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Diamond Power Infrastructure Q2 FY27 results: net profit ₹107.88 crore vs ₹27.73 crore, revenue up 135.4%
Diamond Power Infrastructure Limited reported consolidated revenue of ₹1,032 crore and net profit of ₹107.88 crore for Q2 FY27. Revenue rose 135.4% from Q2 FY26, while EBITDA increased 150.6% to ₹115.06 crore and the EBITDA margin improved 0.7 percentage points to 11.2%.
Key points
- Consolidated Q2 FY27 revenue was ₹1,032 crore, up 135.4% from ₹438.33 crore in Q2 FY26.
- EBITDA was ₹115.06 crore, up 150.6% from ₹45.92 crore, with the margin at 11.2%.
- Net profit was ₹107.88 crore, up 289.0% from ₹27.73 crore, and EPS was ₹1.87.
- Against Q1 FY27, revenue rose 49.6% to ₹1,031.90 crore and net profit increased 84.6% to ₹107.88 crore.
- H1 FY27 revenue was ₹1,721.78 crore, while profit after tax was ₹166.33 crore and EPS was ₹3.01.
How did Diamond Power Infrastructure perform in Q2 FY27?
Diamond Power Infrastructure reported consolidated revenue of ₹1,032 crore in Q2 FY27, up 135.4% from ₹438.33 crore in Q2 FY26 and 49.6% from ₹689.88 crore in Q1 FY27. Total income was ₹1,050.07 crore, compared with ₹438.44 crore a year earlier and ₹697.56 crore in the previous quarter. Standalone revenue was ₹1,044.21 crore, while standalone profit after tax was ₹105.49 crore.
EBITDA rose 150.6% year on year to ₹115.06 crore from ₹45.92 crore and was up ₹38.10 crore from Q1 FY27. The EBITDA margin was 11.2%, up 0.7 percentage points from Q2 FY26 and unchanged from Q1 FY27. Profit before tax was ₹108.64 crore, up 277.1% from ₹28.81 crore, while tax expense fell to ₹0.76 crore from ₹1.08 crore.
Net profit was ₹107.88 crore, compared with ₹27.73 crore in Q2 FY26 and ₹58.45 crore in Q1 FY27. The corresponding increases were 289.0% year on year and 84.6% sequentially, while basic EPS rose to ₹1.87 from ₹0.53 and ₹1.11, respectively.
| ₹ crore | Q2 FY27 | Q1 FY27 | Q2 FY26 | YoY | QoQ |
|---|---|---|---|---|---|
| Revenue from operations | 1,032 | 689.88 | 438.33 | +135.4% | +49.6% |
| Other income | 18.16 | 7.68 | 0.10 | +18060.0% | +136.5% |
| Total expenses | 941.43 | 638.86 | 409.63 | +129.8% | +47.4% |
| EBITDA | 115.06 | 76.96 | 45.92 | +150.6% | +49.5% |
| EBITDA margin | 11.2% | 11.2% | 10.5% | +0.7 pp | +0.0 pp |
| Profit before tax | 108.64 | 58.69 | 28.81 | +277.1% | +85.1% |
| Tax | 0.76 | 0.25 | 1.08 | −29.6% | +204.0% |
| Net profit | 107.88 | 58.45 | 27.73 | +289.0% | +84.6% |
| EPS (₹) | 1.87 | 1.11 | 0.53 | +252.8% | +68.5% |
EBITDA here is revenue from operations less operating costs (total expenses excluding finance costs and depreciation): before other income and exceptional items. Growth is shown only when both figures are positive. Source: Company's results filing (XBRL).
What changed in Diamond Power Infrastructure's costs and profit?
Cost of materials was the largest cost line at ₹928.61 crore, up ₹561.93 crore from ₹366.68 crore in Q2 FY26. The investor presentation attributed the lower contribution margin primarily to higher LME aluminium prices, while price-variation clauses protected absolute contribution per tonne.
Employee cost rose ₹3.82 crore to ₹9.27 crore, finance costs increased ₹2.23 crore to ₹12.05 crore, depreciation rose ₹5.14 crore to ₹12.54 crore, and other expenses increased ₹19.49 crore to ₹50.06 crore. Other income rose ₹18.06 crore to ₹18.16 crore, while tax expense fell ₹0.32 crore to ₹0.76 crore. There was no exceptional item.
