Diamond Power Infrastructure Limited announced robust financial results for the second quarter and first half of FY2027. The company achieved a record quarterly revenue of INR1,032 crores, marking a 135% increase year-on-year. EBITDA grew by 189% to INR133 crores, and profit after tax surged to INR108 crores. The company also highlighted a significant improvement in net worth and debt reduction, alongside a growing order book valued at INR3,735 crores.
Strong Financial Performance in Q2 FY27
Diamond Power Infrastructure Limited has reported exceptional financial results for the second quarter and the first half of the financial year 2026-27 (Q2 FY27 & H1 FY27). The company achieved its first-ever quarterly revenue exceeding INR1,000 crores, with Q2 revenue standing at INR1,032 crores. This represents a substantial 135% growth compared to the same quarter last year and a 50% sequential increase.
EBITDA and Profitability Surge
EBITDA, including other income, saw a significant jump of 189% to INR133 crores, with a margin of 12.9%. Profit after tax (PAT) grew by 3.9 times to INR108 crores, compared to INR28 crores in the previous year. Earnings per share for the quarter was reported at INR1.87.
Half-Yearly Performance Highlights
For the first half of FY27, revenue reached INR1,722 crores, with EBITDA at INR218 crores and PAT at INR166 crores. Notably, the company’s H1 profit of INR166 crores has already surpassed the entire previous financial year’s profit of INR158 crores (FY26). This marks eight consecutive quarters of growth for Diamond Power.
Key Growth Drivers
The impressive performance was driven by three primary factors: a favourable product mix, including growth in medium voltage cables and EHV conductors; the introduction of a new product line, data centre cables, contributing 23% of the quarter’s revenue; and improved operating leverage, with employee and other expenses reduced to 5.7% of revenue.
Financial Health Improvement
The company’s balance sheet has seen a remarkable transformation. Net worth has moved from a negative INR604 crores at the end of March 2026 to a positive INR764 crores as of September 30, 2026. Net debt has been converted into a net cash position of INR572 crores, largely due to the successful Qualified Institutional Placement (QIP) and repayment of promoter loans. The company has also fully exited the NCLT process.
Order Book and Future Outlook
Diamond Power’s firm order book stood at INR3,735 crores at quoted value and around INR4,300 crores at current market prices as of September 30, 2026. The order inflow for H1 FY27 was INR2,217 crores, indicating a healthy book-to-bill ratio. The company anticipates continued growth from segments like medium voltage cables, EHV cables, and data centre cables, with a strategic focus on export markets and capacity expansion through new capex projects.
Capex and Polymer Integration
Significant investments are being made in capex, including a new 6th CCV line and a polymer compound backward integration project, representing an investment of INR170 crores. This initiative aims to reduce costs and enhance margins by producing crucial insulation and sheathing compounds in-house, particularly cross-linked polyethylene (XLPE) for higher voltage cables.
Market Position and Strategy
Diamond Power is focusing on building its market share in medium and extra-high voltage cables, emphasizing quality and customer approvals. The company aims to be a leader in these segments, with a roadmap for substantial revenue growth expected by FY28. Efforts are also underway to expand into new markets, including the Middle East, Europe, and the US.
Source: BSE
