Shares of Diamond Power Infrastructure Limited (DICABS) were in focus during Monday’s trade after the company announced that it had received a Letter of Intent (LoI) from Adani Green Energy Limited for a major supply order. The order, valued at Rs 214.65 crore, pertains to the supply of conductors and cables for the Khavda Power Project in Gujarat.
According to the regulatory filing dated March 24, 2025, the order includes both 33kV high-tension (HT) and 3.3kV low-tension (LT) cables for various solar and wind power projects under Adani Green’s Khavda initiative. The supply contract spans a total cable length of over 1,300 kilometers and will be executed by January 2026.
The order was awarded on a “Kms rate basis” with a price variation formula. The company confirmed that the deal is purely domestic and does not fall under any related party transactions. Diamond Power’s scope of work includes the supply of critical power transmission components for large-scale solar and wind generation hubs under Adani’s renewable portfolio.
This is Diamond Power’s second major contract with Adani Green in recent times and significantly strengthens its order book. The company, which was acquired through the NCLT process by the GSEC-Monarch Group, is currently in the process of recommissioning its large-scale manufacturing unit in Vadodara, which spans 110 acres.
Diamond Power Infrastructure is one of India’s oldest cable and conductor manufacturers, with an installed capacity of 9,600 km per annum. The company is actively serving domestic and global clients across more than 12 countries.
The order highlights DICABS’ growing relevance in India’s clean energy infrastructure space. Investors will be closely watching further developments as the company executes this large-scale supply mandate.
