DEE Development Engineers

DEE Development Engineers delivered a strong Q3 FY26 with revenue of 286.7 croreCurrent reported value: 286.7 crore. No comparable prior figure is available in the source record. (up 77Current reported value: 77. No comparable prior figure is available in the source record.% YoY) and EBITDA of 47.6 croreCurrent reported value: 47.6 crore. No comparable prior figure is available in the source record. (up 741% YoY), driven by robust execution in the core piping and fabrication business. Core business EBITDA for 9M FY26 stood at 129.8 croreCurrent 129.8 crore. Reported change: +175.5% YoY., up 175.5% YoY, reflecting improved capacity utilization and operating leverage. The Anara facility is fully operational and the seamless pipe plant (7,000 TPA, capex ₹90 crore) is nearing commissioning, expected to generate peak revenue of ₹450 croreCurrent ₹450 crore. Reported change: N/A. with 30-35% IRR. Management reiterated core business margin guidance of 18-20% for FY27, supported by a strong order pipeline (₹1,300 crCurrent ₹1,300 Cr. Reported change: N/A.ore order book) and L1 positions worth ₹300-400 crore. The non-core power segment remains a drag (₹36 crCurrent ₹36 Cr. Reported change: N/A.ore loss expected in FY26), but biomass pellet plant commissioning should make it EBITDA-neutral from FY27. Key risk: further adverse tariff revisions or delays in power segment resolution could prolong cash drain.