Dee Development Engineers Ltd (DEEDEV) Stock Analysis: Valuation, Latest Results, Financial Ratios & DeciZen Rating

BSE: 544198 | NSE: DEEDEV | Engineering - Industrial Equipments | Small Cap

Dee Development Eng. Share Price

210.70 8.70 4.31%
as on 05-Dec'25 12:12

Dee Development Engineers Ltd (DEEDEV) Stock Analysis: Valuation, Latest Results, Financial Ratios & DeciZen Rating

BSE: 544198 | NSE: DEEDEV | Engineering - Industrial Equipments | Small Cap

DeciZen - make an informed investing decision on Dee Development Eng.

Based on:

Overall Rating
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1. Quality


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2. Valuation


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3. Price Trend


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Dee Development Engineers stock performance -

Key Ratios
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P/E Ratio (SA):
38.56
Market Cap:
1,399.1 Cr.
52-wk low:
166.6
52-wk high:
360.3

Is Dee Development Engineers Ltd an attractive stock to invest in?


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10 Year X-Ray of Dee Development Eng.: Login to view analysis.

Analysis of Financial Track Record

Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end
Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end

Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end.

Financial track record gives insight into the company's performance on key parameters over the past ten years. MoneyWorks4me’s proprietary colour codes make it easy for retail investors to gauge the company’s past performance.
Dee Development Engineers Ltd has not performed well majority of the past ten years indicating its past ten year financial track record is not good

Value Creation

Value Creation Index Colour Code Guide

Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25TTM
ROCE % 13.1%9.3%8.8%10.9%10.9%6.4%5.6%7.7%8.3%7.1%-
Value Creation
Index
-0.1-0.3-0.4-0.2-0.2-0.5-0.6-0.5-0.4-0.5-

Growth Parameters

Growth Parameters Colour Code Guide

Sales 650473513519620411370503644639731
Sales YoY Gr.--27.2%8.5%1.2%19.3%-33.6%-10%35.7%28.2%-0.9%-
Adj EPS 3.31.634.13.12.61.52.43.12.95.2
YoY Gr.--50.6%80.5%37.5%-22.9%-17.5%-41.3%57.2%31.4%-8%-
BVPS (₹) 47.950.352.856.860.1638689.493118.5122.2
Adj Net
Profit
2612.923.331.924.620.38.112.716.619.936
Cash Flow from Ops. 96.3100-37.413371.668.855.620.684-96-
Debt/CF from Ops. 2.92.2-7.91.82.92.53.813.14.3-3.6-

CAGR

CAGR Colour Code Guide

9 Years 5 Years 3 Years 1 Years
Sales -0.2%0.6%19.9%-0.9%
Adj EPS -1.5%-1.7%23.9%-8%
BVPS10.6%14.5%11.3%27.4%
Share Price - - - -37.5%

Key Financial Parameters

Performance Ratio Colour Code Guide

Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25TTM
Return on
Equity %
8.63.35.87.45.44.21.72.73.434.4
Op. Profit
Mgn %
14.810.714.214.612.511.911.311.111.914.115.6
Net Profit
Mgn %
42.74.56.244.92.22.52.63.15
Debt to
Equity
0.70.60.70.50.40.30.50.60.70.40.1
Working Cap
Days
275359395448338454478377352460185
Cash Conv.
Cycle
16020923927421126926620218526545

Recent Performance Summary

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Latest Financials - Dee Development Engineers Ltd

Standalone Consolidated
TTM EPS (₹) 5.2 7.1
TTM Sales (₹ Cr.) 731 942
BVPS (₹.) 122.2 120.9
Reserves (₹ Cr.) 777 768
P/BV 1.65 1.67
PE 38.56 28.41
From the Market
52 Week Low / High (₹) 166.60 / 360.30
All Time Low / High (₹) 166.60 / 400.00
Market Cap (₹ Cr.) 1,399
Equity (₹ Cr.) 69.3
Face Value (₹) 10
Industry PE 50.6

Management X-Ray of Dee Development Eng.:

Shareholding Pattern

Promoter's Holding & Share Pledging

Pledged *0.000.000.000.000.000.00
* Pledged shares as % of Promoter's holding (%)

Valuation of Dee Development Eng. - Standalone Basis

YTD 1Y 3Y 5Y 10Y Max
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YTD 1Y 3Y 5Y 10Y Max
mw4me loader

YTD 1Y 3Y 5Y 10Y Max
mw4me loader

YTD 1Y 3Y 5Y 10Y Max
mw4me loader

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Event Update

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Analyst's Notes

data not found
No data found!

