Diamond Power Infrastructure Limited (DPIL), a leading Indian manufacturer of power cables and conductors, has announced a significant development in its business operations. The company has received a Letter of Intent (LoI) from Adani Electricity Mumbai Limited for the supply of LT cables. This contract is valued at approximately ₹71.46 crore, marking a major milestone for DPIL in the power distribution sector.

The order, which will be executed by March 2026, involves the supply of assorted sizes of LT cables. These cables will be delivered on a DAP (Delivered At Place) basis to Adani Electricity's Mumbai/DTPS Stores for the Mumbai Distribution Business. The contract was awarded on a Kms rate basis and includes a PV (Price Variation) Formula, ensuring that the pricing adjusts according to fluctuations in input costs during the contract period.

In accordance with the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, DPIL disclosed this Letter of Intent as a material event, providing transparency regarding its business operations. Notably, the company has confirmed that there are no related party transactions associated with this contract, and none of the promoter/promoter group or group companies have any interest in the entity awarding the contract.

This new order strengthens Diamond Power Infrastructure's position in the power distribution industry, further enhancing its credibility and market presence. DPIL has a long history of supplying high-quality products to customers in India and across 12+ countries. The company is also actively expanding its manufacturing capacity, with its large Vadodara plant undergoing a phased recommissioning, which is expected to be completed by September 2025.

DPIL’s commitment to quality, innovation, and energy efficiency is reflected in its product offerings, which have been certified for EPD (Environmental Product Declaration) and Product Lifecycle. The company’s products serve a diverse set of customers, including major industries and utility companies like Adani Electricity.

With a workforce of over 1000 employees, DPIL remains committed to upholding strong governance practices, focusing on customer-centric solutions, and promoting ecological sustainability. The company’s Vadodara facility, covering 110 acres, is one of the largest single-location power cables and conductors manufacturing units in India.

This development comes on the heels of DPIL’s FY 2023-24 turnover of INR 343 Cr, further solidifying the company’s position as a leader in the Indian power cable and conductor manufacturing space. DPIL’s products continue to set industry standards for quality and reliability, contributing to the company’s growing presence in global markets.

The Upcoming IPOs in this week and coming weeks are  Wagons Learning, Srigee DLM, Manoj Jewellers.

The Current active IPO are Kenrik Industries,Arunaya Organics, Ather Energy, Iware Supplychain Services.

Start your Stock Market Journey and Apply in IPO by Opening Free Demat Account in Choice Broking FinX.

Join our Trading with CA Abhay Telegram Channel for regular Stock Market Trading and Investment Calls by CA Abhay Varn - SEBI Registered Research Analyst.