03-Nov-2026 13:21:42
DIAMOND POWER INFRASTRUCTURE Q2 FY27: PAT SURGES 349% YOY; REVENUE UP 135%, ₹170 CR POLYMER COMPLEX APPROVED & ₹1,614 CR QIP RAISED
• New Capex Approval: Board granted in-principle approval for ₹170 Cr investment in an Integrated Polymer Complex at Vadodara, to be developed in two phases • Polymer Complex Expansion: New facility will manufacture PVC/FRLS compounds, silane and peroxide cross-linked XLPE compounds, and super-clean XLPE compounds for cables up to 400 kV • Backward Integration: Management expects the facility to be India's first super-clean cable-grade polymer plant, enabling integration from aluminium rods to 400 kV cable insulation • QIP Fundraising: Raised ₹1,613.97 Cr through Qualified Institutions Placement during Q2 FY27, issuing 7.11 Cr equity shares at ₹227 per share • QIP Fund Utilisation: Utilised ₹1,097.78 Cr as of September 2026, with ₹516.19 Cr remaining unutilised • Working Capital Investment: Utilised ₹489.08 Cr of QIP proceeds towards working capital, while ₹340 Cr was used for repayment of outstanding borrowings • Capex Funding: QIP proceeds earmark ₹205.18 Cr for capital expenditure, of which ₹33.17 Cr had been utilised as of September 2026 • Debt Reduction: Consolidated borrowings declined to approximately ₹1,975 Cr from ₹2,530 Cr in March 2026, reflecting debt repayment • Working Capital Pressure: H1 operating cash outflow stood at ₹490.47 Cr, driven by increased receivables, inventory and other working capital requirements • Balance Sheet: Trade receivables increased to ₹869.46 Cr from ₹464.23 Cr in March 2026, while inventories rose to ₹574.52 Cr from ₹369.23 Cr • Accounting Update: Company completed its physical verification and depreciation reconciliation exercise; prior-period financial figures were restated, while auditors issued an unmodified review conclusion with an emphasis of matter • Future Growth Plans: Focused on developing an integrated polymer manufacturing ecosystem, strengthening backward integration and increasing capabilities in high-voltage cables
DIAMOND POWER INFRASTRUCTURE L