Diamond Power profit surges 4x on cable demand, but CFO exits
FY26 revenue jumped 74% to ₹1,944 cr on strong cable and conductor demand. CFO Samir Naik resigned for personal reasons on the same day the board approved the numbers.
— 3 earlier stories on Diamond Power Infrastructure Ltd. →What's new
- FY26 revenue rose 74% to ₹1,944 cr; net profit climbed to ₹147.6 cr from ₹34.7 cr.
- CFO and whole-time director Samir Naik resigned for personal reasons, effective May 25.
- Deputy CFO Pawan Lohiya was appointed his replacement immediately.
Why this matters
A fourfold jump in annual profit is a sharp inflection for an infrastructure supplier. The CFO departure, announced the same day, is the second headline. The filing cites personal reasons, but a whole-time director leaving at a moment of peak visibility is a governance question that will be asked about.
What we're watching
- Any further disclosure on the reasons for Naik's exit.
- Lohiya's performance as CFO in the upcoming quarters.
- Whether Q4's ₹57.2 cr net profit pace is sustained.
The full read
Diamond Power Infrastructure posted a 74% revenue jump to ₹1,944 crore for FY26. Net profit rose more than fourfold to ₹147.6 crore from ₹34.7 crore a year earlier. The company credits strong demand for its cables and conductors, with Q4 contributing ₹714.6 crore in revenue and ₹57.2 crore in net profit. On the same day the board signed off on these numbers, it accepted the resignation of CFO and whole-time director Samir Naik for personal reasons. Deputy CFO Pawan Lohiya takes over immediately. A profit jump of this magnitude is rare for an infrastructure supplier. The CFO exit, coming on results day, is the second headline. Personal reasons is the stated cause, but a whole-time director leaving at a moment of peak visibility invites questions about what else is in motion.
Questions answered
- How much did Diamond Power earn in FY26, and how does it compare to last year?
- FY26 revenue was ₹1,944 crore, up 74% from the prior year. Net profit rose to ₹147.6 crore from ₹34.7 crore.
- Why did CFO Samir Naik resign, and when does it take effect?
- Naik cited personal reasons for his resignation as CFO and whole-time director. The board accepted it effective May 25, the same day it approved the FY26 results.
- Who replaced Naik, and what is their background?
- Pawan Lohiya, the former deputy CFO, was appointed CFO with immediate effect. The transition is an internal promotion.
- What drove the profit surge?
- The company credits strong demand for its cables and conductors. Q4 alone contributed ₹714.6 crore in revenue and ₹57.2 crore in net profit.
Story so far
All notes on DIACABS →- 26 May 2026 · 2:33 PM IST Diamond Power profit surges 4x on cable demand, but CFO exits
- today Diamond Power adds 150 km of monthly cable capacity for ₹30 cr
- 8d ago Diamond Power's profit surges 355% in FY26 on power-infrastructure demand
- 8d ago Diamond Power profit quadruples. CFO exits in the same filing.