Integrated Filing — IndAS



General information about company
Scrip Code 544198
NSE Symbol DEEDEV
MSEI Symbol NOTLISTED
ISIN INE841L01016
Name of company DEE Development Engineers Limited
Type of company Main Board
Class of security Equity
Date of start of financial year 01-Apr-2024
Date of end of financial year 31-Mar-2025
Date of board meeting when results were approved 29-May-2025
Date on which prior intimation of the meeting for considering financial results was informed to the exchange 20-May-2025
Description of presentation currency INR (in Actuals)
Reporting Type Quarterly
Reporting Quarter Fourth quarter
Nature of report standalone or consolidated Consolidated
Whether results are audited or unaudited for the quarter ended Audited
Whether results are audited or unaudited for the Year to date for current period ended/year ended Audited
Segment Reporting Multi segment
Description of single segment
Start date and time of board meeting 29-May-2025   11:00:00
End date and time of board meeting 29-May-2025   14:00:00
Whether cash flow statement is applicable on company Yes
Type of cash flow statement Cash Flow Indirect
Declaration of unmodified opinion or statement on impact of audit qualification Statement on impact of audit qualification



Financial Results Ind-AS
Particulars 3 months/ 6 months ended (dd-mm-yyyy) Year to date figures for current period ended (dd-mm-yyyy)
A Date of start of reporting period 01-Jan-2025 01-Apr-2024
B Date of end of reporting period 31-Mar-2025 31-Mar-2025
C Whether results are audited or unaudited Audited Audited
D Nature of report standalone or consolidated Consolidated Consolidated
Part I Blue color marked fields are non-mandatory. For Consolidated Results, if the company has no figures for 3 months / 6 months ended, in such case zero shall be inserted in the said column.
1 Income
Revenue from operations 2863686000 8273622000
Other income 26022000 208970000
Total income 2889708000 8482592000
2 Expenses
(a) Cost of materials consumed 844676000 2966675000
(b) Purchases of stock-in-trade 0 0
(c) Changes in inventories of finished goods, work-in-progress and stock-in-trade 185296000 -73055000
(d) Employee benefit expense 480632000 1610093000
(e) Finance costs 118278000 399288000
(f) Depreciation, depletion and amortisation expense 119883000 493808000
(f) Other Expenses
1 Other expenses 717970000 2532277000
Total other expenses 717970000 2532277000
Total expenses 2466735000 7929086000
3 Total profit before exceptional items and tax 422973000 553506000
4 Exceptional items 0 0
5 Total profit before tax 422973000 553506000
6 Tax expense
7 Current tax 96606000 108868000
8 Deferred tax 11272000 8307000
9 Total tax expenses 107878000 117175000
10 Net movement in regulatory deferral account balances related to profit or loss and the related deferred tax movement 0 0
11 Net Profit Loss for the period from continuing operations 315095000 436331000
12 Profit (loss) from discontinued operations before tax 0 0
13 Tax expense of discontinued operations 0 0
14 Net profit (loss) from discontinued operation after tax 0 0
15 Share of profit (loss) of associates and joint ventures accounted for using equity method 0 0
16 Total profit (loss) for period 315095000 436331000
17 Other comprehensive income net of taxes 1449000 4467000
18 Total Comprehensive Income for the period 316544000 440798000
19 Total profit or loss, attributable to
Profit or loss, attributable to owners of parent
Total profit or loss, attributable to non-controlling interests
20 Total Comprehensive income for the period attributable to
Comprehensive income for the period attributable to owners of parent
Total comprehensive income for the period attributable to owners of parent non-controlling interests
21 Details of equity share capital
Paid-up equity share capital 690541000 690541000
Face value of equity share capital 10 10
27 Details of debt securities
22 Reserves excluding revaluation reserve 7315183000
23 Earnings per share
i Earnings per equity share for continuing operations
Basic earnings (loss) per share from continuing operations 4.56 6.68
Diluted earnings (loss) per share from continuing operations 4.54 6.65
ii Earnings per equity share for discontinued operations
Basic earnings (loss) per share from discontinued operations 0 0
Diluted earnings (loss) per share from discontinued operations 0 0
ii Earnings per equity share
Basic earnings (loss) per share from continuing and discontinued operations 4.56 6.68
Diluted earnings (loss) per share from continuing and discontinued operations 4.54 6.65
24 Debt equity ratio
25 Debt service coverage ratio
26 Interest service coverage ratio
27 Disclosure of notes on financial results



