Diamond Power Infrastructure Announces Director Appointment and Completes Major PPE Regularization Milestone

Diamond Power Infrastructure Announces Director Appointment and Completes Major PPE Regularization Milestone​

Diamond Power Infrastructure Limited reported its unaudited financial results for the quarter ended June 30, 2026, concurrently announcing key corporate developments, including the appointment of a new director and the successful regularization of its Property, Plant and Equipment (PPE) records.

The Board of Directors of Diamond Power Infrastructure Limited held a meeting on August 13, 2026, to consider and approve the Unaudited Financial Results for the quarter ending June 30, 2026. The company also approved plans concerning its operational structure, including the shifting of its registered office.

Corporate Governance Updates​

The Board approved the appointment of Mr. Umeshkumar Chhaya as an Additional Director and Whole-time Director, effective August 13, 2026. Mr. Chhaya is described as a seasoned commercial leader with over three decades of experience in the Wire & Cable industry, currently serving as Senior Vice President - Sales & Marketing at the company.

The meeting also approved the proposal to shift the Registered Office of Diamond Power Infrastructure Limited from its existing location in Vadodara, Gujarat, to Westgate (True Value) in Ahmedabad, for administrative and operational convenience.

Financial Highlights and Accounting Milestones​

The limited review reports issued by M/s Naresh & Co., Chartered Accountants, confirmed that the company has completed a comprehensive exercise regarding the physical verification and reconciliation of its Property, Plant and Equipment (PPE). This included updating the PPE Register, determining cost allocation and accumulated depreciation for prior periods.

Consequent to this exercise, the company made retrospective adjustments under Ind AS 8 to regularize past depreciation shortfalls:

• A shortfall from the period of IBC and Resolution (April 1, 2018, to March 31, 2022) was adjusted against Capital Reserve, totaling Rs. 38,092.56 lacs.
• A shortfall for the period post-implementation of the Resolution Plan and Takeover (April 1, 2022, to March 31, 2025) was adjusted against the opening Retained Earnings balance as of April 1, 2025, amounting to Rs. 4,548.06 lacs.

The company also reported that it has been discharged from criminal consequences related to CBI/ED/PLMA matters, which is expected to facilitate the release of attachment and encumbrances on its assets by the Enforcement Directorate, thereby enhancing liquidity prospects for working capital borrowings.

Financial Performance Summary (Quarter Ended June 30, 2026)​

The unaudited financial results presented across both consolidated and standalone segments showed strong performance indicators for the quarter ended June 30, 2026.


The financial details for the quarter ended June 30, 2026, are detailed in the respective unaudited financial statements presented alongside the limited review reports from Naresh & Co.

DIACABS Stock Price Movement​

Diamond Power Infrastructure Limited shares shed 1.41% in trading today, settling at ₹367.50 after a decline of ₹5.20 from previous close. The stock closed lower following a period where it had reached its 52-week high, as traders cleared approximately 1.14 million shares during the session.