DEE Development Engineers Ltd (NSE:DEEDEV)

Q1 2027 DEE Development Engineers Ltd Earnings Call Transcript

Aug 6, 2026 / 08:30 AM GMT

Release Date Price: ₹651.65 (-2.14%)

Transcript

Key Points

Positve

Revenue from operations for Q1 FY27 grew 31.6% year-on-year to Rs 294.5 crore, driven by strong execution in the piping segment.
Operating EBITDA margin improved to 16.9% in Q1 FY27 from 16% in Q1 FY26, supported by better capacity utilization and operating leverage.
Received a significant domestic purchase order of Rs 386.82 crore from Bharat Petroleum Corporation Limited, one of the largest single orders in recent history.
The Thailand facility is practically 100% booked for the next three years, with a target to increase revenue to Rs 170-200 crore.
The Rs 300 crore preferential issue was allotted, with proceeds used to repay debt, expected to reduce net debt to Rs 400-425 crore by FY27 end and improve return ratios.
The newly commissioned biomass pellet plant is expected to contribute to revenue, with a target of Rs 80 crore from the non-core segment in FY27.
Management remains confident in achieving FY27 revenue guidance of Rs 1,500 crore plus and an EBITDA margin of over 19%.
Strong order book of Rs 2,408 crore as of June 30, 2026, providing good revenue visibility.
Siemens has signed a memorandum of understanding to provide continuous GT piping business starting next year, with 10 units in the first year.
The seamless pipe plant is expected to contribute to margin improvement as utilization ramps up, with a target of 50% captive consumption and 50% outside sales.

Negative

Around Rs 25 crore of dispatches scheduled for Q1 were pushed to Q2 due to deferrals by export customers in the Middle East.
The HRSG order from GE is delayed, although an agreement for 15-16 units exists, which may impact future order inflows.
The EBIT of the power plant division turned negative again in Q1 FY27, partly due to the focus on ramping up the new pellet plant.
Gross margins are expected to be lower due to a higher proportion of material-intensive power sector jobs, though EBITDA margins are guided to remain above 19%.
Working capital cycle remains elevated at 263 days, with debtor days increasing to 123, though management is working to reduce this.
The pace of order inflows from BHEL for domestic power projects has been slower than expected, though other customers are filling the gap.
The company has not yet received any direct inquiries from the Gulf region for reconstruction work, with potential orders expected only through OEMs.
The Anjar facility is currently operating at only around 50% capacity utilization, with a target to reach 100% only by FY28-29.
The tax rate is expected to fluctuate between 20-21% on a consolidated basis, which may create variability in quarterly net profit.
The company missed a fertilizer-related opportunity as a foreign customer awarded the work to a local player in their country.

Refinitiv StreetEvents Event Transcript
E D I T E D V E R S I O N

DEEV.NS - DEE Development Engineers Ltd
Q1 2027 DEE Development Engineers Ltd Earnings Call
Aug 06, 2026 / 08:30AM GMT

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Presentation
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Unidentified_1 [1]
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Good day and a very warm welcome to the Q1F527 Earnings Conference Call of D Development Engineers Limited. From the senior management, we have with us today Mr. Krishan Lalit Bansal, Promoter Chairman and Managing Director and Mr. Brahm Yadav, Chief Financial Officer. As a reminder, all participant lines will be in the listen-only mode and there will be an opportunity for you to ask questions after the presentation concludes. Should you need assistance during this conference call, please signal an operator by pressing *0 on your touchtone phone. Please note that this conference is being recorded.

I now hand the conference over to Mr. Anand Venukopal from AdStarPress PR.

Thank you and over to you,

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