Analysts/Institutional Investor Meet/Con. Call Updates

DIAMOND POWER INFRASTRUCTURE LIMITED August 21, 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 – 400 051 Scrip Code: 522163 Scrip Symbol: DIACABS Sub.: Transcript of Earnings Call held on August 14, 2026 Pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, we hereby submit the transcript of the Earnings Call held on Friday, August 14, 2026, to discuss the financial performance and results of the Company for the quarter ended June 30, 2026 (Q1 FY2027). The transcript of the said Earnings Call is enclosed herewith and is also available on the website of the Company at https://dicabs.com/investor/quarterly-results/. This is for your information and records. Thanking you, Yours sincerely, For, Diamond Power Infrastructure Limited Jayesh Patel Company Secretary ICSI M. No.: A14898 Encl: As above Regd. Office & Factory: Vadadala, Phase – II Savli, Vadodara, Gujarat, India-391520 CIN: L31300GJ1992PLC018198 Email: cs@dicabs.com, Website: www.dicabs.com Tel No.- 02667-251354/251516 Fax No.-02267-251202 “Diamond Power Infrastructure Limited Q1 FY27 Earnings Conference Call” August 14, 2026 MANAGEMENT: MR. PAWAN LOHIYA – CHIEF FINANCIAL OFFICER – DIAMOND POWER INFRASTRUCTURE LIMITED MR. UMESH CHHAYA – WHOLE-TIME DIRECTOR – DIAMOND POWER INFRASTRUCTURE LIMITED MR. AMIT BHATNAGAR – HEAD CORPORATE STRATEGY – DIAMOND POWER INFRASTRUCTURE LIMITED MODERATOR: MR. MOHIT SURANA -- MONARCH NETWORTH CAPITAL. Page 1 of 18 Diamond Power Infrastructure Limited August 14, 2026 Moderator: Ladies and gentlemen, good day and welcome to the Diamond Power Infrastructure Limited Q1 FY27 earnings conference call, hosted by Monarch Networth Capital. As a reminder, all participant lines will be in the listen-only mode, and there will be an opportunity for you to ask questions at the end of today’s presentation. Should you need assistance during this conference call, please signal an operator by pressing star then zero on your touchtone phone. Please note that this conference is being recorded. Before we begin, a brief disclaimer. This conference call may contain forward-looking statements about the company which are based on beliefs, opinions, and expectations of the company as on the date of this call. These statements are not the guarantees of future performance and may involve risks and uncertainties that are difficult to predict. I would now like to hand the conference over to Mr. Mohit Surana from Monarch Networth Capital. Thank you, and over to you, sir. Mohit Surana: Good morning, everyone. Welcome to Diamond Power's Q1 FY27 earnings call. Joining us today are Mr. Amit Bhatnagar, Head Corporate Strategy; Mr. Pawan Lohiya, Chief Financial Officer; and Mr. Umesh Chhaya, Whole-Time Director. With that, I will hand over the call to Mr. Bhatnagar for his opening remarks. Over to you, sir. Amit Bhatnagar: Good morning, everyone, and thank you for joining us. I am Amit Bhatnagar, Head of Corporate Strategy at Diamond Power. On behalf of our Directors and the entire leadership team, it is a pleasure to welcome you and to do so at what is genuinely an inflection point in our story. For those of you meeting Diamond Power for the first time, let me place us in a single sentence. We are one of India’s truly integrated manufacturers of power transmission and distribution products in the cable and conductor segment, spanning the full voltage game from low voltage to the extra high voltage. All produced at a single eminent 10-acre integrated complex in Vadodara in the state of Gujarat. From wire rod through to finished extra high voltage cable, the entire value chain sits under one roof. Very few companies in our industry anywhere in the world carry that degree of integration, and it is the foundation of everything I will describe this morning to you. Let me begin where it matters the most, with the quarter’s results and with the conditions in which we have earned them. This year, India’s monsoon arrived early and arrived hard. From this very first week of June, Gujarat saw heavy and sustained rainfall and a large number of our customer’s installation sites were flooded. For a business where so much medium voltage cable is laid, it is arguably the most disruptive weather imaginable. Trenching and cabling simply cannot proceed when the ground is under water. It impacts our product and also impacts our product mix as conductor and LV cables are not impacted much. Our first quarter is always the most seasonally demanding of the year. This year it was more demanding than most. However, we have met our internal target of INR700 crores. And against Page 2 of 18 Diamond Power Infrastructure Limited August 14, 2026 this backdrop, we more than doubled our top line. For the quarter ended 30th June 2026, on a consolidated basis, revenue was INR690 crores. That is roughly $83 million, up 129% year-on- year. EBITDA was INR85 crores, up 172% on a margin of 12.3%, and an expansion of nearly 200 basis points. Profit after tax was INR58.5 crores, up 191%, at a net margin of 8.5%. Earning per share for the quarter was INR1.11 on a face value of INR1. I would ask you to hold these three growth figures together. Revenue up 129%, EBITDA up 172%, profit up 191% because the pattern within these is the real message. Our profit is growing considerably faster than our revenue. That is operating leverage doing precisely what it should. As our newer and higher value production lines mature and carry most of the load, to have delivered growth of this magnitude through a flood-affected monsoon quarter is not a seasonal accident. It is the evidence of the structural momentum now the Diamond Power business is gathering. Let me say a word specifically about margins, because there is an important story beneath the headline. Raw materials, aluminum and copper both stood firm through the quarter and a portion of our order book is executed at prices agreed before this input moved, so the pass-through as per percentage of our sales reaches us with a lag. Neither of these is structural. Mix normalizes as the high voltage lines fill throughout the year and metal cost base over any reasonable horizon, a pass-through in the way our contracts are written. We are completely back-to-back on passing the increases in metal and polymers to all our customers. What I would draw your attention to is despite these gross margin pressures, our EBITDA margin still expanded by close to 200 basis points to 12.3%. That is precisely the operating leverage I described earlier. As revenue more than doubled our fixed cost base, people, plant, overheads, power was spread on a far larger top line and the gain in absorption more than offset the compression higher on the P&L. Put plainly, we absorbed a weaker gross margin and still delivered a materially stronger operating margin. As mix and utilization both improve from here, we expect the gross margin headwind to ease and the operating leverage to compound on the top of it. You will certainly see its impact in the next three quarters. One brief note on the accounts, so nothing surprises you. Our tax charge for this quarter is negligible as we continue to carry forward accumulated losses from the period preceding our resolution plan. A benefit that will taper over time as profitability continues, but is there with us at least for the next two years. A second note on the comparative. In our prior accounts, you would see an exceptional item, a provision for depreciation related to earlier periods, which had not been charged in the years Page 3 of 18 Diamond Power Infrastructure Limited August 14, 2026 surrounding our resolution plan and was recognized as a one-time catch-up once the plan was implemented. I flag it to you for a simple reason. It is a non-cas [Showing first 8,000 characters — download PDF for full document]