DPEL
Divine Power share price & financials
- Price
- ₹475.7
- Market cap
- ₹1.6k Cr
- Sector
- Capital Goods
What Divine Power does
Divine Power Energy Limited (DPEL), incorporated in 2001 and listed via SME IPO in July 2024, manufactures bare and insulated copper and aluminium wires and strips used as winding and conductor material in transformers and power-distribution equipment. Its manufacturing facility in Sahibabad, Ghaziabad (Uttar Pradesh) produces winding wires/strips and bare conductors, plus wires insulated with paper, fibreglass, cotton, mica or enamel coatings, sourcing copper and aluminium inputs from suppliers such as NALCO, Birla Copper and Hindalco. It supplies transformer manufacturers and power utilities including Tata Power, BSES and several Uttar Pradesh and Uttarakhand state power distribution companies. The company is expanding into Continuously Transposed Conductors (CTC), a premium transformer-grade conductor, through its wholly-owned subsidiary Vimlesh Industries, for which it is importing dedicated manufacturing equipment.
Segments
- Wires & Strips (Copper and Aluminium)
- Continuously Transposed Conductors (CTC)
- Manufacturing facility
- 1 (Sahibabad, Ghaziabad, Uttar Pradesh)
- Installed capacity — copper wires/strips
- ~500 MT/month
- Installed capacity — aluminium wires/strips
- ~400 MT/month
- Product range
- 8 conductor/insulation types — bare & winding copper/aluminium wire-strip, and paper-covered, fibre-glass, double-cotton, super-enamelled and mica/Nomex-covered conductors
- Key customers
- Tata Power, BSES, and four Uttar Pradesh state discoms (Pashchimanchal, Dakshinanchal, Madhyanchal, Purvanchal Vidyut Vitran Nigam) plus Uttarakhand Power Corporation
- Key raw-material suppliers
- NALCO, Birla Copper, Hindalco
Quarterly results
Q4 FY26: revenue up 190.8%, net profit up 375.0% against the same quarter last year.
| Line item | Q2 FY24 | Q4 FY24 | Q2 FY25 | Q4 FY25 | Q2 FY26 | Q4 FY26 |
|---|---|---|---|---|---|---|
| Revenue | 103 | 119 | 144 | 198 | 279 +171% | 346 +191% |
| EBITDA | 6 | 9 | 9 | 10 | 17 +183% | 34 +278% |
| Net profit | 2 | 4 | 4 | 5 | 8 +300% | 19 +375% |
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 +298.0% 1Y
1Y: ₹159.55 on 10 Sept 2025 → ₹634.95. High ₹641.9 (10 Sept 2026), low ₹159.55 (10 Sept 2025).
Balance sheet
| Year ending | FY21 | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|---|
| Equity capital | ₹0 Cr | ₹0 Cr | ₹16 Cr | ₹16 Cr | ₹25 Cr | ₹25 Cr |
| Reserves | ₹12 Cr | ₹12 Cr | ₹3 Cr | ₹10 Cr | ₹82 Cr | ₹104 Cr |
| Borrowings | ₹45 Cr | ₹45 Cr | ₹48 Cr | ₹58 Cr | ₹87 Cr | ₹156 Cr |
| Other liabilities | ₹5 Cr | ₹6 Cr | ₹6 Cr | ₹5 Cr | ₹29 Cr | ₹52 Cr |
| Total liabilities | ₹62 Cr | ₹63 Cr | ₹73 Cr | ₹89 Cr | ₹224 Cr | ₹337 Cr |
| Fixed assets | ₹5 Cr | ₹6 Cr | ₹8 Cr | ₹11 Cr | ₹11 Cr | ₹79 Cr |
| Capital work in progress | ₹0 Cr | ₹0 Cr | ₹1 Cr | ₹0 Cr | ₹0 Cr | ₹1 Cr |
| Investments | ₹0 Cr | ₹0 Cr | ₹0 Cr | ₹0 Cr | ₹56 Cr | ₹0 Cr |
| Other assets | ₹56 Cr | ₹57 Cr | ₹63 Cr | ₹78 Cr | ₹156 Cr | ₹258 Cr |
| Total assets | ₹62 Cr | ₹63 Cr | ₹73 Cr | ₹89 Cr | ₹224 Cr | ₹337 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 Mar 2026
Since Mar 2025, the public added +10.47 pp while promoters trimmed −10.30 pp. The shareholder count grew 18% to 1,160.
- Promoters
- 63.2%
- FIIs
- 0.0%
- Public
- 36.8%
Since Mar 2025
- Public +10.47 pp
- Promoters −10.30 pp
- DIIs −0.17 pp
How it drifted, 5 quarters
Over this window the public went from 24.0% to 36.8% — +12.8 pp.
Ownership split by quarter, oldest first. Sep '24: Promoters 73.5%, FIIs 0.6%, DIIs 1.9%, Public 24.0%.Dec '24: Promoters 73.5%, FIIs 0.2%, DIIs 0.2%, Public 26.1%.Mar '25: Promoters 73.5%, FIIs 0.0%, DIIs 0.2%, Public 26.3%.Sep '25: Promoters 63.2%, DIIs 0.5%, Public 36.3%.Mar '26: Promoters 63.2%, FIIs 0.0%, Public 36.8%.
Who bought this quarter
since Sep 2025
Disclosed holders that added to a position or appeared on the register for the first time, biggest addition first.
- Rahul Bansal Huf newly disclosed 1.05% held
- Rahul Bansal +0.21 pp 2.02% held
The same filing shows 1 holder trimming and 0 off the list — both are in the register beside this.
Who is on the register
Named in the Mar 2026 filing
Every holder of Divine Power above SEBI's 1% disclosure line, and what changed since Sep 2025.
| Holder | Stake | Change |
|---|---|---|
| Rajesh Giri | 30.75% | unchanged |
| Vikas Talwar | 12.83% | unchanged |
| Dali Giri | 10.77% | unchanged |
| Dev Sharan Giri | 5.13% | unchanged |
| Jitendra Ujamsi Mamtora | 4.10% | −0.71 pp |
| Rahul Bansal | 2.02% | +0.21 pp |
| Arjita Giri | 1.72% | unchanged |
| Anuj Talwar | 1.72% | unchanged |
| Rahul Bansal Huf | 1.05% | newly disclosed |
| Pratibha Talwar | 0.24% | unchanged |
| Chaitanya Giri | 0.04% | unchanged |
| Vikas Talwar Huf | 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.
What the price assumes
- Growth the price implies
- 27.7% a year
- for 7 years, fading to 4%
- It has actually compounded at
- Not enough history
- The gap
- —
- between what it did and what it must do
Learn to analyse Divine Power
Guides on how to read this kind of business and the numbers that matter.