Diamond Power Infra (DIACABS): Seven Order Disclosures in Ten Weeks, Plus a QIP That Fixed Its Public Shareholding
Diamond Power Infrastructure (NSE: DIACABS, BSE: 522163) disclosed its seventh order win in ten weeks on September 15, 2026 — a ₹179.43 crore Letter of Award from Adani Electricity Mumbai for specialised MV cables — extending a run of exchange announcements that began on July 5, 2026. The filings show a cable and conductor manufacturer moving from a year of rapid revenue growth into a period defined by order-flow disclosure, new capacity, and governance repair.
The order disclosures, chronologically
July 5, 2026 — ₹435.71 crore (ex-GST) order for HT & LT power cables for 310 MW data centre projects in Hyderabad, to be executed by Larsen & Toubro, Sterling and Wilson, and Blue Star. Deliveries stated to commence August 2026 and complete by March 2027. Source: BSE filing dated July 5, 2026.
July 16, 2026 — Contract Confirmation/Letter of Award from Adani Energy Solutions for AL59 Moose and AL59 Zebra conductors for the Tuticorin and Pune-III transmission projects, valued at approximately ₹185.16 crore (ex-GST), with deliveries scheduled July 2026 to February 2027. Source: BSE filing dated July 16, 2026.
August 11, 2026 — Two purchase orders aggregating ₹195.48 crore (basic, excluding GST) from Rajesh Power Services Ltd for roughly 1,370 km of 11 kV medium-voltage underground cables for PGVCL projects in coastal Gujarat, to be executed over 12 months. Source: BSE filing dated August 11, 2026.
August 12, 2026 — Letter of Intent from Purvanchal Vidyut Vitran Nigam for 250 km of 33 kV HT XLPE cable, valued at ₹61.04 crore including GST (₹51.73 crore ex-GST), with deliveries September 2026 to January 2027. Source: BSE filing dated August 12, 2026.
August 22, 2026 — Letter of Intent/order worth ₹52.86 crore from Aurionpro Solutions for HT and LT electrical cables to a hyperscale data centre campus in Hyderabad. Source: BSE filing dated August 22, 2026.
September 3, 2026 — Letter of Acceptance from a domestic EPC contractor for approximately 293 km of 66 kV extra high voltage underground power cables for a Gujarat transmission project, valued at ₹76.06 crore including GST. Source: BSE filing dated September 3, 2026.
September 15, 2026 — Letter of Award worth ₹179.43 crore (inclusive of GST) from Adani Electricity Mumbai for approximately 871 km of 33 kV and 11 kV TR-XLPE medium voltage cables with water-blocking construction, plus associated 1.1 kV low voltage cables. Deliveries commence upon manufacturing clearance at approximately 50 km per month. Source: BSE filing dated September 15, 2026.
What the financials show
The company's FY26 annual results, filed July 23, 2026, reported revenue of ₹1,914 Cr and PAT of ₹118 Cr. Q1FY27 results, filed August 13, 2026, showed consolidated revenue of ₹68,987.64 lakh and PAT of ₹5,844.66 lakh. The Q1FY27 filing noted gross margin compressed 165 bps as material costs rose faster than revenue.
On August 21, 2026, the company's first concall in tracked history cited Q1FY27 revenue of ₹690 Cr, EBITDA margin of 12.3%, FY27 revenue guidance of ₹4,300–₹4,500 Cr, and an order book of ₹3,688 Cr. Source: BSE concall transcript filing dated August 21, 2026.
Capacity: a copper line at the Vadodara plant
On August 20, 2026, the company commissioned a dedicated copper wire drawing and copper cable manufacturing line at its Vadodara facility, with installed capacity of 1,500 MT per month. The filing states commercial production started the same day, and that no substantial new investment was required as existing machinery and infrastructure were used. The line enables in-house copper conductor drawing and targets data centres, power plants, and industrial installations. Source: BSE filing dated August 20, 2026.
