Diamond Power Infrastructure Ltd

Diamond Power Infrastructure Limited — Trading Window closed from Oct 1, 2026 till completion of 48 hours after the declaration of Unaudited Financial Results of the Company for the quarter half year ending September 30, 2026; trading window shall re-open thereafter.

AGM details

• AGM held on 25 September 2026 at 3:30 PM via VC/OAVM.
• Record date for e-voting: 18 September 2026.

Key resolutions

• Ordinary—Adopt standalone financial statements; passed with requisite majority.
• Ordinary—Adopt consolidated financial statements; passed with requisite majority.
• Ordinary—Re-appointment of Rakesh Shah; retired by rotation; passed.
• Ordinary—Appointment of Umeshkumar Chhaya as Director; passed.
• Special—Appointment of Umeshkumar Chhaya as Whole-time Director; passed.
• Ordinary—Ratification of remuneration of Cost Auditors for FY 2026-27; passed.
• Special—Shifting registered office from Vadodara to Ahmedabad; passed.
• Special—Remuneration payable to Maheswar Sahu for FY 2026-27; passed.
• Special—Remuneration payable to Rabindra Nayak for FY 2026-27; passed.

Voting results

• All resolutions passed by requisite majority; no failures.
• Ordinary: resolutions 1,2,3,4,6; Special: 5,7,8,9 passed.
• Some minor dissent observed in a few resolutions.

Director changes

• Rakesh Shah re-appointed as Director (retiring by rotation).
• Umeshkumar Chhaya appointed Director and Whole-time Director.

Auditors

• Cost Auditor remuneration for FY 2026-27 ratified.

Material related party transactions

• No material RPTs disclosed.

Other material approvals

• Shifting of Registered Office to Ahmedabad approved.
• Remuneration approvals for independent directors approved.

agm details

• AGM held Sept 25, 2026 at 3:30 PM via VC/OAVM.

key resolutions

• Adopt standalone financial statements for FY 2025-26.
• Adopt consolidated financial statements for FY 2025-26.
• Re-appoint Rakesh Shah as Director (retiring by rotation).
• Appoint Umeshkumar Chhaya as Director.
• Appoint Umeshkumar Chhaya as Whole-time Director.
• Ratify Cost Auditor remuneration for FY 2026-27.
• Shift Registered Office from Vadodara to Ahmedabad.
• Approve remuneration to Maheswar Sahu, Chairman and Independent Director.
• Approve remuneration to Rabindra Nath Nayak, Non-Executive Independent Director.

voting status

• Voting results to be declared by Sep 29, 2026.

directors & management

• Rakesh Shah to be re-appointed as Director (rotating).
• Umeshkumar Chhaya appointed as Director.
• Umeshkumar Chhaya appointed as Whole-time Director.

auditors

• Remuneration of Cost Auditor ratified for FY 2026-27.
• Statutory and Secretarial audits highlighted in report with qualifications.

other material approvals

• Shift of registered office to Ahmedabad; related governance approvals.

AGM details

• AGM held on 25 September 2026 at 3:30 PM via VC/OAVM.
• Deemed venue: Registered Office, Vadodara.
• Remote e-voting from 22 to 24 September 2026; voting cutoff 18 September 2026.
• Voting results to be declared by 29 September 2026.

Resolutions put to vote

• Ordinary: Adoption of standalone financial statements for 2025-26; voting results awaited.
• Ordinary: Adoption of consolidated financial statements for 2025-26; voting results awaited.
• Special: Re-appointment of Rakesh Ramanlal Shah as Director liable to retire by rotation; voting results awaited.
• Ordinary: Appointment of Umeshkumar Chhaya as Director; voting results awaited.
• Special: Appointment of Umeshkumar Chhaya as Whole-time Director; voting results awaited.
• Ordinary: Ratification of remuneration payable to Cost Auditor for 2026-27; voting results awaited.
• Special: Shifting of Registered Office from Vadodara to Ahmedabad; voting results awaited.
• Special: Approval of remuneration payable to Maheswar Sahu, Chairman and Independent Director; voting results awaited.
• Special: Approval of remuneration payable to Rabindra Nath Nayak, Non-Executive Independent Director; voting results awaited.

