Slide 1: Rectification of Investor Presentation filing cover letter
QDEE piping systems Date: 5% February, 2026 Listing Compliance Department BSE Limited The National Stock Exchange of India Ltd. Phiroze Jeejeebhoy Tower, Exchange Plaza, Plot No. C/1, G Block, Dalal Street, Bandra Kurla Complex, Bandra (E), Mumbai - 400001 Mumbai - 400051 Scrip Code: 544198 Symbol:
Slide 2: Investor Presentation Q3 & 9MFY26
DEE Development Engineers INVESTOR PRESENTATION Q3 & 9MFY26
Slide 3: Contents
Contents 01 03 About DEE Financial Overview 02 Business Overview
Slide 4: About DEE
01 About DEE
Slide 5: About DEE: A Scaled, Integrated Process Piping Leader
About DEE: A Scaled, Integrated Process Piping Leader A design-led manufacturing partner delivering end-to-end solutions for complex industrial applications WHO WE ARE • Founded in 1988 by Mr. K. L. Bansal, DEE has built a proven track 1988 38 record of 38 years in specialized process piping solutio
Slide 6: Investment Rationale
Translating Engineering Leadership into Long-Term Value Creation Capacity Expansion & Scalability Financial Resilience Port-led growth platform Deleveraging Scalable global footprint Hedged commodity exposure Capex cycle nearing completion Stable input costs Unveiling the Margin Improvement Growth V
Slide 7: A Multi-Decade Journey of Consistent Execution
A Multi-Decade Journey of Consistent Execution Foundation & Capability Scale-Up, Visibility & Capacity Build-Up (1988-2012) Expansion (2023–2025) Bangkok Ops & Supply to Anjar Numaligarh Palwal Petroleum Commenced Ops Facility Units I & II refinery in Nigeria 2006-10 2017 2022 2024 1988 2012-14 2020
Slide 8: Board Of Directors
Board Of Directors Krishan Lalit Bansal Promoter, Chairman & Managing Director • Founded the company in 1988 • Extensive experience across prefabricated piping systems and the biomass power sector • Recipient of Business Leader of the Year (2011) and Lifetime Achievement Award (2016) from the Farida
Slide 9: Experienced Leadership
Experienced Leadership Krishan Lalit Bansal Pawan Arora Promoter, Chairman & AVP – Vendor Relations Managing Director Ranjan Kumar Sarangi Pankaj Agarwal CS & Compliance Officer Chief Operating Officer Brham Prakash Yadav Chief Financial Officer
Slide 10: Design-to-Delivery Execution Model
Design-to-Delivery Execution Model Companies require specialized high-pressure DEE qualifies through audits and wins piping for large industrial projects orders via technical-commercial bidding Client DEE wins In-house engineers design and obtain order approval for customized piping layouts Pipes ar
Slide 11: Management Commentary
Management Commentary “During Q3 FY26, we delivered a strong set of operating and financial results, with healthy growth in revenue, Operating EBITDA, and PAT, driven by robust execution in our core business segment catering to the Power and oil & gas sector. At a macro level, India’s capital expend
Slide 12: Business Overview
02 Business Overview
Slide 13: Diversified Business Portfolio
Diversified Business Portfolio Piping Spools Heavy Fabrication Pre-assembled pipe sections delivered Large steel structures for emissions ready-to-install, reducing on-site work control and wind energy, and speeding up project execution. manufactured to customer specifications. Industrial pipe fitti
Slide 14: Quarterly & 9M Snapshot Consolidated
Quarterly & 9M Snapshot Consolidated 3M 9M INR Cr INR Cr 77.0% YoY 44.3% Revenue ROCE Revenue YoY ROCE 286.7 6.2% QoQ 11.0% 780.4 9.7% 666.4% YoY Op.EBIDTA 104.8% Op.EBIDTA Op.EBIDTA Op.EBIDTA Margin YoY Margin 43.40 (1.4)% QoQ 123.4* 15.2% 15.8% Net NA YoY Net Profit Net 308.2% Net Profit Profit Ma
Slide 15: 9MFY26 Order Inflow and Closing Orderbook
9MFY26 Order Inflow and Closing Orderbook Order Inflow (in %) Closing Order book ( ₹in Cr) 0% Domestic – 37% 41 1 Export – 63% 7% ₹ 829 cr. ₹1303 cr. YTD Order Intake as on Dec’25 93% 1262 Process Piping Solutions Heavy Fabrication Gas Process Piping Solutions Heavy Fabrication Gas We have secured o
Slide 16: Segmental Highlights – Q3 & 9MFY26
Segmental Highlights –Q3 & 9MFY26 Business Q3 FY26 Q2 FY26 Q-o-Q Q3 FY25 Y-o-Y 9M FY26 9M FY25 Y-o-Y % Q3FY26 Revenue from Operations Split Core-Business 275 259 6.0% 141 94.7% 744 477 55.9% Non Core-Business 12 11 10.7% 21 -42.2% 36 64 -43.2% 96% Core Total Revenue 287 270 6.3% 162 77.1% 780 541 44
Slide 17: Core Business Performance
Core Business Performance INR Cr Robust Core Business Performance Driving Value Creation Revenue Core Business 3M 9M 706 745 (₹ in Cr) 521 Revenue 274.5 744.2 Steady Revenue FY23 FY24 FY25 Growth 94.7% YoY 55.9% YoY Op.EBITDA Solid Profitability 85 105 56 Op.EBIDTA 45.8 129.8 FY23 FY24 FY25 1968.5%
Slide 18: Core Business Highlights
