Rs 3,498 Crore Order Book: This Small-Cap Electrical Equipment Stock Secures Rs 185 Crore Conductor Order from Adani Energy Solutions

On Friday, Indian equity benchmarks traded higher, with the benchmark Nifty 50 index gaining 192.90 points or 0.80 per cent to 24,265.65. Amid the broader market strength, Diamond Power Infrastructure shares traded marginally lower by 0.17 per cent at Rs 224.54 after the company announced that it had secured a Rs 185.16 crore conductor supply order from Adani Energy Solutions Limited (AESL) for two transmission projects. 

Diamond Power Wins Rs 185 Crore Order from Adani Energy Solutions

Diamond Power Infrastructure Limited (DPIL) has received a Contract Confirmation and Letter of Award (LOA) dated July 16, 2026, from Adani Energy Solutions Limited for the design, engineering, manufacturing, testing, packing, dispatch and transportation of AL59 aluminium alloy conductors on a Delivery-at-Place (DAP) basis.

The order is valued at Rs 185.16 crore, excluding GST but including packing, forwarding, freight and transit insurance charges. Including 18 per cent GST, the aggregate contract value stands at approximately Rs 218.49 crore. The contract follows a variable-price mechanism linked to aluminium prices on the London Metal Exchange (LME) and movements in the USD/INR exchange rate. The base pricing has been calculated using an aluminium LME price of USD 2,550 per metric tonne, a premium of USD 106 per metric tonne, and a USD/INR exchange rate of 87, with the final realised contract value subject to the agreed price variation formula.

Order Scope and Execution Timeline

The award comprises the supply of 1,050 km of AL59 Moose Conductor for the Tuticorin Project and 3,770 km of AL59 Zebra Conductor for the Pune-III Project, taking the total awarded quantity to 4,820 km. The scope includes design, engineering, manufacturing, assembly, testing, packing, dispatch and transportation of the conductors.

According to the delivery schedule, supplies for the Tuticorin project will be executed during July and August 2026, while deliveries for the Pune-III project are scheduled between August 2026 and February 2027. Overall execution is expected to be completed within approximately eight months, with delivery locations to be communicated separately by Adani Energy Solutions.
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Management Commentary

Commenting on the development, Kavish Shah, Vice President – Corporate Strategy, Diamond Power Infrastructure Limited, said the order reflects the continued confidence of a marquee customer in the company's conductor manufacturing capabilities. He added that the contract strengthens DPIL's existing relationship with Adani Energy Solutions, improves revenue visibility for FY27, and highlights the ongoing investment cycle in India's power transmission infrastructure.

About Diamond Power Infrastructure

Diamond Power Infrastructure Ltd is an integrated manufacturer of power transmission and distribution products under the DICABS brand. The company manufactures aluminium conductors as well as low-, medium-, high- and extra-high-voltage cables, serving customers across utilities, infrastructure, renewable energy, oil and gas, defence, data centres and industrial sectors in both domestic and export markets. As of May 26, 2026, Diamond Power Infrastructure's order book stood at Rs 3,498 crore.

The company operates a manufacturing-led business model from its facilities at Vadadala, Savli, Vadodara, Gujarat. Following its acquisition under an NCLT-approved resolution plan in September 2022, the company has focused on restoring operations, enhancing manufacturing capabilities and expanding its participation in India's growing transmission and distribution sector.

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Disclaimer: The article is for informational purposes only and not investment advice.