DEE Development Engineers Revenue to Triple to Rs 2,400 Cr

Anjar, (Gujarat) Jan 21 (PTI) DEE Development Engineers, a piping solutions provider, expects its revenue to triple to around Rs 2,400 crore in the next three to five years as it embarks on its next phase of growth, the company's Chairman and Managing Director (CMD) Krishan Lalit Bansal said.

The company, which reported a revenue of Rs 785 crore in 2023-24, is expecting higher revenue in the current financial year, Bansal said during an interaction here.

DEE Development Engineers has launched its new facility in Anjar with an investment of Rs 250 crore. The facility, with an initial capacity of 12,000 tonnes per annum, is expected to be ramped to 27,000 tonnes per annum by September this year.

The company also plans to come up with a Rs 90-crore seamless pipe manufacturing facility in Anjar by December this year, Bansal added.

This unit will have an annual production capacity of 7,000 metric tonnes.

"We are putting up a specialised forged seamless pipe plant also. The pipes produced out of that shall primarily be used for power sector...subsequently, once we get established, we shall be going in for subsea applications," the CMD said.

Dee Development Engineers Ltd reported a 125 per cent rise in consolidated profit to Rs 22.26 crore in the September quarter.

The company had posted a profit of Rs 9.88 crore in the year-ago period.

The income of the company during the July-September period rose to Rs 210 crore, over Rs 186.16 crore in the year-ago period.

The company specialises in providing process-piping solutions for industries such as oil and gas, chemicals, and other process industries.

The company offers engineering, procurement, and manufacturing services for products like high-pressure piping systems and pipe spools.

Some of its major clients include Larsen & Toubro, IOCL, BHEL and Thermax.