Diamond Power Infrastructure Limited

About Diamond Power Infrastructure Limited bond.

This comprehensive profile covers key factual information about DIAMOND POWER INFRASTRUCTURE LIMITED. Diamond Power and Infrastructure Limited (DPIL), Vadodara was an integrated solution provider in power T&D space in India. The company had presence across the value chain in T&D space with offerings like conductors, cables (LT, MVC, HT & EHV), transmission towers and EPC services. It had one manufacturing unit located in Vadodara. The company had more than 100 distributors located across 16 Indian states. It sold its products under the “DIACABS” brand. In 2010-11, the company underwent an expansion and ventured towards an integrated product portfolio. The expansion got delayed due to land acquisition and various other factors. The adverse economic scenario in the power sector, coupled with delay in the expansion project led to serious financial dent in the company. The lenders had approved a financial restructuring package for revival of the company including completion of the project with cost overrun. Post restructuring the company has not been able to fulfill the repayment obligations and performance has not been satisfactory. The lead banker BOI has moved to NCLT for the start of bankruptcy proceedings. Hon'ble NCLT, Ahmedabad Bench has initiated Corporate Insolvency Resolution Process (CIRP) against the Corporate Debtor Diamond Power Infrastructure Limited. On 5th February 2022, Committee of Creditors of Diamond Power Infrastructure Limited vide e-voting ending on 5th February, 2022, resolved to approve the Resolution Plan submitted by GSEC Limited in consortium with Shri Rakesh Shah with 89.46% voting majority. The Resolution Professional had filed an application seeking for approval of the Resolution Plan as approved by the COC before the Hon'ble National Company Law Tribunal, Ahmedabad Bench. As per publicly available information, on 22nd June 2022, Hon'ble National Company Law Tribunal, Ahmedabad Bench approved the resolution plan. The Resolution Applicant – M/S. GSEC Ltd. In consortium with Mr. Rakesh Shah has proposed to pay a sum of Rs.501 Cr against the total admitted claim of Rs. 3308.88 Cr. The period of implementation of the Resolution Plan is 60 months from the date of order of approving the plan. EPS in Mar-2024 was 0.32. Current ratio in Mar-2024 was 1.90. Debt/Equity in Mar-2024 was -0.36. Debt/EBITDA in Mar-2024 was 8.12. Interest coverage ratio in Mar-2024 was 3.52. Operating Cashflow to total debt in Mar-2024 was 0.08. Total revenue for Mar-2025(E) was ₹669.40. Net income for Mar-2025(E) stood at ₹113.66. Total assets as of Mar-2024 were ₹1518.12. Operating cash flow for Mar-2024 was ₹27.44. Peers and comparison entities consist of DIAMOND POWER INFRASTRUCTURE LIMITED, Havells India Limited, Polycab India Limited, Kaynes Technology India Limited. As of Dec 2024, promoters hold N/A% while others hold N/A% of equity. Key strengths include: Established track record and established brand presence in Pune supported by experienced promoters; ; . Key risks include: Deferment of Redemption; High dependence on debt and customer advances; Exposure to inherent cyclicality and regulatory risk in the Real Estate industry. Leadership team details include Diksha Sharma (Company Secretary), Himanshu Shah (Non Executive Director), Maheshwar Sahu (Chairman & Ind.Director), Pawan Lohiya (Whole Time Director), Rabindra Nath Nayak (Independent Director), Rakesh Shah (Non Executive Director), Varsha Adhikari (Independent Director). This detailed corporate overview is structured to provide a thorough understanding of all available data points, enhance search visibility, and support investor analysis.