The shares of this smallcap company fell around 2 percent in Friday’s trading session despite receiving an order from BHEL worth Rs. 6.33 crores. The stock made a stellar debut on the stock exchange last month marking a 67 percent premium over its IPO issue price.
Price Movemnet:
With a market capitalization of Rs. 2,437 crores, the shares of DEE Development Engineers Ltd started Friday’s trading session on a higher note at Rs. 363.35 compared to its previous close of Rs. 360.20. During the trading session, the shares hit a low of Rs. 351, losing around 2 percent and are currently trading at Rs. 352 apiece.
What Happened:
According to the exchange filing, the company bagged a purchase order from Bharat Heavy Electricals Limited for the supply of turbine integral piping worth Rs. 6.33 crores and the order has to be completed by August 2025.
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Financials:
Looking at the company’s financial statements, the revenue increased by around 16 percent from Rs. 210 crores during the December quarter to Rs. 243 crores in the March quarter. In addition, the net profits zoomed by 33 percent from Rs. 9 crores to 12 crores during the same timeframe.
Manufacturing Facility:
With six strategically located manufacturing facilities in Haryana, Gujarat, Rajasthan and Thailand. Further, the company is a leading global process pipe solution provider, known for its technical capability to address complex requirements across various industrial segments. It is also the largest player in process piping solutions in India by installed capacity.
Important Financial Ratios:
In terms of key financial metrics, the company reported a Return on Equity (RoE) of 3.99 percent and a return on capital employed (RoCE) of 9.73 percent for the period spanning FY23-24. Additionally, during the same period, the net profit margin stood at 3.07 percent.
Shareholding Pattern:
According to the latest shareholding pattern, Promoters possess 742.07 percent of the shares, with Foreign Institutional Investors (FIIs) holding 5.76 percent and Domestic Institutional Investors (DIIs) holding 7.84 percent. Retail Investors account for the remaining 16.24 percent.
Company Profile:
Dee Development Engineers (DDEL) provides specialized process piping solutions for industries like oil and gas, power (including nuclear), chemicals, and other process industries through engineering, procurement, and manufacturing.
Written By Vaibhav Patil
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