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DEE Development Engineers

DEEDEV NSE
₹570.60 +49.45 (+9.49%)
P/E
49.23
View as Markdown
MCP
Close 4 Nov 2026 ₹570.60 +335.20 +142% 1Y
Start ₹235.40

Key Fundamentals

MicrocapIndustrial ManufacturingCapital Goods

Price-based figures as of · EPS basis: Consolidated · TTM

ROCE
10.70%
Debt to Equity
0.87
EPS (TTM)
₹11.59
Book Value
₹158.21
Market Cap
—
P/E (TTM)
49.23
P/B
3.61
ROE
9.31%
Dividend Yield
0.19%
EBITDA
₹208 Cr
52W High
₹760.00
52W Low
₹183.00
Day Range
₹515.00 – ₹573.00
Volume
2,99,177

Peer Comparison

Industrials › Capital Goods › Industrial Products

DEE Development Engineers peer comparison
Indo-MIM
₹1,240.10106.91₹59,516 Cr18.470.55%23.40%25.00%₹3,482 Cr₹562 Cr
Aditya Infotech
₹3,999.8098.59₹46,234 Cr14.530.04%25.40%28.60%₹4,883 Cr₹477 Cr
Syrma SGS
₹1,512.6079.19₹28,543 Cr9.590.10%14.00%16.80%₹5,464 Cr₹401 Cr
Honeywell Automation
₹29,810.0047.82₹25,976 Cr5.650.38%12.60%17.00%₹4,703 Cr₹552 Cr
Jyoti CNC Automation
₹1,034.9573.19₹22,990 Cr11.010.00%18.20%21.30%₹2,191 Cr₹323 Cr
Kaynes Technology India
₹3,330.0064.57₹21,957 Cr4.710.00%8.69%12.70%₹3,899 Cr₹345 Cr
LMW
₹17,358.00106.09₹18,108 Cr6.100.21%4.05%5.58%₹3,374 Cr₹176 Cr
DEE Development Engineers (this company)
₹570.6049.23₹3,953 Cr3.610.19%9.31%10.70%₹1,213 Cr₹81 Cr
Median 8 companies₹2,421.3076.19₹24,483 Cr7.850.15%13.30%16.90%₹3,690 Cr₹373 Cr

Comparable companies in the same industry. Market cap, P/E and P/B use the latest price; other metrics are as reported in filings. A dash means the figure is not published for that company.

Tapetide Score

Data-driven rating, 0–100, as of . How it works →

Overall score

49 Average

Data confidence 100/100

Category scores

Quality
40
Weak
Returns, margins, earnings quality 22% weight
Valuation
33
Poor
Cheap vs sector & own history 24% weight
Growth
84
Strong
Sales & profit trajectory 9% weight
Financial Health
27
Poor
Solvency, leverage, coverage 9% weight
Momentum
60
Good
Trend strength, vol-adjusted 12% weight
Ownership
66
Strong
FII/DII/promoter flows 24% weight

The Tapetide Score is data analysis, not investment advice. Tapetide is not a SEBI-registered research analyst or investment adviser.

Key Insights

Strengths

2
  • Company is expected to give good quarter
  • Company has delivered good profit growth of 40.8% CAGR over last 5 years

Weaknesses

3
  • Stock is trading at 4.17 times its book value
  • Promoter holding has decreased over last quarter: -5.05%
  • Company has a low return on equity of 7.80% over last 3 years.

Technical Indicators

Technical signals: verdict and indicator counts
GroupSignalBearishNeutralBullish
OverallBullish559
OscillatorsBullish153
Moving AveragesStrong Bullish406

Key readings

RSI (14)
48.98
Neutral
MACD (12,26,9)
−26.73
Bullish
SMA (50)
616.21
Bearish
SMA (200)
498.04
Bullish

As of

Growth Rate

From the financial statements below. 5Y, 3Y: compound annual growth to Mar 2026; 1Y: fiscal year to Mar 2026 against Mar 2025; TTM: four quarters to Jun 2026 against Jun 2025.

