Diamond Power Infrastructure Limited · NSE:DIACABS
Diamond Power Infrastructure — Q2 FY2027 Earnings Presentation
36 slides from Diamond Power Infrastructure's earnings presentation, Nov 3, 2026
Slide 1: Diamond Power Infrastructure Limited - Investor Presentation Q2 FY2027 Cover Letter
DIAMOND POWER INFRASTRUCTURE LIMITED November 3, 2026 Corporate Relations Department Listing Department BSE Limited National Stock Exchange of India Limited 2nd Floor, P.J. Towers Exchange Plaza, Plot No. C/1, G- Block, Dalal Street, Bandra Kurla Complex, Bandra (E), Mumbai – 400 001 Mumbai – 400 05
Slide 2: Revenue, EBITDA and PAT: Q2 and H1 FY27
REVENUE Q2 FY27 H1 FY27 ₹1,032 cr ₹1,722 cr +135% YoY +133% YoY EBITDA Q2 FY27 H1 FY27 ₹133 cr ₹218 cr +189% YoY · 12.9% +182% YoY · 12.7% PAT Q2 FY27 H1 FY27 ₹108 cr ₹166 cr 3.9× YoY · 10.5% 2.4× YoY · > full FY26
Slide 3: Safe Harbour Statement
SAFE HARBOUR STATEMENT This presentation has been prepared by Diamond Power Infrastructure Limited (the "Company") solely for information purposes and does not constitute an offer, invitation or recommendation to purchase or subscribe for any securities of the Company. Certain statements in this pre
Slide 4: Agenda
AGENDA DICABS POWERING PROGRESS, Results, balance sheet, the growth engine and the road ahead 01 Q2 &H1 FY27 at a glance Revenue, EBITDA, PAT — quarter and half year 02 Financial performance P&L, eight-quarter trend, cost structure, product mix 03 Balance sheet transformed 04 QIP deployment Net wort
Slide 5: Q2 growth led by MV cables, EHV cables and data-centre cables
• Growth led by MV cables (11 / 33 kV), 66 kV EHV cables and AL-59 conductors; data-centre cables — a new, independent product line from the copper cable line — contributed ₹242 cr, 23% of Q2 revenue
Slide 6: H1 FY27: Profit Already Above All of FY26
H1 FY27: PROFIT ALREADY ABOVE ALL OF FY26 DICABS POWERING PROGRESS, Half year ended 30 September 2026 vs half year ended 30 September 2025 - consolidated - % crore REVENUE FROM OPERATIONS EBITDA (incl. other income) PROFIT AFTER TAX EARNINGS PER SHARE X1,722 cr 2218 cr 2166 cr 3.01 +133% YoY - H1 FY
Slide 7: Q2 FY27 P&L: PAT Up 3.9x on 2.4x Revenue
Q2 FY27 P&L: PAT UP 3.9x ON 2.4x REVENUE DICABS POWERING PROGRESS, % crore - unaudited - year-on-year comparison is the primary basis Reading the quarter Revenue from operations 1,031.9 438.3 +135% * Contribution margin declined to 16.9% from Cost of goods sold 857.5 356.4 +1419 567.6 451% Cae ones
Slide 8: H1 FY27 P&L: EBITDA 2.8x, PAT 2.4x YoY
H1 FY27 P&L: EBITDA 2.8x, PAT 2.4x YOY DICABS POWERING PROGRESS, % crore - unaudited - half year ended 30 September REVENUE Revenue from operations 1,721.8 100.0% 740.2 100.0% +133% Cost of goods sold 1,425.1 82.8% 599.7 81.0% +138% 2 5 3x YoY Employee benefits expense 176 1.0% 10.1 1.4% +74% Other
Slide 9: Eight Quarters of Growth - A New Scale Every Year
EIGHT QUARTERS OF GROWTH — A NEW SCALE EVERY YEAR DICABS POWERING PROGRESS, Quarterly revenue, EBITDA and PAT since Q3 FY25 - X crore - current quarter highlighted Revenue EBITDA (incl. other income) Profit after tax 1200 140 133 120 108 1,032 1000 a 100 100 800 80 80 61 sg 600 60 50 60 400 40 40 28
Slide 10: Q2 Revenue Mix: Cables 40%, Data-Centre Cables 23%
Q2 REVENUE MIX: CABLES 40%, DATA-CENTRE CABLES 23% Cables by voltage (₹412 Cr, ex data-centre) 6% 8% 3% 10% 40% 31% ₹1,032 ₹412 48% Cr total Cr cables 31% 23% Cables ₹412 Conductors ₹315 33 kV ₹199 11 kV ₹128 Data-centre ₹242 Others ₹62 3.3 kV solar ₹39 66 kV EHV ₹34 1.1 kV LT ₹11 22 kV <₹1 DATA-CEN
Slide 11: A Balance Sheet Transformed
03 - BALANCE SHEET A BALANCE SHEET TRANSFORMED Net worth positive for the first time since the Resolution Plan. P: full, a year early. Net cash on the books. we
Slide 12: Balance Sheet: Net Worth and Net Cash
