Diffusion Engineers Ltd
Incorporated in 1982, Diffusion Engineers Ltd manufactures welding consumables, wear plates and wear parts, and heavy engineering machinery[1]
- Market Cap ₹ 954 Cr.
- Current Price ₹ 255
- High / Low ₹ 418 / 217
- Stock P/E 21.0
- Book Value ₹ 99.8
- Dividend Yield 0.59 %
- ROCE 14.2 %
- ROE 11.6 %
- Face Value ₹ 10.0
Pros
- Company has reduced debt.
- Company is almost debt free.
- Company has delivered good profit growth of 27.8% CAGR over last 5 years
Cons
- Stock is trading at 2.55 times its book value
- Company has a low return on equity of 12.4% over last 3 years.
- Earnings include an other income of Rs.20.8 Cr.
* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.
Peer comparison
Industrials Capital Goods Industrial Products Other Industrial Products
Part of BSE Allcap BSE Industrials
Quarterly Results
Standalone Figures in Rs. Crores / View Consolidated
Profit & Loss
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | TTM | |
|---|---|---|---|---|---|---|---|---|---|
| 108 | 152 | 146 | 152 | 196 | 244 | 257 | 316 | 342 | |
| 94 | 134 | 131 | 133 | 174 | 220 | 227 | 275 | 297 | |
| Operating Profit | 14 | 18 | 15 | 19 | 22 | 24 | 30 | 41 | 45 |
| OPM % | 13% | 12% | 10% | 13% | 11% | 10% | 12% | 13% | 13% |
| 3 | 1 | 2 | 2 | 4 | 4 | 7 | 9 | 21 | |
| Interest | 2 | 2 | 2 | 2 | 1 | 2 | 2 | 2 | 2 |
| Depreciation | 3 | 3 | 3 | 4 | 4 | 3 | 4 | 4 | 5 |
| Profit before tax | 12 | 14 | 13 | 15 | 21 | 23 | 32 | 43 | 58 |
| Tax % | 21% | 30% | 28% | 31% | 24% | 25% | 26% | 22% | |
| 9 | 10 | 9 | 10 | 16 | 17 | 23 | 34 | 45 | |
| EPS in Rs | 25.12 | 26.25 | 24.24 | 27.99 | 42.17 | 45.00 | 8.35 | 9.02 | 12.02 |
| Dividend Payout % | 20% | 13% | 0% | 14% | 9% | 0% | 6% | 17% |
| Compounded Sales Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | 17% |
| 3 Years: | 17% |
| TTM: | 20% |
| Compounded Profit Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | 28% |
| 3 Years: | 28% |
| TTM: | 55% |
| Stock Price CAGR | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | % |
| 1 Year: | -4% |
| Return on Equity | |
|---|---|
| 10 Years: | % |
| 5 Years: | 12% |
| 3 Years: | 12% |
| Last Year: | 12% |
Balance Sheet
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Sep 2025 | |
|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 4 | 4 | 4 | 4 | 4 | 4 | 28 | 37 | 37 |
| Reserves | 77 | 84 | 92 | 101 | 117 | 133 | 150 | 318 | 336 |
| 17 | 15 | 32 | 19 | 24 | 48 | 34 | 22 | 21 | |
| 20 | 30 | 40 | 30 | 41 | 40 | 48 | 52 | 53 | |
| Total Liabilities | 118 | 133 | 168 | 154 | 186 | 224 | 260 | 429 | 448 |
| 40 | 41 | 60 | 56 | 58 | 61 | 88 | 96 | 97 | |
| CWIP | 0 | 0 | 0 | 0 | 0 | 2 | 1 | 3 | 9 |
| Investments | 15 | 16 | 17 | 16 | 24 | 21 | 30 | 36 | 44 |
| 63 | 76 | 91 | 82 | 103 | 140 | 141 | 294 | 297 | |
| Total Assets | 118 | 133 | 168 | 154 | 186 | 224 | 260 | 429 | 448 |
Cash Flows
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|
| 10 | 14 | 12 | 20 | 6 | -16 | 32 | 5 | |
| -2 | -6 | -26 | 2 | -10 | -4 | -33 | -18 | |
| -9 | -8 | 14 | -16 | 3 | 20 | 3 | 129 | |
| Net Cash Flow | -1 | 1 | -1 | 7 | -2 | -0 | 1 | 116 |
Ratios
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|
| Debtor Days | 100 | 81 | 90 | 98 | 89 | 109 | 92 | 100 |
| Inventory Days | 186 | 146 | 220 | 117 | 135 | 119 | 120 | 132 |
| Days Payable | 97 | 73 | 125 | 80 | 90 | 62 | 78 | 68 |
| Cash Conversion Cycle | 189 | 153 | 185 | 136 | 134 | 166 | 134 | 164 |
| Working Capital Days | 86 | 68 | 70 | 81 | 68 | 75 | 82 | 114 |
| ROCE % | 16% | 13% | 14% | 15% | 14% | 16% | 14% |
Insights
In beta| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|---|
| Net Working Capital Cycle Days |
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| Order Book INR Million |
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| Capacity Utilization % |
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| Number of Domestic Distributors Number |
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Documents
Announcements
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Pre- Intimation Of Investor Meet And Plant Visit On Tuesday, 24Th March, 2026.
2d - Management meeting and plant visit with Nirbhay Investment Opportunities Fund on 24 March 2026; no UPSI.
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Post-Intimation Of Investor Meet And Plant Visit On Thursday, March 12, 2026
12 Mar - Investor and analyst meeting with plant visit at Nagpur on 12 March 2026; no UPSI shared.
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Post- Intimation Of Participation In Bharat Connect Conference By Arihant Capital On Monday, 09Th March, 2026 At 01.00 P.M
9 Mar - Management participated virtually in Arihant Capital Bharat Connect Conference on 09 Mar 2026 at 1:00 PM; no UPSI.
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Pre- Intimation Of Investor Meet And Plant Visit On Thursday, 12Th March, 2026
2 Mar - Diffusion Engineers: investor meeting and plant visit on 12 March 2026 from 10:00 AM.
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Pre- Intimation Of Participation In Bharat Connect Conference By Arihant Capital On Monday, 09Th March, 2026 At 01.00 P.M
2 Mar - Diffusion Engineers to participate virtually in Arihant Capital Bharat Connect Conference on 9 March 2026 at 1:00 PM.
Annual reports
Concalls
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Feb 2026Transcript PPT
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Nov 2025Transcript PPT REC
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Aug 2025Transcript PPT REC
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May 2025Transcript PPT REC
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Feb 2025TranscriptAI SummaryPPT
Business Overview:[1]
DEL is in the business of welding consumables like electrodes, flux-cored wires, etc. It also offers solutions for reconditioning /repair of critical equipment used in manufacturing plants of cement, power, steel, etc. The company also manufactures wear plates and some heavy machinery like plasma cutting machines, etc