Divine Power Energy Ltd(DPEL)

NSE: DPEL

₹ 588-2.22%refreshed 23 Oct, 03:30 pm ISTMarket cap: ₹ 1,468 crUpdated: 24 Oct 2026

About

Divine Power Energy makes bare copper and aluminium wires and strips, along with insulated winding wires and strips, for transformer makers and power distribution companies. It reported revenue of 625.96 (Rs crore) in FY26. It makes these at its Sahibabad plant and at the plant of Vimlesh Industries, its wholly owned subsidiary, with a combined installed capacity of 15,600 MTPA.^[1][2][3][4]

Revenue mix

In FY26, copper products made up 66% of revenue, aluminium products 27% and other products 7%.^[3]
Standalone revenue was INR 41,598.29 lakhs in FY26. The wholly owned subsidiary Vimlesh Industries accounts for the rest of consolidated revenue, about INR 21,000 lakhs.^[4]

Products

The company makes bare copper and aluminium wires and strips, and insulated winding wires and strips covered with paper, cotton or fiberglass.^[1]
Its insulated conductors include paper-covered, fiberglass-insulated, double-cotton-covered and super-enamelled types. The super-enamelled conductors are traded, not made in-house.^[1]
It has started making fiberglass-covered wires and strips for electromagnetic coils, which opens markets such as solar and automobile ancillaries (FY25 annual report).^[1]
Its strips range in cross section from thin (2*1mm) to large (30*5mm, 20*10mm).^[1]
In its FY25 annual report, the company said it plans to enter ancillary industries with tinned copper wires.^[1]

Plants and capacity

Total installed capacity is 15,600 MTPA as of the Q1 FY27 call.^[3]
The Sahibabad plant has 9,600 MTPA of capacity and ran at 54% utilisation, as stated in the Q1 FY27 call.^[3]
The Vimlesh plant has 6,000 MTPA of capacity and ran at 61% utilisation, as stated in the Q1 FY27 call.^[3]
The FY25 annual report puts Sahibabad's capacity at about 300 MT/month for aluminium and 400 MT/month for copper. The plant has extrusion, enamelling, taping, fibre glass, Kapton covering and field coil sections.^[1]
Copper and aluminium rods are bought from NALCO, Birla Copper and Hindalco (FY25 annual report).^[1]

Customers and markets

Customers include TATA Power, BSES, the four UP Vidyut Vitran Nigams and Uttarakhand Power Corporation Limited (FY25 annual report).^[1]
It is approved to supply Indian Railways, BHEL, ABB, Schneider, Panasonic and Legrand. It is ISO 9001:2015 certified and holds UL approval for enamelled copper and aluminium wires.^[1]
Its key markets are Uttar Pradesh, Delhi, Uttarakhand, Haryana, Punjab and Bihar. As of the FY25 annual report, it had recently expanded into Karnataka and Gujarat.^[1]
The FY25 annual report says margins are mainly linked to copper and aluminium prices, and that the company competes with both organised and unorganised players.^[1]

Expansion

The company is adding 2,400 MTPA of continuously transposed conductor (CTC) capacity at Vimlesh, with Rs 30-35 crore of plant and machinery capex. It is aimed at transformer and locomotive makers as an import substitute.^[3]
On 22 Sep 2026, the company received ancillary machinery for the CTC facility. Its initial capacity is 200 MT per month, with full operations targeted by December 2026.^[5]
Management gave a combined revenue outlook of Rs 950-1,000 crore for FY27.^[3]

Recent developments

The Board approved the acquisition of Vimlesh Industries Private Limited to secure its supply of aluminium and copper wires (FY25 annual report).^[1]
A scheme to merge Viraj Upkram into the group was filed in January 2026 and was awaiting approval as of the Q1 FY27 call.^[3]

Market Cap

₹1,468 Cr

High / Low

₹655 / 240

Stock P/E

57.3

Price / Book

13.9

Book Value

₹52

EPS

₹10.7

No. of Shares

2.5 Cr

ROCE

17.2%

ROE

20.7%

OPM

7.8%

Debt / Equity

1.21

Sales

₹626 Cr

Net Profit

₹27 Cr

Promoter holding

63.2%

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