Diamond Power Infrastructure Limited has informed the Exchange about change in Management
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Diamond Power Infrastructure Limited announced CFO transition where Mr. Samir Naik resigned effective May 25, 2026 due to personal family reasons, and Mr. Pawan Lohiya (previously Deputy CFO for 2 years) was appointed as new CFO from May 26, 2026. The company also reported strong consolidated financial results with total income of Rs 1,91,810 Lakhs for FY26 (up 72% from Rs 1,11,595 Lakhs) and net profit of Rs 15,817 Lakhs (vs Rs 3,450 Lakhs), with EPS at Rs 3.00. However, auditors issued a qualified opinion citing unresolved issues with Property, Plant & Equipment (PPE) register reconciliation dating back to the NCLT takeover in FY22-23. The company has been providing depreciation at only 20% of applicable rates on pre-takeover assets pending completion of asset verification. Additionally, the company disclosed discharge from CBI/ED criminal cases and made provisions of Rs 341 Lakhs for new labour code compliance.
The CFO transition appears orderly with an internal promotion, but the recurring qualified audit opinion on asset valuation remains a governance concern. Strong profit growth may be viewed positively, but shareholders should monitor resolution of the PPE reconciliation issue expected next fiscal year.