₹2.69 to ₹139: Cable stock turns ₹1 Lakh to ₹52.8 Lakh in just 2 yrs

Synopsis:- A power-equipment stock turned ₹1 lakh into ₹52.8 lakh in two years with a 5,181% rally, supported by 75% revenue growth to ₹438 crore and a 6× profit jump to ₹28 crore. Despite strong execution and a shift toward 55% HT cable sales, elevated P/E of 121 signals higher risk amid recent volatility.

The electrical equipment global market size has grown significantly from $1.66 trillion in 2024 to $1.75 trillion between 2024-25, at a compounded annual growth rate of 5.1% and it will grow to $2.2 trillion in 2029 at a compound annual growth rate (CAGR) of 5.9%. The growth in the forecast period can be attributed to innovations in electrical equipment, rising investments in energy-efficient infrastructure, and favourable government initiatives.

With a market capitalization of Rs 7,359.15 crore, the shares of Diamond Power Infrastructure Ltd closed at Rs 139.65 per share, decreased around 0.96 percent as compared to the previous closing price of Rs 141.00 apiece.

Multibagger Return

The stock has delivered an exceptional multibagger rally, surging over 5,181% in two years from ₹2.69 to ₹139.65. A ₹1 lakh investment would have grown to about ₹52.8 lakh. However, momentum has cooled recently, with gains of ~10.7% in six months and a 7% decline over the past year, highlighting rising volatility after a sharp run-up.

Diamond Power Infrastructure Ltd is trading at a P/E of 121, significantly higher than the industry average of 31.7. This sharp valuation premium suggests strong market optimism and turnaround expectations, but it also indicates elevated risk if earnings growth fails to justify such a wide multiple gap.

Financial & Other Highlights

Diamond Power has delivered a strong financial performance, with revenue surging by 75 percent from Rs 250 crore in Q2FY25 to Rs 438 crore in Q2FY26. Further, during the same time frame, net profit jumped sixfold by 600 percent from Rs 4 crore to Rs 28 crore, highlighting strong operating leverage, improved execution.

Diamond Power Infrastructure Ltd saw a clear shift in its sales mix in Q1 FY26, with HT cables contributing the largest share at 55% (₹16,548 lakh), followed by conductors at 33% (₹9,893 lakh) and LT cables at 12% (₹3,733 lakh). The trend indicates rising traction in higher-value HT cable segments compared to earlier periods.

Diamond Power Infrastructure Ltd outlines an ambitious Vision 2030, targeting double-digit revenue growth (~50%), 150+ global approvals, and 12% market share across categories. The roadmap aims to place the company among the top three players in products and peer-listed firms, signaling a clear push toward scale, credibility, and sustained leadership.

Diamond Power Infrastructure Ltd is an Indian power-sector company engaged in manufacturing cables and conductors for transmission and distribution networks. With a growing focus on high-voltage cables and grid infrastructure, the company is positioning itself as a turnaround-driven player aligned with India’s expanding power and renewable energy ecosystem.

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