 | 951 |
| Operating Profit | 87 | 57 | 68 | 74 | 109 | 129 | 191 |
| OPM % | 12% | 11% | 15% | 12% | 14% | 16% | 17% |
| Other Income + | 16 | 18 | 10 | 19 | 18 | 21 | 15 |
| Interest | 43 | 30 | 28 | 34 | 47 | 45 | 56 |
| Depreciation | 33 | 36 | 36 | 38 | 45 | 49 | 53 |
| Profit before tax | 27 | 9 | 13 | 20 | 36 | 55 | 96 |
| Tax % | 54% | -60% | 38% | 36% | 26% | 21% | 20% |
| Net Profit + | 13 | 14 | 8 | 13 | 26 | 44 | 77 |
| EPS in Rs | 8.52 | 9.06 | 7.73 | 12.23 | 4.94 | 6.32 | 11.17 |
| Dividend Payout % | 6% | 0% | 0% | 0% | 0% | 0% | 0% |
Financials of DEE Development Engineers Ltd
Balance Sheet
Capital structure and asset base
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|
| Equity Capital | 16 | 16 | 11 | 11 | 53 | 69 | 69 |
| Reserves | 422 | 439 | 401 | 413 | 398 | 732 | 821 |
| Borrowings + | 313 | 257 | 290 | 364 | 460 | 431 | 705 |
| Other Liabilities + | 162 | 122 | 141 | 176 | 296 | 362 | 328 |
| Total Liabilities | 913 | 834 | 843 | 963 | 1,208 | 1,594 | 1,924 |
| Fixed Assets + | 388 | 365 | 354 | 381 | 414 | 422 | 658 |
| CWIP | 2 | 2 | 4 | 3 | 66 | 148 | 80 |
| Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Assets + | 523 | 467 | 484 | 579 | 727 | 1,024 | 1,186 |
| Total Assets | 913 | 834 | 843 | 963 | 1,208 | 1,594 | 1,924 |
Financials of DEE Development Engineers Ltd
Cash Flows
Operating, investing and financing cash movement
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|
| Cash from Operating Activity + | 71 | 96 | 67 | 14 | 103 | -60 | 20 |
| Cash from Investing Activity + | -19 | -7 | -22 | -52 | -145 | -164 | -187 |
| Cash from Financing Activity + | -65 | -88 | -50 | 40 | 43 | 227 | 201 |
| Net Cash Flow | -13 | 1 | -5 | 1 | 1 | 3 | 33 |
| Free Cash Flow | 35 | 80 | 43 | -42 | -31 | -224 | -165 |
| CFO/OP | 101% | 181% | 109% | 27% | 103% | -39% | 20% |
Financials of DEE Development Engineers Ltd
Ratios
Working capital efficiency and return ratios
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|
| Debtor Days | 99 | 146 | 122 | 106 | 90 | 109 | 123 |
| Inventory Days | 226 | 284 | 514 | 555 | 533 | 738 | 439 |
| Days Payable | 65 | 120 | 220 | 253 | 300 | 313 | 125 |
| Cash Conversion Cycle | 259 | 311 | 416 | 407 | 323 | 534 | 436 |
| Working Capital Days | 73 | 108 | 66 | 49 | 18 | 106 | 66 |
| ROCE % | 5% | 6% | 7% | 10% | 9% | 11% |
Guidance history
How DEE Development Engineers Ltd's guidance has moved, call by call
| Call | Revenue | Margins | Capex | Fundraising | Order book |
|---|---|---|---|---|---|
| Q1 FY27 call → | 20–40% | Flat | None planned | Planned | Rising |
| Q3 FY26 call → | 40%+ | Flat | Planned | None planned | Rising |
| Q2 FY26 call → | 40%+ | Flat | Planned | None planned | Rising |
What management guided on each call, newest first. Not investment advice, and not a forecast of returns.
Momentum score · price trend
35 out of 100 — Cooling
Over the past year its share price has done worse than most of the stocks we track.
| Period | Share price change | Better than … of 1,910 stocks |
|---|---|---|
| Last 12 months | +97.6% | 93% |
| Last 6 months | +21.7% | 77% |
| Last 3 months | −25.2% | 11% |
The price is 31.3% below its all-time high of ₹738.75 (17 Jun 2026). Stocks more than 20% below their peak have their score halved, so 70 became 35.
How we calculate it
“Better than 30%” means that over that period the share price did better than 30 out of every 100 stocks we track (1,910 Indian companies worth ₹500 Cr or more, with at least a year of prices).
The score weighs the longer periods more: 40% × 12-month + 40% × 6-month + 20% × 3-month. For DEE Development Engineers Ltd: 0.4 × 93 + 0.4 × 77 + 0.2 × 11 = 70, halved to 35 because the price is more than 20% below its all-time high.
Strengthening is 70 and above, Steady 40 to 70, Cooling below 40. Scores are recalculated every night after the market closes.
Full methodology →This describes only how the share price has moved up to 30 Oct 2026, compared with other stocks. It says nothing about the business, and it is not a prediction, a price target or a recommendation to buy or sell.
Continue your research
What DEE Development Engineers Ltd's management said in earlier quarters
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