Dee Development Engineers Limited has provided a comprehensive update on its order book position for March 2026, demonstrating strong business pipeline across multiple segments. The engineering company disclosed detailed order book figures through its regulatory filing dated April 8, 2026, offering stakeholders complete visibility into secured business commitments.

Order Book Performance Summary

The company's order book showed robust activity during March 2026, with significant order inflows and steady execution across various business verticals.

Segment-wise Order Book Breakdown

The company's diversified portfolio spans across power, oil & gas, and other industrial sectors, with operations in India and Thailand.

Piping Business Performance

Other Business Verticals

Business Pipeline Strength

The order book value of ₹1,940.07 crores represents secured contracts across the company's engineering and development operations. Additionally, the company reported being L1 (lowest bidder) for orders worth ₹209 crores from reputed clients, with formal purchase orders expected shortly. The cumulative order inflow for FY 2025-26 reached ₹1,869.67 crores, while cumulative order execution stood at ₹1,158.22 crores.

Power Business Updates

The company's power generation business operates under Power Purchase Agreements with Punjab State Power Corporation Limited, with average billing of ₹80 crores per year over the preceding two fiscal years. Recent tariff revisions by Punjab State Electricity Regulatory Commission have impacted the power division's operational framework, with DEE Development Engineers Limited continuing to supply electricity at ₹7.47 per unit following a High Court stay order.

Dee Development Engineers Limited has received a comprehensive tariff determination order from the Punjab State Electricity Regulatory Commission (PSERC) for its 6 MW biomass power project's 10-year extension period. The regulatory approval comes through PSERC's order dated March 27, 2026, in Petition No. 59 of 2024, addressing the tariff structure for the extended operational phase of the plant operated by wholly owned subsidiary Malwa Power Pvt. Ltd.

Enhanced Tariff Structure

The commission has approved a substantial tariff increase for the biomass power plant, representing a significant improvement over the previous interim arrangements. The new tariff determination provides a comprehensive framework for the extended operational period.

The variable tariff component includes a provision for 5% annual escalation, providing additional revenue growth potential throughout the extended operational period. This represents an enhancement of approximately 49.30% over the interim rate.

Project Background and Extension Details

The 6 MW biomass-based power plant is strategically located at Village Gulabewala, Tehsil Muktsar, District Muktsar, Punjab. The facility was commissioned on April 27, 2005, and operated under the original Power Purchase Agreement with Punjab State Power Corporation Limited for 20 years.

Financial Impact and Revenue Recovery

The tariff revision generates substantial financial benefits for the company. Between May 2025 and February 2026, the plant supplied approximately 3.37 crore units of electricity at the interim rate, creating a significant differential recovery opportunity.

Revenue Projections and Business Expansion

Based on the revised tariff structure and projected plant operations at approximately 85% Plant Load Factor, the company has outlined comprehensive revenue projections for the biomass operations.

The company's biomass pellet plant at Village Gulabewala, with an installed capacity of 72,000 MT per annum, will commence commercial operations shortly. Operating at 50% capacity, the plant is projected to produce approximately 36,000 MT per annum, converting agricultural residue into biomass pellets for thermal power plants.

Management Response and Legal Considerations

Commenting on the order, Mr. KL Bansal, Chairman and Managing Director, acknowledged the positive tariff enhancement while noting concerns about the methodology adopted by the commission. The company believes the tariff determination relies on outdated CERC RE Regulations 2012 instead of the applicable CERC RE Regulations 2024, which provide for substantially higher operational and maintenance expenses.

The company is actively evaluating the option of filing an appeal before the Appellate Tribunal for Electricity (APTEL) to seek an upward revision of the tariff in line with current regulatory frameworks and actual operational cost parameters. Despite these considerations, the enhanced tariff represents a significant positive development for the company's renewable energy portfolio and positions MPPL for substantial revenue growth in the extended operational period.