Diamond Power Infrastructure (522163) Q2 24/25 earnings summary

Executive summary

• Unaudited standalone and consolidated financial results for the quarter and half year ended September 30, 2024, were approved and published, reflecting continued operational recovery and expansion initiatives.

• Board approved raising up to ₹500 crore in additional capital through various instruments, subject to regulatory and shareholder approvals.

• Appointment of Ernst & Young LLP as internal auditors for FY 2024-25 and 2025-26 was confirmed.

• Notable operational achievements include new accreditations, defense sector orders, and export orders from Bhutan.

• In-principle approval granted for acquisition of assets from Syska Mitter Private Limited.

Financial highlights

• Consolidated revenue from operations for Q2 FY25 was ₹25,029.96 lakh, up from ₹7,454.72 lakh in Q2 FY24; half-year revenue reached ₹47,416.05 lakh.

• Net profit for Q2 FY25 stood at ₹400.14 lakh, with half-year net profit at ₹2,055.92 lakh, both showing significant year-over-year improvement.

• Basic and diluted EPS for the half year were ₹3.90, compared to ₹1.50 in the prior year period.

• Cash and cash equivalents increased to ₹3,949.25 lakh as of September 30, 2024, from ₹983.63 lakh at the start of the period.

Outlook and guidance

• Subsidiary DICABS Nextgen Alloys Private Limited was incorporated in June 2024 but has not commenced commercial operations, so no impact on current consolidated results.

• Management expects completion of the property, plant, and equipment register update in Q4 FY25, which may affect future depreciation and asset values.