Dee Development Engineers Ltd Q3 FY25 Results

We acknowledge that the financial performance for the recent quarter has been weak, with Total Income decreasing by 24.1% YoY to 316,111 Lakhs. However, our order book remains strong, reaching %1,39,372 Lakhs as of December 31, 2024, compared to %1,19,213 Lakhs as of September 30, 2024. EBITDA has declined by 85.3% YoY to 2 477 Lakhs, resulting in an EBITDA margin of 3.0% for Q3 FY25, down from 15.3% in Q3 FY24. The company’s Profit After Tax for Q3 FY25 stood at 2 (1,333) Lakhs, reflecting a decline of 247.6% YoY. The weak performance this quarter can be attributed to the underutilization of capacity at our Palwal facility, which had been allocated for a significant order from one of India’s leading Oil & Gas companies. This 313,900 Lakhs project involves the establishment of India’s first Propane Dehydrogenation (PDH) Plant. As this is the first project of its kind in the country, there has been a six-month delay in obtaining drawings and material approvals, impacting the overall execution timeline. While the order was awarded in October 2023, it was initially expected to be completed by March 31, 2025. Additionally, another international order, valued over 25,100 Lakhs, faced a delay due to late revisions in material specifications by the customer, resulting in execution being pushed to Q4’FY25 instead of Q3’FY25.