BALANCE SHEET: 3764 CR NET WORTH, %572 CR NET CASH DICABS POWERING PROGRESS, Consolidated - % crore ulars EI 31-Mar-26 Change NET WORTH NET CASH Net worth (equity attributable to shareholders) 763.9 (604.2) +1,368.1 2764 cr Cash & bank balances (incl. fixed deposits) 648.1 103.8 4544.3, from %(604)
Slide 13: H1 Funds Flow: Where Rs 1,836 Crore Went
H1 FUNDS FLOW: WHERE 21,836 CRORE WENT DICABS POWERING PROGRESS, Consolidated cash flow for the six months to 30 September 2026 - crore Sources and uses of funds — H1 FY27 bridge ( crore) 2,000 +64 1,836 (683) +193 Pe ere | | 1,500 (391) 1,000 (164) (51) — —" (3) 544 —== ‘500 oO + AIP proceeds (net)
Slide 14: Resolution Plan Closed - One Year Early
RESOLUTION PLAN CLOSED — ONE YEAR EARLY DICABS POWERING PROGRESS The Company has exited the NCLT mechanism and operates with a clean slate 2022 Sep-2023 FY24-FY26 Jul-2026 Sep-2026 Now Resolution Plan approved; GSEC- Shares readmitted to tradingon _Plant restored: CCV lines, Sioplas 31,614 cr QIP co
Slide 15: Rs 1,614 Crore QIP: Deployment on Track
%1,614 CRORE QIP: DEPLOYMENT ON TRACK DICABS POWERING PROGRESS, Placement of 7.11 cr shares at 3227 completed 29 July 2026 - 56 allottees - monitoring agency CARE Ratings Object of the issue (as Planned (& cr) Utilised (Xcr) Status at 30-Sep-26 MARQUEE INVESTORS disclosed) ; ‘ai MF - FPI- AIF Repaym
Slide 16: Orders, Customers & Demand
05 - ORDER BOOK & DEMAND ORDERS, CUSTOMERS & DEMAND A firm order book replenished faster than it is executed, a customer base diversified by design, and demand drivers that run for a decade.
Slide 17: Live order book by product
Source: sales MIS, Sep-26 — pending value of live orders on variable-price basis. Live orders total ₹4,829 cr, of which ₹1,094 cr already executed. Conductors include ₹974 cr of AL-59 Lapwing for the HVDC programme. Data-centre orders of ₹485 cr basic (~₹620 cr with the 28% PV clause), ₹242 cr execu
Slide 18: Data-centre orders
Data-centre orders of ₹485 cr basic (₹435 cr + ₹50 cr AurionPro), ~₹620 cr with the 28% PV clause; ₹242 cr executed in Q2 — L&T, AurionPro, Sterling & Wilson and Blue Star EPC orders
Slide 19: Orders Won vs Revenue Executed
Order inflow and book-to-bill behind the firm order book · ₹ crore Orders won vs revenue executed (₹ cr) — inflow keeps running ahead of execution 3,122 2,217 2,043 1,910 1,722 1,115 FY25 FY26 H1 FY27 Order inflow (implied) Revenue executed Implied inflow = closing firm order book – opening book + r
Slide 20: Powering India's Landmark Projects
POWERING INDIA'S LANDMARK PROJECTS DICABS POWERING PROGRESS, Qualification-led segments where few Indian manufacturers compete Yamuna Expressway (YEIDA) AL-59 for Khavda | Diamond Power Infrastructure Limited | Q2& H1FY27 | Investor Update 19
Slide 21: A Decade of Demand for MV & EHV Cables
A DECADE OF DEMAND FOR MV & EHV CABLES Multi-year drivers — every one runs for a decade or more Grid build-out India's transmission and inter-state corridor programme is in its largest-ever investment cycle Urban undergrounding City distribution networks moving underground for reliability and safety
Slide 22: Building the Next Diamond
06 - CAPACITY & CAPABILITY BUILDING THE NEXT DIAMOND Seven projects. Funded from QIP proceeds and internal accruals. Zero term debt. One direction — higher voltages. —
Slide 23: India's Largest Single-Location Cables Platform
INDIA'S LARGEST SINGLE-LOCATION CABLES PLATFORM 130-acre integrated campus at Vadodara - 14 manufacturing units - ~2,000 employees Diamond Power Infrastructure Limited | Q2 & H1FY27 | Investor Update 10 MV / EHV lines ~15% of India's capacity; 6 CCV lines with Class 6 clean rooms and inline X-ray me
Slide 24: Integrated from Ingot to Drum, Tested to kV
INTEGRATED FROM INGOT TO DRUM, TESTED TO 765 KV DICABS POWERING PROGRESS, From the ingot to the drum — rod mills, CCV extrusion, stranding and three NABL-accredited HV laboratories A ta CCV / MV lines — Class 6 clean room Copper line — 1,500 MT / month 765 kV UHV test hall Series-resonance & PD test