Core Business Highlights Positioned for global capex Largest process piping upcycle, enabling sustained capacity in India (87,000 volume and order inflow MTPA), supporting scale-led growth execution and market leadership Diversification into heavy Strong engineering depth fabrication and sunrise sec
Slide 19: Core Business – Specialized Process Piping Solutions
Core Business – Specialized Process Piping Solutions DEE is India’s largest player in process piping solutions in terms of installed capacity, providing end-to-end design-led-manufacturing. Diverse Product Manufactures high-pressure piping systems, piping spools, industrial pipe fittings, Portfolio
Slide 20: Core Business – Heavy Fabrication & Infrastructure
Core Business – Heavy Fabrication & Infrastructure This segment supports the renewable energy sector-wind and critical industrial infrastructure through large-scale engineering and assembly. Wind Turbine Manufactures custom tubular steel windmill towers delivered in sections (12 to 33 Towers metres)
Slide 21: Strategically Positioned Global Manufacturing & Service Footprint
Strategically Positioned Global Manufacturing & Service Footprint INDIA 1. Palwal, Haryana THAILAND Operates three units with a combined capacity of 36,000 MT Unit I focuses on high-pressure piping and induction bends – 9,000 MT Unit II handles industrial fittings – 3,000 MT Unit III is dedicated to
Slide 22: Scaling Up Through New Facilities
Scaling Up Through New Facilities The U-shaped plant design enables efficient Anjar - Seamless Pipe Plant Anjar - Pipe Fabrication Unit material handling, reducing time and costs. Advanced automation and technology Strategic backward minimize manual labour dependency, integration to enhancing produc
Slide 23: Strong diversified customer base across geographies
DEE has strong diversified customer base across geographies Focus on Domestic and Developed Markets Served 27+ countries Served 4+ continents
Slide 24: Diverse Clientele Across Critical Industries
Diverse Clientele Across Critical Some of the Marquee Clientele Industries Industries Served – Q3 FY26 Refinery & Chillers & Cooling LNG Petrochemical System Pulp & Paper Pharmaceuticals Hydrogen Chemicals & Pipeline for Sugar Gas & Water Fertilizers Thermal Power Carbon Capture Oil & Gas Semiconduc
Slide 25: Non Core Business – Power Generation
Non Core Business – Power Generation Revenue – Q3 FY26 Abohar Biomass Power Plant • Plant spans 205,681.48 sqm area with 8 MW aggregate capacity, fully contracted under 30- year PPA signed March 4, 2011 with Punjab State Power Corporation Limited (PSPCL). • PPA commenced February 5, 2009; PSPCL auth
Slide 26: Non Core – Highlights
Non Core – Highlights Management agility Proactive turnaround of non- demonstrated by pivoting from core assets, where near-term power-only biomass operations to losses from tariff revisions are high-margin biomass pellet being addressed through swift manufacturing with minimal business model recali
Slide 27: Financial Overview
04 Financial Overview
Slide 28: Q3 & 9MFY26 – Consolidated P&L
Q3 & 9MFY26 – Consolidated P&L INR Cr % Change % Change % Change Particulars (₹ Cr.) Q3 FY26 Q2 FY26 Q3 FY25 9MFY26 9MFY25 QoQ YoY YoY Revenue from Operations 286.7 270 6.2% 162 77.0% 780.4 541 44.3% Op. EBITDA 43.4* 44.1 -1.4% 5.7 666.4% 123.4* 60.3 104.8% Op. EBITDA margin (%) 15.2 16.3 -110bps 3.
Slide 29: Q3 & 9MFY26 Key Performance Indicators
Q3 & 9MFY26 Key Performance Indicators Op.EBITDA (₹ cr.) and Op.EBITDA REVENUE from Operations (₹ cr.) PAT (₹ cr.) and PAT Margins (%) Margins (%) ▲ 77% YoY ▲ 6.2% QoQ ▲ 666.4% YoY -1.4% QoQ ▲ 4.2% QoQ 30 25.00% 17.8 18.6 Quarterly 20.00% 44 43 20 15.00% 10 -13.3 6.60% 6.50% 10.00% 0 5.00% Q3FY25 Q2
Slide 30: Q3 & 9MFY26 Key Performance Indicators
Q3 & 9MFY26 Key Performance Indicators Debt to Equity (x) Net Debt to EBITDA (x) 5.23 6.00 4.49 4.47 5.00 1.02 3.43 4.00 0.85 0.70 3.00 0.53 2.00 1.00 0.00 FY22 FY23 FY24 FY25 FY22 FY23 FY24 FY25 Net Debt to EBITDA Return on Capital Employed (%) Return on Equity (%) 8.70% 8.70% 6.10% 7.10% 6.60% 5.3
Slide 31: Capital Market Overview
Capital Market Overview Marquee Investors Shareholding Pattern Public 14% Current Market Price* INR 209.6 FII + DII 52 Week High / Low INR 336 / 167 16% Market Capitalization 1,450 Cr. Promoters 70% No. Shares Outstanding 6.92 Cr. NSE DEEDEV Promoters FII + DII Public BSE 544198 As of Dec 2025
Slide 32: Thank You
SAFE HARBOR This presentation may contain certain “forward-looking statements” within the meaning of applicable securities laws and regulations, which may include those describing the Company’s strategies, strategic direction, objectives, future projects and/or prospects, estimates etc. Investors ar