Dee Development Engineers Ltd
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ABOUT
KEY POINTS
Revenue Breakup Mar 2026 • Piping Division: 96.2% • Power Division: 3.8%
AI Sector View
AI GENERATEDCapital Goods
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.
PROS
- Company has delivered good profit growth of 20.5% CAGR over last 5 years
- Latest quarter profit grew 47.4% YoY, showing strong momentum
- Company has delivered good sales growth of 17.4% CAGR over last 5 years
- Working capital cycle has improved - days down from 135 to 89
CONS
- Operating cash flow has been negative in recent years
- Recent results are weak - TTM profit is down 20.7% versus prior year
- Receivables are growing faster than sales - a possible quality concern
- Company has a low return on equity of 4.8% over last 3 years
- Company has a low return on capital employed of 8.3%
- Poor cash conversion - profits are not backed by operating cash flow (CFO/PAT -1.15x)
* The pros and cons are machine generated based on quantitative rules.
Peer comparison
| Name | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| BHEL | 430.60 | 61.64 | 149937.65 | 0.33 | 376.71 | 182.70 | 7697.72 | 40.29 | 9.24 | 6.69 |
| INDOMIM | 1018.90 | 94.43 | 50382.66 | 0.58 | 2401.22 | — | 12187.42 | — | 24.48 | 33.36 |
| THERMAX | 3680.25 | 73.91 | 43852.50 | 0.54 | 21.79 | -85.61 | 2302.73 | 7.09 | 15.85 | 2.98 |
| HONAUT | 34514.05 | 55.37 | 30515.68 | 0.32 | 150.70 | 20.95 | 1204.40 | 1.80 | 17.04 | 14.32 |
| JYOTICNC | 987.95 | 69.84 | 22468.26 | 0.00 | 57.14 | -19.99 | 508.47 | 23.97 | 21.34 | 21.40 |
| INOXINDIA | 2245.75 | 80.12 | 20418.91 | 0.09 | 58.07 | -4.98 | 370.79 | 9.18 | 33.54 | 20.46 |
| AZAD | 2846.00 | 132.25 | 18379.96 | 0.00 | 351.60 | 1094.62 | 1725.99 | 1159.00 | 12.04 | 37.29 |
| TRITURBINE | 569.10 | 53.80 | 18091.60 | 0.75 | 51.10 | -20.65 | 442.70 | 19.23 | 35.95 | 11.59 |
| TEGA | 1731.10 | 615.52 | 13005.36 | 0.12 | -1082.52 | -3163.59 | 17234.42 | 4739.88 | 8.37 | 3.27 |
| LLOYDSENGG | 82.72 | 57.36 | 12830.19 | 0.30 | 68.23 | -77.28 | 527.15 | 142.92 | 17.99 | 15.04 |
| KRN | 1595.75 | 107.75 | 10445.54 | 0.00 | 32.90 | 164.84 | 252.32 | 118.87 | 16.06 | 19.44 |
| DEEDEV | 639.80 | 59.94 | 4813.82 | 0.16 | 160.83 | 1124.07 | 2944.62 | 1215.98 | 11.27 | 16.89 |
Quarterly Results
Standalone Figures in Rs. Crores / View Consolidated
| 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 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 130 | 146 | 167 | 201 | 144 | 149 | 104 | 242 | 170 | 216 | 226 | 307 | 238 | |
| 118 | 132 | 148 | 176 | 129 | 131 | 109 | 184 | 143 | 181 | 185 | 259 | 227 | |
| Operating Profit | 12 | 14 | 20 | 25 | 15 | 18 | -5 | 57 | 27 | 35 | 41 | 48 | 11 |
| OPM % | 8.85% | 9.74% | 11.73% | 12.29% | 10.69% | 11.89% | -4.92% | 23.77% | 15.82% | 16.03% | 18.21% | 15.62% | 4.74% |
| 3 | 9 | 4 | 5 | 4 | 7 | 5 | 1 | 2 | 5 | 0 | 5 | 3 | |
| Interest | 7 | 8 | 8 | 8 | 10 | 9 | 9 | 10 | 10 | 13 | 14 | 16 | 16 |
| Depreciation | 7 | 7 | 8 | 11 | 9 | 6 | 8 | 8 | 9 | 9 | 10 | 10 | 11 |
| Profit before Tax | 0 | 7 | 7 | 11 | 1 | 10 | -18 | 40 | 10 | 18 | 18 | 27 | 14 |
| Tax % | 430.77% | 5.96% | 16.41% | 26.76% | 29.51% | 25.66% | 23.46% | 25.75% | 25.55% | 25.50% | 11.98% | 25.74% | 25.59% |
| Net Profit | -1 | 7 | 6 | 8 | 0 | 7 | -14 | 29 | 7 | 13 | 16 | 20 | 11 |
| -0.24 | 1.31 | 1.12 | 1.55 | 0.08 | 1.15 | -2.11 | 4.25 | 1.03 | 1.93 | 2.24 | 2.93 | 1.52 |
Profit & Loss
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| 473 | 513 | 519 | 620 | 411 | 370 | 503 | 644 | 639 | 919 | 987 | |
