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The total value of the contract is estimated at euro 1.9 million, equivalent to around Rs 20 crore. The order is scheduled to be executed by May 2027.
The company stated that it is unable to disclose the name of the customer due to commercial confidentiality.
DEE Development Engineers (DDEL) is an engineering company providing specialized process piping solutions for industries such as oil and gas, power (including nuclear), process industries, and chemicals through engineering, procurement, and manufacturing services.
The company reported a consolidated net profit of Rs 18.28 crore in Q3 FY26 compared with a net loss of Rs 13.33 crore in Q3 FY25. Net sales increased 77% YoY to Rs 298.67 crore in Q3 FY26.
The order has been awarded by a domestic entity, a joint venture between an Indian conglomerate and a foreign power sector major. The name of the customer has not been disclosed due to commercial considerations.
The contract, valued at Rs 58 crore, is scheduled to be executed by December 2026, the company said in a regulatory filing.
This is the maiden order for seamless pipes to be manufactured at the company’s new facility in Anjar, Gujarat, signalling the commencement of commercial operations at the plant.
The company clarified that neither the promoter nor the promoter group has any interest in the entity awarding the contract. It also stated that the order does not fall under related party transactions.
Arihant Capital Markets Ltd, DEE Development Engineers Ltd, V R Films & Studios Ltd and Suryalakshmi Cotton Mills Ltd are among the other gainers in the BSE's 'B' group today, 23 February 2026.
Akme Fintrade (India) Ltd surged 19.39% to Rs 7.02 at 23-Feb-2026 EOD IST. The stock was the biggest gainer in the BSE's 'B' group. On the BSE, 8.74 lakh shares were traded on the counter so far as against the average daily volumes of 1.21 lakh shares in the past one month.
Arihant Capital Markets Ltd soared 13.99% to Rs 85.45. The stock was the second biggest gainer in 'B' group. On the BSE, 65074 shares were traded on the counter so far as against the average daily volumes of 14319 shares in the past one month.
DEE Development Engineers Ltd spiked 13.17% to Rs 262. The stock was the third biggest gainer in 'B' group. On the BSE, 13.53 lakh shares were traded on the counter so far as against the average daily volumes of 10210 shares in the past one month.
V R Films & Studios Ltd spurt 11.70% to Rs 14.7. The stock was the fourth biggest gainer in 'B' group. On the BSE, 359 shares were traded on the counter so far as against the average daily volumes of 1585 shares in the past one month.
Suryalakshmi Cotton Mills Ltd jumped 10.71% to Rs 62. The stock was the fifth biggest gainer in 'B' group. On the BSE, 3149 shares were traded on the counter so far as against the average daily volumes of 716 shares in the past one month.
Further, the company secured additional domestic contracts aggregating over Rs 42 crore from a joint venture between an Indian and a foreign power sector conglomerate (name undisclosed due to commercial reasons) for the manufacturing and supply of critical piping solutions on a job work basis, to be delivered within one year.
Its material subsidiary, DEE Piping Systems (Thailand) Co., has bagged international orders worth approximately US$ 9.5 million from a US-based OEM in the power sector. The contract includes manufacturing of HRSG piping for 11 units on a job work basis (US$ 8 million), to be delivered by December 2028, and pipe fittings and flanges for seven units on a material basis (US$ 1.5 million), to be delivered by December 2027. The promoter group has no interest in the awarding entity, and the transactions are not related party transactions.
The aggregate value of the order will be more than $40 million and the LoI will remain valid till 18 February 2027.
The company reported consolidated net profit of Rs 18.28 crore in Q3 FY26 compared with net loss of Rs 13.33 crore in Q3 FY25. Net sales increased 77% YoY to Rs 298.67 crore in Q3 FY26.
The project is scheduled for execution from May 2026 to January 2027.
The company reported a 20.1% year-on-year drop in consolidated net profit to Rs 17.80 crore, despite a 39.1% rise in revenue from operations to Rs 270 crore in Q2 FY26 over Q2 FY25.
Shares of DEE Development Engineers rose 1.89% to close at Rs 212.80 on the BSE.