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DIACABS · price
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Diamond Power Infrastructure (DICABS) reported exceptional Q4 FY26 results with revenue of ₹69,587 Lakhs (up 108% YoY) and full-year FY26 revenue of ₹1,91,010 Lakhs (up 71% YoY). PAT grew 691% YoY in Q4 to ₹6,061 Lakhs and 355% YoY for FY26 to ₹15,817 Lakhs. EBITDA margin improved significantly from 6.1% in FY25 to 12.1% in FY26, driven by cost optimization programs and favorable raw material sourcing through price variation clauses. The company operates at only 25-30% capacity utilization with plans to reach 70-80%, representing significant operational leverage potential. The company supplies EHV cables up to 400kV, AL59 conductors, and serves marquee clients including Adani, NTPC, and Power Grid. Vision 2030 targets include higher double-digit revenue growth and top-5 market positioning across product categories.
The strong margin expansion from 6.1% to 12.1% EBITDA demonstrates successful execution of operational improvements and product mix shifts toward premium EHV/HTLS cables. With massive untapped capacity (currently 25-30% utilized) and multiple expansion roadmaps underway, the company is well-positioned for continued margin improvement and market share gains in India's power infrastructure growth story.