Diamond Power Infrastructure Holds 34th AGM, Reports ₹1,910 Cr Revenue
Diamond Power Infrastructure Limited held its 34th AGM on September 25, 2026. The company reported consolidated revenue of ₹1,910 crore for FY26, up from ₹1,115 crore. Profit after tax increased to ₹158 crore from ₹34 crore. The AGM approved financial statements, director appointments, and shifting the registered office.
The substantial increase in revenue and profit, along with strategic financial maneuvers like debt prepayment and successful QIP, indicates a significant positive shift in the company's financial health and operational performance, which will have a high impact on stakeholders.
The company reported significant improvements in revenue and profit after tax, alongside strengthening its balance sheet and repaying debt ahead of schedule. This indicates a positive financial turnaround and future growth prospects.
Diamond Power Infrastructure Limited held its 34th Annual General Meeting (AGM) on Friday, September 25, 2026, via Video Conferencing. The meeting addressed the adoption of audited standalone and consolidated financial statements for the fiscal year 2025-26, re-appointment of directors, and the shifting of the registered office.
The company reported a significant financial turnaround for FY 2025-26. On a consolidated basis, total revenue increased to approximately ₹1,910 crore from ₹1,115 crore in the previous year. EBITDA rose to ₹224 crore with a margin improvement to 11.7%, and profit after tax surged to ₹158 crore from ₹34 crore. This growth was primarily attributed to an increased focus on higher-value medium- and extra-high-voltage cables.
The company also detailed strengthening of its balance sheet, having prepaid lender installments ahead of schedule and successfully raising ₹1,614 crore through a Qualified Institutions Placement in July 2026, which also ensured compliance with Minimum Public Shareholding requirements. The Chairman highlighted the company's shift towards growth and expansion, focusing on strengthening business capabilities and creating sustainable long-term value.
Key agenda items included the re-appointment of Mr. Rakesh Ramanlal Shah as Director and the appointment of Mr. Umeshkumar Chhaya as a Director and Whole-time Director. The meeting also approved the ratification of remuneration for the Cost Auditor and the remuneration for Mr. Maheswar Sahu (Chairman and Independent Director) and Mr. Rabindra Nath Nayak (Non-Executive Independent Director). A special resolution was passed for shifting the registered office from Vadodara, Gujarat, to Ahmedabad, Gujarat.
The statutory auditors, M/s. Naresh & Co., issued a qualified audit report concerning the maintenance of the Fixed Assets Register and impairment of fixed assets. Similarly, the secretarial auditors, M/s. Ashish Shah & Associates, issued a qualified report regarding non-compliance with Minimum Public Shareholding (MPS) requirements. The cost auditors also issued a report with qualifications linked to the statutory auditors' findings. The Board provided explanations and outlined corrective actions for these qualifications.
The voting results of the 34th AGM are scheduled to be declared and disseminated on or before Tuesday, September 29, 2026, and will be available on the company's and NSDL's websites. The meeting concluded at 04:00 p.m. IST.
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