Slide 25: Seven Projects, One Direction: Higher Voltages
SEVEN PROJECTS, ONE DIRECTION: HIGHER VOLTAGES Capacity programme under execution FY27 Balancing equipment Debottlenecks existing MV/EHV lines — corrugation lines, stranders, drum twister; “73 cr; first to deliver = live Copper cable capacity 1,500 MT/month commissioned (Sep-26); scaling to 2,500 MT
Slide 26: 6th CCV Line Ordered - EHV Capacity to 132 kV
6TH CCV LINE ORDERED — EHV CAPACITY TO 132 KV DICABS VOLTAGE CLASS Up to 132 kV 1Cx630 sq mm base product; 132 kV qualified on the same line TIMELINE Dec 2027 machinery delivery Aug 2027; erection, commissioning and type testing by 31 December 2027 POWERING PROGRESS, WHAT IT ADDS WHY NOW * About 150
Slide 27: Polymer Backward Integration
a ANA = 06 - CAPACITY & CAPABILITY — POLYMER POLYMER BACKWARD INTEGRATION India’s first super-clean cable-grade compound project, ( compound, EHV insulation — under one roof at Vado —_, FF 4 a = 7 py fel) a
Slide 28: Integrated Polymer Complex: Two Phases, One Site
INTEGRATED POLYMER COMPLEX: TWO PHASES, ONE SITE TOTAL PROJECT 2170¢ Phase | 878 cr + Phase Il 892 er Products ogether Machinery CAPACITY Capacity 84,50 Use of output Site FUNDING 2100 cr QIP under General Corporate Purposes, plus ~870 cr term debt for Phase Il; working capital from accruals Project
Slide 29: How the Project Was Built
HOW THE PROJECT WAS BUILT Board Capex Sub-committee evaluation since August 2026 · Polymer Expert mandated to prepare the report from first principles · Dr G L Gupta as HOD, Polymer Project · machinery frozen at the Project Review of 28 September 2026 · Phase I machinery price finalised 12 October ·
Slide 30: Super-Clean 66-400 kV Compound - A First for India
SUPER-CLEAN 66-400 KV COMPOUND — A FIRST FOR INDIA No Indian cable manufacturer makes its own HV / EHV 220 and 400 kV. DICABS POWERING PROGRESS, sulation compound today. Every 66 kV-and-above cable made in India — including ours — is insulated with imported compound from a handful of global supplier
Slide 31: Why Technology Decides: Super-Clean
WHY TECHNOLOGY DECIDES SUPER-CLEAN DICABS POWERING PROGRESS, WHAT "SUPER-CLEAN" MEANS THE PHASE Il LINE CLEAN FROM RESIN TO REEL + XLPE insulation in which metallic particles, gels and ambers + Swiss-engineered reciprocating co-kneader — the low- + Dedicated resin silos and sealed handling — the com
Slide 32: Polymer Project: 30% IRR, Rs 224 Cr NPV
POLYMER PROJECT: 30% IRR, 3224 CR NPV Consolidated — both phases FY27 FY28 Fy29 FY30 FY31 FY32 Capex Revenue (compound at market value) - 204 633 895 1,043 1,043 EBITDA - 95 63.9 101.5 122.8 1215 EBITDA margin - 4.6% 1% 11.3% 11.8% 11.7% Profit after tax - 07 35.1 64.1 80.9 80.8 Cash accruals - 48 4
Slide 33: The Future Lies in Higher Voltages
THE FUTURE LIES IN HIGHER VOLTAGES DICABS POWERING PROGRESS, Every step up the voltage ladder is worth more per kilometre, is harder to copy and takes longer to qualify for 32 kV 66 kV _ 33 kV a Reach and volume Distribution backbone Utility workhorse CCV lines—rampingnow CCV +super-clean VV line —
Slide 34: Revenue guidance and targets FY27-FY29
Revenue (₹ crore) 10,000 7,500 4,300 1,910 1,722 1,115 FY25 FY26 H1 FY27 (actual) FY27 (guidance) FY28 (target) FY29 (target)
Slide 35: Stronger Governance, Broader Ownership
STRONGER GOVERNANCE, BROADER OWNERSHIP Shareholding pattern as on 30 September 2026 - professional leadership strengthened in Q2—Q3 FY27 Shareholding at 30-Sep-2026 m Promoters 74.03% ™@ Mutual funds 8.85% FPls 4.14% ™ Other institutions 2.36% jm Public & others 10.62% INSTITUTIONS 15.4% from under
Slide 36: Registered office and key contacts
Registered office: 17th Floor, Westgate, S.G. Highway, Ahmedabad, Gujarat, India Key contacts:
Diamond Power Infrastructure — Q2 FY2027 Earnings Presentation on 6ix