DEE Development Engineers Limited has informed the Exchange regarding Board meeting held on November 04, 2025.
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DEE Development Engineers' Board approved unaudited (standalone and consolidated) results for Q2 and H1 FY26 ended September 30, 2025. Consolidated revenue from operations rose to Rs 49,375.82 lakhs in H1 FY26 from Rs 37,899.09 lakhs in H1 FY25 (~30% growth), while Q2 revenue grew ~39% YoY to Rs 26,999.99 lakhs. Consolidated H1 PAT grew ~22% YoY to Rs 3,093.78 lakhs, but Q2 PAT actually dipped to Rs 1,779.84 lakhs from Rs 2,226.43 lakhs a year ago. Standalone performance was stronger, with Q2 revenue up ~45% YoY and Q2 PAT nearly doubling YoY. The auditor flagged an emphasis of matter on a sub-judice tariff dispute with Punjab State Power Corporation (potential payable of Rs 1,384.96 lakhs) and a scope limitation on impairment assessment for subsidiary Malwa Power Private Limited (assets of Rs 3,910.77 lakhs) whose PPA expired and tariff was slashed to Rs 3.50/unit. The company also acquired 70% in Molsieve Designs Limited during the quarter.
Strong top-line growth on the back of expanded piping and heavy fabrication segments is positive, but Q2 consolidated profit decline and uncertainty around the loss-making Malwa Power subsidiary (which the auditor could not assess for impairment) are key risks. Shareholders should watch the outcome of the Punjab High Court tariff case and any future impairment charge from the power subsidiary, which could weigh on consolidated earnings.