Diamond Power Infrastructure
Diamond Power Infrastructure
CablesKey Fundamentals
SmallcapCables - PowerCablesTapetide Score
Data-driven rating, 0–100. How it works →
Key Insights
Strengths
2- Company is expected to give good quarter
- Company has delivered good profit growth of 52.0% CAGR over last 5 years
Weaknesses
2- Debtor days have increased from 67.6 to 82.9 days.
- Working capital days have increased from 45.4 days to 68.1 days
Growth Rate
AI Analysis — Bull vs Bear
Diamond Power Infrastructure (DIACABS) has a market cap of about ₹20,753 crore and trades at 110.2x earnings and 21.01x book value. Public sources put FY26 revenue at about ₹1,910 crore, up roughly 71% year on year, and earnings at about ₹158 crore, up roughly 358%. The order book stood at ₹3,687.55 crore in August 2026. Against that, debtor days rose from 67.6 to 82.9 and working capital days rose from 45.4 to 68.1, and ROE, ROCE and debt-to-equity data were not available.
- Sales grew at a 401% CAGR over 3 years and 96% on a TTM basis, a sharp turnaround in the revenue base.
- TTM profit grew 397%, and public sources report FY26 earnings of about ₹158 crore, up roughly 358% from the prior year.
- The order book was ₹3,687.55 crore in August 2026, about 1.9x FY26 revenue of about ₹1,910 crore, which gives multi-quarter revenue visibility.
- Recent medium-voltage and extra-high-voltage cable orders ranged from about ₹52 crore to ₹230 crore each (including GST), which points to steady order inflow in higher-value product segments.
- Profit grew at a 52% CAGR over 5 years and 76% over 3 years, so the earnings growth has lasted beyond a single year.
- The stock returned 135% over 1 year, 370% CAGR over 3 years and 361% CAGR over 5 years, reflecting strong market recognition of the turnaround.
- The company is expected to report a good quarter, and FY26 revenue growth of about 71% suggests operating momentum is intact.
- A P/E of 110.2 prices in years of high growth, leaving little room for error if execution or margins disappoint.
- A P/B of 21.01 and a market cap of about ₹20,753 crore against FY26 revenue of about ₹1,910 crore (roughly 10.9x sales) put the valuation well above typical manufacturing multiples.
- Debtor days rose from 67.6 to 82.9, meaning more revenue is tied up in receivables and collections are slowing.
- Working capital days rose from 45.4 to 68.1, which could strain cash flows as the order book of ₹3,687.55 crore is executed.
- Sales CAGR over 10 years is -1%, reflecting a long period of distress before the recent revenue revival and a short track record at the current scale.
- ROE, ROCE and debt-to-equity data are not available, so capital efficiency and leverage cannot be checked from the given metrics.
- The dividend yield is 0%, so all returns depend on price appreciation.
- After a 370% 3-year stock CAGR, the price is sensitive to any slowdown from the 96% TTM sales growth or to a sector-wide de-rating of cable stocks.
This is AI-generated analysis, not financial advice. Do your own due diligence.
AI News Digest
- Early NCLT exit, plan cleared Sep 11
Prepaid the ₹2,401 crore NCLT resolution plan (₹501 crore cash plus ₹1,900 crore in 30-year bonds) one year ahead of schedule, and courts have resolved all legacy CBI/ED matters. The company can now get credit ratings and bank loans, and its entire gross block is free of charges and available as security.
- FY26 revenue jumps 71% Sep 25
FY26 revenue rose 71% to ₹1,910 crore and PAT reached ₹158 crore. The article attributes the growth to higher-value cable sales and debt prepayment.
- ₹76 crore Gujarat EHV cable order Sep 4
Won a ₹76.06 crore order from a private EPC contractor to supply 66 KV EHV underground power cables for a Gujarat transmission project. The order adds to the Q2FY27 order book, which the article describes as robust.
- 34th AGM: all resolutions passed Sep 28
The 34th AGM was scheduled for Sep 25, 2026, and shareholders passed every resolution. These included appointing Umeshkumar Chhaya as Whole-time Director and moving the registered office to Ahmedabad.
