Diamond Power Infrastructure Limited has announced robust financial results for the second quarter and half-year ended September 30, 2026 (Q2 & H1 FY27). The company achieved a significant 133% year-on-year revenue growth, reaching ₹1,032 crore for the quarter and ₹1,722 crore for the half-year. Profit After Tax (PAT) saw a remarkable 289% increase in Q2 YoY, with H1 PAT already exceeding the entire FY26 PAT. The company highlights operational leverage, cost efficiencies, and successful QIP deployment as key drivers.
Diamond Power Infrastructure Delivers Strong Q2 and H1 FY27 Results
Diamond Power Infrastructure Limited has reported outstanding financial performance for the quarter and half-year ended September 30, 2026. The company showcased significant year-on-year growth across key financial metrics, underscoring its operational efficiency and strategic execution.
Q2 FY27 Highlights
In the second quarter of FY27, Diamond Power Infrastructure achieved its first ₹1,000 crore quarter, with revenue from operations reaching ₹1,032 crore. This represents a substantial 135% increase compared to the same quarter in the previous year (Q2 FY26). EBITDA (including other income) grew by 189% YoY to ₹133 crore, with a margin of 12.9%. Profit After Tax (PAT) surged by 289% YoY to ₹108 crore, achieving a margin of 10.5%. Earnings per share (EPS) stood at ₹1.87 for the quarter.
The growth was driven by key product segments, including MV cables (11 / 33 kV), 66 kV EHV cables, and AL-59 conductors. Notably, data-centre cables, a new product line, contributed ₹242 crore, accounting for 23% of Q2 revenue. The company also reported significant improvements in operating costs, which declined to 5.7% of revenue from 8.2% a year ago, reflecting enhanced cost efficiency.
H1 FY27 Performance
For the first half of FY27, revenue from operations stood at ₹1,722 crore, marking a 133% increase over H1 FY26. EBITDA reached ₹218 crore, up by 182% YoY, with a margin of 12.7%. PAT for the half-year was ₹166 crore, a 141% increase YoY, already surpassing the full-year FY26 PAT of ₹158 crore. EPS for H1 FY27 was ₹3.01.
The company highlighted that H1 FY27 revenue is 90% of the full FY26 revenue, and H1 PAT is 105% of the full FY26 PAT. This performance reflects a consistent growth trajectory with six consecutive quarters of year-on-year growth since Q1 FY26.
Financial P&L Summary
Detailed P&L statements reveal that for Q2 FY27, revenue from operations was ₹1,031.9 crore, a 135% increase YoY. Cost of goods sold rose by 141% to ₹857.5 crore. Operating EBITDA (excluding other income) grew by 151% to ₹115.1 crore. EBITDA (including other income) stood at ₹133.2 crore, up 189% YoY. Finance costs increased by 23% to ₹12.1 crore. Profit after tax was ₹107.9 crore, a 289% increase YoY. Margins also showed improvement, with PAT margin at 10.5% compared to 6.3% in Q2 FY26.
In H1 FY27, revenue was ₹1,721.8 crore, up 133% YoY. Operating EBITDA grew by 150% to ₹192.0 crore. EBITDA (including other income) was ₹217.9 crore, a 183% increase YoY. Profit after tax was ₹166.3 crore, up 140% YoY. EPS was ₹3.01.
Balance Sheet and Funding
The balance sheet shows a net worth of ₹763.9 crore as of September 30, 2026, a significant turnaround from a negative net worth in March 2026. The company also reported a net cash position of ₹571.9 crore (excluding Resolution-Plan bonds). Promoter loans worth ₹391 crore have been repaid. The Resolution Plan was closed and fully pre-paid a year ahead of schedule in September 2026.
The company has successfully deployed ₹1,097.78 crore out of the ₹1,614 crore QIP funds as of September 30, 2026. Major utilizations include repayment of outstanding borrowings (₹340 crore), general corporate purposes (₹198.55 crore), and working capital (₹489.08 crore).
Order Book and Outlook
The firm order book stands at ₹3,735 crore as of September 26, 2026, with an estimated value of ₹4,300 crore at current market prices. The company anticipates revenue to reach approximately ₹4,300 crore in FY27, with targets of ₹7,500 crore for FY28 and ₹10,000 crore for FY29. The margin direction is indicated as ‘Up’.
Capacity and Capability Expansion
Diamond Power Infrastructure is undertaking several projects to enhance its capacity and capabilities, including additional CCV lines, an LV cables plant, an integrated polymer complex, and a VCV line. The company emphasizes its integrated manufacturing platform, from ingot to drum, tested up to 765 kV, positioning it as India’s largest single-location cables platform.
Governance and Ownership
The shareholding pattern as of September 30, 2026, shows promoter holding at 74.03%. The company has also strengthened its leadership with the appointment of experienced Chief Operating Officer and Chief Financial Officer in October 2026.
Source: BSE
