Diamond Power Infrastructure Secures ₹19.57 Crore Cable Supply Order

Diamond Power Infrastructure Limited has received a Letter of Intent (LOI) valued at approximately ₹19.57 crore, including GST, for cable supply from Adani Green Energy Limited.

The company expects to execute this order within a swift 15-day timeline from the LOI issuance.

Key Order Details

Diamond Power Infrastructure Limited (DPIL) announced on April 6, 2026, that it received a Letter of Intent (LOI) from Adani Green Energy Limited.

The LOI covers the supply of cables and is valued at ₹19.57 crore, inclusive of Goods and Services Tax (GST).

DPIL is committed to executing this order within 15 days from the LOI issuance date.

This represents a significant order win for DPIL from a key player in the fast-growing renewable energy sector.

Significance of the Order

This substantial order from Adani Green Energy Limited, a leader in India's green energy transition, highlights DPIL's role as a key supplier.

Securing these contracts boosts DPIL's revenue outlook and strengthens its market position in power infrastructure.

The tight execution timeline showcases DPIL's operational agility and capacity to meet urgent client demands, which is vital for fast-paced infrastructure projects.

Company Background and Turnaround

Diamond Power Infrastructure has a history of supplying to Adani group companies. In December 2025, it announced a massive LOI worth approximately ₹747.64 crore from Adani Green for cables for projects in Khavda and Rajasthan.

The company has been undergoing a significant turnaround. Following financial difficulties and acquisition via NCLT proceedings, DPIL is recommissioning production facilities and has demonstrated revenue growth.

DPIL manufactures power transmission equipment, including cables, positioning it to benefit from the extensive infrastructure development undertaken by Adani group entities.

Impact for Shareholders

Shareholders can anticipate a boost to Diamond Power's order book, improving revenue visibility for the current fiscal period.

The quick execution requirement suggests DPIL's capacity to meet urgent demands, potentially leading to faster revenue recognition.

This new contract further solidifies DPIL's relationship with Adani Green, potentially opening doors for future collaborations and larger deals.

Potential Risks

A key risk is that this is an LOI, which must be converted into a firm purchase order.

The 15-day execution timeline is aggressive and depends on supply chain readiness and efficient manufacturing capacity.

Diamond Power has faced financial difficulties and legal challenges previously, though recent performance suggests a turnaround is underway.

Investors remain sensitive to leverage expansion and related-party transactions, which could influence market sentiment, as seen in past reactions.

Competitive Landscape

Diamond Power operates in a competitive sector alongside players like Polycab India, India's largest wire and cable maker with a 25%-26% market share, and KEI Industries, known for its expertise in EHV cables.

While Polycab and KEI are larger, DPIL's strategy of leveraging its renewed operational capacity and strong client relationships, such as with Adani Green, positions it for future growth.

Financial Performance Snapshot

• Company revenue for FY 2024-2025 reached ₹1,115.4 crore, a 225% year-on-year increase.
• Diamond Power Infrastructure's earnings growth over the past year was 155.1%, significantly outpacing the Electrical industry's 33.9%.

Key Next Steps

Confirmation of the formal purchase order from Adani Green Energy Limited.

Successful and timely execution of the cable supply within the 15-day period.

Future order inflows from Adani Green and other major players in the renewable and power infrastructure sectors.

DPIL's ongoing financial performance and operational efficiency as it continues its turnaround.