- FY26 BRSR report filed Sep 2
Filed its FY26 Business Responsibility and Sustainability Report, covering environmental metrics, employee welfare and governance disclosures.
TL;DR: Diamond Power has moved from turnaround to growth. It cleared its ₹2,401 crore NCLT plan a year early, put its CBI/ED legal issues behind it, and grew FY26 revenue 71% to ₹1,910 crore with ₹158 crore PAT. None of these articles point to a near-term headwind. The main risks are whether it can keep growing at this pace, how much it depends on Gujarat transmission orders, and how well it manages any new bank debt now that it can borrow again. The trend is improving, and the next things to watch are its first credit rating, how it uses fresh bank lines, and order inflows through FY27.
Quarterly Results
| Particulars | Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 74 | 75 | 60 | 134 | 224 | 250 | 307 | 334 | 304 | 445 | 481 | 715 | 707 |
| Expenses | 63 | 64 | 57 | 116 | 200 | 237 | 291 | 320 | 274 | 404 | 421 | 649 | 640 |
| Operating Profit | 11 | 10 | 3 | 18 | 24 | 13 | 16 | 14 | 29 | 41 | 60 | 65 | 68 |
| OPM % | 15% | 14% | 5% | 13% | 11% | 5% | 5% | 4.1% | 10% | 9% | 12% | 9% | 10% |
| Other Income | 0 | -1 | -1 | 3 | 0 | 0 | 0 | 0 | -3 | 0 | 0 | 2 | 7 |
| Interest | 1 | 2 | 2 | 1 | 3 | 4 | 5 | 1 | 3 | 9 | 7 | 6 | 6 |
| Depreciation | 5 | 5 | 5 | 5 | 5 | 5 | 5 | 5 | 7 | 7 | 7 | 8 | 11 |
| PBT | 6 | 2 | -5 | 14 | 17 | 4 | 6 | 8 | 15 | 25 | 46 | 53 | 57 |
| Tax % | 0% | 0% | 0% | -1% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% |
| Net Profit | 6 | 2 | -5 | 14 | 17 | 4 | 6 | 8 | 15 | 25 | 46 | 54 | 57 |
| EPS in Rs | 0.1 | 0.04 | -0.1 | 0.27 | 0.31 | 0.08 | 0.12 | 0.15 | 0.29 | 0.48 | 0.87 | 1.02 | 1.08 |
Profit & Loss
| Particulars | Mar 2012 | Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 1,740 | 2,126 | 2,674 | 2,369 | 2,045 | 1,131 | 0 | 0 | 15 | 343 | 1,115 | 1,944 | 2,348 |
| Expenses | 1,547 | 1,907 | 2,412 | 2,252 | 2,055 | 1,778 | 2 | 3 | 39 | 301 | 1,048 | 1,749 | 2,114 |
| Operating Profit | 193 | 219 | 262 | 117 | -11 | -647 | -2 | -3 | -24 | 43 | 67 | 196 | 234 |
| OPM % | 11% | 10% | 10% | 4.9% | -0.5% | -57% | — | -5560% | -153% | 12% | 6% | 10% | 10% |
| Other Income | 3 | 6 | 7 | -20 | 7 | 125 | 0 | 0 | 0 | 0 | 1 | -8 | 9 |
| Interest | 49 | 86 | 112 | 159 | 223 | 191 | 6 | 7 | 1 | 7 | 13 | 26 | 29 |
| Depreciation | 24 | 33 | 35 | 48 | 57 | 94 | 16 | 16 | 19 | 20 | 20 | 29 | 33 |
| PBT | 123 | 107 | 122 | -110 | -284 | -808 | -24 | -25 | -43 | 17 | 35 | 132 | 181 |
| Tax % | 12% | 14% | 15% | 5% | -5% | -2% | 0% | 0% | 0% | -1% | 0% | 0% | — |
| Net Profit | 108 | 92 | 104 | -116 | -269 | -795 | -24 | -25 | -43 | 17 | 35 | 133 | 182 |
| EPS in Rs | 2.18 | 1.86 | 1.93 | -2.14 | -4.73 | -2.95 | -0.09 | -0.09 | -0.81 | 0.32 | 0.66 | 2.52 | 3.45 |