Remarks
Debt equity ratio
Debt service coverage ratio
Interest service coverage ratio


Statement of Asset and Liabilities
Particulars Year ended (dd-mm-yyyy)
Date of start of reporting period 01-Apr-2024
Date of end of reporting period 31-Mar-2025
Whether results are audited or unaudited Audited
Nature of report standalone or consolidated Consolidated
Assets
1 Non-current assets
Property, plant and equipment 3968240000
Capital work-in-progress 1481355000
Investment property 0
Goodwill 27118000
Other intangible assets 27404000
Intangible assets under development 0
Biological assets other than bearer plants 0
Investments accounted for using equity method 0
Non-current financial assets
Non-current investments 195730000
Trade receivables, non-current 0
Loans, non-current 0
Other non-current financial assets 57012000
Total non-current financial assets 252742000
Deferred tax assets (net) 0
Other non-current assets 438892000
Total non-current assets 6195751000
2 Current assets
Inventories 5849646000
Current financial asset
Current investments 0
Trade receivables, current 2481567000
Cash and cash equivalents 58904000
Bank balance other than cash and cash equivalents 416660000
Loans, current 0
Other current financial assets 115555000
Total current financial assets 3072686000
Current tax assets (net) 0
Other current assets 816908000
Total current assets 9739240000
3 Non-current assets classified as held for sale 0
4 Regulatory deferral account debit balances and related deferred tax Assets 0
Total assets 15934991000
Equity and liabilities
1 Equity
Equity attributable to owners of parent
Equity share capital 690541000
Other equity 7315183000
Total equity attributable to owners of parent 8005724000
Non controlling interest 0
Total equity 8005724000
2 Liabilities
Non-current liabilities
Non-current financial liabilities
Borrowings, non-current 709325000
Trade payables, non-current
(A) Total outstanding dues of micro enterprises and small enterprises 0
(B) Total outstanding dues of creditors other than micro enterprises and small enterprises 0
Total Trade payable 0
Other non-current financial liabilities 166443000
Total non-current financial liabilities 875768000
Provisions, non-current 2933000
Deferred tax liabilities (net) 178531000
Deferred government grants, Non-current 0
Other non-current liabilities 0
Total non-current liabilities 1057232000
Current liabilities
Current financial liabilities
Borrowings, current 3380636000
Trade payables, current
(A) Total outstanding dues of micro enterprises and small enterprises 50127000
(B) Total outstanding dues of creditors other than micro enterprises and small enterprises 2430522000
Total Trade payable 2480649000
Other current financial liabilities 99756000
Total current financial liabilities 5961041000
Other current liabilities 814158000
Provisions, current 69964000
Current tax liabilities (Net) 26872000
Deferred government grants, Current 0
Total current liabilities 6872035000
3 Liabilities directly associated with assets in disposal group classified as held for sale 0
4 Regulatory deferral account credit balances and related deferred tax liability 0
Total liabilities 7929267000
Total equity and liabilites 15934991000
Disclosure of notes on assets and liabilities



