DEE Development Engineers, on August 2, announced that it has bagged two international orders worth Rs 14 crore from Mitsubishi Heavy Industries, Japan and GE Vernova International.
Both orders are related to the supply of pre-fabricated carbon and stainless-steel piping components, the company said in a regulatory filing.
While Mitsubishi's order is expected to be fulfilled within 10 months, the other will likely be completed in 7 months. The GE Vernova International order is worth $473,249. The total value of Mitsubishi's order is $12,79,995.
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This is the company's second recent order win, following an announcement on July 19 that it had secured a Rs 6.33 crore purchase order from Bharat Heavy Electricals (BHEL). The contract involves supplying 26.2 MT of turbine integral piping (P-92), with execution scheduled from June to August 2025.
The company is relatively new on the bourses after it made its stock market debut on June 26. The company made a positive start on its stock market debut on the bourses, listing at Rs 339, a premium of 67 percent over the issue price of Rs 203.
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DEE is an engineering firm offering specialized process piping solutions for industries like oil and gas, power (including nuclear), chemicals, and other process sectors. The company provides services in engineering, procurement, and manufacturing.
Shares of the company closed at Rs 358, down over a percent from the previous close on the NSE. DEE Development shares have gained 8 percent in the past month.
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