Diamond Power Infrastructure commissioned its 8th Medium Voltage (MV) and Extra High Voltage (EHV) power cable production line at its manufacturing facility in Vadodara, Gujarat on June 3, 2026. This expansion adds 150 kms per month to the company's manufacturing capacity, which now stands at 1050 kms per month. The project, funded through internal accruals, involved an investment of Rs 30 cr and aims to address the growing demand for power cables.

Capacity Utilization and Expansion

The company reported a present capacity utilization of 60%. With the new line now operational, Diamond Power Infrastructure continues to strengthen its position in the technology-intensive MV and EHV underground power cable segment. Two additional MV/EHV lines are presently under installation and commissioning, expected to become operational on or before March 31, 2027. Upon completion, the Vadodara facility will operate a total of 10 MV/EHV lines.

Operational Details

The following table outlines the key details of the capacity addition:

Strategic Outlook

Demand for MV and EHV underground power cables in India is driven by investments in power transmission and distribution infrastructure, renewable energy integration, and urban underground cabling projects. The segment requires advanced manufacturing facilities and testing infrastructure, creating significant entry barriers for new participants.

Management Commentary

Ms. Nivedita Pandya, Vice President – Projects, stated that the commissioning marks an important milestone in Diamond Power's expansion programme. She added that the additional capacity strengthens the ability to serve the growing requirements of utilities, power generation projects, renewable energy evacuation systems, and urban underground power transmission networks.

Diamond Power Infrastructure Limited reported a strong financial performance for the year ended March 31, 2026, with consolidated net profit rising 355% to ₹15,817 lakh from ₹3,474 lakh in the previous year. Revenue from operations for the year increased 71% to ₹1,91,010 lakh compared to ₹1,11,539 lakh in FY25. The Board of Directors approved the audited financial results for the quarter and year ended March 31, 2026, at a meeting held on May 26, 2026. The company also released an investor presentation detailing its strategic positioning and operational capabilities.

Financial Performance

The company’s standalone net profit for FY26 stood at ₹14,757.36 lakh, up from ₹3,473.51 lakh in the previous year. Standalone revenue for the year was ₹1,94,446.68 lakh, compared to ₹1,11,539.25 lakh in FY25. For the quarter ended March 31, 2026, the company reported a consolidated net profit of ₹6,061 lakh on revenue of ₹69,587 lakh. EBITDA for FY26 increased sharply by 243% to ₹23,162 lakh compared to ₹6,757 lakh in FY25, while the EBITDA margin improved to 12.1% from 6.1%.

The following table summarises the key financial metrics for the year ended March 31, 2026:

Business Highlights

During FY26, the company’s revenue order book crossed approximately ₹3,498 crore. The company continued expansion in EHV and premium cable offerings with capability up to 400 kV and expanded its manufacturing footprint with additional MV cable lines. The strong performance reflects improving operating leverage, higher utilization levels, and increasing contribution from premium products including AL-59 conductors, HTLS conductors, MVCC conductors and EHV cables.

Strategic Positioning

The management stated that India is entering a multi-year power infrastructure supercycle driven by renewable energy expansion, grid modernization, and data centre investments. Diamond Power Infrastructure Limited is strategically positioned to benefit from these opportunities through its integrated manufacturing platform, EHV capability, and premium product portfolio. The company continues to focus on expanding its pan-India retail network, growing EHV and high-margin specialty products, and export expansion across Europe, Middle East, and Africa.

Auditor's Qualified Opinion

Naresh & Co., the statutory auditors, issued a qualified opinion on the consolidated and standalone financial results. The qualification relates to the ongoing updation of the Property, Plant and Equipment (PPE) register. The management has disclosed that an independent agency is conducting a physical verification and reconciliation of PPE and Capital Work-in-Progress (CWIP). Pending the completion of this exercise, the PPE block from the pre-NCLT/Resolution Plan period is being carried forward at existing balances. Depreciation on these pre-NCLT assets is provided at 20% of the applicable rate, based on management estimates of capacity utilisation and wear and tear.