Revenue

Revenue growth by window
5Y+18.20%
3Y+24.21%
1Y+38.09%
TTM+40.07%

Net profit

Net profit growth by window
5Y+40.63%
3Y+80.93%
1Y+75.00%
TTM+50.00%

Operating cash flow

Operating cash flow growth by window
5Y−26.93%
3Y+12.62%
1YTurned positive
TTM—

TTM: Reported once a year, so there is no trailing-twelve-month figure.

Operating margin· change in pp

Operating margin growth by window
5Y+5.64 pp
3Y+4.74 pp
1Y+1.56 pp
TTM+1.28 pp

Revenue by year

Revenue by year, ₹ crore
Mar 2020₹723 Cr
Mar 2021₹495 Cr
Mar 2022₹461 Cr
Mar 2023₹596 Cr
Mar 2024₹789 Cr
Mar 2025₹827 Cr
Mar 2026₹1,142 Cr

Net profit by year

Net profit by year, ₹ crore
Mar 2020₹13.00 Cr
Mar 2021₹14.00 Cr
Mar 2022₹8.00 Cr
Mar 2023₹13.00 Cr
Mar 2024₹26.00 Cr
Mar 2025₹44.00 Cr
Mar 2026₹77.00 Cr

AI Analysis — Bull vs Bear

Generated 6 Jul 2026
AI opinion · based on fundamentals
Risk high

DEE Development Engineers Ltd is a ₹4,792 Cr market cap process piping solutions company trading at a P/E of 63.6x with strong revenue and profit momentum — FY26 revenue of ₹1,142 Cr (up 38% YoY) and PAT of ₹77 Cr (up 77% YoY) — but carries a modest return on equity of around 8-9% and pays no dividend despite consistent profitability.

Bull Case 8
  • FY26 revenue grew 38% YoY to ₹1,142 Cr, reflecting strong execution and demand across energy and industrial infrastructure sectors
  • FY26 PAT surged 77% YoY to ₹77 Cr, with 5-year profit CAGR of 40.8%, demonstrating sustained earnings acceleration
  • Closing order book stood at ₹1,940 Cr as of March 2026, providing roughly 1.7x FY26 revenue visibility
  • FY26 operating EBITDA grew 54% YoY to ₹191 Cr, indicating improving operating leverage and margin expansion
  • Fresh order inflows remain robust — ₹631.91 Cr in May 2026 alone, with large contracts including a ₹386.83 Cr BPCL order in June 2026
  • Diversified client base across oil & gas, power (including nuclear), chemicals, and process industries with both domestic and international (Thailand) operations
  • Stock has delivered 125% return over the past 1 year, reflecting market recognition of the business transformation
  • Compounded sales CAGR of 24% over 3 years and 18% over 5 years shows consistent top-line growth trajectory
Bear Case 7
  • Return on equity remains low at 7.81% over 3 years and 9% in the latest year, suggesting capital is not being deployed efficiently relative to the valuation premium
  • Zero dividend payout despite reporting repeated profits, offering no income return to shareholders
  • P/B ratio of 5.51x is high for an engineering company, indicating the stock is priced well above its asset base
  • 3-year and 5-year ROE of only 6-8% suggests the recent profit surge may not yet translate into structurally superior returns on capital
  • Heavy dependence on order inflows from cyclical sectors like oil & gas and power — any capex slowdown could impact the pipeline
  • At ₹4,792 Cr market cap with ₹77 Cr PAT, the company needs to sustain 40%+ profit growth for multiple years to justify current valuation multiples
  • 10-year historical growth data is sparse, limiting ability to assess long-term consistency through full business cycles

This is AI-generated analysis, not financial advice. Do your own due diligence.

