DEE Development Engineers Secures INR 58 Crore Contracts for Anjar Seamless Pipe Plant 

DEE Development Engineers Limited disclosed under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 that it had secured its first-ever supply contracts for seamless pipes; the trigger was a Letter of Intent issued by a domestic joint venture customer.

The filing, addressed to both BSE Limited (Scrip Code: 544198) and National Stock Exchange of India Limited (Symbol: DEEDEV), references compliance with SEBI Master Circular no. SEBI/HO/CFD/PoD2/CIR/P/0155 dated November 11 2024 and earlier Circular SEBI/HO/CFD/CFD-PoD-1/P-CIR/2023/123 dated July 13 2023.

Letter Of Intent Marks Entry Into Seamless Pipe Manufacturing

The company stated that the contracts relate to the manufacturing of alloy steel seamless pipes at its newly established forged seamless pipe plant in Anjar, Gujarat. This constitutes the first commercial order for the facility.

According to Annexure I of the disclosure, the aggregate contract value stands at INR 58 crore. Execution is scheduled through December 2026.

The customer has been described as a joint venture between an Indian entity and a foreign power-sector conglomerate. The name has not been disclosed, citing commercial sensitivity. The order has been classified as domestic in nature.

The filing further clarifies that neither the promoter nor the promoter group has any interest in the awarding entity, and the transaction does not fall within the definition of a related party transaction. It has been undertaken on an arm’s length basis.

Technical note: A Letter of Intent (LoI) indicates the awarding party’s intention to place an order subject to definitive documentation. While commercially persuasive, it does not always constitute a fully executed contract unless conditions precedent are satisfied.

Share Market Snapshot

Share price of DEE Development Engineers were trading at INR 298.86, down 5.09 points or 1.67% on the day, as of 10:01 IST on February 27 2026.

The stock opened at INR 294.03 and moved within an range of INR 292.65 to INR 308.00 so far. The previous close stood at INR 303.95.

At the prevailing price, the company’s market capitalisation was approximately INR 2,070 crore, with a reported price-to-earnings ratio of 25.71. The 52-week range spans INR 183.00 to INR 336.20.

Company Background

DEE Development Engineers operates in the engineering fabrication segment, supplying process piping solutions and related infrastructure components. The addition of a forged seamless pipe facility at Anjar represents a backward integration step, potentially expanding margin capture across the value chain.

The seamless pipe segment typically serves sectors including oil and gas, power generation and heavy process industries, where alloy steel specifications and high-pressure tolerance standards are contractually prescribed.

Conclusion

The INR 58 crore order marks the first commercial validation of DEE Development Engineers’ Anjar seamless pipe plant under formal exchange disclosure. Execution through December 2026 will determine revenue recognition cadence.

Market reaction, at least in the opening hour, remained negative despite the announcement though movements may reflect broader market conditions rather than event-specific repricing.

Source:

https://www.bseindia.com/xml-data/corpfiling/AttachLive/c11b7160-a566-4cf2-abde-7d1b77de7919.pdf