Mumbai, 14th November 2024: DEE Development Engineers Limited (herein referred to as “DDEL”), one of the most trusted names in the Process Piping Solutions, announced its Q2 FY25 & H1 FY25 results today. The Board of Directors of DDEL at its meeting held on 11th November 2024 took on record the Unaudited Financial Results for the second quarter and first half of the Financial Year 2024-25.
Financial Summary | Q2 FY25 | Q2 FY24 | YoY% | Q1 FY25 | QoQ% | H1 FY25 | H1 FY24 | YoY% | FY24 |
Total Income | 21,000 | 18,617 | 12.8% | 18,817 | 11.6% | 39,818 | 34,562 | 15.2% | 80,685 |
EBITDA | 4,578 | 3,151 | 45.3% | 2,799 | 63.5% | 7,377 | 4,770 | 54.7% | 12,060 |
EBITDA Margin | 21.8% | 16.9% | 487 bps | 14.9% | 692 bps | 18.5% | 13.8% | 473 bps | 14.9% |
PAT | 2,226 | 989 | 125.2% | 319 | 598.8% | 2,545 | 531 | 379.4% | 2,621 |
PAT Margin | 10.6% | 5.3% | 529 bps | 1.7% | 891 bps | 6.4% | 1.5% | 486 bps | 3.2% |
Diluted EPS (?) | 3.60 | 1.86 | 93.1% | 0.60 | 499.6% | 4.11 | 1.00 | 310.4% | 4.92 |
Commenting on the results, Mr. Krishan Lalit Bansal, Chairman, DEE Development Engineers Limited said:
“We are pleased to report that the company demonstrated robust growth in the quarter gone by, with Total Income increasing by 11.6% QoQ & 12.8% YoY to ? 21,000 Lakhs and by 15.2% YoY in H1 FY25, reaching ? 39,818 Lakhs. The order book as on 30th September 2024 stood at ? 1,19,213 Lakhs as against ? 80,009 Lakhs as on 30th June 2024.
EBITDA surged significantly, with a 63.5% QoQ & 45.3% YoY growth to ? 4,578 Lakhs, and 54.7% YoY increase in H1 FY25 to ?
7,377 Lakhs . EBITDA Margin was at 21.8% for Q2 FY25 and 18.5% for H1 FY25.
The company’s PAT reached ? 2,226 Lakhs in Q2 FY25, growing at 598.8% QoQ & 125.2% YoY, with a PAT Margin of 10.6%. For H1 FY25, PAT increased by 379.4% YoY to ? 2,545 Lakhs, with a PAT Margin of 6.4%.
Our company remains steadfast in its dedication to automation and expanding capacity. We are currently setting up the New Anjar Facility II, which will scale our production capacity from 6,000 MT to 15,000 MT, increasing our total capacity to 1,12,500 MT. This facility will be commissioned by the end of Q3 FY25 and will play a pivotal role in reducing logistics costs, enhancing production efficiency, and lowering manpower cost.
New Anjar Facility II is purpose-built to handle orders for the Oil and Gas sector, allowing our Palwal Facility to focus exclusively on the Power sector. This strategic allocation of operations will streamline logistics and optimize our supply chain, leveraging Anjar’s proximity to the Kandla Port in Gujarat.
We are actively strengthening our infrastructure and capabilities to support the increasing capital expenditure in the Power and Oil & Gas sectors, positioning ourselves to meet the rising demand in these key industries. As part of this strategy, we have obtained approval from our Board of Directors to establish a plant for manufacturing seamless pipes, with an annual capacity of 7,000 tonnes, involving a capital expenditure of ?9,000 Lakhs. This plant will manufacture forged seamless pipes of thicknesses up to 120 mm, using high-alloy steel and stainless steel (SS) grades. The pipes will be used in critical applications such as thermal power plants of more than 660 MW and subsea projects, where the requirement for high-quality, durable materials is critical.
Thank you again for your continued trust. We look forward to this journey together.”