AI News Digest

121d ago

TL;DR: DEE Development Engineers is firing on all cylinders with its order book jumping 27% in a single month to ₹2,434 crore, driven by strong power and oil & gas inflows. The stock has rallied 285% from its January low but now trades at a steep premium to the sector at 62x P/E. The ₹300 crore fundraise will dilute equity but strengthen the balance sheet, while the tariff litigation outcome remains a key monitorable. Momentum is clearly positive on order wins, but valuation and execution on a swelling backlog are the risks to watch.

Headwinds 3
  • P/E at 62 vs industry 29.9 Jun 08

    Stock trades at a P/E ratio of 62.1, more than double the industry average of 29.9, suggesting stretched valuations after a 285% surge from its 52-week low of ₹183.

  • Tariff revision risk on power Jun 08

    Regulator revised DEE's power tariff down to ₹5.877/unit from ₹7.47/unit; company is challenging in Punjab & Haryana High Court with interim relief, but adverse ruling could cut power revenue significantly.

  • ₹300 crore equity dilution Jun 18

    Company plans to issue 59,76,096 shares at ₹502/share to raise ₹300 crore via preferential allotment, diluting existing shareholders to repay borrowings and for general corporate purposes.

Positives 6
  • Order book surges to ₹2,434 Cr Jun 08

    Consolidated closing order book reached ₹2,433.90 crore as of May 31, 2026, up from ₹1,909.82 crore opening, with monthly inflows of ₹631.91 crore and cumulative FY27 inflows of ₹681.85 crore.

  • ₹64 Cr windmill tower order Jun 23

    Subsidiary secured a ₹64 crore order from Ganeko Solar to manufacture 15 towers for 3.3MW windmills, with delivery by January 2027.

  • Stock hits 5% upper circuit Jun 08

    Shares surged 5% to ₹707.95 hitting upper circuit on order book update, with 0.23 million shares worth ₹18.20 crore traded before halt.

Neutral 2
  • EGM on Jun 27 for fundraise Jun 08

    Record date set as June 20, 2026 for EGM scheduled June 27 via video conferencing to approve the ₹300 crore preferential share issue.

  • Palwal plant visit for analysts Jun 08

    Company hosted an investor and analyst plant visit at its Palwal, Haryana facility on June 17, 2026.

Quarterly Results

₹ Cr
DEEDEV quarterly results, ₹ crore
Particulars Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Sales
157
179
210
243
185
194
162
286
224
270
287
362
294
Expenses
143
155
180
209
160
164
156
223
188
226
239
298
245
Operating Profit
14
24
30
35
25
30
6
64
36
44
48
64
50
OPM %
9%
13%
14%
14%
13%
15%
3.5%
22%
16%
16%
17%
18%
17%
Other Income
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
PBT
−3
11
11
16
4
26
−17
42
16
22
20
38
20
Tax %
78%
9%
16%
28%
28%
15%
−24%
26%
17%
20%
8%
27%
20%
Net Profit
−5
10
9
12
3
22
−13
32
13
18
19
28
16
EPS (₹)
−0.86
1.86
1.7
2.24
0.46
3.22
−1.93
4.56
1.91
2.58
2.64
4.04
2.33

Profit & Loss

₹ Cr
DEEDEV profit and loss, annual, ₹ crore
Particulars Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales
723
495
461
596
789
827
1,142
1,213
Expenses
635
439
393
522
679
698
946
1,008
Operating Profit
87
57
68
74
109
129
196
205
OPM %
12%
11%
15%
12%
14%
16%
17%
17%
Other Income
16
18
10
19
18
21
15
13
Interest
43
30
28
34
47
45
61
62
Depreciation
33
36
36
38
45
49
53
56
PBT
27
9
13
20
36
55
96
101
Tax %
54%
−60%
38%
36%
26%
21%
20%
—
Net Profit
13
14
8
13
26
44
77
80
EPS (₹)
1.7
1.81
1.55
2.45
4.94
6.32
11.14
11.59
Div. Payout %
6%
0%
0%
0%
0%
0%
9%
—

