Diamond Power Infrastructure Limited has announced the receipt of new orders totaling ₹116.49 crore (including GST). These orders are for the supply of 11 kV XLPE power cables for underground distribution projects in Gujarat. The company views these new contracts as a testament to its quality and a step towards scaling up its power cable business, especially following its exit from the NCLT framework.
Diamond Power Infrastructure Secures Major Orders
Diamond Power Infrastructure Limited (DICABS) has announced the successful acquisition of new orders valued at approximately ₹116.49 crore (including GST). This significant influx of business is for the supply of 11 kV XLPE-insulated power cables, specifically destined for underground distribution projects within the state of Gujarat.
Project Details and Value
The orders, aggregating ₹116.49 crore including GST (with a base value of ₹98.72 crore excluding GST), involve the supply of approximately 655 km of 11 kV three-core aluminum XLPE cables. These cables will be utilized for urban underground distribution networks in the Bhavnagar and Ahmedabad regions. The company highlighted that these orders are a positive development following its resolution plan implementation and exit from the NCLT framework.
Strategic Significance
Commenting on the new orders, Mr. Kavish Shah, Vice President, stated, “Gujarat’s distribution utilities are taking large parts of their urban networks underground to improve reliability and resilience, and medium voltage cables are at the heart of that programme. Winning four orders in a single day for projects across Bhavnagar and Ahmedabad reflects the trust EPC contractors and utilities place in DICABS’ quality, testing standards and delivery.” The company is actively scaling up its medium voltage (MV) and extra high voltage (EHV) cable business, aiming to build a robust and diversified order book.
Order Breakdown
The detailed order summary reveals multiple Purchase Orders (POs) from Polite Powertech Limited, an EPC contractor working on behalf of Paschim Gujarat Vij Company Ltd (PGVCL) and Uttar Gujarat Vij Company Ltd (UGVCL). The total value of orders awarded is ₹1,16,48,71,805. A portion of the orders, amounting to ₹79.83 crore (including GST), is contingent upon the receipt of the Letter of Award from UGVCL by the EPC contractor.
Source: BSE
