DIFFNKG
Diffusion Engineers share price & financials
- Price
- ₹380.25
- Market cap
- ₹1.5k Cr
- Sector
- Capital Goods
- Calls analysed
- 6
Diffusion Engineers Limited Q1 FY27
What went well
- Consolidated Revenue from operations increased 36.5% YoY to INR110.11 crores (INR1101.08 million) in Q1 FY27, driven by strong demand and execution.
- Consolidated EBITDA (excluding other income) increased 33.76% YoY to INR14.15 crores (INR141.54 million) in Q1 FY27, supported by operating leverage and higher volumes.
- Consolidated Profit After Tax (PAT) increased 35.98% YoY to INR16.68 crores (INR166.77 million) in Q1 FY27, reflecting stronger operating performance.
What to watch
- Consolidated EBITDA margin (excluding other income) moderated slightly to 12.85% in Q1 FY27 from 13.12% in Q1 FY26, primarily due to higher raw material and employee costs.
- Standalone PAT decreased to INR9.98 crores (INR99.79 million) in Q1 FY27 from INR14.20 crores (INR142.04 million) in Q1 FY26, mainly due to a one-time dividend from a subsidiary in the prior year not replicated this quarter.
What Diffusion Engineers Limited does
Diffusion Engineers Limited makes special-purpose welding electrodes, flux-cored wires, wear plates, wear parts and heavy engineering equipment used to protect and extend the life of industrial assets in cement, steel, power, mining, engineering, sugar, defence, railways and oil & gas plants. It sells through a mix of direct customers and OEMs, manufacturing across five units at Nagpur, Maharashtra, and exports to over 35 countries. The company also undertakes fabrication of heavy engineering equipment such as rotors, material hoppers and drive arrangements for core-sector clients, and has begun supplying components linked to the railway (Vande Bharat) supply chain and, via an investment in Tejorup Sunmay Systems, defense (VSHORADS) systems.
Segments
- Heavy Engineering
- Wear Plates and Wear Parts
- Welding Consumables
- Manufacturing units
- 5 units (Unit I-IV plus a proposed expansion facility), all located in Nagpur, Maharashtra
- Export reach
- 35+ countries, including Middle East, Far East, South Asia, Africa, Eastern Europe, Russia and North America
- Projects completed
- 11,000+ across cement, steel, power, engineering, sugar, defence, railways, mining and oil & gas
- Distributor network
- 95+ distributors in India and 9 distributors overseas
- Overseas subsidiaries/JVs
- Singapore (Diffusion Engineers Singapore Pte Ltd), UK (LSN Diffusion Limited JV), Malaysia (Mecdiff Sdn Bhd), Philippines (Diffusion Wear Solutions Philippines Inc), UAE
- R&D and quality accreditation
- DSIR-approved R&D facility at Unit I; NABL-accredited testing lab (ISO/IEC 17025:2017); certified to ISO 9001:2015, ISO 45001:2018 and ISO 14001:2015
Guidance record · Q1 FY27
what the last two calls moved 12 tracked 1 delivered 2 missed 9 open- FY27 Debtor Days went quiet said Q4 FY26 Promised: Reduce debtor days to 80-85 in FY27 Q1 FY27: No update provided on the debtor days metric or progress towards the FY27 target.
- FY27 EBITDA Margin Expansion delayed said Q3 FY26 Promised: 100 to 200 bps EBITDA margin expansion in FY27 Q1 FY27: Guidance for margin expansion was reiterated at 100-200 bps, but the timeline was extended to 'by FY27 and FY28', effectively delaying the original FY27 target.
- FY26 Revenue Growth delivered said Q2 FY26 Promised: Mid to late teens growth for FY26 Q4 FY26: Full year FY26 consolidated revenue grew 21.28% YoY, exceeding the 'mid to late teens' guidance.
All 12 tracked — every revision, and every one management stopped mentioning.
