The shares of a small-cap cable company hit a 5% upper circuit after receiving an order from Swastika Infra Private Limited, for the supply of power cables valued at Rs. 109.4 crores.
Share price variations:
With a market capitalization of Rs. 7,205.54 crores, Diamond Power Infrastructure Limited touched its 5% upper circuit at Rs. 1,367.35 from its previous close of Rs. 1,302.25 per share.
Reason for the Rise:
As per exchange filings, Diamond Power Infrastructure Limited has secured an order worth Rs. 109.4 crores from Swastika Infra Private Limited for the supply of 11 kv 240 sqm.mm XLPE Al 3 core power cables. Swastika Infra is a contractor under Madhya Gujarat Vij Company, a PSU responsible for electricity distribution in central Gujarat. The order is scheduled to be executed by March 2025.
Recent Orders Received:
The company recently received orders from Larsen & Toubro Limited worth Rs. 40.12 crores and from Adani Energy Solutions Limited amounting to Rs. 899.75 crores for the supply of aluminum alloy conductors.
Additionally, the company secured further orders from Adani Energy Solutions Limited valued at Rs. 409 crores for the supply of various LV/MV cables.
Financial Performance:
For Q1FY25 the company reported a net profit increase of 200% to Rs. 16.56 crores compared to Rs. 5.52 crores in Q1FY24, while revenue from operations also marked an increase of 200% to Rs. 223.86 crores from Rs. 74.45 crores in comparison to the same period.
The stock has delivered a multi-bagger return of 124% over the last 6 months and an impressive 2,764% return over the past year.
About the company:
Diamond Power Infrastructure Limited (DPIL) is one of India’s oldest and fastest-growing manufacturers in the cables and conductors industry, as well as a leading player in the fast-moving electrical goods (FMEG) sector. DPIL is the
largest single-location power cables and conductors manufacturer in India, with 5 CCV lines and an installed capacity of over 2,50,000 MTPA of conductors. The company operates nationwide, with a 110-acre manufacturing plant in Vadodara, which is currently undergoing recommissioning and is expected to be fully operational by June 2025. Additionally, DPIL has a global presence, serving over 12 countries.
Written By Joseph Pv
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