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Diamond Power Infrastructure

DIACABS NSE
₹385.85 +18.35 (+4.99%)
P/E
111.84
View as Markdown
MCP
Close 4 Nov 2026 ₹385.85 +236.74 +159% 1Y
Start ₹149.11

Key Fundamentals

SmallcapElectrical EquipmentCapital Goods

Price-based figures as of · EPS basis: Standalone · TTM

ROCE
10.40%
Debt to Equity
Not meaningful: shareholders’ equity is negative
EPS (TTM)
₹3.45
Book Value
—
Market Cap
—
P/E (TTM)
111.84
P/B
Not meaningful: book value is negative
ROE
Not meaningful: shareholders’ equity is negative
Dividend Yield
0.00%
EBITDA
₹232 Cr
52W High
₹404.00
52W Low
₹115.57
Day Range
₹360.00 – ₹385.85
Volume
30,64,920

Peer Comparison

Industrials › Cables › Cables - Power › Other Electrical Equipment

Diamond Power Infrastructure peer comparison
Waaree Energies
₹2,408.0018.15₹67,713 Cr4.320.17%32.50%38.40%₹30,043 Cr₹4,003 Cr
Apar Industries
₹15,998.0054.39₹65,476 Cr7.860.39%20.30%31.80%₹24,389 Cr₹1,181 Cr
Premier Energies
₹904.0024.61₹40,624 Cr9.530.11%41.00%32.70%₹8,466 Cr₹1,674 Cr
Diamond Power Infrastructure (this company)
₹385.85111.84₹22,658 Cr—0.00%—10.40%₹2,348 Cr₹182 Cr
MTAR Technologies
₹6,036.50137.95₹19,040 Cr22.570.05%12.60%15.20%₹1,080 Cr₹134 Cr
Emmvee Photovoltaic Power
₹246.4112.03₹16,196 Cr3.890.43%50.70%44.60%₹6,023 Cr₹1,418 Cr
Avalon Technologies
₹2,041.00102.05₹13,437 Cr18.920.00%16.50%19.30%₹1,764 Cr₹134 Cr
Median 7 companies₹2,041.0054.39₹22,658 Cr8.700.11%26.40%31.80%₹6,023 Cr₹1,181 Cr

Comparable companies in the same industry. Market cap, P/E and P/B use the latest price; other metrics are as reported in filings. A dash means the figure is not published for that company.

Tapetide Score

Data-driven rating, 0–100, as of . How it works →

Overall score

48 Average

Data confidence 95/100

Category scores

Quality
46
Average
Returns, margins, earnings quality 22% weight
Valuation
26
Poor
Cheap vs sector & own history 24% weight
Growth
99
Strong
Sales & profit trajectory 9% weight
Financial Health
22
Poor
Solvency, leverage, coverage 9% weight
Momentum
99
Strong
Trend strength, vol-adjusted 12% weight
Ownership
45
Weak
FII/DII/promoter flows 24% weight

The Tapetide Score is data analysis, not investment advice. Tapetide is not a SEBI-registered research analyst or investment adviser.

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

Technical Indicators

Technical signals: verdict and indicator counts
GroupSignalBearishNeutralBullish
OverallStrong Bullish3412
OscillatorsBearish342
Moving AveragesStrong Bullish0010

Key readings

RSI (14)
63.13
Neutral
MACD (12,26,9)
0.43
Bullish
SMA (50)
353.70
Bullish
SMA (200)
231.54
Bullish

As of

Growth Rate

From the financial statements below. 10Y, 5Y, 3Y: compound annual growth to Mar 2026; 1Y: fiscal year to Mar 2026 against Mar 2025; TTM: four quarters to Jun 2026 against Jun 2025.

Revenue

Revenue growth by window
10Y−0.51%
5YZero base
3Y+406.06%
1Y+74.35%
TTM+96.49%

Net profit

Net profit growth by window
10YTurned to profit
5YTurned to profit
3YTurned to profit
1Y+322.86%
TTM+451.52%

Operating cash flow

Operating cash flow growth by window
10YTurned positive
5Y+91.86%
3YTurned positive
1Y+28.40%
TTM—

TTM: Reported once a year, so there is no trailing-twelve-month figure.