Open the guidance ledgerQuarterly results
Q1 FY27: revenue up 35.8%, net profit up 41.7% against the same quarter last year.
| Line item | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 82 | 79 | 103 | 81 | 84 +2% | 101 +28% | 142 +38% | 110 +36% |
| EBITDA | 11 | 10 | 15 | 11 | 12 +9% | 14 +40% | 21 +40% | 14 +27% |
| Net profit | 9 | 7 | 13 | 12 | 10 +11% | 12 +71% | 16 +23% | 17 +42% |
How to read this
₹ crore, as filed. The percentage beside a figure is the change against the same quarter a year earlier — never the quarter before, which would make every seasonal business look like it collapses and booms each year.
Performance +17.3% 1Y
1Y: ₹383.15 on 10 Sept 2025 → ₹449.5. High ₹485.5 (31 Aug 2026), low ₹236.77 (1 Feb 2026).
How the price took the results
close before → close after
- Q1 FY27
- +7.9%
- 13 Aug
- Q4 FY26
- +3.0%
- 18 May
- Q3 FY26
- +10.9%
- 9 Feb
- Q2 FY26
- −7.6%
- 17 Nov
The move from the last close before each results date to the first close after it — the market's first read on the quarter, not the quarter itself.
Financials, as filed
Revenue grew 21.8% a year over 1 year, FY25 to FY26. Operating margin widened to 14.2%.
| Year ending | FY25 | FY26 |
|---|---|---|
| Revenue | ₹335 Cr | ₹408 Cr |
| Operating profit | ₹45 Cr | ₹58 Cr |
| Operating margin | 13.4% | 14.2% |
| Interest | ₹2 Cr | ₹3 Cr |
| Depreciation | ₹4 Cr | ₹8 Cr |
| Net profit | ₹36 Cr | ₹50 Cr |
| Net margin | 10.7% | 12.3% |
| Cash from operations | ₹9 Cr | ₹23 Cr |
| Free cash flow | ₹-6 Cr | ₹-18 Cr |
| ROCE | 15.0% | 16.0% |
How to read this
From the company's own filings. Margins are computed from the filed sums; a year with an incomplete quarter is left blank rather than estimated.
Balance sheet
| Year ending | FY21 | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|---|
| Equity capital | ₹4 Cr | ₹4 Cr | ₹4 Cr | ₹28 Cr | ₹37 Cr | ₹37 Cr |
| Reserves | ₹101 Cr | ₹117 Cr | ₹138 Cr | ₹163 Cr | ₹348 Cr | ₹368 Cr |
| Borrowings | ₹20 Cr | ₹25 Cr | ₹48 Cr | ₹34 Cr | ₹22 Cr | ₹29 Cr |
| Other liabilities | ₹33 Cr | ₹44 Cr | ₹40 Cr | ₹50 Cr | ₹58 Cr | ₹77 Cr |
| Total liabilities | ₹158 Cr | ₹190 Cr | ₹230 Cr | ₹276 Cr | ₹466 Cr | ₹510 Cr |
| Fixed assets | ₹57 Cr | ₹60 Cr | ₹64 Cr | ₹91 Cr | ₹99 Cr | ₹110 Cr |
| Capital work in progress | ₹0 Cr | ₹0 Cr | ₹2 Cr | ₹1 Cr | ₹9 Cr | ₹23 Cr |
| Investments | ₹12 Cr | ₹19 Cr | ₹20 Cr | ₹29 Cr | ₹44 Cr | ₹43 Cr |
| Other assets | ₹88 Cr | ₹110 Cr | ₹145 Cr | ₹154 Cr | ₹313 Cr | ₹334 Cr |
| Total assets | ₹158 Cr | ₹190 Cr | ₹230 Cr | ₹276 Cr | ₹466 Cr | ₹510 Cr |
How to read this
As filed each year. A line the company does not report — deposits for a non-lender, for instance — is left out rather than shown as a row of dashes.
Who owns it
As disclosed at Jun 2026
Since Jun 2025, the public trimmed −1.40 pp while others added +0.80 pp. The shareholder count shrank 3% to 21,849.
