Q4 2026 DEE Development Engineers Ltd Earnings Call Transcript
Key Points
- DEE Development Engineers Ltd (NSE:DEEDEV) reported a strong year with a 64.2% year-on-year increase in core business EBITDA, reaching INR210.5 crore.
- The company completed significant growth CapEx, including the operationalization of the Anjar Pipe Fabrication Facility and commissioning of the seamless pipe plant.
- The order book stands at INR1,940 crore, providing strong revenue visibility and a healthy project pipeline across key segments.
- The company is strategically pivoting towards biomass pellet manufacturing, enhancing capital efficiency and building a more sustainable business model.
- The seamless pipe plant's backward integration is expected to strengthen capabilities, improve supply security, support margins, and reduce lead times.
- The noncore power segment continues to reflect losses at the consolidated level, impacting overall financial performance.
- Gross margins have declined on a quarterly and full-year basis, partly due to commodity inflation and product mix changes.
- The company faces challenges in managing working capital, with a target to reduce the cycle to 180 days, down from the current 200 days.
- There is uncertainty regarding the resolution of the Malwa power tariff issue, which has resulted in a qualified audit opinion for the second year.
- BHEL's slow movement on order releases poses a risk to the timely execution of domestic thermal projects.
Good evening, ladies and gentlemen, and a very warm welcome to the Q4 and FY 2026 earnings conference call of DEE Development Engineers Limited. From the senior management team, we have with us today Mr. Krishan Lalit Bansal, Promoter, Chairman and Managing Director; Mr. Pankaj Agarwal, Chief Operating Officer; and Mr. Brham Yadav, Chief Financial Officer.
(Operator Instructions) Please note that this conference is being recorded.
I now hand the conference over to Mr. Anand Venugopal from Adfactors PR. Thank you, and over to you, sir.
Thank you, Nirav. Good evening, everyone. We welcome you to the Q4 and FY 2026 earnings call of DEE Development Engineers Limited. Before we begin the earnings call, I would like to mention that some of the statements made in today's call might be forward-looking in nature, and hence, it may involve risks and uncertainties, including those related to the future financial and operating performance. Please bear with us if there is a call drop during the course of the
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