Format for Reporting Segmenet wise Revenue, Results and Capital Employed along with the company results
Particulars 3 months/ 6 month ended (dd-mm-yyyy) Year to date figures for current period ended (dd-mm-yyyy)
Date of start of reporting period 01-Jan-2025 01-Apr-2024
Date of end of reporting period 31-Mar-2025 31-Mar-2025
Whether accounts are audited or unaudited Audited Audited
Nature of report standalone or consolidated Consolidated Consolidated
1 Segment Revenue (Income)
(net sale/income from each segment should be disclosed)
1 a) Piping division 2579789000 7024260000
2 b) Power division 202623000 838679000
3 c) Heavy fabrication 103544000 506405000
Total Segment Revenue 2885956000 8369344000
Less: Inter segment revenue 22270000 22270000
Revenue from operations 2863686000 8273622000
2 Segment Result
Profit (+) / Loss (-) before tax and interest from each segment
1 a) Piping division 520089000 781587000
2 b) Power division 27023000 141903000
3 c) Heavy fabrication 1305000 94156000
Total Profit before tax 548417000 1017646000
i. Finance cost 108222000 108222000
ii. Other Unallocable Expenditure net off Unallocable income 17222000 17222000
Profit before tax 422973000 553506000
3 (Segment Asset - Segment Liabilities)
Segment Asset
1 a) Piping division 14495848000 14495848000
2 b) Power division 1004874000 1004874000
3 c) Heavy fabrication 379391000 379391000
Total Segment Asset 15880113000 15880113000
Un-allocable Assets 54878000 54878000
Net Segment Asset 15934991000 15934991000
4 Segment Liabilities
Segment Liabilities
1 a) Piping division 7227835000 7227835000
2 b) Power division 292623000 292623000
3 c) Heavy fabrication 184122000 184122000
Total Segment Liabilities 7704580000 7704580000
Un-allocable Liabilities 224687000 224687000
Net Segment Liabilities 7929267000 7929267000
Disclosure of notes on segments



Other Comprehensive Income
Particulars 3 months/ 6 months ended (dd-mm-yyyy) Year to date figures for current period ended (dd-mm-yyyy)
A Date of start of reporting period 01-Jan-2025 01-Apr-2024
B Date of end of reporting period 31-Mar-2025 31-Mar-2025
C Whether results are audited or unaudited Audited Audited
D Nature of report standalone or consolidated Consolidated Consolidated
Other comprehensive income [Abstract]
1 Amount of items that will not be reclassified to profit and loss
1 a) Remeasurement of the net defined benefit liability/asset, net 2138000 -4256000
Total Amount of items that will not be reclassified to profit and loss 2138000 -4256000
2 Income tax relating to items that will not be reclassified to profit or loss 471000 -1060000
3 Amount of items that will be reclassified to profit and loss
1 Exchange differences on translation of foreign operations -218000 7663000
Total Amount of items that will be reclassified to profit and loss -218000 7663000
4 Income tax relating to items that will be reclassified to profit or loss 0 0
5 Total Other comprehensive income 1449000 4467000



