Laser Power & Infra Secures ₹72.77 Crore Power Grid Contracts For Transmission Lines

Market snapshot: Laser Power & Infra Limited has secured its first commercial contracts for High Temperature Low Sag (HTLS) conductors from Power Grid Corporation of India Limited, valued at ₹72.77 cr. The orders include both the supply of HTLS conductors and comprehensive reconductoring services for two 132kV single-circuit transmission lines, to be completed within 12 months.

Data Snapshot

• Awarded goods supply contract for HTLS conductors and associated materials valued at ₹58.92 cr and services contract for reconductoring at ₹13.85 cr, totaling ₹72.77 cr.
• Contracts cover two 132kV transmission lines: Khandong–Halflong (63.036 km) and Halflong–Jiribam (100.63 km), with a 12-month execution timeline.
• Laser Power & Infra reported standalone revenue of ₹521.5 cr, up 14.8% YoY, and PAT of ₹21.1 cr, up 28.8% YoY in Q1 FY27.

What's Changed

• Revenue from operations grew 14.8% YoY to ₹521.5 cr from ₹454.1 cr (derived: Q1 FY27 vs Q1 FY26).
• EBITDA increased 25.7% YoY to ₹65.9 cr from ₹52.4 cr, while EBITDA margin expanded to 12.6% from 11.5%.
• Standalone PAT rose 28.8% YoY to ₹21.1 cr from ₹16.4 cr.
• Order book stood at ₹2,788.4 cr as of June 30, 2026.

Key Takeaways

• Strategic Commercial Entry: Marks the company's first commercial order for advanced HTLS conductors, upgrading its high-performance product credentials.
• Contract Specifics: Split into ₹58.92 cr for goods supply and ₹13.85 cr for services, optimizing both manufacturing and EPC margins.
• Project Scope: Reconductoring work covers 163.67 km across two critical lines under the North Eastern Region Expansion Scheme-XXIV.

SAHI Perspective

The award of this contract from Power Grid is a significant milestone for Laser Power & Infra, validating its technical competency in the advanced HTLS conductor segment. Entering the high-performance conductor market allows the company to transition toward higher-margin offerings, supplementing its traditional cable manufacturing and EPC portfolio. Backed by a strong order book of ₹2,788.4 cr as of Q1 FY27 and recent project wins like the ₹44 cr CESC order, the company is successfully diversifying its customer base and increasing execution capabilities.

Market Implications

The addition of Power Grid as a key public sector client reduces customer concentration risks, which previously stood at 72.1% revenue contribution from the top 10 customers in FY26. Furthermore, expanding into the EHV underground and HTLS overhead markets positions Laser Power & Infra to capture a share of India's multi-billion dollar grid modernization and renewable integration outlays.

Trading Signals

Market Bias: Bullish

Securing the first commercial order for High Temperature Low Sag (HTLS) conductors from Power Grid worth ₹72.77 cr expands the company's product portfolio. This adds to the strong Q1 FY27 order book of ₹2,788.4 cr and recent ₹44 cr order from CESC.

Overweight: Power Infrastructure, Transmission & Distribution

Trigger Factors:

• Successful execution of HTLS conductors within the 12-month timeline.
• Margin trends in the high-performance EHV segments.
• Commercialization of next-generation technology partnerships.

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

Industry Context

India's power transmission and distribution sector is undergoing rapid modernization to accommodate massive renewable energy integration. HTLS conductors are becoming critical for high-capacity power lines due to their ability to carry up to double the current of conventional ACSR conductors with minimal additional mechanical stress, addressing key Right-of-Way challenges in land-constrained corridors.

Key Risks to Watch

• Execution Timeline: The contract mandates completion of reconductoring services and goods supply across challenging terrains in the Northeast within a tight 12-month window.
• Working Capital Intensity: Both manufacturing and EPC segments demand substantial working capital. The company reported a negative operating cash flow of -₹119.1 cr in FY26 despite growing profitability.
• Raw Material Volatility: Exposed to fluctuations in key input prices like aluminum and copper, which can impact operating margins.

Recent Developments

During September 2026, Laser Power & Infra secured a ₹44 cr order from CESC Limited for underground cabling and distribution station works, marking its entry into the specialized 220 kV underground transmission cable segment. Additionally, the company received in-principle approval from West Bengal Industrial Development Corporation (WBIDC) for the allotment of approximately 40 acres of land in Kharagpur on a 99-year lease to set up a new manufacturing facility for integrated power cables and conductors.

Closing Insight

This contract marks a technological and commercial pivot for Laser Power & Infra. Successfully executing this HTLS reconductoring project will establish critical credentials, unlocking access to larger grid-upgradation tenders as India expands its transmission capacity.

High Performance Trading with SAHI.