DEE Development Engineers Limited has announced significant changes to its senior management team following a board meeting held on January 6, 2026. The company disclosed the resignation of its Chief Financial Officer and the appointment of his successor in compliance with regulatory requirements under Regulation 30 of SEBI Listing Regulations.

CFO Resignation Details

The board accepted the resignation of Sameer Agarwal from his position as Chief Financial Officer and Key Managerial Personnel, effective from the close of business hours on January 5, 2026. In his resignation letter dated January 5, 2026, Agarwal stated that his decision was driven by personal professional priorities and future career plans requiring him to pursue opportunities outside the company.

Agarwal confirmed in his resignation letter that his departure was purely personal and not due to any disagreement or concern relating to the company's operations, financial reporting, internal controls, audit processes, governance standards, or compliance framework. He expressed appreciation for the support received during his tenure and committed to ensuring a smooth transition.

New CFO Appointment

The board appointed Braham Prakash Yadav as the new Chief Financial Officer and Key Managerial Personnel, effective January 7, 2026. The appointment was made based on recommendations from both the Nomination and Remuneration Committee and the Audit Committee.

Professional Background

Yadav brings extensive experience in finance, accounts, treasury, taxation, internal controls, budgeting, MIS, fund raising, IPOs, mergers and acquisitions, and board-level financial management in large, multi-plant manufacturing organizations, primarily in the automotive sector. His recent association was with Munjal Auto Industries Limited, a listed company, where he served as Chief Financial Officer and Board Member since May 2020.

Prior to this role, Yadav served as AVP-Finance at Hema Engineering Industries Limited from September 2014 to April 2020, where he managed finance operations across six manufacturing plants with an approximate turnover of ₹1,500.00 crore. His career includes senior leadership positions at various organizations including Omax Autos Limited, SIAC SKH Cabs Manufacturing (India) Private Limited, Krishna Maruti Limited, and Lifelong India Limited.

Key Expertise Areas

Yadav's professional expertise encompasses several critical areas including IPO processes and private equity management, fund raising and banking operations, working capital and treasury management, Ind AS and IFRS compliance, internal financial controls and inventory management, financial reporting and consolidation, direct and indirect taxation, and SAP HANA and ERP systems implementation.

Notably, he has successfully managed private debt funding of ₹400.00 crore, handled multiple plant acquisitions, overseen large greenfield and brownfield projects, and implemented cost optimization strategies.

Regulatory Compliance

The board meeting commenced at 5:00 PM and concluded at 5:30 PM on January 6, 2026. The decisions were made in compliance with Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, and related SEBI circulars. Company Secretary and Compliance Officer Ranjan Kumar Sarangi signed the disclosure documents, ensuring proper regulatory compliance for both the resignation acceptance and new appointment. The company confirmed that Yadav is not debarred from holding the office of Chief Financial Officer by any regulatory authority.

DEE Development Engineers Limited (DDEL) has reported a robust performance for the second quarter of fiscal year 2026, marked by significant revenue growth and operational improvements. The company's strategic capacity expansion and strong order book position it well for sustained growth in the coming quarters.

Financial Highlights

DDEL's Q2 FY26 results showcase impressive year-on-year growth:

For the first half of FY26, the company reported:

Order Book and New Projects

DDEL maintains a healthy order book of ₹1,308.00 crore as of September 30, 2025. During Q2, the company secured new orders worth ₹170.00 crore from the thermal power sector, underlining its strong position in this market segment.

Capacity Expansion

In a significant development, DDEL successfully commissioned 15,000 metric tons of process piping solutions capacity at its Anjar facility in September 2025. This expansion doubles the total installed capacity at Anjar to 30,000 metric tons per annum, enhancing the company's ability to serve both domestic and international clients more efficiently.

Future Outlook

DDEL's management expects continued growth in the power and oil & gas sectors:

• Anticipates securing orders worth approximately ₹500.00 crore from the power sector and ₹100.00 crore from oil and gas in the remaining fiscal year.
• Projects revenue growth of 40-45% for the full fiscal year.
• Targets EBITDA margins in the range of 16-18%.

Upcoming Projects

The company is progressing with the installation of a 7,000 metric ton seamless pipe line, expected to commence commercial production by January 2026. This addition aims to strengthen DDEL's backward integration capabilities, enhance cost efficiency, and expand its product mix.

Management Commentary

During the recent earnings conference call, Mr. Krishan Lalit Bansal, Chairman & Managing Director of DDEL, expressed confidence in the company's growth trajectory. He highlighted the strong traction in the power sector and the potential for significant orders in the oil and gas segment, particularly in the next fiscal year.

Mr. Bansal stated, "We are quite hopeful and we have the numbers supporting us, we have the order book supporting us and we have the material supporting us." He also mentioned that the company is preparing a detailed paper on the opportunities available in the power sector, which will be shared with stakeholders soon.

Conclusion

With its expanded capacity, robust order book, and positive outlook in key sectors, DEE Development Engineers Limited appears well-positioned for continued growth. The company's focus on high-value projects and strategic capacity enhancements could drive improved profitability in the coming quarters, subject to market conditions and successful execution of its order book.