DEE Development Engineers Limited has informed the Exchange about Transcript
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DEE Development Engineers reported Q4 FY25 revenue of INR286 crores, up 17.7% year-on-year and 76.8% quarter-on-quarter, with operating EBITDA margin expanding sharply to 22.2% and profit after tax nearly tripling to INR31.5 crores. Full year FY25 revenue grew 4.9% to INR827 crores with EBITDA margin at 15%, while the order book stood at INR1,275 crores as of April 30, 2025. Management guided FY26 revenue of around INR1,300 crores (over 50% growth) and EBITDA margins of 19-20%, supported by Anjar capacity expansion (15,000 MT by October 2025) and a seamless pipe plant starting in January 2026. Key negative: the Punjab electricity regulator sharply cut tariffs for the company's two biomass power plants, potentially reducing annual revenue by about INR38.5 crores, and the company is legally challenging the order. New wins include a $50 million Dow Chemical order and an ExxonMobil rate contract.
Strong quarterly execution, robust order book visibility, and clear margin expansion roadmap are positive for the stock, though the biomass tariff cut is a near-term overhang on profitability. Investors should watch outcomes of the legal challenge and Anjar ramp-up progress.