Key Ratios of Dee Development Eng.

Adj EPS (Rs.)

Sales (Cr.)

ROE (%)

ROCE (%)

Profit And Loss

(All Figures are in Crores.)
PARTICULARSMar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25
Sales649473513519620411370503644639
Operating Expenses 554423441444543363329447568549
Manufacturing Costs86774251816581126158117
Material Costs350253276272369216162186255264
Employee Cost 3751495459505882100116
Other Costs 81417467333128545452
Operating Profit 96517375764942567690
Operating Profit Margin (%) 14.8%10.7%14.1%14.5%12.3%11.9%11.2%11.1%11.9%14.1%
Other Income 8272319181618232116
Interest 43282829342222294040
Depreciation 19191919212222243134
Exceptional Items 00-190000000
Profit Before Tax 42313147402116262632
Tax 1612121512-13769
Profit After Tax 26191932282212192023
PAT Margin (%) 4.0%3.9%3.8%6.1%4.4%5.4%3.3%3.7%3.1%3.7%
Adjusted EPS (₹)3.32.42.54.03.52.82.33.53.73.4
Dividend Payout Ratio (%)0%0%0%2%0%0%0%0%0%0%

Balance Sheet

(All Figures are in Crores.)
PARTICULARSMar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25

Equity and Liabilities

Shareholders Fund 376395414446472494456474493818
Share Capital 16161616161611115369
Reserves 360379398430456479446464440749
Minority Interest0000000000
Debt251200277229199158203259338322
Long Term Debt39231098816225659
Short Term Debt212177267221191150187237282264
Trade Payables99568194616684113200223
Others Liabilities 727916114987504762116161
Total Liabilities 7987309349188197687909081,1471,524

Fixed Assets

Gross Block313259270280301310330384458495
Accumulated Depreciation761937557595117136167194
Net Fixed Assets 237240232225226215214248291301
CWIP 1118214364148
Investments 153140565757686868110
Inventories184142237256225166211249341512
Trade Receivables215190278229178181128137153203
Cash Equivalents 5620150425313246
Others Assets 91124145128131143141172198204
Total Assets 7987309349188197687909081,1471,524

Cash Flow

(All Figures are in Crores.)
PARTICULARSMar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25
Cash Flow From Operating Activity 96100-371337269562184-96
PBT 42313147402116262632
Adjustment 54306834413133295060
Changes in Working Capital -049-1116862412-2916-180
Tax Paid 0-10-8-16-16-6-5-5-8-9
Cash Flow From Investing Activity -2-23-15-38-26-10-32-52-140-149
Capex -13-16-55-34-16-9-24-49-129-152
Net Investments 00-1081-5-4-13-4
Others 11-740-4-19-2-4126
Cash Flow From Financing Activity -60-7751-82-60-55-273256250
Net Proceeds from Shares 000000000302
Net Proceeds from Borrowing 00000067436
Interest Paid 0-24-23-23-27-20-19-24-33-35
Dividend Paid 0000000000
Others -60-5374-59-33-36-144946-23
Net Cash Flow 34-0-114-143-4005

Finance Ratio

PARTICULARSMar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25
Ratios
ROE (%)8.714.824.797.386.014.582.593.994.13.56
ROCE (%)13.089.328.8210.9110.876.415.597.698.37.08
Asset Turnover Ratio0.80.630.620.560.710.520.480.590.630.48
PAT to CFO Conversion(x)3.695.26-1.954.162.573.144.671.114.2-4.17
Working Capital Days
Receivable Days1041541661781201591529682102
Inventory Days125124134173142174186167166244
Payable Days1061129111776103152142137169

Dee Development Engineers Ltd Stock News

Dee Development Engineers Ltd FAQs

The current trading price of Dee Development Eng. on 05-Dec-2025 12:12 is ₹210.7.
Market capitalization or market cap is determined by multiplying the current market price of a company's shares with the total number of shares outstanding. As of 04-Dec-2025 the market cap of Dee Development Eng. stood at ₹1,399.1.
The latest P/E ratio of Dee Development Eng. as of 04-Dec-2025 is 38.56.
The latest P/B ratio of Dee Development Eng. as of 04-Dec-2025 is 1.65.
The 52-week high of Dee Development Eng. is ₹360.3 and the 52-week low is ₹166.6.
The TTM revenue is Trailing Twelve Months sales. The TTM revenue/sales of Dee Development Eng. is ₹731.2 ( Cr.) .