Against Q1 FY27, total expenses were higher by ₹302.57 crore, including a ₹328.48 crore rise in cost of materials and a ₹13.05 crore rise in other expenses. Finance costs fell by ₹2.19 crore to ₹12.05 crore, other income rose by ₹10.48 crore to ₹18.16 crore, and tax expense was ₹0.76 crore against ₹0.25 crore.
| ₹ crore | Q2 FY27 | Q2 FY26 | Change | Change % |
|---|---|---|---|---|
| Cost of materials | 928.61 | 366.68 | +561.93 | +153.2% |
| Employee cost | 9.27 | 5.45 | +3.82 | +70.1% |
| Finance costs | 12.05 | 9.82 | +2.23 | +22.7% |
| Depreciation | 12.54 | 7.40 | +5.14 | +69.5% |
| Other expenses | 50.06 | 30.57 | +19.49 | +63.8% |
| Total expenses | 941.43 | 409.63 | +531.80 | +129.8% |
| Other income | 18.16 | 0.10 | +18.06 | +18060.0% |
| Tax | 0.76 | 1.08 | −0.32 | −29.6% |
Source: Company's results filing (XBRL).
How did the first half of FY27 go?
In H1 FY27, consolidated revenue rose 132.6% to ₹1,721.78 crore from ₹740.16 crore in H1 FY26, while total income increased 136.0% to ₹1,747.62 crore from ₹740.47 crore. The company attributed the first-half performance to data-centre cables, which contributed ₹242 crore in Q2, alongside MV cables, 66 kV EHV cables and conductors.
| ₹ crore | H1 FY27 | H1 FY26 | Change |
|---|---|---|---|
| Revenue from operations | 1,722 | 740.16 | +132.6% |
| Profit before tax | 167.33 | 48.94 | +241.9% |
| Net profit | 166.33 | 47.83 | +247.8% |
| EPS (₹) | 3.01 | 0.91 | +230.8% |
Source: Company's results filing (XBRL).
What do the balance sheet and cash flow show?
Total assets rose to ₹3,211.71 crore on 30 September 2026 from ₹2,403.61 crore on 31 March 2026. Total equity was ₹763.87 crore against negative ₹604.20 crore at the previous balance-sheet date, while borrowings fell to ₹1,975.40 crore from ₹2,529.99 crore and cash rose to ₹54.96 crore from ₹35.81 crore. Inventories increased to ₹574.52 crore from ₹369.23 crore and trade receivables to ₹869.46 crore from ₹464.23 crore.
In H1 FY27, operating cash flow was negative ₹490.47 crore, compared with negative ₹205.34 crore in H1 FY26. Investing cash flow was negative ₹551.50 crore against negative ₹26.73 crore, while financing cash flow was ₹1,061.13 crore against ₹249.82 crore. Capital expenditure was ₹51.50 crore, compared with ₹26.52 crore a year earlier. The presentation reported net cash of ₹572 crore.
| ₹ crore | As of 30 September 2026 | As of 31 March 2026 |
|---|---|---|
| Total assets | 3,212 | 2,404 |
| Total equity | 763.87 | −604.20 |
| Borrowings | 1,975 | 2,530 |
| Cash and equivalents | 54.96 | 35.81 |
| Inventories | 574.52 | 369.23 |
| Trade receivables | 869.46 | 464.23 |
Source: Company's results filing (XBRL).
| ₹ crore | H1 FY27 | H1 FY26 |
|---|---|---|
| Cash from operations | −490.47 | −205.34 |
| Cash from investing | −551.50 | −26.73 |
| Cash from financing | 1,061 | 249.82 |
| Capital expenditure | 51.50 | 26.52 |
Source: Company's results filing (XBRL).
How has Diamond Power Infrastructure done over the last 8 quarters?
Revenue increased in each of the last six quarters on a year-on-year basis, reaching ₹1,032 crore in Q2 FY27 from ₹307 crore in Q3 FY25, the earliest quarter shown. Profit also rose year on year for six consecutive quarters, reaching ₹108 crore in Q2 FY27 from ₹6 crore in Q3 FY25. EBITDA margin bottomed at 4.1% in Q4 FY25, rose to 14.6% in Q3 FY26, and stood at 11.2% in the latest quarter.
Revenue dipped from ₹695.87 crore in Q4 FY26 to ₹689.88 crore in Q1 FY27 before rising to ₹1,031.90 crore in Q2 FY27. Profit rose from ₹58.45 crore in Q1 FY27 to ₹107.88 crore in the latest quarter, while the EBITDA margin remained at 11.2%.
What else did the company announce?
