Vadodara-based Diamond Power Infrastructure Ltd has secured a ₹76.06 crore order, including GST, from a domestic private-sector Engineering, Procurement and Construction (EPC) contractor for supplying 66 kV Extra High Voltage (EHV) underground power cables for a transmission project in Gujarat. According to reports from CNBC TV18, the order, valued at ₹64.46 crore excluding GST, covers approximately 293 kilometres or 2,92,985 metres of 38/66 kV, 1 core, 630 sq. mm. aluminium conductor cables. This contract reinforces the company's strong execution capability in the specialized power transmission market, supported by its recent multi-fold capacity expansions in Vadodara.
The cables will be XLPE insulated, copper wire screened, aluminium corrugated sheathed and HDPE outer sheathed, and will be supplied on a Free on Road (FOR) site basis. As reported by CNBC TV18, deliveries will begin after manufacturing clearance at a scheduled rate of approximately 50 km per month, with the company able to advance the schedule in line with project requirements. The order is on a variable-price basis, with final realisation to be determined by the applicable price variation formula.
The order covers the company's EHV manufacturing capabilities, including cables at 66 kV and above. On June 3, 2026, Diamond Power Infrastructure commissioned its eighth MV/EHV Power Cable Production line at Vadodara, Gujarat, expanding capacity by 150 km per month. The company also commissioned a dedicated 1,500 MT per month copper cable manufacturing line on August 20, 2026, further strengthening its manufacturing footprint. Diamond Power Infrastructure manufactures low voltage (LV), medium voltage (MV), high voltage (HV) and EHV power cables, along with control and instrumentation cables, fire-resistant and flame-retardant cables, solar direct current (DC) and electric vehicle (EV) charging cables, and conductors.
The company has demonstrated robust financial performance with annual revenue rising to ₹1,910.10 crore in FY26, up from ₹1,115.90 crore in FY25, highlighting a strong operational turnaround. Diamond Power Infrastructure recently reported exceptional Q1 FY27 results with consolidated net profit surging 256.19% to ₹58.45 crore in the quarter ended June 2026, compared to ₹16.41 crore in the corresponding quarter of the previous year. Sales increased significantly by 128.57% to ₹689.88 crore in Q1 FY27 from ₹301.82 crore in Q1 FY26. The steady flow of specialized cable orders enhances near-term revenue visibility and highlights robust demand in India's power transmission grid modernization cycle.
Despite strong financial performance, Diamond Power Infrastructure shares fell 2.42% to close at ₹322.40 on the BSE following the order announcement. The company has scheduled a July 22, 2026 shareholders meeting to approve raising ₹2,000 crore via Qualified Institutions Placement (QIP) to address Minimum Public Shareholding (MPS) norms compliance. The remote e-voting period runs from July 19-21, 2026, with results expected by July 21, 2026. The board previously raised the fund-raising limit from ₹1,000 crore to ₹2,000 crore on June 18, 2026, aligning with SEBI regulations. The proposed issuance involves fully paid-up equity shares of face value ₹1 each to Qualified Institutional Buyers, with proceeds intended for subsidiary investments, capital expenditure, debt repayment, and working capital requirements.