| Div. Payout % | 14% | 4% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | — |
Balance Sheet
| Particulars | Mar 2012 | Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 37 | 37 | 54 | 54 | 57 | 270 | 270 | 270 | 53 | 53 | 53 | 53 |
| Reserves | 570 | 665 | 867 | 786 | 564 | 387 | -866 | -891 | -1,033 | -1,026 | -931 | -667 |
| Borrowings | 696 | 1,131 | 1,277 | 1,892 | 2,206 | 1,605 | 1,977 | 1,978 | 367 | 456 | 463 | 2,460 |
| Other Liabilities | 293 | 511 | 546 | 237 | 544 | 194 | 611 | 623 | 2,019 | 2,035 | 2,201 | 503 |
| Total Liabilities | 1,596 | 2,344 | 2,744 | 2,968 | 3,371 | 2,456 | 1,992 | 1,980 | 1,407 | 1,518 | 1,785 | 2,348 |
| Fixed Assets | 345 | 319 | 489 | 437 | 1,339 | 1,246 | 1,103 | 1,087 | 1,070 | 1,057 | 1,168 | 1,168 |
| CWIP | 208 | 387 | 442 | 679 | 125 | 128 | 188 | 188 | 188 | 198 | 112 | 133 |
| Investments | 17 | 17 | 17 | 17 | 17 | 17 | 12 | 12 | 0 | 0 | 3 | 3 |
| Other Assets | 1,025 | 1,622 | 1,795 | 1,835 | 1,889 | 1,065 | 689 | 692 | 149 | 263 | 503 | 1,043 |
| Total Assets | 1,596 | 2,344 | 2,744 | 2,968 | 3,371 | 2,456 | 1,992 | 1,980 | 1,407 | 1,518 | 1,785 | 2,348 |
Cash Flow
| Particulars | Mar 2012 | Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating | -25 | -123 | 106 | -322 | -148 | -254 | 4 | 9 | -1,953 | 16 | 81 | -12 |
| Investing | -157 | -174 | -259 | -179 | -102 | 45 | 0 | -1 | 20 | -19 | -72 | -154 |
| Financing | 191 | 341 | 152 | 500 | 260 | 210 | -4 | -6 | 1,936 | 4 | -6 | 72 |
| Net Cash Flow | 9 | 44 | -1 | -1 | 10 | 1 | 0 | 2 | 3 | 1 | 3 | -94 |
| Free Cash Flow | -179 | -293 | -159 | -510 | -231 | -258 | 4 | 9 | -1,955 | -1 | 36 | -64 |
| CFO/OP | -13 | -56 | 47 | -261 | 1,382 | 39 | -172 | -323 | 8,260 | 37 | 120 | -6 |
Ratios
| Particulars | Mar 2012 | Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debtor Days | 42 | 69 | 32 | 79 | 140 | 113 | — | — | 155 | 62 | 57 | 83 |
| Inventory Days | 147 | 171 | 182 | 181 | 153 | 127 | — | — | 1,487 | 176 | 81 | 79 |
| Days Payable | 58 | 89 | 18 | 25 | 77 | 13 | — | — | 627 | 151 | 78 | 88 |
| Cash Conversion Cycle | 130 | 150 | 196 | 234 | 216 | 228 | — | — | 1,016 | 87 | 60 | 73 |
| Working Capital Days | 42 | 41 | 44 | 97 | 50 | 42 | — | — | 2,264 | 59 | 9 | 68 |
| ROCE % | 15% | 12% | 12% | 3% | -2% | -29% | — | -1% | -11% | — | — | 24% |
Insights
BetaAI-extracted from concalls & annual reports · figures as reported, with sources
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62 extracted metrics + investor summaries across FY09–FY27.
Documents
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Company Information
Diamond Power Infrastructure Limited is engaged in the business of manufacturing of Transmission & distribution of power products & services in India.[1]
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