Cash flow statement, indirect
Particulars Year ended (dd-mm-yyyy)
A Date of start of reporting period 01-Apr-2024
B Date of end of reporting period 31-Mar-2025
C Whether results are audited or unaudited Audited
D Nature of report standalone or consolidated Consolidated
Part I Blue color marked fields are non-mandatory.
Statement of cash flows
Cash flows from used in operating activities
Profit before tax 553506000
Adjustments for reconcile profit (loss)
Adjustments for finance costs 399288000
Adjustments for decrease (increase) in inventories -1849272000
Adjustments for decrease (increase) in trade receivables, current -543057000
Adjustments for decrease (increase) in trade receivables, non-current 0
Adjustments for decrease (increase) in other current assets -217703000
Adjustments for decrease (increase) in other non-current assets 0
Adjustments for other financial assets, non-current 0
Adjustments for other financial assets, current 4007000
Adjustments for other bank balances 0
Adjustments for increase (decrease) in trade payables, current 228374000
Adjustments for increase (decrease) in trade payables, non-current 0
Adjustments for increase (decrease) in other current liabilities 373185000
Adjustments for increase (decrease) in other non-current liabilities 0
Adjustments for depreciation and amortisation expense 493808000
Adjustments for impairment loss reversal of impairment loss recognised in profit or loss 0
Adjustments for provisions, current 17881000
Adjustments for provisions, non-current 0
Adjustments for other financial liabilities, current 34330000
Adjustments for other financial liabilities, non-current 0
Adjustments for unrealised foreign exchange losses gains 7663000
Adjustments for dividend income 0
Adjustments for interest income 34376000
Adjustments for share-based payments 33629000
Adjustments for fair value losses (gains) 0
Adjustments for undistributed profits of associates 0
Other adjustments for which cash effects are investing or financing cash flow 0
Other adjustments to reconcile profit (loss) 0
Other adjustments for non-cash items -706000
Share of profit and loss from partnership firm or association of persons or limited liability partnerships 0
Total adjustments for reconcile profit (loss) -1052949000
Net cash flows from (used in) operations -499443000
Dividends received 0
Interest paid 0
Interest received 0
Income taxes paid (refund) 102131000
Other inflows (outflows) of cash 0
Net cash flows from (used in) operating activities -601574000
Cash flows from used in investing activities
Cash flows from losing control of subsidiaries or other businesses 0
Cash flows used in obtaining control of subsidiaries or other businesses 0
Other cash receipts from sales of equity or debt instruments of other entities 0
Other cash payments to acquire equity or debt instruments of other entities 0
Other cash receipts from sales of interests in joint ventures 0
Other cash payments to acquire interests in joint ventures 0
Cash receipts from share of profits of partnership firm or association of persons or limited liability partnerships 0
Cash payment for investment in partnership firm or association of persons or limited liability partnerships 0
Proceeds from sales of property, plant and equipment 4846000
Purchase of property, plant and equipment 1633404000
Proceeds from sales of investment property 0
Purchase of investment property 0
Proceeds from sales of intangible assets 0
Purchase of intangible assets 6227000
Proceeds from sales of intangible assets under development 0
Purchase of intangible assets under development 0
Proceeds from sales of goodwill 0
Purchase of goodwill 0
Proceeds from biological assets other than bearer plants 0
Purchase of biological assets other than bearer plants 0
Proceeds from government grants 0
Proceeds from sales of other long-term assets 0
Purchase of other long-term assets 0
Cash advances and loans made to other parties 0
Cash receipts from repayment of advances and loans made to other parties 0
Cash payments for future contracts, forward contracts, option contracts and swap contracts 0
Cash receipts from future contracts, forward contracts, option contracts and swap contracts 0
Dividends received 0
Interest received 36397000
Income taxes paid (refund) 0
Other inflows (outflows) of cash -38056000
Net cash flows from (used in) investing activities -1636444000
Cash flows from used in financing activities
Proceeds from changes in ownership interests in subsidiaries 0
Payments from changes in ownership interests in subsidiaries 0
Proceeds from issuing shares 0
Proceeds from issuing other equity instruments 0
Payments to acquire or redeem entity's shares 0
Payments of other equity instruments -3019500000
Proceeds from exercise of stock options 0
Proceeds from issuing debentures notes bonds etc 0
Proceeds from borrowings 143541000
Repayments of borrowings 437091000
Payments of lease liabilities 68496000
Dividends paid 0
Interest paid 385824000
Income taxes paid (refund) 0
Other inflows (outflows) of cash 0
Net cash flows from (used in) financing activities 2271630000
Net increase (decrease) in cash and cash equivalents before effect of exchange rate changes 33612000
Effect of exchange rate changes on cash and cash equivalents
Effect of exchange rate changes on cash and cash equivalents 0
Net increase (decrease) in cash and cash equivalents 33612000
Cash and cash equivalents cash flow statement at beginning of period 25292000
Cash and cash equivalents cash flow statement at end of period 58904000





Details of Impact of Audit Qualification
Whether results are audited or unaudited Audited
Declaration of unmodified opinion or statement on impact of audit qualification Statement on impact of audit qualification
Auditor's opinion Qualified opinion
Declaration pursuant to Regulation 33 (3) (d) of SEBI (LODR) Regulation, 2015: The company declares that its Statutory Auditor/s have issued an Audit Report with unmodified opinion for the period on Standalone results
Sr No. Audit firm's name Whether the firm holds a valid peer review certificate issued by Peer Review Board of ICAI Certificate valid upto
1 S.R. Batliboi & Co. LLP Yes 31-Jul-2027


Financial details
Sr. Particulars Audited Figures (as reported before adjusting for qualifications) Adjusted Figures (audited figures after adjusting for qualifications)
1 Turnover / Total income 8482592000 8482592000
2 Total Expenditure 7929086000 7929086000
3 Net Profit/(Loss) 553506000 553506000
4 Earnings Per Share 6.68 6.68
5 Total Assets 15934991000 15934991000
6 Total Liabilities 7929267000 7929267000
7 Net Worth 8005724000 8005724000


