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πŸ› οΈ DEE Development Engineers Ltd – “Pipe Dreams or Piping Profits?”

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πŸ§ͺ Business Model (WTF Do They Even Do?)

DEEDEL fabricates complex piping systems, pressure vessels, and heat exchangers for industries like oil & gas, power, and chemicals. Basically, they manufacture the arteries of the industrial world β€” except made of stainless steel, not cholesterol.

They also specialize in:

  • Boiler superheaters & desuperheaters
  • High-pressure spools
  • Skids, stacks, and exotic alloys like Inconel, Hastelloy etc.
  • Green hydrogen infra (just dropped a partnership in June 2025 πŸ‘€)

πŸ’Έ Financial Highlights (FY25)

MetricFY24FY25
Revenueβ‚Ή789 Crβ‚Ή827 Cr
EBITDAβ‚Ή109 Crβ‚Ή124 Cr
Net Profitβ‚Ή26 Crβ‚Ή44 Cr
EPSβ‚Ή4.94β‚Ή6.32
ROE5.5%6.97%
ROCE10%8.89%
  • πŸ“ˆ 5Y Profit CAGR: 26%
  • πŸ”§ OPM consistently improving, now at 15%
  • 🚫 Dividend: None. They’re hoarding.

πŸ“Š Valuation – Is It Cheap, Meh, or Crack?

  • CMP: β‚Ή319
  • P/E: 50.5x β€” Yikes! Even
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