About Dee Development Engineers Ltd

The company was originally incorporated as ‘DE Development Engineers Private Limited’ a private limited company under the Companies Act, 1956 through a certificate of incorporation dated March 21, 1988, issued by the RoC. Thereafter, the name of the Company was changed to ‘DEE Development Engineers Private Limited’ pursuant to a Board resolution dated September 28, 1997 and a special resolution passed in the general meeting of the Shareholders held on October 22, 1997 and consequently a fresh certificate of incorporation dated January 8, 1998 was issued by the RoC to reflect the change in name. Pursuant to an amendment to the Companies Act, 1956, the company was deemed public under Section 43A (1A) of the Companies Act, 1956 with effect from July 1, 1998. Consequently, the word ‘Private’ was deleted from the name of the Company and the name was changed to ‘DEE Development Engineers Limited’ pursuant to a Board resolution dated June 1, 1998. Thereafter, the Company was converted into a private limited company pursuant to an amendment to Section 43A (1A) in Companies Act, 1956 by Section 43A (2A) of the Companies Amendment Act, 2000 with effect from July 16, 2004 and the name was changed to ‘DEE Development Engineers Private Limited’ pursuant to a Board resolution dated July 16, 2004. The name of the Company was changed to ‘DEE Development Engineers Limited’ upon conversion to a public limited company pursuant to a Board resolution dated December 29, 2009 and a resolution passed in the extra-ordinary general meeting of the Shareholders held on January 18, 2010 and consequently a fresh certificate of incorporation dated March 11, 2010, was issued by the RoC.

The company is an engineering company providing specialized process piping solutions for industries such as oil and gas, power (including nuclear), chemicals and other process industries through engineering, procurement and manufacturing. It has manufacturing experience of over three and a half decades and has been able to leverage its brand, strategically located manufacturing facilities and engineering capabilities to successfully expand its business. As part of its specialized process piping solutions, it also manufactures and supply piping products such as high-pressure piping systems, piping spools, high frequency induction pipe bends, Longitudinally Submerged Arc Welding pipes, industrial pipe fittings, pressure vessels, industrial stacks, modular skids and accessories including, boiler superheater coils, de-super heaters and other customized manufactured components. The company currently is ranked as one of the leading process pipe solution providers in the world, in terms of technical capability to address complex process piping requirement arising from multiple industrial segments. The company has seven strategically located Manufacturing Facilities at Palwal in Haryana, Anjar in Gujarat, Barmer in Rajasthan. Numaligarh in Assam and Bangkok in Thailand, with three Manufacturing Facilities located at Palwal, Haryana. It also operates a temporary Manufacturing Facility in Barmer, Rajasthan which is a dedicated facility set up to cater to the piping and erection requirements of the HPCL Rajasthan Refinery (the Barmer Satellite Facility).

Business area of the company

The company provides comprehensive specialized process piping solutions including engineering services such as pre bid engineering, basic engineering, detailed engineering and support engineering which includes engineering of process/ power piping systems for projects, and pre-fabrication services such as cutting and beveling on conventional and CNC machines, welding services on semi-automatic and fully automatic robotic welding machines, conventional and digital radiography, post weld heat treatment using CNG fired fully calibrated furnaces and induction heating process, hydro testing, pickling and passivation, grit blasting (manual and semiautomatic) and painting (manual and semiautomatic). It also specializes in handling complex metals such as varying grades of carbon steel, stainless steel, super duplex stainless steel, alloy steel and other materials including inconel and hastelloy in its manufacturing processes. 

