Diamond Power Infrastructure Limited (DPIL), one of India's largest integrated manufacturers of cables and conductors, has received a ₹1349.11 crore Letter of Intent (LoI) from Adani Energy Solutions Limited. The massive order entails the supply of 24,080 kilometres of AL-59 high-performance conductors, which will be deployed in marquee transmission projects including Jamnagar, Khavda-IV D, HVDC, Navinal-II, and Mahan-II.

According to the company’s regulatory filing dated July 28, 2025, the project will be executed by June 2028, and has been awarded on a “kms rate basis with PV formulae.” This contract marks one of the largest single orders for AL-59 conductors in India and will significantly contribute to India’s growing need for robust transmission infrastructure.

No related party interest

The order has been received from a domestic entity and does not fall under related party transactions, the company clarified. Also, none of the promoters or group companies have any interest in Adani Energy Solutions, ensuring full compliance with SEBI's disclosure norms.

DPIL: India’s single-location power cable giant

Founded in 1970, Diamond Power Infrastructure Limited has evolved into India’s largest single-location manufacturer of power cables and conductors, with a sprawling 110-acre facility in Vadodara, Gujarat. DPIL is currently undergoing a phased re-commissioning of its production facility and is expected to complete the process by September 2025.

In FY 2024–25, the company reported a consolidated turnover of ₹11,153.93 crore, and its manufacturing capabilities now include:

• 2,50,000 MTPA conductor capacity, including 1,00,000 MTPA AL-59 conductors

• 34,300 CKM of LV cables, 19,800 kms of MV cables, and 2,000 kms of EHV cables

DPIL serves over 900 clients across utilities, EPC contractors, metro and railway projects, renewable energy developers, and international markets. The company is also certified for EPD and product lifecycle standards, reinforcing its commitment to sustainability and operational excellence.

Strategic capacity ramp-up via DICABS NexGen

To meet the growing demand, DPIL has expanded its AL-59 conductor capacity from 24,000 MTPA to 1,00,000 MTPA, supported by three new integrated rod mills under its wholly-owned subsidiary DICABS NexGen. Two rod mills are already commissioned, and the third is expected to go live by July 2025.

The company noted that this expansion positions it as India’s largest AL-59 conductor manufacturer, enabling delivery of massive orders such as the current Adani project.

India's transmission upgrade driving demand

The Indian power transmission sector is witnessing a massive transformation, spurred by the integration of renewable energy, rapid urbanisation, and industrial corridor development. As per Central Electricity Authority (CEA) and CRISIL projections:

• Over 300,000 circuit kilometres of new transmission lines will be needed by 2030.

• Demand for AL-59 and HTLS (High Temperature Low Sag) conductors is growing at 15–18% CAGR, as power utilities seek higher capacity and corrosion-resistant solutions.

Management commentary

Kavish Shah, Vice President of Corporate Strategy at DPIL, termed the Adani order a “transformational moment” for the company. He said:

“This historic order from Adani Energy Solutions Ltd. affirms our scale, technical credibility, and our role as a long-term partner in India’s grid development. With enhanced capacity and deep execution experience, Diamond Power is future-ready. The fact that this is among the biggest AL-59 conductor orders in India adds to our credibility and pride.”

Strong order book ensures future revenue visibility

With this new order, Diamond Power’s consolidated order book has risen to ₹2800 crore, ensuring strong revenue visibility over the next two years. This order marks a significant endorsement of DPIL’s technological capability and timely ramp-up of manufacturing facilities, especially its next-gen rod mills.

The company reiterated its focus on:

• Robust governance practices

• Customer-centric culture

• Sustainable and eco-conscious manufacturing

DPIL also confirmed its commitment to delivering value-driven products and solutions that support India’s evolving energy needs.

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