Dee Development Engineers Ltd

•

deepiping.comBSE: 544198NSE: DEEDEV

Market Cap₹ 4,923 Cr.

Current Price

High / Low₹ 760 / 183

Stock P/E61.3

Book Value₹ 160

Price to Book2.10

Dividend Yield0.15 %

ROCE11.3 %

ROE9.2 %

Face Value₹ 10

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ABOUT

KEY POINTS

Revenue Breakup Mar 2026 • Piping Division: 87.6% • Heavy Fabrication: 7.0% • Power Division: 5.1%

AI Sector View

AI GENERATED

Capital Goods

Buy

Capital goods is supported by strong public capex and still-expansionary industrial activity. Capital expenditure rose 66% YoY (2026-06), GST collections grew 8% YoY (2026-07), and the core industries Overall Index increased 5.4% YoY (2026-07). E-way bills slowed to 6% YoY (2026-07) and sector FPI flows show INR -9697 crore net outflow over 3 months to 2026-08-31, but the investment cycle and fiscal impulse remain favorable.

Confidence

72%

View full sector analysis →

PROS

Company has delivered good profit growth of 40.5% CAGR over last 5 years
Company has consistently been profitable over the last 5 years
Company has delivered good sales growth of 18.2% CAGR over last 5 years
Working capital cycle has improved - days down from 126 to 93
Attractively priced for its growth - PEG of 0.8

CONS

Company has a low return on equity of 7.4% over last 3 years
Company has a low return on capital employed of 10.2%
Receivables are growing faster than sales - a possible quality concern
Poor cash conversion - profits are not backed by operating cash flow (CFO/PAT 0.03x)
Recent results are weak - TTM profit is down 10.3% versus prior year

* The pros and cons are machine generated based on quantitative rules.

Peer comparison

Capital GoodsCapital GoodsEngineering - Industrial Equipments

Part ofNIFTY 50 NIFTY 500 NIFTY LARGEMIDCAP 250 NIFTY 100 NIFTY 200

S.No.	Name
1.	BHEL	432.00	61.84	150425.14	0.32	376.71	182.70	7697.72	40.29	9.24	6.69
2.	INDOMIM	1005.45	93.18	49717.58	0.59	2401.22	—	12187.42	—	24.48	33.36
3.	THERMAX	3641.75	73.13	43393.75	0.55	21.79	-85.61	2302.73	7.09	15.85	2.98
4.	HONAUT	34123.10	54.75	30170.02	0.32	150.70	20.95	1204.40	1.80	17.04	14.32
5.	JYOTICNC	1004.05	70.98	22834.42	0.00	57.14	-19.99	508.47	23.97	21.34	21.40
6.	INOXINDIA	2295.95	81.91	20875.34	0.09	58.07	-4.98	370.79	9.18	33.54	20.46
7.	AZAD	2773.25	128.87	17910.13	0.00	35.16	19.46	172.60	25.90	12.04	37.29
8.	TRITURBINE	561.25	53.05	17842.05	0.76	51.10	-20.65	442.70	19.23	35.95	11.59
9.	TEGA	1721.30	612.04	12931.73	0.12	-108.25	-406.36	1723.44	383.99	8.37	3.27
10.	LLOYDSENGG	80.63	55.91	12506.03	0.31	68.23	-77.28	527.15	142.92	17.99	15.04
11.	KENNAMET	4998.95	93.82	10986.81	0.00	31.50	11.31	267.30	12.55	18.99	17.51
12.	DEEDEV	654.35	61.31	4923.29	0.15	16.08	22.41	294.46	31.60	11.27	16.89

Detailed Comparison with:

Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	157	179	210	243	185	194	162	286	224	270	287	362	294
	143	155	180	209	160	164	156	223	188	226	239	298	277
Operating Profit	14	24	30	35	25	30	6	64	36	44	48	64	18
OPM %	8.95%	13.40%	14.28%	14.21%	13.40%	15.36%	3.49%	22.18%	16.03%	16.32%	16.62%	17.60%	5.97%
	2	8	3	6	3	16	-1	3	4	5	1	4	2
Interest	8	10	10	12	11	7	10	12	11	14	15	16	17
Depreciation	11	11	12	12	13	13	12	12	13	13	14	14	15
Profit before Tax	-3	11	11	16	4	26	-17	42	16	22	20	38	20
Tax %	-78.21%	8.86%	16.08%	27.97%	27.56%	14.80%	23.74%	25.51%	16.73%	20.37%	8.40%	26.93%	19.80%
Net Profit	0	0	0	0	3	22	-13	32	13	18	19	28	16
	-0.86	1.86	1.70	224.00	0.60	3.62	-2.08	4.56	1.91	2.57	2.68	4.00	2.33

