The shares of the power equipment manufacturer gained up to 4 percent after the company bagged letters of intent from Adani Electricity Mumbai Limited worth Rs 71.46 crore.
Price Movement
With a market capitalization of Rs 4,988.31 crore, the shares of Diamond Power Infrastructure Ltd were trading at Rs 94.66 per share, decreasing around 2.36 percent as compared to the previous closing price of Rs 96.95 per share.
Reason for Rise
According to the company filing, Diamond Power Infrastructure Ltd has secured a letter of intent from Adani Electricity Mumbai. The contracts involve the supply of Assorted sizes of LT Cable. The combined order value stands at Rs 71.46 crore.
Recent order
Recently, Diamond Power Infrastructure Ltd secured two letters of intent from Rajesh Power Services and Adani Electricity Mumbai. The contracts involve supplying XLPE aluminum armored HT cables and assorted HT cable sizes on a DAP basis for Adani Electricity’s Mumbai distribution project. The combined order value stands at Rs 230 crore.
Also read: PSU stock jumps 3% after reporting 290% QoQ increase in net profit; Announces dividend
Financial Growth
Looking forward to the company’s financial performance, revenue magnified by 412 percent from Rs 59.96 crore in Q3FY24 to Rs 307.42 crore in Q3FY25, Further, during the same time frame, net profit zoomed from a loss of Rs 5.28 crore to a profit of Rs 6.27 crore.
Prominent client base
Diamond Power Infrastructure Ltd has strong clients base which include major names like ArcelorMittal Nippon Steel India, JSW Renewables, CleanMax, Serum Institute of India, ACME Solar, Capital Electech, Servo Tech Electricals, and Ashoka Buildcon, reflecting a strong and diverse industrial clientele across steel, energy, pharmaceuticals, infrastructure, and electrical sectors.
Production Capacities
Diamond Power Infrastructure Ltd boasts robust production capacities with 34,300 KMPA for Low Voltage (1.1 kV) cables, 19,500 KMPA for High Voltage (up to 132 kV) cables, and 2,000 KMPA for Extra High Voltage (220 kV and above) cables, underscoring its strong manufacturing capabilities across diverse voltage ranges.
Company Profile
Diamond Power Infrastructure Limited is an India-based manufacturer of power transmission equipment. The Company is engaged in the manufacturing and sale of conductors, cables, and transmission towers. The Company operates in the Transmission and Distribution of Power (T&D) related business segment.
Written by Abhishek Singh
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