Diffusion Engineers (DIFFNKG) had a P/E of 28.5× on 6 Nov 2026, below the industry P/E of 33.8×, and the shares are 19% below their 52-week high. Sales and net profit grew 17% and 31% a year over 3 years; its ROCE of 16% is the second-lowest among the 7 largest Specialty Industrial Machinery peers. It carries very little debt, and its dividend yield is 0.4%. It is a small-cap company with a market cap of ₹1,558 Cr, ranked 57th of 138 Specialty Industrial Machinery companies by market cap; the shares rose 12% over the past year.
- ₹410.00
- ₹422.30
- ₹403.00
- ₹417.75
- 88.8K
Health check
- ReturnsIn line
+12.0% over a year, better than 4 of 7 peers.
- Price tagCheaper
P/E 28.5 vs industry 33.8.
- GrowthStrong
Sales +17.0%, profit +31.4% a year over 3 years.
- ProfitabilityWeak
ROCE 16.2% vs peer median 24.8%.
- Balance sheetFair
Debt 0.07× equity, interest covered 39.3×, Piotroski 5 of 9.
- Red flagsNone found
No warning signs in the headline numbers.
Small cap
Market sensitivity
Key metrics
- Market cap
- ₹1,558 Cr
- Small cap
- P/E
- 28.5
- Industry 33.8
- Price to book
- 3.69
- Peers 9.16
- Dividend yield
- 0.36%
- ROE
- 14.1%
- Peers 19.1%
- ROCE
- 16.2%
- Peers 24.8%
- Debt to equity
- 0.07
- Debt ₹31 Cr
- EPS (TTM)
- ₹14.73
- Face value ₹10
- OPM (TTM)
- 13.9%
- Net margin 12.1%
- Sales growth
- +36.5%
- Latest quarter vs a year ago
- Profit growth
- +36.2%
- Latest quarter vs a year ago
- Price to sales
- 3.27
- EV/EBITDA 24.1
Strengths and risks
Strengths
- Practically debt-free.
- Quarterly profit up 36.2% on a year ago.
- Quarterly sales up 36.5% on a year ago.
About Diffusion Engineers
Diffusion Engineers Limited manufactures and sells welding consumables, wear plates and parts, and heavy engineering equipment for various industries in India and internationally. The company provides specialized and customized repairs and reconditioning services for heavy machinery and equipment. It also trades in anti-wear powders, welding, and cutting machinery. The company was incorporated in 1982 and is based in Nagpur, India.
- Headquarters
- Nagpur
- Employees
- 698
- Sector
- Industrials
- ISIN
- INE184O01015
- Website
- diffusionengineers.com
Price range
- Avg volume (3M)
- 3.4 L
- 1-year return
- plus 12.0%
- From 52-week high
- minus 19.3%
Peers · Specialty Industrial Machinery
| Company | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| BHELBharat Heavy Electricals | 418.80 | plus 0.17% | 1,45,829 | 50.6 | 74.6 | 6.6% | 10.1% | 0.22 | 13.5% | plus 56.4% |
| ABBABB India | 6,774.00 | plus 2.20% | 1,43,547 | 92.3 | 68.2 | 28.5% | 13.8% | 0.02 | 15.4% | plus 26.4% |
| SIEMENSSiemens | 3,560.00 | plus 3.73% | 1,26,779 | 86.1 | 59.3 | 16.5% | 10.4% | 0.02 | 3.0% | plus 10.0% |
| CUMMINSINDCummins India | 4,048.80 | minus 0.25% | 1,12,233 | 49.8 | 41.7 | 35.0% | 19.1% | 0.00 | 16.1% | minus 6.0% |
