Diamond Power margin trails peers as stock falls 3.10% in five sessions
The standalone quarter included a -0.29% tax rate, while management outlined capacity additions linked to a reported Rs 3,687.55 cr order book.
Filed 13 Aug 2026, 16:25 IST · after market close · Diamond Power Infrastructure Ltd (DIACABS)
Key takeaways
- Standalone operating margin was 9.57%, 2.24 percentage points below the 11.81% median for 285 Industrials peers.
- A -0.29% tax rate supported net profit of Rs 57.09 cr against profit before tax of Rs 56.92 cr.
- The stock gained 0.27% on the first session after results but fell 3.10% by day five.
Price around the results
Q1 operating margin lagged the Industrials median
The standalone quarter generated Rs 67.71 cr of operating profit on revenue of Rs 707.31 cr, translating to a 9.57% operating margin. That was 2.24 percentage points below the 11.81% median margin of 285 Industrials peers that had reported. The company ranked 105th from the bottom on this comparison.
A negative tax rate lifted reported profit
The -0.29% tax rate was a material support to reported earnings, with net profit of Rs 57.09 cr exceeding profit before tax of Rs 56.92 cr. Other income of Rs 6.75 cr also contributed to the reported result, so profit quality was not entirely operating-led.
The initial market response weakened through day five
The results were filed after market close, and the stock gained 0.27% on the first trading session after the filing. The move then reversed to -2.07% by day one and -3.10% by day five, with the five-day performance 2.51% below the benchmark on a relative basis.
Management linked future growth to cable capacity
Management said it expects a revenue ramp from Rs 4,000 cr to Rs 7,500 cr, driven by annual LV capacity of 42,000 km from FY28. It also said the company plans to convert 1,50,000 tonnes of conductor capacity into cable cores over the next 36 months. The presentation reported an outstanding order book of Rs 3,687.55 cr as of 11 August 2026, while management said the Rs 133.59 cr LV cables expansion is scheduled for commercial production from FY2027-28.
Q1FY27 at a glance
Standalone figures as filed with NSE — cross-checked against an independent source.
| Line item | Q1FY27 |
|---|---|
| Revenue | ₹707 cr |
| Other income | ₹7 cr |
| Expenses | ₹640 cr |
| Operating profit | ₹68 cr |
| Operating margin (%) | 9.57% |
| Interest | ₹6 cr |
| Depreciation | ₹11 cr |
| Profit before tax | ₹57 cr |
| Tax | ₹-0 cr |
| Net profit | ₹57 cr |
| EPS (₹) | ₹1.08 |
Operating margin of 9.57% compares with a Industrials sector median of 11.81% across 285 peers that have reported Q1FY27.
How the stock reacted
| Window | Stock | vs NIFTY |
|---|---|---|
| Results day | +0.27% | +0.39% |
| Next session | -2.07% | — |
| 5 sessions | -3.10% | -2.51% |
| 15 sessions | -9.71% | — |
| 30 sessions | -7.69% | — |
Volume on the results session was 0.27× its 20-day average.
What management said
From the company’s own investor presentation. Each point is checked against the source document before it appears here.
This quarter
- The company reported an outstanding order book of ₹3,687.55 crore as of 11 August 2026.
Guidance & outlook
- The company expects a revenue ramp from ₹4,000 crore to ₹7,500 crore, driven by annual LV capacity from FY28.
- The company plans to convert 1,50,000 tonnes of conductor capacity into cable cores over the next 36 months.
Expansion
- The ₹133.59 crore LV cables expansion is scheduled for commercial production from FY2027-28.
- The ₹17.03 crore corrugation-lines project is planned for commercial production in June 2027.
- The sixth CCV line has in-principle approval and is planned for commercial production in FY2027-28.
- A new rod mill is being installed while one 1998 mill is being discarded.
New initiatives
- A new conductor laboratory is under construction.
- The new LV cables facility will provide more than 3,000 km per month of capacity for copper LV data-centre cables.
What to watch
- Whether operating margin improves from 9.57% and narrows the 2.24-percentage-point gap to the Industrials median.
- Progress on converting 1,50,000 tonnes of conductor capacity into cable cores over the next 36 months.
- Whether execution advances against the Rs 3,687.55 cr order book reported as of 11 August 2026.