News ArticleDiamond Power Infrastructure posts INR1,032 crore revenue in Q2 FY27, 135% increase YoY, and INR108 crore PAT
H1 FY27 revenue rose to INR1,722 crores with PAT of INR166 crores; net worth improved substantially post-QIP and profitability
Diamond Power Infrastructure Limited reported Q2 FY27 revenue of INR1,032 crores, up 135% year-over-year, driven by medium voltage cables, conductors, and new data centre cables, with profit after tax at INR108 crores. For H1 FY27, revenue reached INR1,722 crores and PAT INR166 crores, reflecting significant growth and turnaround in net worth from negative INR604 crores to positive INR764 crores.
Diamond Power Infrastructure Limited
Earnings Call Transcript
Diamond Power Infrastructure Limited reported a sharp rise in revenue to INR1,032 crores for Q2 FY27, marking a 135% increase over the previous year, supported by strong growth in medium voltage cables, conductors, and new data centre cable production. Profit after tax for the quarter was INR108 crores, nearly four times that of last year.
Revenue for the half year ended September 30, 2026, stood at INR1,722 crores with a profit after tax of INR166 crores, exceeding the entire previous year's PAT of INR158 crores. EBITDA for Q2 FY27 was INR133 crores with a margin expansion to 12.9%.
Key revenue drivers included medium voltage cables (11, 33, and 66 kV), EHV cables, AL59 conductors, and a newly launched copper data centre cable line contributing INR242 crores in Q2. This new product line, non-existent in Q1 FY27, was integral in supplying major hyperscale data centres through EPC contractors like L&T and Sterling Wilson.
The company achieved record production of over INR575 crores in September alone, including INR240 crores from data centre cables. Operating efficiencies improved with employee and other expenses reducing to 5.7% of revenue compared with 8.2% last year.
Diamond Power's net worth turned positive from negative INR604 crores in March 2026 to positive INR764 crores by September 2026, aided by a Qualified Institutional Placement (QIP) raising INR1,614 crores, full repayment of promoter loans, and increased profits. Net cash position improved to INR572 crores from net debt of INR527 crores at the start of the fiscal year.
Highlights
- Q2 FY27 revenue: INR1,032 crores, up 135% year-over-year
- Profit after tax (PAT) for Q2 FY27: INR108 crores, 3.9x increase from prior year
- H1 FY27 revenue: INR1,722 crores; PAT: INR166 crores, surpassing FY26 full-year PAT
- EBITDA margin improved to 12.9% in Q2 FY27
- New data centre copper cable line generated INR242 crores in Q2 revenue
- Record monthly production of INR575 crores achieved in September 2026, with INR240 crores from data centre cables alone
Key Data Snapshot
What happened
- Diamond Power Infrastructure reported Q2 FY27 revenue of INR1,032 crores, 135% higher than Q2 FY26.
- Profit after tax increased to INR108 crores, nearly four times the previous year’s quarter.
- Half-year revenue and PAT reached INR1,722 crores and INR166 crores, respectively, surpassing FY26 full-year PAT.
- Net worth improved from negative INR604 crores in March 2026 to positive INR764 crores by September 2026 due to QIP and profitability.
Key details
- Product mix growth driven by medium voltage cables (11, 33, 66 kV), EHV cables, AL59 conductors, and newly launched copper data centre cables.
- Data centre cables generated INR242 crores in Q2 FY27, contributing 23% of quarterly revenue.
- September 2026 saw a record production of INR575 crores, with INR240 crores from data centre cables alone.
- Operating expenses reduced to 5.7% of revenue compared to 8.2% in the prior year, boosting EBITDA margin to 12.9%.
Financial performance
- EBITDA including other income rose 189% to INR133 crores in Q2 FY27.
- EBITDA margin expanded by 240 basis points year-over-year.
- Other income of INR18 crores came from treasury income on QIP funds invested in fixed deposits.
- Tax burden remains negligible due to carry-forward losses.
Funding and capital details
- Qualified Institutional Placement (QIP) raised INR1,614 crores in July 2026, enabling deleveraging and expansion.
- Promoter loans were fully repaid during the quarter.
- Net debt of INR527 crores at March 2026 converted into net cash of INR572 crores by September 2026.
- Finance cost of INR12 crores is largely bank charges related to trade volume, not traditional interest expense.
Highlights
- Q2 FY27 revenue: INR1,032 crores, up 135% year-over-year
- Profit after tax (PAT) for Q2 FY27: INR108 crores, 3.9x increase from prior year
- H1 FY27 revenue: INR1,722 crores; PAT: INR166 crores, surpassing FY26 full-year PAT
- EBITDA margin improved to 12.9% in Q2 FY27
- New data centre copper cable line generated INR242 crores in Q2 revenue
- Record monthly production of INR575 crores achieved in September 2026, with INR240 crores from data centre cables alone
Disclosures
- SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015
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