One concentration claim to verify later
The input record includes a claim attributed to the company: it targets bringing Adani Group order concentration down from 40%+ to 20% by the end of FY27. This is currently an open claim with a stated target period of Q4FY27 and no resolved value yet disclosed. Source: Alpha Inflection evidence record, claim status "still_open."
Governance: the QIP and the MPS fix
A sequence of filings in June and July 2026 covers a minimum public shareholding (MPS) compliance issue:
- June 18, 2026 — Board approved raising up to ₹2,000 crore via QIP, an increase from the earlier ₹1,000 crore limit, noting non-compliance with MPS norms. Source: BSE filing dated June 18, 2026.
- July 29, 2026 — Management Committee approved allotment of 71,10,00,000 equity shares at ₹227 each to QIBs, raising ₹1,613.97 crore. Public shareholding moved from 15.98% to 25.97%. Source: BSE filing dated July 29, 2026.
- August 19, 2026 — Company disclosed NSE and BSE notices for MPS non-compliance for the quarter ended June 30, 2026, noting the QIP had since fixed the breach. Each exchange imposed a penalty of ₹4,55,000. Source: BSE filing dated August 19, 2026.
- September 7, 2026 — Further NSE/BSE letters covered the July 1–28, 2026 window when public shareholding was 15.98%. Penalty: ₹1,65,200 per exchange. Source: BSE filing dated September 7, 2026.
Separately, the FY26 results filing of July 23, 2026 carried a qualified audit opinion on PPE valuation, as noted in the filing's own title.
What the filings say to watch next
The copper line's first full quarter of commercial production is Q3FY27, since it started on August 20, 2026. The Hyderabad data centre order disclosed July 5, 2026 has a stated completion date of March 2027. The Adani Electricity Mumbai Letter of Award has no formal purchase order yet — the filing says one "will be issued." The Adani concentration claim has a stated target period of Q4FY27.
Alpha Inflection is research infrastructure, not investment advice. We are not SEBI-registered investment advisers. Everything above is compiled from public corporate filings, with sources cited. Do your own research.
The filing evidence
| Date | What the filing said | Detail | Source |
|---|---|---|---|
| 5 Jul 2026 | Diamond Power Infrastructure receives Rs. 435.71 crore order for HT & LT cables for 310 MW data center projects in Hyderabad from L&T, Sterling and Wilson, and Blue Star. | Diamond Power Infrastructure Limited has received a supply order valued at Rs. 435.71 crore (exclusive of GST) for High Tension and Low Tension power cables for the 310 MW HYD22 to HYD26 Data Center Projects in Hyderabad, to be executed by Larsen & Toubro, Sterling and Wilson, and Blue Star. Deliveries will commence in August 2026 and complete by March 2027. | filing |
| 16 Jul 2026 | Diamond Power Infrastructure wins ₹185 crore order from Adani Energy Solutions for AL59 conductors for two transmission projects. | Diamond Power Infrastructure received a Contract Confirmation/Letter of Award from Adani Energy Solutions Limited for the supply of AL59 Moose and AL59 Zebra conductors for the Tuticorin and Pune-III projects, valued at approximately ₹185.16 crore (excl. GST) with deliveries scheduled from July 2026 to February 2027. | filing |
| 11 Aug 2026 | Diamond Power Infrastructure wins ₹195.48 crore order for 11 kV medium-voltage cables for PGVCL's disaster-resilience and urban underground projects in Gujarat. | Diamond Power Infrastructure received two purchase orders aggregating ₹195.48 crore (basic, excluding GST) from Rajesh Power Services Ltd for supply of ~1,370 km of 11 kV medium-voltage underground cables for PGVCL's State Disaster Mitigation Fund and System Improvement (Urban Underground) projects in coastal Gujarat, to be executed over 12 months. | filing |