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026	TTM
	519	542	547	723	495	461	595	789	827	1,142	1,213
	463	475	469	636	439	394	522	680	699	946	1,040
Operating Profit	56	67	78	86	56	67	74	109	129	196	173
OPM %	10.81%	12.31%	14.30%	11.96%	11.38%	14.62%	12.36%	13.84%	15.57%	17.14%	14.26%
	27	9	19	16	18	10	19	18	21	15	13
Interest	30	32	36	43	30	28	34	47	45	61	62
Depreciation	20	21	25	33	36	36	38	45	49	53	56
Profit before Tax	32	22	35	27	9	13	20	36	55	96	101
Tax %	42.98%	44.48%	47.72%	53.47%	-59.53%	38.34%	36.32%	26.20%	21.17%	19.83%	20.31%
Net Profit	18	12	18	13	14	8	13	26	44	77	80
EPS	0.00	0.00	0.00	9.83	10.47	1.53	2.45	4.94	6.32	11.14	—
Dividend Payout %	0.00%	0.00%	4.31%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	8.98%	—

COMPOUNDED SALES GROWTH

10 Years:: 5%
5 Years:: 18%
3 Years:: 24%

COMPOUNDED PROFIT GROWTH

10 Years:: 14%
5 Years:: 40%
3 Years:: 81%

STOCK PRICE CAGR

10 Years:: —
5 Years:: —
3 Years:: —
1 Year:: 123%

RETURN ON EQUITY

10 Years:: 5%
5 Years:: 5%
3 Years:: 7%
Last Year:: 9%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Equity Capital	16	16	16	16	16	11	11	53	69	69
	375	390	408	422	439	401	413	395	725	819
	260	364	315	310	228	288	361	422	397	659
Trade Payables	61	92	105	71	77	104	132	225	167	98
	78	147	175	94	74	40	46	112	235	279
Total Liabilities	790	1,009	1,019	913	834	843	963	1,208	1,593	1,924
	264	315	340	388	365	354	381	414	422	654
Capital Work in Progress	56	23	34	2	2	4	3	66	148	80
	158	247	288	248	184	242	289	400	585	576
	0	0	0	0	0	0	0	194	248	383
Cash & Bank	4	2	17	4	5	25	33	35	48	84
	308	422	339	272	277	217	257	98	143	146
Total Assets	790	1,009	1,019	913	834	843	963	1,208	1,593	1,924

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	101	-43	153	88	103	74	20	103	-118	20
Cash from Investing	-57	-38	-47	-19	-7	-22	-52	-145	-164	-187
Cash from Financing	-42	64	-69	-65	-88	-50	40	43	285	201
	-8	-3	15	-13	1	-5	1	1	3	33

Ratios

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026

Shareholding Pattern

Numbers in percentages

	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	70.17	70.17	70.29	70.21	70.21	70.18	70.18	70.18
	2.23	0.81	0.65	0.81	0.79	0.77	0.99	2.17
	16.16	16.53	17.43	17.33	16.60	14.87	13.91	10.79
Government	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
	11.43	12.47	11.62	11.65	12.39	14.18	14.93	16.87

Documents

Corporate disclosures, annual reports, credit ratings, and concall transcripts

2026-09-10

Updates

2026-09-10 - DEE Development Engineers Limited has informed the Exchange regarding 'Revised updates on the monthly execution and Order Position of the company'.

2026-09-09

General Updates

2026-09-09 - DEE Development Engineers Limited has informed the Exchange about Updates On The Monthly Execution And Order Position Of The Company

2026-08-28

Copy of Newspaper Publication

2026-08-28 - DEE Development Engineers Limited has informed the Exchange about Copy of Newspaper Publication of 37th Annual General Meeting

2026-08-27

General Updates

2026-08-27 - DEE Development Engineers Limited has informed the Exchange about Business Responsibility and Sustainability Reporting (BRSR) of Financial Year 2025-26

2026-08-27

General Updates

2026-08-27 - DEE Development Engineers Limited has informed the Exchange about Annual report along with the Notice of Annual General Meeting

2026-08-27

Updates

2026-08-27 - DEE Development Engineers Limited has informed the Exchange regarding Compliance Of Regulation 36(1)(B) Of The SEBI (Listing Obligations And Disclosure Requirements) Regulations, 2015'.

2026-08-27

Shareholders meeting

2026-08-27 - DEE Development Engineers Limited has informed the Exchange regarding Notice of 37th Annual General Meeting to be held on September 23, 2026

2026-08-21

Updates

2026-08-21 - DEE Development Engineers Limited has informed the Exchange regarding 'Corporate Action - Book closure from September 17, 2026 to September 23, 2026 (Both days inclusive)'.

2026-08-21

Record Date

2026-08-21 - DEE Development Engineers Limited has informed the Exchange that Record date for the purpose of Dividend is 16-Sep-2026.

