Change in Management
DIACABS · price
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Diamond Power Infrastructure Limited announced that CFO and Whole-time Director Mr. Samir Naik resigned on May 25, 2026 due to personal family reasons, with Mr. Pawan Lohiya (previously Deputy CFO for 2 years) appointed as new CFO effective May 26, 2026. The company reported strong FY26 results with revenue of Rs 1,91,010 lakh, up 71% from Rs 1,11,539 lakh in FY25, and net profit of Rs 15,817 lakh compared to Rs 3,450 lakh previously. EPS improved to Rs 3.00 from Rs 0.65. The auditors issued a qualified opinion due to incomplete reconciliation of Property, Plant and Equipment registers from the pre-NCLT period, with depreciation being provided at only 20% of applicable rates pending final asset verification expected next fiscal year. The company also disclosed discharge from CBI/ED criminal matters and additional labor code provisions of Rs 341 lakh.
The CFO transition appears smooth with internal succession, reducing execution risk. Strong revenue and profit growth are positive signals, though the recurring qualified audit opinion on asset values and ongoing PPE reconciliation remains a governance concern requiring monitoring.