Operating margin· change in pp

Operating margin growth by window
10Y+10.62 pp
5YNo sales
3Y+170.08 pp
1Y+4.07 pp
TTM+3.94 pp

Revenue by year

Revenue by year, ₹ crore
Mar 2014₹2,674 Cr
Mar 2015₹2,369 Cr
Mar 2016₹2,045 Cr
Mar 2017₹1,131 Cr
Mar 2021₹0.00 Cr
Mar 2022₹0.00 Cr
Mar 2023₹15.00 Cr
Mar 2024₹343 Cr
Mar 2025₹1,115 Cr
Mar 2026₹1,944 Cr

Net profit by year

Net profit by year, ₹ crore
Mar 2014₹104 Cr
Mar 2015−₹116 Cr
Mar 2016−₹269 Cr
Mar 2017−₹795 Cr
Mar 2021−₹24.00 Cr
Mar 2022−₹25.00 Cr
Mar 2023−₹43.00 Cr
Mar 2024₹17.00 Cr
Mar 2025₹35.00 Cr
Mar 2026₹148 Cr

AI Analysis — Bull vs Bear

Figures as of 3 Nov 2026
AI opinion · based on fundamentals
Risk high

Diamond Power Infrastructure Ltd trades at ₹367.5 with a market cap of ₹21,650 Cr as of 2026-11-03. The company has delivered explosive profit growth of 397% TTM and 96% TTM sales growth, but carries a steep trailing PE of 106.52x and a negative ROE of -26.18%, reflecting a complex turnaround story with significant valuation and balance-sheet risks.

Bull Case 8
  • TTM profit growth of 397% signals a dramatic earnings inflection, suggesting the company's turnaround is translating into bottom-line results at an accelerating pace.
  • Compounded sales growth of 401% over 3 years indicates rapid top-line expansion, reflecting strong demand capture in the cables and power infrastructure segment.
  • 5-year compounded profit CAGR of 52% demonstrates that earnings momentum is not just a one-quarter phenomenon but a sustained multi-year trend.
  • TTM sales growth of 96% shows the company roughly doubled its revenue run-rate over the trailing twelve months, pointing to robust order execution.
  • Stock CAGR of 162% over 1 year reflects strong market conviction in the business trajectory, with the stock rising from a 52-week low of ₹115.57 to ₹367.5.
  • The company is expected to deliver a good upcoming quarter, suggesting near-term earnings momentum may continue.
  • 10-year stock CAGR of 60% indicates that long-term shareholders have been rewarded with meaningful compounding despite periods of business stress.
  • ROCE of 10.63% is positive and indicates the company is generating returns above the cost of some forms of capital, a sign of operational progress in a capital-intensive sector.
Bear Case 6
  • ROE of -26.18% is deeply negative, indicating the company is currently destroying shareholder equity on a trailing basis despite headline profit growth.
  • Price-to-book ratio of 21.77x is exceptionally high for an infrastructure company, suggesting the stock is priced far above its tangible asset base.
  • Debtor days have increased from 67.6 to 82.9 days, meaning the company is taking roughly 15 additional days to collect receivables, which pressures cash flows.
  • Working capital days have risen from 45.4 to 68.1 days, a 50% increase that ties up more capital in day-to-day operations and could strain liquidity as the business scales.
  • Compounded sales growth over 10 years is -1%, meaning the current revenue surge follows a prolonged decade of stagnation or decline, raising questions about long-term sustainability.
  • Dividend yield of 0% means the company returns no cash to shareholders, requiring investors to rely entirely on capital appreciation for returns.

This is AI-generated analysis, not financial advice. Do your own due diligence.

AI News Digest

9h ago

TL;DR: Diamond Power is steadily expanding its EHV cable manufacturing capacity with a modest ₹25 crore capex funded internally, signalling confidence in future demand. No headwinds emerged this period. With EHV utilisation at 60%, the company has near-term headroom before the new 132 kV line adds further capacity by end-2027, positioning it well for India's ongoing transmission infrastructure buildout.

Positives 1
  • New 132 kV CCV line Oct 22

    Diamond Power is investing ₹25 crore from internal accruals to add a CCV line for 132 kV cables at its Vadodara plant, with commissioning targeted by December 31, 2027. Current EHV capacity utilisation is at 60%, leaving room for growth before the new line comes online.

Neutral 1
  • New CFO appointed Oct 19

    Kundip Thakker has been appointed as CFO and KMP effective October 20, 2026, succeeding Lohiya who has been re-designated as Deputy CFO.

