Diamond Power Infrastructure Secures ₹116.49 Crore Cable Orders for Gujarat Projects
Diamond Power Infrastructure Limited (BSE: 522163; NSE: DIACABS) has received orders worth approximately ₹116.49 crore including GST for the supply of 11 kV XLPE-insulated medium-voltage power cables for underground distribution projects in Gujarat.
The orders were received from Polite Powertech Limited, an EPC contractor executing underground cabling projects for Gujarat’s power distribution utilities.
The basic order value excluding GST stands at approximately ₹98.72 crore.
655 Km of 11 kV Power Cables to Be Supplied
The orders cover approximately 655 km of 11 kV three-core aluminium XLPE-insulated power cables.
The cables will be supplied in different sizes, including:
- 3C x 300 sq mm
- 3C x 240 sq mm
- 3C x 95 sq mm
- 3C x 70 sq mm
The projects are spread across the Bhavnagar and Ahmedabad regions and are linked to underground power-distribution work for Paschim Gujarat Vij Company Limited (PGVCL) and Uttar Gujarat Vij Company Limited (UGVCL).
The cables will be manufactured at Diamond Power Infrastructure’s integrated facility near Vadodara.
₹79.83 Crore Order Subject to Letter of Award
While the total announced order value is ₹116.49 crore including GST, investors should note an important condition attached to one of the purchase orders.
The ₹79.83 crore order for the Kathwada and Shilaj projects in Ahmedabad is subject to the EPC contractor receiving the Letter of Award from UGVCL.
The remaining orders cover three projects in Bhavnagar.
The order-wise details disclosed by the company are:
| Project | Utility | Cable Quantity | Order Value Including GST |
|---|---|---|---|
| Chitra-2, Bhavnagar | PGVCL | 27,430 metres | ₹4.49 crore |
| Kumbharwada, Bhavnagar | PGVCL | 71,183 metres | ₹14.27 crore |
| Diamond Chowk, Bhavnagar | PGVCL | 88,966 metres | ₹17.89 crore |
| Kathwada & Shilaj, Ahmedabad* | UGVCL | 4,67,777 metres | ₹79.83 crore |
| Total | 6,55,356 metres | ₹116.49 crore |
Subject to receipt of the Letter of Award from UGVCL by the EPC contractor.
Orders to Be Executed Over the Next 12 Months
Diamond Power Infrastructure said the orders will be executed in lots against manufacturing clearances issued by the customer.
The expected execution period is approximately the next 12 months, subject to the applicable manufacturing, inspection and testing requirements.
The orders are on a variable-price basis, meaning the final realisation will be linked to the applicable price-variation formula rather than being fixed entirely at the base order value.
This is relevant because copper and aluminium prices can affect cable manufacturers’ reported order values and margins.
Gujarat’s Underground Power Network Creates Demand
The orders are linked to underground distribution projects in Gujarat’s urban areas.
Underground cabling can help utilities improve distribution-network reliability and reduce exposure to certain above-ground infrastructure risks.
For Diamond Power Infrastructure, the projects provide additional demand visibility for its medium-voltage cable business.
The company manufactures power cables and conductors across the extra-high voltage (EHV), high voltage (HV), medium voltage (MV) and low voltage (LV) segments.
Integrated Manufacturing Facility Near Vadodara
Diamond Power Infrastructure said the cables for these orders will be manufactured at its integrated plant near Vadodara.
The company’s manufacturing operations have an installed capacity of approximately 2.50 lakh tonnes per annum across 125 operational machines, according to the company.
It also has backward integration through four in-house aluminium rod mills and captive wind power.
This integrated manufacturing setup could support the company’s ability to manufacture cables and conductors across multiple applications.
Company Exits NCLT Framework After Completing Resolution Obligations
Another important development in the company’s recent corporate history is its exit from the NCLT framework.
Diamond Power Infrastructure said it prepaid its resolution-plan obligations in full in September 2026, a year ahead of schedule, and has subsequently exited the NCLT mechanism.
The company is now seeking to scale its MV and EHV cable business and build a more diversified order book.
The latest Gujarat orders therefore come at an important stage in the company’s post-resolution business expansion.
What Investors Should Watch
1. Order Execution
The company expects the orders to be executed over approximately 12 months. Investors will need to track how quickly these orders translate into revenue.
2. ₹79.83 Crore Conditional Order
The Ahmedabad order worth ₹79.83 crore including GST is subject to the EPC contractor receiving the Letter of Award from UGVCL. Confirmation of this condition will be an important development.
3. Aluminium Prices and Margins
The orders are based on a variable-price mechanism. Aluminium and other raw-material prices can therefore influence the final realisation and profitability.
4. Order Book Growth
Future order wins will indicate whether Diamond Power Infrastructure can sustain its expansion in the power-transmission and distribution market.
5. Post-NCLT Growth
The company’s ability to maintain financial discipline while scaling its cable and conductor business will remain an important factor for investors to monitor.
About Diamond Power Infrastructure
Diamond Power Infrastructure Limited operates under the DICABS brand and manufactures power cables and conductors.
The company has a presence across:
- EHV cables
- HV cables
- MV cables
- LV cables
- Power conductors
Its customers include power utilities, transmission and distribution EPC contractors, renewable-energy developers and industrial customers.
The company is headquartered in Vadodara, Gujarat.
Key Takeaway
Diamond Power Infrastructure has secured ₹116.49 crore of 11 kV power-cable orders, covering approximately 655 km of cables for underground distribution projects in Gujarat.
The order win strengthens visibility for the company’s medium-voltage cable business. However, investors should note that ₹79.83 crore of the announced value is conditional on the EPC contractor receiving the Letter of Award from UGVCL.
Going forward, the key factors to monitor will be order confirmation, execution, revenue conversion, raw-material price movements, margins and additional order inflows.
Source: Diamond Power Infrastructure Limited exchange filing dated September 21, 2026.
Disclaimer: This article is for informational and educational purposes only and should not be considered investment advice or a recommendation to buy or sell any security. Investors should conduct their own research and consider their risk profile before making investment decisions.
