Diamond Power Infrastructure Appoints New CFO, Approves Audited Financial Results
Diamond Power Infrastructure approved audited financial results for FY26. Revenue from operations for the year was ₹1,91,010.22 lakh, with a net profit of ₹15,816.93 lakh. Mr. Pawan Lohiya was appointed CFO, succeeding Mr. Samir Naik who resigned. The company noted a qualified audit opinion regarding fixed asset registers.
The appointment of a new CFO is a significant management change. The qualified audit opinion, while concerning, relates to an ongoing process and has been a recurring issue. The financial results themselves are a key indicator.
The company announced financial results and a key management change. However, the qualified audit opinion introduces a degree of uncertainty.
Diamond Power Infrastructure Limited announced the outcome of its Board Meeting held on May 26, 2026. The Board considered and approved the Audited Financial Results (Standalone and Consolidated) for the quarter and financial year ended March 31, 2026. The company also noted the resignation of Mr. Samir Naik, Chief Financial Officer and Whole-time Director, effective May 25, 2026, due to personal reasons. Subsequently, the Board approved the appointment of Mr. Pawan Lohiya as the new Chief Financial Officer, effective May 26, 2026. Mr. Lohiya, who has been the Deputy CFO for the past two years, succeeds Mr. Naik.
The audited financial results for the quarter ended March 31, 2026, show a Revenue from Operations of ₹69,586.57 lakh and a Net Profit of ₹6,061.48 lakh. For the full financial year ended March 31, 2026, Revenue from Operations stood at ₹1,91,010.22 lakh with a Net Profit of ₹15,816.93 lakh.
The company's auditor's report included a qualified opinion, primarily concerning the ongoing updation of the Property, Plant, and Equipment Register. The management has engaged an independent agency to complete this process, which is expected to conclude in the next fiscal year. Due to the pending exercise, depreciation on pre-takeover assets is being provided at 20% of the applicable rate, while new additions are depreciated at regular rates. The company also highlighted that it has been discharged from CBI/ED/PLMA matters, which is expected to enhance liquidity and facilitate working capital borrowings and recoveries.
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Diamond Power Infrastructure Limited filed this with the NSE as a statutory disclosure, categorised under quarterly results. It is a primary document, not a recommendation, and the desk marks it medium impact: worth reading, rarely worth acting on by itself.
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