Shares of DEE Development Engineers Ltd hit the 5% upper circuit on Monday after the company reported strong order inflows for May.
The stock rose to ₹707.95, up from the previous close of ₹674.25. The company has a market capitalisation of ₹4,904 crore and trades at a price-to-earnings multiple of 62.1 times, compared with the industry average of 29.9 times.
Order book crosses ₹2,400 crore
DEE Development’s total order book stood at ₹2,433.9 crore as of May 31, 2026, up from ₹1,909.8 crore at the beginning of the month.
The increase came after the company secured fresh orders worth ₹631.9 crore during May.
Projects worth ₹107.8 crore were executed during the month.
For FY27 so far:
- Cumulative order inflows stood at ₹681.9 crore
- Cumulative execution reached ₹177.5 crore
Power and oil & gas drive growth
The company’s piping business continued to account for the bulk of the order pipeline.
Power segment
The power business reported an order book of ₹1,251.4 crore.
Fresh orders worth ₹274.8 crore were added during May.
Oil and gas segment
The oil and gas segment ended the month with an order book of ₹881.2 crore.
New orders worth ₹358.5 crore were received during the period.
Together, the two businesses accounted for most of the company’s order backlog.
Other businesses
Outside India, DEE Thailand reported an order book of ₹184.8 crore in the power segment.
Other businesses included:
- Heavy fabrication: ₹110.2 crore
- Molsieve Designs: ₹3.2 crore
These segments provide additional revenue streams and geographical diversification.
Power division update
For Malwa Power, the electricity regulator fixed the FY26 tariff at ₹5.224 per kWh.
The tariff comprises:
- Fixed cost: ₹0.97 per kWh
- Variable cost: ₹4.254 per kWh
With a 5% annual escalation in variable charges, the applicable tariff for FY27 works out to ₹5.437 per kWh.
Based on this tariff, the company expects FY27 revenue of around ₹47.7 crore, including about ₹23.4 crore from pellet plant operations.
The company may challenge the tariff order before the appellate tribunal.
For DEE Development’s own power division, the regulator revised the tariff to ₹5.877 per unit.
The company challenged the decision before the Punjab and Haryana High Court.
Following an interim order, electricity continues to be supplied at the existing tariff of ₹7.47 per unit.
Financial performance
Year-on-year
- Revenue increased 26.6% to ₹362 crore
- Operating profit remained at ₹64 crore
- Net profit declined 12.5% to ₹28 crore
Quarter-on-quarter
- Revenue rose 26.1% from ₹287 crore
- Operating profit increased 33.3% to ₹64 crore
- Net profit jumped 47.4% to ₹28 crore from ₹19 crore
About the company
DEE Development Engineers Ltd manufactures process piping systems and heavy fabrication equipment used in:
- Power
- Oil and gas
- Chemicals
- Industrial sectors
The company operates manufacturing facilities in India and Thailand and also has interests in power generation businesses.
TL;DR
DEE Development Engineers hit the 5% upper circuit after reporting fresh orders worth ₹631.9 crore in May. The inflows pushed its total order book to ₹2,433.9 crore, with the power and oil and gas segments contributing the majority of the backlog.
AI Summary
- DEE Development hit the 5% upper circuit.
- The company received orders worth ₹631.9 crore in May.
- Total order book rose to ₹2,433.9 crore.
- Power and oil and gas remain the largest segments.
- Revenue grew 26.6% year-on-year to ₹362 crore.
