Diamond Power Infrastructure Expands Cable Manufacturing Capacity with Investments in 66 kV and 132 kV Lines and Polymer Plant

Diamond Power Infrastructure Expands Cable Manufacturing Capacity with Investments in 66 kV and 132 kV Lines and Polymer Plant

Starting out as a fledgling ACSR conductor manufacturing facility in 1970, Diamond Power Infrastructure Limited (DICABS) has emerged as India’s largest and only integrated manufacturer of power transmission equipment and a turnkey services provider (EPC). Our world-class manufacturing facilities, vastly experienced team of professionals, and the ability to pioneer newer technologies have earned us a leadership position in the power transmission & distribution sector in India.

The Electrical Post 

Diamond Power closed the year with total revenue of INR 1,910 crore, against INR 1,115 crore in FY25 and INR 343 crore in FY24 — a five-and-a-half-fold expansion in two years. EBITDA rose to INR 224 crore at a margin of 11.7 per cent, compared with 6.0 per cent a year earlier, and profit after tax stood at INR 158 crore against INR 34 crore, translating into earnings per share of `3.00. Margins improved faster than volumes, which is the more important fact: it tells us that the shift in our product mix towards medium- and extra-high-voltage cables is doing exactly what it was designed to do.

Building capacity for a market that is arriving 

“We are deploying that capital deliberately. Work is under way on a dedicated low-voltage cable facility, on additional continuous vulcanisation and corrugated-sheathing lines that will take us reliably into the 66 kV and 132 kV classes, on a 30,000 TPA polymer compounding plant that brings a critical input in-house, and on the balancing equipment that lifts throughput across the existing plant. During the year, we also commissioned a copper wire-drawing and copper cable line with a capacity of 1,500 MT per month — our entry into copper-based cables, aimed squarely at data centres and power plants, and a meaningful widening of a portfolio that has historically been aluminium-led,” Maheswar Sahu, Chairman & Independent Director. Diamond Power Infrastructure Limited, stated in the annual report for FY 25-26

“What gives me confidence in this build-out is the platform it sits on. Your Company operates one of India's most integrated single-location manufacturing campuses — from our own aluminium rod mills through conductors and cables, supported by captive wind power, an ultra-high-voltage type-test laboratory, NABL-accredited facilities and over 130 type-test certifications. Integration of this depth is difficult to replicate, and it is what allows us to hold quality and delivery commitments as volumes multiply,” Mr. Sahu said.

Alongside this, the Company is investing in the capabilities that separate a commodity supplier from a specialist. Our research and quality initiative, NAVCHETNA, commits at least INR 5 crore a year to new products — fire- and water resistant cables, rubber cables, and alternative MV/EHV constructions — and to a conductor laboratory built for HTLS and energy-efficient conductor qualification.

The demand ahead 

The opportunity Diamond Power Infrastructure addresses is policy-driven rather than cyclical. India's transmission capex is set to rise from roughly INR 2.6 lakh crore in the last five-year cycle to INR 4-5 lakh crore in the next; the 500 GW non-fossil target by 2030 requires evacuation infrastructure at a scale never previously attempted here; more than 650 cities carry underground-cabling mandates; and data-centre load is expected to grow from about 1.4 GW to roughly 9 GW by 2030. Each of these pulls demand up the voltage curve — towards precisely the medium- and extra-high-voltage cables and high-performance conductors in which we have chosen to specialise.

“Our order book of INR 3,240 crore as at 31 March 2026, since grown to over INR 3,600 crore, and a customer base of more than 665 institutions, utilities and corporates, are early evidence that the market is finding us. The INR 435 crore datacentre order executed through leading EPC contractors is, to our knowledge, the largest such publicly disclosed cable order won by an Indian manufacturer. We are equally clear that no single customer group should dominate our revenues, and we are managing concentration accordingly, while opening marketing offices for Europe and the Middle East to build an export franchise from a small, high-quality team.” Mr. Sahu concluded. 

The road to 2030 

The Board has set the Company a path towards INR 4,000 crore, then INR 7,500 crore, and in time INR 10,000 crore of annual revenue, built on leadership in MV and EHV cables and in transmission conductors. The first quarter of the current year, with revenue of INR 690 crore and profit after tax of INR 69 crore, suggests the trajectory is intact. These are ambitions, not promises — they depend on execution, on capital discipline, and on conditions in our end markets — but they are ambitions grounded in capacity we are physically building and demand we can already see.

“We are investing because the opportunity in front of this Company is larger than the one we underwrote in 2022. India's transmission capex is set to rise sharply over the coming five-year cycle, the renewable evacuation programme demands extra-high-voltage infrastructure at unprecedented scale, hundreds of cities now carry underground cabling mandates, and data centres are becoming an industrial load class of their own. Every one of these pulls demand towards the higher-voltage products where this plant's integration is hardest to match. The thesis has not changed; the market has simply grown into it.” Mr. Rakesh Shah, Promoter Director, stated in the annual report.
 

Published at : Nov 07, 2026 09:10 AM (IST)

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