Diamant Infrastructure Limited

Industrials — Engineering & Construction · BSE

₹0.77₹0.00 (0.00%)

DalalBaazaar Score

51 / 100

🟡 Moderate

Verdict

CAUTION

Risk

High

Driven by the company is currently loss-making, micro-cap size, which brings thin liquidity, falling profits.

In simple words: The company is currently losing money. The direction of profits is the main factor to watch.

Decision support, not a buy or sell call.

As of 18 Oct 2026, 7:44 pm

Understanding the Business

Company site ↗

The 60-second version of Diamant Infrastructure Limited — what it does, how it earns, and who it competes with, before any of the numbers below.

What does this company do?

Diamant Infrastructure Limited engages in the execution of various contracts of road projects in India. The company operates through Infrastructure and Trading segments. It also undertakes SFRC rainwater drains and civil contracts.

IndustryEngineering & Construction

SectorIndustrials

Who are its competitors?

The closest listed comparisons in its industry are LARSEN & TOUBRO LTD., ADANI PORT & SEZ LTD, SIEMENS LTD. These are the companies its valuation and returns are measured against elsewhere in this report.

Compared side by side in Peers ↓

What is its competitive advantage?Little sign of one

Returns on capital of 0.2% are at or below what the capital likely costs. That is the financial pattern of a business competing largely on price, where advantage has to come from execution rather than position.

Peer median ROE14.1%

DalalBaazaar Score

51/ 100

Moderate

Weighted across six categories. Every point is explained below.

✗ Return on equity is negative

Quality vs. Valuation

Company Quality

45/ 100

Average

How good the business is, ignoring the share price entirely.

Valuation

40/ 100

Expensive

What you are being asked to pay, ignoring how good the business is.

A reasonable business at a reasonable price — neither the quality nor the valuation stands out in either direction.

vs. its own history

Not enough price and earnings history

vs. sector peers

Not enough peers with a usable P/E

vs. generic bands

No P/E available

EV/EBITDA

147.2x

PEG

—

What's Good / What's Bad

🟢 What's Going Well2

Debt is being paid down
Total debt is down 37% over 3 years.
Cash generation is improving
Free cash flow is up 18425% over 3 years.

🔴 What Needs Attention0

Nothing stands out as clearly deteriorating on the years of data available.

Red Flags

1 item require attention · 1 high

🔴The company is lossmakingFinancial
Net profit of -₹0 Cr in the latest reported year.

Investment Thesis

🟢 Bull CaseWhat could make this work?

Deleveraging frees up earnings
Debt is down 37% over 3 years. Every rupee of interest not paid drops to the bottom line, so profit can grow even if revenue does not.

🔴 Bear CaseWhat could go wrong?

The debt load needs earnings to hold up
Debt is 107.0x EBITDA. At that level a downturn in earnings turns a manageable balance sheet into a refinancing problem, and lenders get paid before shareholders.
Earnings are hard to forecast
Profit has swung sharply from year to year, so any single year — good or bad — is a weak guide to the next. Cyclical earnings deserve lower multiples for that reason.
Size brings its own risk
Micro Cap businesses are thinly traded, so exits are harder in a falling market and single events move the price more than they would for a larger company.

🟡 Key Things to WatchMeasurable tripwires, set against where this company stands today

1Debt / EBITDA falls below 3x✗ 107.0x
Already stretched, so this is a reduction target rather than a level to hold. Around 3x is where lenders typically start attaching conditions.
2Free cash flow remains positive✓ ₹4 Cr
Profit that never becomes cash eventually stops being profit.
3ROCE stays above 8%✗ 0.2%
Falling returns on capital are usually competition arriving, and show up here before they reach the margin.

Investment Checklist

4 / 9 checks passed

✗ Strong return on equity (ROE ≥ 15%)
✗ Strong return on capital employed (ROCE ≥ 15%)
✗ Healthy net margin (≥ 10%)
✓ Generates positive free cash flow
✓ Manageable leverage (Debt/Equity < 1.0)
✓ Adequate short-term liquidity (Current Ratio ≥ 1.0)
✗ Profit growing year-over-year
✓ Not buying right at the 52-week high
✗ Short-term technical trend isn't bearish

Price history

Quick Metrics

2 good · 5 neutral · 4 weak

Market Cap

₹3 Cr

Micro Cap

Smaller company — thin liquidity and deep drawdowns are normal here

P/E (Trailing)

Not available

No data

Source didn't return this field

P/B Ratio

0.23x

Reasonable

Reasonable against the company's book value

EPS (TTM)