News

Recent coverage and analyst commentary for DEEDEV

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Dee Development Engineers Ltd

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Free 5nance Account

Name

BHEL

432.00

61.84

150425.14

0.32

376.71

182.70

7697.72

40.29

9.24

6.69

INDOMIM

1005.45

93.18

49717.58

0.59

2401.22

—

12187.42

—

24.48

33.36

THERMAX

3641.75

73.13

43393.75

0.55

21.79

-85.61

2302.73

7.09

15.85

2.98

HONAUT

34123.10

54.75

30170.02

0.32

150.70

20.95

1204.40

1.80

17.04

14.32

JYOTICNC

1004.05

70.98

22834.42

0.00

57.14

-19.99

508.47

23.97

21.34

21.40

INOXINDIA

2295.95

81.91

20875.34

0.09

58.07

-4.98

370.79

9.18

33.54

20.46

AZAD

2773.25

128.87

17910.13

0.00

35.16

19.46

172.60

25.90

12.04

37.29

TRITURBINE

561.25

53.05

17842.05

0.76

51.10

-20.65

442.70

19.23

35.95

11.59

TEGA

1721.30

612.04

12931.73

0.12

-108.25

-406.36

1723.44

383.99

8.37

3.27

LLOYDSENGG

80.63

55.91

12506.03

0.31

68.23

-77.28

527.15

142.92

17.99

15.04

KENNAMET

4998.95

93.82

10986.81

0.00

31.50

11.31

267.30

12.55

18.99

17.51

DEEDEV

654.35

61.31

4923.29

0.15

16.08

22.41

294.46

31.60

11.27

16.89

Jun 2023

Sep 2023

Dec 2023

Mar 2024

Jun 2024

Sep 2024

Dec 2024

Mar 2025

Jun 2025

Sep 2025

Dec 2025

Mar 2026

Jun 2026

157

179

210

243

185

194

162

286

224

270

287

362

294

143

155

180

209

160

164

156

223

188

226

239

298

277

Operating Profit

OPM %

8.95%

13.40%

14.28%

14.21%

13.40%

15.36%

3.49%

22.18%

16.03%

16.32%

16.62%

17.60%

5.97%

-1

Interest

Depreciation

Profit before Tax

-3

-17

Tax %

-78.21%

8.86%

16.08%

27.97%

27.56%

14.80%

23.74%

25.51%

16.73%

20.37%

8.40%

26.93%

19.80%

Net Profit

-13

-0.86

1.86

1.70

224.00

0.60

3.62

-2.08

4.56

1.91

2.57

2.68

4.00

2.33

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

Mar 2026

TTM

519

542

547

723

495

461

595

789

827

1,142

1,213

463

475

469

636

439

394

522

680

699

946

1,040

Operating Profit

109

129

196

173

OPM %

10.81%

12.31%

14.30%

11.96%

11.38%

14.62%

12.36%

13.84%

15.57%

17.14%

14.26%

Interest

Depreciation

Profit before Tax

101

Tax %

42.98%

44.48%

47.72%

53.47%

-59.53%

38.34%

36.32%

26.20%

21.17%

19.83%

20.31%

Net Profit

EPS

0.00

9.83

10.47

1.53

2.45

4.94

6.32

11.14

—

Dividend Payout %

0.00%

4.31%

0.00%

8.98%

—

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

Mar 2026

Equity Capital

375

390

408

422

439

401

413

395

725

819

260

364

315

310

228

288

361

422

397

659

Trade Payables

105

104

132

225

167

147

175

112

235

279

Total Liabilities

790

1,009

1,019

913

834

843

963

1,208

1,593

1,924

264

315

340

388

365

354

381

414

422

654

Capital Work in Progress

148

158

247

288

248

184

242

289

400

585

576

194

248

383

Cash & Bank

308

422

339

272

277

217

257

143

146

Total Assets

790

1,009

1,019

913

834

843

963

1,208

1,593

1,924

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

Mar 2026

101

-43

153

103

-118

Cash from Investing

-57

-38

-47

-19

-7

-22

-52

-145

-164

-187

Cash from Financing

-42

-69

-65

-88

-50

285

201

-8

-3

-13

-5

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

Mar 2026

Sep 2024

Dec 2024

Mar 2025

Jun 2025

Sep 2025

Dec 2025

Mar 2026

Jun 2026

70.17

70.29

70.21

70.18

2.23

0.81

0.65

0.81

0.79

0.77

0.99

2.17

16.16

16.53

17.43

17.33

16.60

14.87

13.91

10.79

Government

0.00

11.43

12.47

11.62

11.65

12.39

14.18

14.93

16.87

Dee Development Engineers Ltd

AI Sector View

Peer comparison

Quarterly Results

Profit & Loss

Balance Sheet

Corporate actions

Cash Flows

Ratios

Shareholding Pattern

Documents

News

Sign in to Chat with AI

Dee Development Engineers Ltd

AI Sector View

Peer comparison

Quarterly Results

Profit & Loss

Balance Sheet

Corporate actions

Cash Flows

Ratios

Shareholding Pattern

Documents

News

Sign in to Chat with AI