DEE Development Engineers Ltd

- Currently, the company plans to fulfill working capital needs through borrowings. - Sameer Agarwal mentioned that for now, funding requirements will be met by debt. - Going forward, depending on order inflow and revenue prospects, other funding options may be explored. - Any future fundraising decisions will be discussed in Board meetings with support from consultants. - No explicit plans for equity fundraising were stated at this time. - The company is currently focusing on managing elevated working capital through borrowing rather than immediately seeking equity markets.

- Q1 FY26 Capex: INR 25-30 crores already incurred. - FY26 Planned Capex: Around INR 100 crores aimed to enhance capacities in process piping solutions and high-wall thickness seamless piping. - Hydrogen Business: Planned small-scale in-house hydrogen plant (INR 10-15 crores) to demonstrate ultra-pure hydrogen production; further major capex likely by venture partner in Build-Own-Operate models. - Anjar Facility Expansion: 15,000 MTPA capacity addition commissioning by August 2025, earlier than planned; expected depreciation post full capitalization INR 60-65 crores annually. - High-wall seamless pipe plant commercial production expected starting January 2026, part of backward integration strategy. - Strategic Entry in Green Hydrogen via JV with international clean-tech partner and acquisition of Molsieve Designs enhancing technical capabilities, with no significant additional capex currently foreseen.

- The company anticipates a threefold increase in revenue over the next 3 to 5 years (confirmed by management). - For FY 2026, revenue guidance stands around INR 1,300 crores, with expectations for further phenomenal growth in FY 2027. - Capacity expansions at Anjar and Palwal facilities enable overall revenue potential of INR 2,500 to 3,000 crores at full utilization. - Order pipeline is robust, with expected order inflow of approximately INR 1,200 crores by March 2026. - Strong traction expected in Oil & Gas (around 45% of new orders) and Power sectors. - Strategic entry into green hydrogen sector offers new growth drivers, with business visibility and revenue build-up expected in 6-9 months. - Operational efficiencies and backward integration efforts (e.g., new seamless pipe plant) to support margin improvement alongside volume growth.

- DEE Development Engineers Limited expects a threefold increase in revenue over the next 3 to 5 years. - For FY '26, the company anticipates booking orders worth around INR 1,200 crores with about 45% from the Oil & Gas sector. - Revenue guidance for FY '26 is around INR 1,300 crores with operating EBITDA margins targeted between 19% to 20%. - Operating performance is expected to improve as the new Anjar capacity becomes operational, increasing revenue potential to INR 2,500 - 3,000 crores overall. - Margins may reach peak levels above the current 18%, but detailed medium-term guidance will be provided in upcoming calls. - Profit after tax grew significantly (314.3% YoY) in Q1 FY '26 with expectations of continued strong growth. - Elevated working capital requirements will be funded primarily through borrowings initially, with other funding options considered based on future order inflows.

- Current order book as of July 31, 2025, stands robust at INR 1,226 crores. - Anticipated order inflow of around INR 1,200 crores by March 2026, in addition to around INR 320 crores received in the first 4 months of FY26. - Order pipeline for FY27 is strong with expectations of continued significant orders, especially from Oil & Gas and Power sectors. - Presently, discussions and final negotiations are ongoing with multiple customers, underpinning confidence in order booking targets. - Execution timelines for large Power sector orders range from 6 to 12 months. - Opening order book for the next period is expected to be INR 1,500+ crores. - A share of about 2% of the current order book is to be shipped to the USA. - Orders from ExxonMobil are not included in the INR 1,200 crores order inflow guidance. - Overall outlook indicates a healthy and growing order book supporting revenue growth.