Key awards, accreditations, certifications and recognitions

  • 2007: Certificate of appreciation in recognition of invaluable contribution to the success of Thermax, by Thermax.
  • 2013: Construction Industry Development Council (CIDC) Vishwakarma Award 2013 for Best Professionally Managed Company (Turnover Rs 100-500 crore) by CIDC.
  • 2014: Pressure Equipment Directive 2014/68/EU (“PED”) Quality Assurance certificate meeting the requirement of Module H of the PED for design, manufacture, final product inspection and testing of piping systems issued to Unit II, Palwal Facility by Hartford Steam Boiler Ireland Limited.
  • 2018: Star Performer Award for the year 2016-17 in the product group – Miscellaneous general purpose machinery (Large Enterprise) by National Award for Export Excellence, EEPC India.
  • 2020: ISO 9001:2015 certificate for design and manufacture of pressure vessels and manufacture of pipe fittings and piping systems to National/International standards and customer specifications issued to Palwal Facility, Bangkok Facility, Anjar Facility I and Barmer Facility.
  • 2020: ISO 14001:2015 certificate for design and manufacture of pressure vessels and manufacture of pipe fittings and piping systems to National/International standards and customer specifications issued to Palwal Facility, Bangkok Facility, Anjar Facility I and Barmer.
  • 2021: Certificate of authorisation from the American Society of Mechanical Engineers for the (i) manufacture and assembly of power boilers and (ii) fabrication and assembly of pressure piping issued to Unit I, Palwal Facility.
  • 2022: Certificate of authorisation from the American Society of Mechanical Engineers for the (i) manufacture and assembly of power boilers, (ii) manufacture of Class I and Class 2 pressure vessels and (iii) fabrication and assembly of pressure piping issued to Unit II, Palwal Facility.
  • 2022: Certificate on DIN EN ISO 3834-2 issued to the Anjar Heavy Fabrication Facility.
  • 2022: Certification authorization to register the ‘NB’ symbol issued to the Thailand Facility by the National Board of Boiler and Pressure Vessel Inspectors.
  • 2023: ISO 9001:2015 certificate for manufacture of wind turbine towers, heavy fabricated structures for power plant and infrastructure projects issued to Anjar Heavy Fabrication Facility.
  • 2023: ISO 14001:2015 certificate for manufacture of wind turbine towers, heavy fabricated structures for power plant and infrastructure projects issued to Anjar Heavy Fabrication Facility.
  • 2023: ISO 45001:2018 certificate for manufacture and supply of wind turbine towers, heavy fabricated structures for power plant and infrastructure projects issued to Anjar Heavy Fabrication Facility.
  • 2023: Certificate of authorization for fabrication and assembly of pressure piping issued to the Bangkok Facility by the American Society of Mechanical Engineers.
  • 2023: Certification authorization to register the ‘R’ symbol issued to the Thailand Facility by the National Board of Boiler and Pressure Vessel Inspectors.
  • 2024: Pressure Equipment Directive 2014/68/EU (PED) Quality Assurance certificate for manufacture and supply of forged, seamless and welded fittings issued to the Palwal Facility I and Palwal Facility II by TUV Nord Systems GmbH & Co.
  • 2024: Certificate on DIN EN ISO 3834-2 issued to the Palwal Facility.

Major events and milestones

  • 2006: Established Unit I, Palwal Facility for manufacturing of other fabricated metal products along with the processing/re-rolling of metal scraps.
  • 2010: Established Unit II, Palwal Facility for manufacturing of other fabricated metal products and the processing/re-rolling of metal scraps.
  • 2013: Established Unit III, Palwal Facility for manufacturing of other fabricated metal products and the processing/re-rolling of metal scraps.
  • 2013: Commenced receiving orders for production of HP piping from a client for a power project at Solapur.
  • 2014: Commenced receiving orders for production of HP piping from a client for a power project at Meja.
  • 2017: Commenced business operations at Bangkok Facility, through its subsidiary DEE Piping Systems (Thailand) Co., Limited.
  • 2017: Commenced supply of piping material for a petroleum refinery and polypropylene plant in Nigeria.
  • 2020: Commenced business operations at Anjar Heavy Fabrication Facility in Gujarat, through subsidiary DEE Fabricom India Private Limited, to manufacture wind turbine towers.
  • 2022: Commenced business operations at Anjar Facility I in Gujarat to manufacture fabricated metal products.
  • 2022: Commenced business operations at the Barmer Facility in Rajasthan for manufacture of fabricated metal products.
  • 2024: Commenced business operations at the Numaligarh Facility in Assam to manufacture piping spools and pipe supports.


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