| 423 | 441 | 444 | 543 | 363 | 329 | 447 | 568 | 549 | 764 | 852 | |
| Operating Profit | 51 | 73 | 75 | 76 | 49 | 42 | 56 | 76 | 90 | 155 | 135 |
| OPM % | 10.70% | 14.14% | 14.50% | 12.33% | 11.85% | 11.25% | 11.07% | 11.85% | 14.12% | 16.85% | 13.67% |
| 27 | 5 | 19 | 18 | 16 | 18 | 23 | 21 | 16 | 13 | 13 | |
| Interest | 28 | 28 | 29 | 34 | 22 | 22 | 29 | 40 | 40 | 57 | 59 |
| Depreciation | 19 | 19 | 19 | 21 | 22 | 22 | 24 | 31 | 34 | 38 | 40 |
| Profit before Tax | 31 | 31 | 47 | 40 | 21 | 16 | 26 | 26 | 32 | 72 | 77 |
| Tax % | 40.24% | 37.34% | 32.57% | 30.46% | -5.16% | 20.65% | 27.25% | 24.08% | 27.05% | 22.30% | 22.50% |
| Net Profit | 19 | 19 | 32 | 28 | 22 | 12 | 19 | 20 | 23 | 56 | 60 |
| EPS | 0.00 | 0.00 | 0.00 | 17.23 | 14.09 | 2.29 | 3.50 | 3.74 | 3.38 | 8.12 | — |
| Dividend Payout % | 0.00% | 0.00% | 2.47% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 12.32% | — |
COMPOUNDED SALES GROWTH
- 10 Years:
- 4%
- 5 Years:
- 17%
- 3 Years:
- 22%
COMPOUNDED PROFIT GROWTH
- 10 Years:
- 8%
- 5 Years:
- 21%
- 3 Years:
- 45%
STOCK PRICE CAGR
- 10 Years:
- —
- 5 Years:
- —
- 3 Years:
- —
- 1 Year:
- 123%
RETURN ON EQUITY
- 10 Years:
- 5%
- 5 Years:
- 4%
- 3 Years:
- 5%
- Last Year:
- 7%
Balance Sheet
Standalone Figures in Rs. Crores / View Consolidated
| 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 |
| 379 | 398 | 430 | 456 | 479 | 446 | 464 | 440 | 749 | 815 | |
| 205 | 294 | 235 | 207 | 172 | 214 | 277 | 357 | 344 | 616 | |
| Trade Payables | 56 | 81 | 94 | 61 | 66 | 84 | 113 | 200 | 142 | 79 |
| 74 | 144 | 143 | 79 | 36 | 36 | 43 | 98 | 220 | 260 | |
| Total Liabilities | 730 | 934 | 918 | 819 | 768 | 790 | 908 | 1,147 | 1,524 | 1,839 |
| 240 | 232 | 225 | 226 | 215 | 214 | 248 | 291 | 301 | 524 | |
| Capital Work in Progress | 1 | 1 | 8 | 2 | 1 | 4 | 3 | 64 | 148 | 80 |
| 31 | 40 | 56 | 57 | 57 | 68 | 68 | 68 | 110 | 117 | |
| 142 | 237 | 256 | 225 | 166 | 211 | 249 | 341 | 512 | 513 | |
| 0 | 0 | 0 | 0 | 0 | 0 | 0 | 153 | 203 | 343 | |
| Cash & Bank | 2 | 0 | 15 | 0 | 4 | 25 | 31 | 32 | 46 | 60 |
| 314 | 423 | 358 | 308 | 324 | 268 | 309 | 198 | 204 | 201 | |
| Total Assets | 730 | 934 | 918 | 819 | 768 | 790 | 908 | 1,147 | 1,524 | 1,839 |
Cash Flows
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|
| 110 | -11 | 150 | 87 | 75 | 61 | 26 | 84 | -154 | -45 | |
| Cash from Investing | -23 | -15 | -38 | -26 | -10 | -32 | -52 | -140 | -149 | -162 |
| Cash from Financing | -77 | 51 | -82 | -60 | -55 | -27 | 32 | 56 | 309 | 216 |
| -0 | -1 | 14 | -14 | 3 | -4 | 0 | 0 | 5 | 10 |
Ratios
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|
Documents
Corporate disclosures, annual reports, credit ratings, and concall transcripts
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 - DEE Development Engineers Limited has informed the Exchange about Updates On The Monthly Execution And Order Position Of The Company
2026-08-28 - DEE Development Engineers Limited has informed the Exchange about Copy of Newspaper Publication of 37th Annual General Meeting
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 - DEE Development Engineers Limited has informed the Exchange about Annual report along with the Notice of Annual General Meeting
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 - 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 - 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 - DEE Development Engineers Limited has informed the Exchange that Record date for the purpose of Dividend is 16-Sep-2026.
News
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