Audit qualification
Sr. Details of Audit Qualification Type of Audit Qualification Frequency of qualification For Audit Qualification(s) where the impact is quantified by the auditor For Audit Qualification(s) where the impact is not quantified by the auditor
Management's Views (i) Management's estimation on the impact of audit qualification (ii) If management is unable to estimate the impact, reasons for the same Auditors' Comments on (i) or (ii) above
1 Textual Information(1) Qualified opinion Whether appeared first time Textual Information(2) Textual Information(3) Textual Information(4) Textual Information(5)


Text Block
Textual Information(1) S R Batliboi & Co LLP have audited the accompanying statement of quarterly and year to date consolidated financial results of DEE Development Engineers Limited Holding Company and its subsidiaries the Holding Company and its subsidiaries together referred to as the Group for the quarter ended March 31, 2025 and for the year ended March 31, 2025 Statement, attached herewith, being submitted by the Holding Company pursuant to the requirement of Regulation 33 of the SEBI Listing Obligations and Disclosure Requirements Regulations, 2015, as amended Listing Regulations. n nIn our opinion and to the best of our information and according to the explanations given to us and based on the consideration of the reports of the other auditors on separate audited financial results of the subsidiaries the Statement n ntincludes the results of the following entities n nS NotName of the EntitytRelationship n1tDEE Development Engineers Limited Holding Company n2tDEE Fabricom India Private Limited Subsidiary Company n3tDEE Piping Systems Thailand Co Limited Subsidiary Company n4tMalwa Power Private Limited Subsidiary Companyt n5tAKB Foundation Subsidiary Company n ntexcept for the possible effects of the matter described in the Basis for Qualified Opinion section of our report, are presented in accordance with the requirements of the Listing Regulations in this regard and n ntexcept for possible effects of the matter described in the Basis for Qualified Opinion section of our report, gives a true and fair view in conformity with the applicable accounting standards, and other accounting principles generally accepted in India, of the consolidated net profit and other comprehensive income and other financial information of the Group for the quarter ended March 31, 2025 and for the year ended March 31, 2025
Textual Information(2) Not Applicable
Textual Information(3) Not assessable at this point of time
Textual Information(4) Not assessable at this point of time
Textual Information(5) The consolidated financial results include assets of Rs. 4,891.28 lacs pertaining to Malwa Power Private Limited MPPL, a wholly owned subsidiary of the Holding Company. As a consequence of the expiry of the Power Purchase Agreement PPA entered into by MPPL with its customer, on April 27, 2025 and for the reasons more fully discussed in note 8 to the consolidated financial Results, management is unable to make impairment assessment of the assets of aforesaid subsidiary. Accordingly, in the absence of sufficient appropriate audit evidence, Auditor are unable to comment on the impairment and possible consequential effects, if any, of this matter on the consolidated financial Results. n nNote No. 8 nOne of the Company subsidiary Malwa Power Private Limited or MPPL had setup BioMass power plant of 6 MW at Muktasar, Punjab and entered into a Power Purchase Agreement with Punjab State Power Corporation Limited PSPCL or customer for a period of 20 years that expired after the year end on April 27, 2025. As per the terms, the PPA was extendable for a duration of 10 years post expiry of initial term based on mutual consent of both parties. n nPSPCL has offered a tariff of Rs. 3.50 per unit as against the existing tariff of Rs. 8.59 per unit for the extension term of 10 years. In response, MPPL has applied to Punjab State Electricity Regulatory Commission PSERC requesting continuation of PPA at the existing tariff. PSERC in its interim order dated April 24, 2025, allowed continuation of PPA at a provisional tariff of Rs. 3.50 per unit as against the existing tariff of Rs. 8.59 per unit. As a result of provisional tariff, MPPL viability of operations are significantly impacted. The consolidated financial results include assets of Rs 4891.28 lacs pertaining to MPPL as of March 31, 2025. n nManagement of MPPL is also actively evaluating other strategic and commercial initiatives including diversification of power offtake and repurposing of biomass infrastructure. Pending the foregoing, management is unable to assess the impact of the above uncertainties, on the carrying value of abovementioned investment and loan receivable. n


Signatories detail
Name of CEO / Managing director Krishan Lalit Bansal
Name of CFO Sameer Agarwal
Name of audit committee chairman Ashwani Kumar Prabhakar
Name of statutory auditor S.R. Batliboi & Co. LLP
Name of other signatory, if any, with designation
Place Palwal, Haryana
Date 29-May-2025