Balance Sheet

₹ Cr
DEEDEV balance sheet, annual, ₹ crore
Particulars Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity Capital
16
16
11
11
53
69
69
Reserves
422
439
401
413
398
732
821
Borrowings
313
257
290
364
460
512
771
Other Liabilities
162
122
141
176
296
281
262
Total Liabilities
913
834
843
963
1,208
1,594
1,924
Fixed Assets
388
365
354
381
414
422
654
CWIP
2
2
4
3
66
148
84
Investments
0
0
0
0
0
0
0
Other Assets
523
467
484
579
727
1,024
1,185
Total Assets
913
834
843
963
1,208
1,594
1,924

Cash Flow

₹ Cr
DEEDEV cash flow, annual, ₹ crore
Particulars Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Operating
71
96
67
14
103
−118
20
Investing
−19
−7
−22
−52
−145
−164
−187
Financing
−65
−88
−50
40
43
285
201
Net Cash Flow
−13
1
−5
1
1
3
33
Free Cash Flow
35
80
43
−42
−31
−282
−165
CFO/EBITDA
101
181
109
27
103
−84
19

Ratios

DEEDEV financial ratios, annual
Particulars Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Debtor Days
99
146
122
106
90
109
123
Inventory Days
226
284
514
555
533
738
439
Days Payable
65
120
220
253
300
210
75
Cash Conversion Cycle
259
311
416
407
323
637
486
Working Capital Days
73
108
66
49
18
106
66
ROCE %
—
5%
6%
7%
10%
9%
11%

Insights

Beta

AI-extracted from concalls & annual reports · figures as reported, with sources

Log in to view DEE Development Engineers insights

68 extracted metrics across FY19–FY27.

Shareholding Pattern

As of Sep 2026

  • Promoters 65.13%
  • DIIs 13.54%
  • Public 11.66%
  • FIIs 5.25%
  • Others 4.42%

No promoter shares pledged as of 14 Oct 2026

Change vs previous quarter

Documents

Frequently Asked Questions about DEE Development Engineers

What does DEE Development Engineers Ltd do?
DEE Development Engineers Ltd is a design -led engineering and manufacturing company supplying specialised high-pressure process piping systems, pipe spools, fittings and bends, modular skids, pressure vessels and heavy-fabrication products.
Where is DEE Development Engineers Ltd (DEEDEV) listed?
DEE Development Engineers Ltd trades as DEEDEV on the NSE and under code 544198 on the BSE.
Which sector does DEE Development Engineers Ltd belong to?
DEE Development Engineers Ltd is classified under the Capital Goods sector, in the Industrial Products industry.
What is the PE ratio of DEE Development Engineers Ltd?
DEE Development Engineers Ltd trades at a PE ratio of 49.23 as of 4 Nov 2026, on earnings per share of ₹11.59, against a book value of ₹158.21 per share.
What is the 52-week high and low of DEE Development Engineers Ltd?
Over the last 52 weeks DEE Development Engineers Ltd has traded between ₹183 and ₹760 as of 4 Nov 2026.
Does DEE Development Engineers Ltd pay dividends?
DEE Development Engineers Ltd has a dividend yield of 0.19%.
What is the Return on Equity (ROE) of DEE Development Engineers Ltd?
DEE Development Engineers Ltd reported a return on equity of 9.31%. Its debt-to-equity ratio is 0.87.

Company Information

DEE Development Engineers Ltd is a design -led engineering and manufacturing company supplying specialised high-pressure process piping systems, pipe spools, fittings and bends, modular skids, pressure vessels and heavy-fabrication products. It serves power -including nuclear - oil & gas, refining, petrochemical, chemical and fertiliser industries, with manufacturing operations in India and Thailand.

Website deepiping.com
CEO Mr. Krishan Lalit Bansal
Employees 1,048
Listed 26 Jun 2024
Face Value ₹10

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