DEE Development Engineers and its material subsidiary have secured contracts aggregating ₹386.83 crore (inclusive of GST) from Bharat Petroleum Corporation Ltd for the manufacturing and supply of piping. The delivery is scheduled to be completed by 18 February 2028. This development was disclosed to the exchanges under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Contract Details

The contracts were awarded by domestic entity Bharat Petroleum Corporation Ltd, with a total consideration of INR 386,82,65,388 inclusive of GST. The company confirmed that the promoter, promoter group, or group companies do not hold any interest in the entity that awarded the contracts, and the orders do not fall within related party transactions.

Key Order Parameters

The following table summarises the key details of the awarded contracts:

DEE Development Engineers has announced its audited consolidated financial results for the quarter and year ended March 31, 2026. The company's Board of Directors reviewed the results during a meeting held on May 21, 2026. An investor presentation for the quarter and year ended March 31, 2026, was submitted to the stock exchanges on May 22, 2026, pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. Management discussed the results in an earnings conference call held on May 22, 2026.

Financial Performance Overview

For the financial year 2026, the company reported a total income from operations of ₹1,142 crore, compared to ₹827.4 crore in the previous year. Net profit for the year after tax stood at ₹77.2 crore, a significant increase of 76.9% from ₹43.6 crore in FY25. The basic earnings per share (EPS) for the year improved to ₹11.14, while diluted EPS was recorded at ₹11.14. The company's equity share capital remained stable at ₹69.26 crore during the period.

Q4 FY26 Results

In the fourth quarter of FY26, total income from operations reached ₹361.6 crore, up from ₹286.4 crore in the corresponding quarter of the previous year. Net profit after tax for Q4 was ₹27.7 crore, compared to ₹31.5 crore in Q4 FY25. The diluted EPS for the quarter stood at ₹3.99, slightly lower than the ₹4.54 reported in the same period last year.

The following table presents the key consolidated financial metrics for the quarter and year:

Operational Highlights

The company reported a closing order book of ₹2,040.07 crore, providing multi-year revenue visibility. Core business revenue for FY26 stood at ₹1,086.5 crore, a 46% YoY increase, while non-core business revenue was ₹56 crore. Operating EBITDA for the year was ₹189.3 crore, with a margin of 16.6%. The company operates seven manufacturing facilities across India and Thailand with a total installed capacity of 93,500 MTPA for piping and 32,400 MTPA for heavy fabrication.

Management Commentary and Guidance

Management attributed the strong performance to better execution, improved utilization, and operating leverage. Core business EBITDA for FY26 was ₹210.5 crore, up 64.2% year-on-year. The company expects consolidated EBITDA margins to remain above 19% going forward. For FY27, management targets revenue of ₹1,500 crore, though this is considered conservative given the current order inflow trends. The company expects order inflows to exceed ₹2,000 crore in FY27, driven primarily by the power sector. CAPEX for FY27 is projected at ₹20 to ₹30 crore, primarily for completion of existing projects and potential expansion into the nuclear sector.