Diamond Power Secures ₹76.06 Crore Order For 66 KV Cables In Gujarat Project

Market snapshot: Diamond Power Infrastructure Limited (DIACABS) has announced a domestic order win valued at ₹76.06 crore. The company will supply 66 kV Extra High Voltage (EHV) underground cables for a power transmission infrastructure project in Gujarat.

Data Snapshot

• Secured a domestic supply order for 66 kV Extra High Voltage underground cables in Gujarat valued at ₹76.06 crore.
• Commissioned the eighth MV/EHV Power Cable Production line at Vadodara, Gujarat on June 3, 2026, expanding capacity by 150 km per month.
• Completed a Qualified Institutional Placement fundraise of ₹1,613.97 crore between July 23 and July 28, 2026.

What's Changed

• Revenue Scale: Diamond Power Infrastructure's annual revenue rose to ₹1,910.10 crore in FY26, up from ₹1,115.90 crore in FY25, highlighting a strong operational turnaround.

Key Takeaways

• Secures a ₹76.06 crore utility contract for high-specification 66 kV extra high voltage power cables.
• Strengthens presence in its home state of Gujarat with transmission infrastructure utilities.
• Capitalizes on recent capacity additions, including the commissioning of its 8th MV/EHV line in June 2026.

SAHI Perspective

Diamond Power Infrastructure is successfully scaling its revenue by capturing high-value orders in the capital-intensive EHV segment. By leveraging its newly expanded manufacturing footprint in Vadodara, the company is proving its capability to capture utility-scale transmission and distribution contracts in domestic markets.

Market Implications

The steady flow of specialized cable orders enhances near-term revenue visibility and highlights robust demand in India's power transmission grid modernization cycle. Furthermore, this contract underscores the company's competitive advantage in a segment with high technological barriers to entry.

Trading Signals

Market Bias: Bullish

Diamond Power Infrastructure's latest ₹76.06 crore order win reinforces its strong order book and operational momentum. Supported by its recent ₹1,613.97 crore institutional fundraise, the company possesses highly secure liquidity to support capital-intensive execution.

Overweight: Power Cables, Capital Goods, Power Transmission

Trigger Factors:

• Sustained quarterly execution of the EHV cable orders.
• Operational integration of the new 1,500 MT per month copper cable line commissioned on August 20, 2026.
• Completion of the remaining two MV/EHV lines before March 31, 2027.

Time Horizon: Medium-term (3-12 months)

Industry Context

India's power transmission and distribution sector is entering an intensive capital cycle, driven by renewable energy integration and urban underground cabling. Specialized cable segments, particularly extra high voltage cables ranging from 66 kV to 400 kV, remain technology-heavy with limited domestic players capable of executing high-spec utility mandates.

Key Risks to Watch

• Commodity Price Volatility: Fluctuations in copper and aluminum prices could squeeze margins.
• Execution Timelines: Delays in project commissioning or supply rollouts could invoke penalty clauses.

Recent Developments

On August 20, 2026, Diamond Power Infrastructure commissioned a dedicated copper wire drawing and copper cable manufacturing line in Vadodara with a capacity of 1,500 MT per month. Previously, the company successfully completed a ₹1,613.97 crore Qualified Institutional Placement in late July 2026, substantially strengthening its balance sheet.

Closing Insight

The ₹76.06 crore Gujarat contract proves that Diamond Power Infrastructure is successfully converting its aggressive manufacturing capacity expansions into high-value order book additions, reinforcing its cyclical turnaround story.

High Performance Trading with SAHI.