Diamond Power Infrastructure appointed Ashwani Saraf as Chief Operating Officer and designated him as Senior Management Personnel (SMP) with effect from October 3, 2026. The appointment was approved by the Board of Directors during its meeting held on the same day.

Concurrently, Kalpesh Patel ceased to be the Chief Operating Officer and SMP of the company with effect from the close of business hours on October 3, 2026. The company disclosed that Patel's cessation was due to his inability to continue in his position on account of health reasons.

Profile of new Chief Operating Officer

Ashwani Saraf is a manufacturing operations leader with over 30 years of experience in cables, automotive, power and telecom manufacturing. His background includes multi-plant and multi-country operations with full profit and loss accountability.

Most recently, Saraf served as Director – Production & Technical at JLLAPP, Jakarta, a joint venture between Jebsen & Jessen and LAPP Holding Asia. In this role, he led end-to-end cable manufacturing across ASEAN for a business valued at approximately $250 million. Prior to this, as Vice President – Manufacturing at LAPP India, he owned plant operations for a business of about ₹1,000 crore.

Saraf holds a B.E. in Mechanical Engineering from NIT Surathkal (1994) and is a Motorola University-certified Six Sigma Green Belt. He began his career at Tata Motors, rising from Graduate Engineer Trainee to Senior Manager over 12 years across plants in Pune, Jamshedpur and Lucknow.

Regulatory disclosures

The appointment and cessation were disclosed pursuant to Regulation 30 read with Para A of Part A of Schedule III of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The disclosure aligns with SEBI Master Circular No. HO/49/14/14(7)2025-CFD-POD2/I/3762/2026 dated January 30, 2026.

What the numbers show

The transition highlights a shift towards deep technical manufacturing expertise within the leadership team. Saraf’s profile reveals extensive experience managing large-scale cable businesses, specifically citing oversight of a $250 million operation in Jakarta and a ₹1,000 crore business at LAPP India. This concentration of experience in high-value cable manufacturing segments suggests a strategic focus on operational efficiency and scale in the core product lines.

Diamond Power Infrastructure Limited passed all nine resolutions proposed at its 34th Annual General Meeting (AGM) held on September 25, 2026. Key approvals included the appointment of Umeshkumar Chhaya as Whole-time Director and the relocation of the company's registered office from Vadodara to Ahmedabad.

The meeting was conducted through Video Conferencing and Other Audio-Visual Means. Remote e-voting preceded the meeting, with results consolidated by scrutinizer Ashish Shah & Associates. The voting period ran from September 22 to September 24, 2026.

Director appointments and remuneration

Shareholders approved the re-appointment of Rakesh Ramanlal Shah, who retired by rotation. Additionally, Umeshkumar Chhaya was appointed as a Director and subsequently as Whole-time Director via a special resolution. Both appointments received overwhelming support from the promoter group and institutional investors.

The meeting also ratified the remuneration for cost auditors for FY27. Special resolutions approving the remuneration for Chairman Maheswar Sahu and Independent Director Rabindra Nath Nayak were also passed with requisite majorities.

Registered office relocation

A special resolution to shift the registered office from Vadodara to Ahmedabad was approved by shareholders. This administrative change aims to align the corporate headquarters with operational or strategic priorities in Gujarat's capital city.

Voting participation details

The total number of shareholders on the record date (September 18, 2026) stood at 78,121. Voting participation varied across categories, with promoters holding a significant majority of shares.

What the numbers show

The voting data reveals a stark divergence in shareholder sentiment between institutional and non-institutional public investors. While public institutions voted against approximately 15.84% of the shares polled on financial statement adoption, non-institutional public shareholders voted almost unanimously in favour (99.86%). Despite this institutional dissent, the massive voting power of the promoter group (holding 44.27 crore shares) ensured all resolutions passed comfortably, as their votes alone constituted over 84% of the total votes cast.