Dee Development Engineers secures order from US based company; Shares rally 4%

Shares of Dee Development Engineers surged more than 4% on Monday after the company announced an order win from an international company. The shares traded 4.1% higher at ₹252 per share on the NSE at 2:14 pm.

Dee Development Engineers has secured an order from one largest international company in oil & gas with headquarters in the US for supply of process piping solutions to customer for their upcoming and ongoing projects across the globe and yearly inflow of orders will be multimillion dollars.

This agreement will add significant momentum to the company’s growth trajectory and long-term value creation for its shareholders.

Dee Development Engineers is an engineering company providing specialized process piping solutions for industries such as oil and gas, power (including nuclear), chemicals and other process industries through engineering, procurement and manufacturing.

The Sales for the quarter ended December 2024 of ₹104.3 crore declined by -37.72% from ₹167.4 crore .The Net Loss for the quarter ended December 2024 is ₹-13 crore as compared to Net Profit of ₹5.9 crore of corresponding quarter ended December 2023. Operating profit Margin for the quarter ended December 2024 slipped to -3.02% as compared to 238.12% of corresponding quarter ended December 2023