Diamond Power Infrastructure Limited (DIACABS) has announced the receipt of a significant Letter of Intent (LoI) from Adani Electricity Mumbai Limited. The disclosure, made on April 15, 2026, under Regulation 30 of SEBI (LODR) Regulations, pertains to a domestic contract for the supply of cables. This order reinforces the company’s strong standing in the power transmission and distribution sector.

The order received from Adani Electricity Mumbai Limited is valued at ₹45.47 Crores ($Rs. 45,47,45,592/-$), inclusive of GST. According to the statutory filing, the execution period for this contract is set from May 2026 to May 2027. The company confirmed that neither its promoter group nor any group companies have any interest in the entity awarding the contract, and the transaction does not fall under related party dealings.

Diamond Power Infrastructure Limited is a leading integrated power transmission and distribution solutions provider based in Vadodara, Gujarat. The company specializes in manufacturing a wide range of products, including conductors, transformers, and HT/LT cables. Throughout 2025, the company showed significant momentum, securing strategic orders such as a ₹214.65 crore LoI from Adani Green Energy in March 2025 and an offer for sale (OFS) by promoters in June 2025 to adjust stakeholdings. Recent news also highlights the company becoming a National Cable Partner for CREDAI India for 2025-26, signaling its expanding retail and institutional footprint.

The company’s financial performance has shown a robust upward trajectory in its most recent quarterly results for the period ended December 31, 2025 (Q3 FY26). Revenue from operations reached ₹474.08 Crores, marking an 8.27% increase from the previous quarter’s ₹438.33 Crores. Even more striking is the profit growth; the Net Profit (PAT) surged to ₹49.72 Crores, representing a 79.3% growth compared to the September 2025 quarter and a massive 692% jump over the corresponding quarter of the previous year. As of December 2025, the promoter holding stands at 84.02%, with Foreign Institutional Investors (FIIs) holding a 0.45% stake.