Directors appointed/re-appointed

• Re-appointment of Rakesh Ramanlal Shah as Director by rotation.
• Appointment of Umeshkumar Chhaya as Director.
• Appointment of Umeshkumar Chhaya as Whole-time Director.

Auditors and reports

• Statutory auditors Naresh & Co. issued a qualified report on fixed assets and impairment.
• Secretarial auditor Ashish Shah & Associates issued a qualified report on MPS compliance.
• Cost auditors Dalwadi & Associates issued reports with qualifications; board explanations in Directors' Report.
• Remuneration for Cost Auditor to be ratified for 2026-27.

Order win details

• Awarding entity is Polite Powertech Limited for Gujarat underground cabling projects.
• Scope: supply of 11 kV XLPE-insulated MV cables for urban underground networks (approx. 655 km).
• Value: ₹116.49 crore including GST; base value ₹98.72 crore.
• Domestic entity; delivery to Gujarat utilities via EPC contractor.
• Execution over next 12 months in lots against manufacturing clearances with testing.
• Terms: variable-price basis with utility-specified inspections and clearances.
• No promoter-group interest; not a related party transaction.

Order details

• Awarding entity: a domestic EPC contractor for MSEDCL project.
• End client: Maharashtra State Electricity Distribution Company Limited (MSEDCL) in Maharashtra.
• Nature and scope: supply MV & LV XLPE underground cables, conductors, and control cables.
• Order value: ₹263.25 crore (inclusive of GST).
• Pricing: variable basis linked to aluminium and copper prices and currency; quantities indicative; site survey pending.
• Delivery: per delivery schedule after approval of GTP and drawings by MSEDCL.
• Guarantee: 66 months from supply or 60 months from commissioning, whichever earlier.
• Manufacturing: at the Vadadala facility, Vadodara, Gujarat.
• Promoter/related party: no interest; order at arm's length; ordinary course.
• Material impact: strengthens MV cable order book and enhances revenue visibility with state utilities.

Order details

• Awarding entity: a domestic EPC contractor for MSEDCL urban infrastructure project.
• End client: Maharashtra State Electricity Distribution Company Limited (MSEDCL), Maharashtra.
• Nature/scope: supply MV & LV XLPE underground cables, conductors, and control cables per MSEDCL specs.
• Value: ₹263.25 crore inclusive of GST.
• Domestic/international: Domestic.
• Timeline: delivery schedule to be issued after MSEDCL approves GTP and drawings.
• Pricing terms: pricing on a variable basis linked to aluminium and copper prices and currency.
• Guarantee: 66 months from supply or 60 months from commissioning, whichever earlier.
• Related party/arm's length: order received in ordinary course of business and at arm's length.
• Impact: expands MV cable order book and strengthens ties with state utilities.

Award details

• Letter of Award dated 3 September 2026 from Adani Electricity Mumbai Limited.
• Awarding entity is Adani Electricity Mumbai Limited, a domestic recipient.
• Supply of specialised MV cables totaling ~871 km (33 kV/11 kV MV and 1.1 kV LV).
• Total value: ₹179.43 crore inclusive of GST.
• Delivery schedule: deliveries commence on manufacturing clearance, at ~50 km per month.
• Payment terms: prices include packing/forwarding, freight, and transit insurance.
• Contract type: formal purchase order to be issued against the LOA.
• Related party status: promoter group has no interest; order at arm's length.
• Repeat award: third consecutive year.

Exit from NCLT framework

• Prepaid ₹501 crore upfront cash and ₹1,900 crore bonds; total ₹2,401 crore.
• All legacy legal matters cleared; promoters' obligations under the resolution plan fulfilled.
• Company eligible for credit ratings and bank financing; gross block free of resolution-era charges.
• No legacy overhang; CBI/ED proceedings cleared.
• Turnaround complete; profitability returning; growth focus on MV/EHV capacity and backward integration.