Dee Development Engineers delivers stellar performance across all key parameters

Palwal (Haryana), February 5, 2026: DEE Development Engineers Limited, India’s largest integrated process piping solutions provider, has announced its results for the quarter and nine months ended 31st December, 2025.

Financial & Operational Highlights

• Q3FY26 Revenue grew by 77% YoY at INR 286.7 Cr driven by healthy execution momentum in the Piping & Fittings segment, supported by strong supplies to the Oil & Gas sector
• Operating EBITDA grew by 740.9% YoY, driven by operating leverage on the back of higher execution levels and improved capacity utilization.
• Despite an Operating EBITDA loss of INR 14.64 crore in 9M FY26, the Company has achieved an EBITDA of INR 127.57 crores, representing an EBITDA margin of 16.35%. Excluding this impact, EBITDA and EBITDA margin would have been Rs. 142.21 crores and 19.14%, respectively.
• Core business received new order inflows of INR 251 crore in the quarter, underscoring sustained demand from Power sector.
• During Q3 FY26, the implementation of the new labor codes led to a one‑time operational impact of INR 4.2 crore for the Company

Commenting on the results, Krishan Lalit Bansal, Chairman, DEE Development Engineers Limited, said: “During Q3 FY26, we delivered a strong set of operating and financial results, with healthy growth in revenue, Operating EBITDA, and PAT, driven by robust execution in our pipe and fitting segment catering to the oil & gas sector. At a macro level, India’s capital expenditure cycle is gaining momentum, with corporates across infrastructure, energy, and industrial segments expected to significantly ramp up investment in plant and equipment supporting demand for project delivery and capacity expansion. Additionally, the implementation of India’s new labour codes had a one‑time accounting impact in earnings this quarter as past service obligations had to be adjusted, we believe these changes should translate into a more resilient workforce and strengthen employee security over time.

“In our core business, excluding the power generation division, the Anjar Pipe Fabrication Unit, which commenced operations in September 2025, was fully operational during the quarter and is consistently benefiting from operating leverage as utilisation ramps up, supporting margin expansion. The Anjar Seamless Pipe Plant remains on schedule for commercialisation in the current quarter and will further strengthen our capacity for execution in high‑growth segments. We also see encouraging visibility for order flows in the coming months from the power segment, particularly in the piping and fitting business, underpinning a healthy project funnel and sustained execution momentum.

“In the non‑core power generation segment, tariff revision matters are currently under litigation, and the company is strategically working on restructuring initiatives to improve long‑term sustainability and operational efficiency, positioning the business for future stability.”