DEE Development secures INR 58 Cr seamless pipe orders from new Anjar plant

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prior close

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Minutes after the announcementfrom the announcement price · no benchmark

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AI summary

DEE Development Engineers has secured its first ever contracts for Alloy Steel Seamless Pipes from a joint venture of an Indian and foreign power sector conglomerate. The orders, worth INR 58 Crores, will be manufactured at the company's newly established forged seamless pipe plant at Anjar, Gujarat. The domestic order is to be executed by December 2026. Customer name was not disclosed for commercial reasons.

Likely market impact

Marks entry into seamless pipes segment; first revenue from new Anjar plant adds to growth pipeline. Positive for order book.