Why DEE Development Engineers' shares skyrocketed over 11% on Monday, February 23

"These orders reinforce our position as a trusted manufacturing partner for leading power and industrial infrastructure companies," DEE Development Engineers Chairman and Managing Director K L Bansal said in a statement.

DEE Development Engineers Ltd, a leading manufacturing and process piping solutions provider, has strengthened its order book with orders of more than ₹170 crore from prominent domestic and international industrial players across the energy and industrial infrastructure sectors across its operations in India and Thailand.

The company has secured domestic contracts aggregating to approximately ₹88 crore.

The first two orders, valued at ₹62 crore combined, have been awarded by leading Indian multinational conglomerates operating in the power sector.

The scope of work includes manufacturing critical piping systems for infrastructure applications, with delivery timelines ranging from 6-8 months up to a year.

₹26 crore order from BHEL

The second order, valued at ₹26 crore, has been awarded by Bharat Heavy Electricals Ltd (BHEL), India's largest government-owned engineering and manufacturing enterprise in the power sector.

The mandate includes the manufacturing and supply of specialised headers and vessels for industrial use.

Domestic orders will be executed on a job-work basis, with materials supplied by the customers and manufacturing undertaken at DEE Development Engineers' manufacturing facilities in India. The delivery schedule for both mandates is within one year.

The company has secured international contracts aggregating to about $9.5 million, the company added.

About DEE Development Engineers

DEE Development Engineers is engaged in providing specialised process piping solutions for industries such as oil and gas, power (including nuclear), chemicals, and other process industries through engineering, procurement, and manufacturing.

The company's segments include the Piping Division, the Power Division, and Heavy Fabrication.

The company's manufacturing facilities are located at Palwal in Haryana, Anjar in Gujarat, Barmer in Rajasthan, and Bangkok in Thailand.