Diamond Power Infrastructure Limited’s Board met on February 14, 2026, to approve the Unaudited Financial Results (Standalone and Consolidated) for the quarter and nine months ended December 31, 2025. The Board also approved the appointment of Mr. Kalpesh Patel as the Chief Operating Officer, effective April 30, 2026. Furthermore, the Board sanctioned the Notice of Postal Ballot to seek shareholder approval for material related party transactions and borrowing limits.
Financial Results Approval for Q3 FY26
The Board of Directors of Diamond Power Infrastructure Limited held its meeting on February 14, 2026, concluding at 12:53 P.M. IST. The primary outcome was the approval of the Unaudited Financial Results for the quarter and the nine months ending December 31, 2025. These results, along with the Limited Review Reports from M/s. Naresh & Co., Chartered Accountants, were approved after being reviewed and recommended by the Audit Committee. A QR Code and web-link for the results will be published in newspapers as required.
Key Management Appointment
The Board approved the appointment of Mr. Kalpesh Patel as the Chief Operating Officer (COO) and Senior Managerial Personnel of the Company, effective from April 30, 2026. This recommendation was reviewed and approved by the Nomination and Remuneration Committee.
Profile of New COO
Mr. Patel brings over 34 years of leadership experience in manufacturing operations, specializing in lean transformation and cost optimization. He holds an MBA in Finance and Capital Project Management and a Master of Engineering in Production Engineering. His previous roles include serving as Director Operations at Virginia Transformers Corp. and holding leadership positions with Hitachi Energy and GE Power.
Shareholder Action and Borrowing Powers
The Board also approved the Notice of Postal Ballot to seek approval from shareholders for two significant items:
- Approval concerning Material Related Party Transactions scheduled for execution in the financial year 2026-27.
- Approval of the limit of borrowing powers as per Section 180 of the Companies Act, 2013.
Highlights from Financial Statements (Consolidated)
For the nine months ended December 31, 2025, the Consolidated Total Income reached ₹1,21,518.77 Lakhs, compared to ₹78,190.32 Lakhs for the previous year period. Total expenses were ₹1,11,545.01 Lakhs. The Net Profit for the period stood at ₹9,755.45 Lakhs.
Basic Earnings Per Share (EPS) for the nine months ended December 31, 2025, was reported as ₹1.85.
Auditor’s Qualified Conclusion Summary
The Independent Auditor’s Report highlighted a Qualified Conclusion primarily due to an ongoing exercise concerning the updation, physical verification, and reconciliation of the Property, Plant & Equipment Register, including Capital Work-in-Progress (CWIP). Depreciation on unreconciled asset values from the Pre-NCLT/RP period was provided at only 20% of the applicable rate, pending finalization of value-in-use and remaining useful lives. The auditor’s opinion on the consolidated results was not modified regarding the ongoing effort to secure the release of assets attached by the Enforcement Directorate, as the management believes the assets are protected under the IBC.
Standalone Financial Notes Detail
In the Standalone results for the nine months ended December 31, 2025, Revenue from Operations was ₹1,22,984.28 Lakhs. The company made additional provisions based on new labor codes, estimating ₹21.16 Lakhs for gratuity liability and ₹19.88 Lakhs for leave liability, accounted for under Employee Benefit Expenses.
Source: BSE
