Diffusion Engineers Ltd
Incorporated in 1982, Diffusion Engineers Ltd manufactures welding consumables, wear plates and wear parts, and heavy engineering machinery[1]
- Market Cap ₹ 1,677 Cr.
- Current Price ₹ 448
- High / Low ₹ 520 / 217
- Stock P/E 36.3
- Book Value ₹ 108
- Dividend Yield 0.33 %
- ROCE 14.6 %
- ROE 11.7 %
- Face Value ₹ 10.0
Pros
- Company is almost debt free.
- Company has delivered good profit growth of 32.7% CAGR over last 5 years
Cons
- Stock is trading at 4.15 times its book value
- Company has a low return on equity of 12.1% over last 3 years.
* 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 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 | Mar 2026 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|
| 108 | 152 | 146 | 152 | 196 | 244 | 257 | 316 | 354 | 405 | |
| Sales growth | +41% | -4% | +4% | +29% | +25% | +5% | +23% | +12% | +23% | |
| 94 | 134 | 131 | 133 | 174 | 220 | 227 | 275 | 307 | 353 | |
| Operating Profit | 14 | 18 | 15 | 19 | 22 | 24 | 30 | 41 | 47 | 52 |
| OPM % | 13% | 12% | 10% | 13% | 11% | 10% | 12% | 13% | 13% | 13% |
| 3 | 1 | 2 | 2 | 4 | 4 | 7 | 9 | 18 | 15 | |
| Interest | 2 | 2 | 2 | 2 | 1 | 2 | 2 | 2 | 2 | 3 |
| Depreciation | 3 | 3 | 3 | 4 | 4 | 3 | 4 | 4 | 6 | 6 |
| Profit before tax | 12 | 14 | 13 | 15 | 21 | 23 | 32 | 43 | 57 | 58 |
| Tax % | 21% | 30% | 28% | 31% | 24% | 25% | 26% | 22% | 22% | |
| 9 | 10 | 9 | 10 | 16 | 17 | 23 | 34 | 45 | 46 | |
| EPS in Rs | 3.58 | 3.74 | 3.46 | 3.99 | 6.02 | 6.42 | 8.35 | 9.02 | 11.93 | 12.22 |
| Dividend Payout % | 20% | 13% | 0% | 14% | 9% | 0% | 6% | 17% | 13% |
| Compounded Sales Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | 18% |
| 3 Years: | 13% |
| TTM: | 23% |
| Compounded Profit Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | 33% |
| 3 Years: | 41% |
| TTM: | 9% |
| Stock Price CAGR | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | % |
| 1 Year: | 22% |
| 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 | Mar 2026 | Sep 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 4 | 4 | 4 | 4 | 4 | 4 | 28 | 37 | 37 | 37 |
| Reserves | 77 | 84 | 92 | 101 | 117 | 133 | 150 | 318 | 347 | 367 |
| 17 | 15 | 32 | 19 | 24 | 48 | 34 | 22 | 27 | 29 | |
| 20 | 30 | 40 | 30 | 41 | 40 | 48 | 52 | 65 | 68 | |
| Total Liabilities | 118 | 133 | 168 | 154 | 186 | 224 | 260 | 429 | 477 | 501 |
| 40 | 41 | 60 | 56 | 58 | 61 | 88 | 96 | 108 | 108 | |
| CWIP | 0 | 0 | 0 | 0 | 0 | 2 | 1 | 3 | 22 | 39 |
| Investments | 15 | 16 | 17 | 16 | 24 | 21 | 30 | 36 | 42 | 49 |
| 63 | 76 | 91 | 82 | 103 | 140 | 141 | 294 | 304 | 305 | |
| Total Assets | 118 | 133 | 168 | 154 | 186 | 224 | 260 | 429 | 477 | 501 |
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 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|
| 10 | 14 | 12 | 20 | 6 | -16 | 32 | 5 | 17 | |
| -2 | -6 | -26 | 2 | -10 | -4 | -33 | -18 | -31 | |
| -9 | -8 | 14 | -16 | 3 | 20 | 3 | 129 | -11 | |
| Net Cash Flow | -1 | 1 | -1 | 7 | -2 | -0 | 1 | 116 | -24 |
| Free Cash Flow | 6 | 11 | -11 | 21 | -1 | -24 | 1 | -9 | -20 |
| CFO/EBITDA Share of operating profit converting into cash: CFO (before tax) / Operating Profit | 87% | 104% | 95% | 105% | 45% | -47% | 126% | 33% | 61% |
Ratios
Standalone / View Consolidated
| Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|
| Debtor Days | 100 | 81 | 90 | 98 | 89 | 109 | 92 | 100 | 113 |
| Inventory Days | 186 | 146 | 220 | 117 | 135 | 119 | 120 | 132 | 123 |
| Days Payable | 97 | 73 | 125 | 80 | 90 | 62 | 78 | 68 | 71 |
| Cash Conversion Cycle | 189 | 153 | 185 | 136 | 134 | 166 | 134 | 164 | 166 |
| Working Capital Days | 86 | 68 | 70 | 81 | 68 | 75 | 82 | 114 | 117 |
| ROCE % | 16% | 13% | 14% | 15% | 14% | 16% | 14% | 15% |
Insights
In beta| Jul 2022 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|
| Total Order Book Rs. Mn |
|
|||
| Order Book - Heavy Engineering Rs. Mn |
||||
| Order Book - Wear Plates & Wear Parts Rs. Mn |
||||
| Order Book - Welding Consumables Rs. Mn |
||||
| Countries Served Count |
||||
| Cumulative Projects Completed Count |
||||
| Manufacturing Units Count |
||||
| Total Distributors (Domestic + Overseas) Count |
||||
| Capacity Utilization % |
||||
Extracted by Screener AI
Documents
Announcements
-
Pre- Intimation Of Avendus Spark INDX: Annual Investor Conference 2026
- Management to attend Avendus Spark INDX Annual Investor Conference on 17 November 2026 at 10:00 AM.
-
Announcement under Regulation 30 (LODR)-Earnings Call Transcript
- Transcript of Earnings Conference call held on 05-11-2026
-
Announcement under Regulation 30 (LODR)-Monitoring Agency Report
- CRISIL report for quarter ended September 30, 2026 shows IPO proceeds utilization and delayed capex implementation.
-
Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Outcome
- Audio recording of Q2 FY2026-27 investor and analyst call uploaded on November 05, 2026.
-
Announcement under Regulation 30 (LODR)-Newspaper Publication
- Submission of copy of newspaper advertisement published on November 05, 2026 pursuant to Regulation 47 of SEBI (LODR) Regulations, 2015
Concalls
-
Nov 2026Transcript PPT REC
-
Aug 2026Transcript PPT REC
-
May 2026Transcript PPT
-
Feb 2026Transcript PPT
-
Nov 2025Transcript PPT REC
-
Aug 2025Transcript PPT REC
-
May 2025Transcript PPT REC
-
Feb 2025PPT
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