₹0

Loss-making

Negative earnings per share — the business is losing money

ROE

-0.6%

Weak

Weak capital efficiency

ROCE

0.2%

Weak

Low return on total capital employed

Debt/Equity

0.65x

Moderate

Moderate leverage

Revenue Growth (YoY)

Not available

No data

Source didn't return this field

Profit Growth (YoY)

-168.6%

Falling

Profits are shrinking

Dividend Yield

None

No dividend yield reported — usually means no payout, but verify if one was recently initiated

Free Cash Flow

₹4 Cr

Cash generative

Generates cash even after funding its capex

More Metrics

Operating Margin

-13.5%

Weak

Thin margins leave little room for error

Net Margin

-28.4%

Weak

Very little revenue reaches the bottom line

Current Ratio

2.21

Comfortable

Healthy short-term liquidity

Beta (vs Nifty)

0.10

Defensive

Steadier than the market

52W Range Position

26%

Mid-range

Technical Snapshot

SMA 20 / SMA 50

0.7 / 0.8

Bearish alignment (short < long)

Price vs SMA 200

Below

Long-term downtrend

RSI (14)

62.5

Neutral momentum

Financial Trend (4-Year)

Metric	FY23	FY24	FY25	FY26	3Y CAGR
EBITDA	₹1 Cr	₹0 Cr	₹0 Cr	₹0 Cr	-54.1%
PAT (Net Profit)	-₹0 Cr	-₹0 Cr	₹0 Cr	-₹0 Cr	—
EPS	₹-0.02	₹-0.04	₹0.03	₹-0.02	—
ROE	-0.8%	-1.2%	0.8%	-0.6%	—
ROCE	-0.0%	-0.5%	0.7%	0.2%	—
Total Debt	₹11 Cr	₹11 Cr	₹11 Cr	₹7 Cr	-14.4%
Free Cash Flow	₹0 Cr	₹0 Cr	₹0 Cr	₹4 Cr	+470.1%

🔴 EBITDA has shrunk at 54.1% a year over 3 years.

🟡 ROE has held roughly flat at -0.6% over 3 years.

🟡 ROCE has held roughly flat at 0.2% over 3 years.

🟢 Total Debt has shrunk at 14.4% a year over 3 years.

🟢 Free Cash Flow has grown at 470.1% a year over 3 years.

Balance Sheet & Cash Flow — FY2026

Total Assets

₹21 Cr

Total Liabilities

₹10 Cr

Cash & Equivalents

₹0 Cr

Operating Cash Flow

₹4 Cr

Capex

—

Shareholding (proxy)

Institutional Holding

0.0%

Insider Holding

37.7%

Corporate Actions

Ex-Dividend Date

05 Jul 2007

Peer Comparison

Company	P/E	ROE
LARSEN & TOUBRO LTD.	30.1x	15.2%
ADANI PORT & SEZ LTD	29.9x	14.1%
SIEMENS LTD	88.8x	10.5%

Recent News

1 positive1 negative4 general

Price performance

Yahoo Finance UK, 18 Oct

Diamant Infrastructure AGM sees 99.9% support for director appointments

scanx.trade, 03 Oct

Lakshmi Finance & Industrial Corporation standalone net profit rises 8.02% in the June 2026 quarter

Business Standard, 12 AugResults

🟢Potentially positiveReported improvement. Check whether it came from volume, price or a one-off item before treating it as a trend.

Global Defence Industries (BSE:512091) - Stock Analysis

Simply Wall Street, 03 Jul

DIAMANT Stock Price and Chart — BSE:DIAMANT

TradingView, 01 Aug

Ambalal Sarabhai Enterprises consolidated net profit declines 51.58% in the June 2026 quarter

Business Standard, 12 AugResults

🔴Potentially negativeReported deterioration, which feeds the growth and margin inputs on this page directly.

Watch Items

Cross-check against the company's latest quarterly filing / investor presentation before acting.
2 metrics couldn't be retrieved for this stock — this is more common for smaller or thinly-covered listings.

DalalBaazaar Thesis

StrongFinancial Health · Valuation

MiddlingGrowth

WeakBusiness Quality · Profitability · Risk

Points for each in the Score ↑

Unremarkable in both directions

A reasonable business at a reasonable price. Nothing here is alarming and nothing is compelling, which usually means the decision rests on things this data cannot see — the industry's direction, management's intent, and what else is available to you. 1 high-severity red flag sits above this conclusion and should be read first.

2 of 3 tripwires tripped — Debt / EBITDA falls below 3x; ROCE stays above 8% · see Key things to watch ↑