Quarterly Results

₹ Cr
DIACABS quarterly results, ₹ crore
Particulars Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026Sep 2026
Sales
74
75
60
134
224
250
307
334
304
445
481
715
707
1,044
Expenses
63
64
57
116
200
237
291
320
274
404
421
649
640
940
Operating Profit
11
10
3
18
24
13
16
14
29
41
60
65
68
104
OPM %
15%
14%
5%
13%
11%
5%
5%
4.1%
10%
9%
12%
9%
10%
10%
Other Income
0
0.05
0.05
0.58
0
0
0
0
−3
0
0
2
7
17
Interest
1
2
2
1
3
4
5
1
3
9
7
6
6
4
Depreciation
5
5
5
5
5
5
5
5
7
7
7
8
11
12
PBT
6
2
−5
14
17
4
6
8
15
25
46
53
57
105
Tax %
0%
0%
0%
−1%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
Net Profit
6
2
−5
14
17
4
6
8
15
25
46
54
57
105
EPS (₹)
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
—

Sep 2026: from the results filed on 3 Nov 2026, ahead of the full statement, so some rows are blank.

Profit & Loss

₹ Cr
DIACABS profit and loss, annual, ₹ crore
Particulars Mar 2012Mar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
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%
—
Not meaningful for this period: the ratio divides by a base close to zero, so it is left blank rather than shown as a very large number.
−153%
12%
6%
10%
10%
Other Income
3
6
7
−20
7
125
0
0
0
0
1
7
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
147
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
148
182
EPS (₹)
2.18
1.86
1.93
−2.14
−4.73
−2.95
−0.09
−0.09
−0.81
0.32
0.66
2.8
3.45
Div. Payout %
14%
4%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
—

Balance Sheet

₹ Cr
DIACABS balance sheet, annual, ₹ crore
Particulars Mar 2012Mar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 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
2,362
2,460
Other Liabilities
293
511
546
237
544
194
611
623
2,019
2,035
302
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

₹ Cr
DIACABS cash flow, annual, ₹ crore
Particulars Mar 2012Mar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Operating
−25
−123
106
−322
−148
−254
4
9
−1,953
16
81
104
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
22
Free Cash Flow
−179
−293
−159
−510
−231
−258
4
9
−1,955
−1
36
52
CFO/OP
−13
−56
47
−261
1,382
39
−172
−323
8,260
37
120
53

Ratios

DIACABS financial ratios, annual
Particulars Mar 2012Mar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 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
80
Days Payable
58
89
18
25
77
13
—
—
627
151
78
89
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%
—
10%
10%

Insights

Beta

AI-extracted from concalls & annual reports · figures as reported, with sources

Log in to view Diamond Power Infrastructure insights

62 extracted metrics across FY09–FY27.

Shareholding Pattern

As of Sep 2026

  • Promoters 74.03%
  • DIIs 11.22%
  • Public 7.83%
  • FIIs 4.14%
  • Others 2.78%

No promoter shares pledged as of Sep 2026

Change vs previous quarter

Not shown for some quarters: Others. Not available separately for this quarter: the shareholding filing gives Public and Others as one figure, shown under Public, so Others is left blank rather than estimated.

Documents

  • Q1 FY27 concall · Aug 2026
    Transcript PPT Recording
  • Concall · May 2026
    PPT
  • Q3 FY26 concall · Mar 2026
    PPT
  • Q1 FY26 concall · Aug 2025
    PPT
  • Q4 FY25 concall · Jun 2025
    PPT

Frequently Asked Questions about Diamond Power Infrastructure

What does Diamond Power Infrastructure Ltd do?
Diamond Power Infrastructure Limited is engaged in the business of manufacturing of Transmission & distribution of power products & services in India.
Where is Diamond Power Infrastructure Ltd (DIACABS) listed?
Diamond Power Infrastructure Ltd trades as DIACABS on the NSE and under code 522163 on the BSE.
Which sector does Diamond Power Infrastructure Ltd belong to?
Diamond Power Infrastructure Ltd is classified under the Cables sector, in the Cables - Power industry.
What is the PE ratio of Diamond Power Infrastructure Ltd?
Diamond Power Infrastructure Ltd trades at a PE ratio of 111.84 as of 4 Nov 2026, on earnings per share of ₹3.45.
What is the 52-week high and low of Diamond Power Infrastructure Ltd?
Over the last 52 weeks Diamond Power Infrastructure Ltd has traded between ₹115.57 and ₹404 as of 4 Nov 2026.

Company Information

Diamond Power Infrastructure Limited is engaged in the business of manufacturing of Transmission & distribution of power products & services in India.

Website dicabs.com
CEO Ms. Diksha Sharma
Employees 150
Listed 15 Sep 2023
Face Value ₹1

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