Diffusion Engineers Ltd
Incorporated in 1982, Diffusion Engineers Ltd manufactures welding consumables, wear plates and wear parts, and heavy engineering machinery[1]
- Market Cap ₹ 1,028 Cr.
- Current Price ₹ 275
- High / Low ₹ 418 / 232
- Stock P/E 22.6
- Book Value ₹ 99.8
- Dividend Yield 0.55 %
- 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 2.75 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: | -9% |
| 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% |
Documents
Announcements
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Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Outcome
7h - Audio recording of Q3 FY2025-26 earnings call (quarter/nine months ended Dec 31, 2025) posted online.
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Announcement under Regulation 30 (LODR)-Newspaper Publication
1d - Submission of Copy of Newspaper Advertisement published on February 08, 2026 pursuant to Regulation 47 of SEBI (LODR) Regulations, 2015
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Pre- Intimation Of Participation In Dolat Capital Corporate Conference On Wednesday, 18Th February, 2026
2d - Diffusion Engineers to participate in Dolat Capital Corporate Conference on 18 February 2026 at Grand Hyatt.
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Announcement under Regulation 30 (LODR)-Press Release / Media Release
2d - Q3 FY26 consolidated revenue Rs1,008.24mn, PAT Rs120.11mn; order book Rs1,934.08mn as of Dec 31, 2025.
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Announcement under Regulation 30 (LODR)-Investor Presentation
2d - Investor/Result Presentation for the quarter and nine months ended December 31, 2025
Annual reports
Concalls
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Feb 2026TranscriptAI SummaryPPT
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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