Diffusion Engineers FY26: Execution Strength Meets a Heavy Engineering Inflection

FY26 consolidated total income from operations was INR406.63 crore, EBITDA excluding other income was INR57.14 crore with margin of 14.05%, and PAT was INR50.41 crore.

Order book was INR174.11 crore as on March 31, 2026 and about INR199.48 crore as on April 30, 2026.

Management guided for more than 20% revenue growth in FY27 and gradual EBITDA margin improvement driven by operating leverage and product mix.

Management stated the new wear plate manufacturing and heavy engineering facility is expected to be commissioned by the end of Q1 2027.

Management indicated a broad mix of about 30% products, 30% wear plates and wear parts, 30% heavy engineering, and 10% services.

Key risks discussed include volatility in alloying raw materials and the time lag in passing through price changes in fixed price contracts, which can cause margin fluctuations.