- Promoters
- 69.8%
- FIIs
- 0.7%
- DIIs
- 8.4%
- Public
- 20.3%
- Others
- 0.8%
Since Jun 2025
- Public −1.40 pp
- Others +0.80 pp
- DIIs +0.50 pp
How it drifted, 7 quarters
Ownership split by quarter, oldest first. Dec '24: Promoters 69.7%, FIIs 1.4%, DIIs 8.6%, Public 20.4%.Mar '25: Promoters 69.7%, FIIs 0.0%, DIIs 9.0%, Public 21.3%.Jun '25: Promoters 69.7%, FIIs 0.7%, DIIs 7.9%, Public 21.7%.Sep '25: Promoters 69.7%, FIIs 0.6%, DIIs 7.5%, Public 22.2%.Dec '25: Promoters 69.7%, FIIs 0.1%, DIIs 6.8%, Public 22.6%, Others 0.8%.Mar '26: Promoters 69.8%, FIIs 0.4%, DIIs 8.1%, Public 20.9%, Others 0.8%.Jun '26: Promoters 69.8%, FIIs 0.7%, DIIs 8.4%, Public 20.3%, Others 0.8%.
Who bought this quarter
since Mar 2026
Disclosed holders that added to a position or appeared on the register for the first time, biggest addition first.
- Negen Undiscovered Value Fund AIF +0.08 pp 3.80% held
- Nowelco Industries Private Limited Aabcn7626F newly disclosed 0.00% held
The same filing shows 0 holders trimming and 1 off the list — both are in the register beside this.
Who is on the register
Named in the Jun 2026 filing
Every holder of Diffusion Engineers Limited above SEBI's 1% disclosure line, and what changed since Mar 2026.
| Holder | Stake | Change |
|---|---|---|
| Prashant Garg | 27.96% | unchanged |
| Nitin Garg | 19.78% | unchanged |
| Chitra Garg | 16.38% | unchanged |
| N K Garg Huf | 5.57% | unchanged |
| Negen Undiscovered Value Fund AIF | 3.80% | +0.08 pp |
| HDFC Mutual Fund- HDFC Dividend Yield Fund Mutual fund | 2.46% | unchanged |
| Jatinder Jagdishrai Agarwal | 1.20% | unchanged |
| Neelu Prashant Garg | 0.06% | unchanged |
| Diffusion Super Conditioning Services Private Limited | 0.00% | unchanged |
| S Kumar Fruits | 0.00% | unchanged |
| Lsn Diffusion Limited | 0.00% | unchanged |
| Cenos Health Care Private Limited | 0.00% | unchanged |
A holder disappearing from this list has fallen below the 1% line — it is not necessarily a sale. Percentages are of total shares, as disclosed in the company's own filing. Who was buying across the market this quarter.
Mutual funds in DIFFNKG
Filings to Jul 2026
0 new, 0 added, 0 trimmed, 0 sold out — net +0.00 L shares (+0.0%).
- Held by funds
- ₹35 Cr
- 2 schemes
- Biggest holder
- HDFC Defence Fund
- ₹22 Cr · 0.2% of that fund
| Scheme | Holding | Last month | Held since |
|---|---|---|---|
| HDFC Defence Fund HDFC Mutual Fund | ₹22 Cr | held | Sep '24 |
| HDFC Dividend Yield Fund HDFC Mutual Fund | ₹14 Cr | held | Sep '24 |
HDFC, Nippon India and SBI schemes, from their monthly disclosures. Changes are counted in shares, so a price move never looks like buying or selling.
Mutual funds Jul 2026
0 added, 0 trimmed — net 0 shares (+0.0%)
- Funds are sitting on
- +106%
- vs est. average cost
- Held by funds
- ₹35 Cr
- 2 schemes · ≈ 2.3% of the company
- Biggest holder
- HDFC Defence Fund
- ₹22 Cr · 0.2% of that fund
Shares held by these funds −15%
Sep '24 9.19 L shares Jul '26
What the price assumes
AttractiveTo justify its price of ₹450, this stock must grow earnings at 24% every year for 7 years. Our analysis caps realistic growth at ~39%. At that growth it is worth ₹934 — upside of 108%.
- Growth the price implies
- 23.8% a year
- for 7 years, fading to 4%
- It has actually compounded at
- 38.9% a year
- net profit, FY25–FY26
- The gap
- -0.2 pp
- 108% downside if it only repeats history
All earnings calls (6)
Read the Q1 FY27 call →Learn to analyse Diffusion Engineers Limited
Guides on how to read this kind of business and the numbers that matter.