The board approved the unaudited standalone and consolidated results for the quarter and half year ended 30 September 2026. The statutory auditors issued limited review reports with an unmodified conclusion, and the board noted that there had been no deviation from the stated objects of the Qualified Institutions Placement proceeds.
The board granted in-principle approval for a ₹170 crore capital expenditure plan for an Integrated Polymer Complex at Vadodara, to be built in two phases. The facility is planned to manufacture PVC/FRLS, silane and peroxide cross-linked XLPE, and super-clean XLPE compounds for cables rated up to 400 kV. No dividend or appointment was disclosed in the same-day filings.
How did Diamond Power Infrastructure shares react?
Diamond Power Infrastructure’s shares were up 1.9% after 5, 15 and 30 minutes from the price when the filing appeared. On the reaction day, the stock closed 5.5% above its pre-results close, while the Other Electrical Equipment industry median moved 0.3% lower. The stock therefore outperformed the sector by 5.9 percentage points on the reaction day.
By the next day’s close, the stock was 10.8% above its pre-results close, compared with a 1.8% increase for the industry median, an excess sector move of 9.0 percentage points. Earlier reaction-day moves were 7.5% on 23 July 2026, 4.3% on 26 May 2026, 7.1% on 14 February 2026 and negative 0.7% on 10 November 2025.
| After the filing | Stock | Other Electrical Equipment median |
|---|---|---|
| 5 minutes | +1.9% | |
| 15 minutes | +1.9% | |
| 30 minutes | +1.9% | |
| Reaction day | +5.5% | −0.3% |
| Next day | +10.8% | +1.8% |
Minutes are measured from the price when the filing appeared; days from the previous close. Source: MarketPing price-reaction measurement.
| Results filed on | Stock on the reaction day |
|---|---|
| 23 July 2026 | +7.5% |
| 26 May 2026 | +4.3% |
| 14 February 2026 | +7.1% |
| 10 November 2025 | −0.7% |
| 8 August 2025 | +2.9% |
| 30 May 2025 | −3.0% |
| 10 February 2025 | −4.9% |
| 12 November 2024 | −4.9% |
Source: MarketPing price-reaction measurement.
How did other Other Electrical Equipment companies do?
Eighteen Other Electrical Equipment companies that had filed for the quarter were compared with Diamond Power Infrastructure. Their median revenue growth was 40.1%, compared with Diamond Power Infrastructure’s 135.4% revenue growth in Q2 FY27. Of the peers, 16 grew more slowly than Diamond Power Infrastructure and two grew faster.
Ten of the 16 peers for which profit was compared reported higher profit. The peer comparison was recorded as of 4 November 2026.
| Diamond Power Infrastructure revenue growth (YoY) | +135.4% |
|---|---|
| Median of 18 other Other Electrical Equipment companies | +40.1% |
| Companies with slower revenue growth than Diamond Power Infrastructure | 16 of 18 |
| Companies with faster revenue growth than Diamond Power Infrastructure | 2 of 18 |
| Companies whose net profit rose | 10 of 16 |
Source: Filed results (XBRL) of the industry's companies.
Quick answers
What was Diamond Power Infrastructure's revenue in Q2 FY27?
Revenue from operations was ₹1,032 crore, up 135.4% from ₹438.33 crore in Q2 FY26 (consolidated).
Did Diamond Power Infrastructure make a profit in Q2 FY27?
Yes. Net profit was ₹107.88 crore, against a net profit of ₹27.73 crore in Q2 FY26.
What was Diamond Power Infrastructure's EPS in Q2 FY27?
Basic earnings per share were ₹1.87, against ₹0.53 in Q2 FY26.
How did Diamond Power Infrastructure shares react to the Q2 FY27 results?
On the reaction day the stock moved +5.5% from the previous close; the median Other Electrical Equipment stock moved −0.3%.
When did Diamond Power Infrastructure announce its Q2 FY27 results?
On 3 November 2026, in a filing to the BSE.
Sources
- Board Meeting Intimation for Approval Of Financial Results For The Quarter Ended On September 30, 2026 (BSE, 28 October 2026) · PDF
- Board Meeting Outcome for Financial Results For The Quarter Ended On 30.09.2026 (BSE, 3 November 2026) · PDF
- The earnings call (4 November 2026)
How this was written: every figure in the tables and charts is calculated from the company’s filed results (XBRL) and MarketPing’s price measurements. The text is drafted with AI from those figures and the filings, and a checker removes any sentence carrying a number it cannot trace to them. How we write these.
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