| GVT&DGE Vernova T&D India | 4,018.00 | minus 3.06% | 1,02,879 | 71.3 | 56.6 | 58.5% | 26.5% | 0.01 | 31.1% | plus 31.7% |
| SUZLONSuzlon Energy | 38.80 | plus 0.54% | 53,337 | 23.7 | 17.3 | 24.8% | 16.7% | 0.07 | 41.4% | minus 35.7% |
| AIAENGAIA Engineering | 3,113.60 | minus 2.77% | 29,056 | 23.5 | 19.6 | 19.9% | 27.4% | 0.00 | −3.4% | minus 3.9% |
| DIFFNKGDiffusion Engineers | 419.60 | plus 0.44% | 1,558 | 28.5 | 25.2 | 16.2% | 13.9% | 0.07 | 17.0% | plus 12.0% |
| Median of 7 peers | – | 0.17% | 1,12,233 | 50.6 | 56.6 | 24.8% | 16.7% | 0.02 | 15.4% | 10.0% |
Quarterly results
| ₹ Cr | Jun 25 | Sep 25 | Dec 25 | Mar 26 | Jun 26 |
|---|---|---|---|---|---|
| 80.7 | 83.6 | 101 | 142 | 110 | |
| 70.1 | 71.2 | 87.3 | 121 | 96 | |
| 10.6 | 12.4 | 13.5 | 20.7 | 14.2 | |
| 13.1% | 14.8% | 13.4% | 14.6% | 12.9% | |
| 6.9 | 2.4 | 5.3 | 3 | 8.6 | |
| 0.3 | 0.5 | 0.6 | 0.7 | 0.7 | |
| 1.6 | 1.6 | 1.7 | 1.9 | 1.9 | |
| – | – | −0.7 | – | – | |
| 15.5 | 12.7 | 15.7 | 21.1 | 20.1 | |
| 20.9% | 19.7% | 23.7% | 24.4% | 17.2% | |
| 12.2 | 10.1 | 12.1 | 16 | 16.6 | |
| 3.26 | 2.69 | 3.22 | 4.31 | 4.47 |
Profit & loss
- Sales CAGR 3Y
- +17.0%
- Profit CAGR 3Y
- +31.4%
- EPS CAGR 3Y
- +31.6%
- ROE
- 14.1%
| ₹ Cr | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| 253 | 276 | 333 | 405 | |
| – | +9.2% | +20.8% | +21.5% | |
| 222 | 235 | 284 | 346 | |
| 30.7 | 41.1 | 49.2 | 59.1 | |
| 12.1% | 14.9% | 14.8% | 14.6% | |
| 3.3 | 1.9 | 2.7 | 13 | |
| 1.9 | 1.4 | 1.8 | 1.7 | |
| 3.8 | 4.5 | 5.3 | 6.8 | |
| 0.4 | 4.1 | 2.1 | 1.4 | |
| 28.7 | 41.1 | 46.9 | 65 | |
| 22.7% | 25.0% | 23.2% | 22.5% | |
| 22.2 | 30.7 | 35.9 | 50.3 | |
| – | +38.3% | +17.1% | +40.1% | |
| 5.92 | 8.19 | 9.59 | 13.50 |
Forecast
Balance sheet
| ₹ Cr | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| 3.7 | 28 | 37.4 | 37.4 | |
| 138 | 163 | 331 | 368 | |
| 48.1 | 34.4 | 23.2 | 28.6 | |
| 40.3 | 50.4 | 52.4 | 76.8 | |
| 230 | 276 | 444 | 510 | |
| 65.1 | 91.7 | 101 | 133 | |
| 1.8 | 1.1 | 3.1 | 23 | |
| 17.2 | 25.2 | 36.8 | 41.8 | |
| 4.5 | 7.8 | 127 | 97.6 | |
| 142 | 150 | 177 | 215 | |
| 230 | 276 | 444 | 510 |
Cash flow
| ₹ Cr | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| −4.7 | 36.4 | 8.6 | 22.8 | |
| −13.4 | −35.8 | −18.1 | −40.5 | |
| 19.6 | 2.7 | 129 | −11.8 | |
| 1.5 | 3.3 | 119 | −29.5 | |
| −9.2 | −32.1 | −14.2 | −41 | |
| −13.9 | 4.2 | −5.6 | −18.2 | |
| −1.6 | −1.8 | −1.6 | −5.6 |
Shareholding pattern
- Promoters69.76%
- Public29.44%
- Employee trusts0.80%
| Quarter | Split | Promoters | Public | Promoter change |
|---|---|---|---|---|
| 30 Sep 2026 | 69.76% | 29.44% | 0.00 | |
| 30 Jun 2026 | 69.76% | 29.44% | 0.00 | |
| 31 Mar 2026 | 69.76% | 29.44% | plus 0.06 | |
| 31 Dec 2025 | 69.70% | 29.50% | 0.00 | |
| 30 Sep 2025 | 69.70% | 30.30% | – |
Major shareholders
Filings & events
News
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