| 12 Aug 2026 | Diamond Power Infrastructure receives ₹61.04 crore order from Purvanchal Vidyut Vitran Nigam for supply of 33 kV HT XLPE cable, to be executed by January 2027. | Diamond Power Infrastructure has received a Letter of Intent from Purvanchal Vidyut Vitran Nigam Limited (a Uttar Pradesh state discom) for supply of 250 km of 33 kV HT XLPE cable, valued at ₹61.04 crore inclusive of GST (₹51.73 crore ex-GST). Deliveries are scheduled from September 2026 to January 2027. | filing |
| 22 Aug 2026 | Diamond Power Infrastructure receives ₹52.86 crore order from Aurionpro Solutions for cable supply to Hyderabad data centre campus | Received a Letter of Intent/order worth ₹52.86 crore from Aurionpro Solutions for supply of HT and LT electrical cables to a hyperscale data centre campus in Hyderabad. | filing |
| 3 Sept 2026 | Diamond Power Infrastructure wins ₹76.06 crore order for 66 kV EHV underground cables from a domestic EPC contractor for a Gujarat transmission project. | Diamond Power Infrastructure received a Letter of Acceptance from a domestic EPC contractor for the supply of approximately 293 km of 66 kV extra high voltage underground power cables for a transmission project in Gujarat, valued at ₹76.06 crore including GST. | filing |
| 15 Sept 2026 | Diamond Power Infrastructure receives ₹179.43 crore Letter of Award from Adani Electricity Mumbai for specialised MV cables | Diamond Power Infrastructure Limited has received a Letter of Award worth ₹179.43 crore (inclusive of GST) from Adani Electricity Mumbai Limited for the supply of specialised medium voltage (MV) cables. The order covers approximately 871 km of cables, including 33 kV and 11 kV TR-XLPE medium voltage cables with water-blocking construction, plus associated 1.1 kV low voltage cables, designed for Mumbai's coastal and monsoon conditions. The formal purchase order will be issued against this Letter of Award, and deliveries will commence upon manufacturing clearance at a scheduled rate of approximately 50 km per month. | filing |
| 20 Aug 2026 | Diamond Power Infrastructure commissions a copper cable manufacturing line with 1,500 MT/month capacity, marking its entry into the higher-realisation copper cable segment. | Diamond Power Infrastructure has commissioned a dedicated copper wire drawing and copper cable manufacturing line at its Vadodara facility, with an installed capacity of 1,500 MT per month. Commercial production started on August 20, 2026. The line enables in-house copper conductor drawing and targets high-power applications like data centres, power plants, and industrial installations. The company states no substantial new investment was required as existing machinery and infrastructure were used. | filing |
| Adani Group order book share — 20% — by Q4FY27 | [Diamond Power] targets bringing Adani Group order concentration down from 40%+ to 20% by the end of FY27. | ||
| 23 Jul 2026 | FY26 annual results: Revenue ₹1,914 Cr +126% YoY, PAT ₹118 Cr +236% YoY — 5th straight quarter of margin expansion, but qualified audit opinion on PPE valuation remains an overhang | filing | |
| 13 Aug 2026 | Q1FY27 consolidated revenue rose to ₹68,987.64 lakh, +128.6% YoY, while PAT reached ₹5,844.66 lakh, +256.2% YoY; margin recovery continued but gross margin compressed 165bps as material costs rose faster than revenue. | filing | |
| 21 Aug 2026 | Diamond Power delivered 129% YoY revenue growth in Q1 FY27 to ₹690 Cr and expanded EBITDA margins to 12.3%, reiterating FY27 revenue guidance of ₹4,300–₹4,500 Cr supported by a ₹3,688 Cr order book and capacity additions. | filing | |
| 6 Jun 2026 | Diamond Power Infrastructure Limited Announces Change in Key Management Personnel | The Board of Directors of Diamond Power Infrastructure Limited has noted the resignation of Mrs. Diksha Sharma, the Company Secretary and Compliance Officer, due to health issues and maternity leave. Mr. Jayesh Patel has been appointed as the new Company Secretary and Compliance Officer. | filing |
| 6 Jun 2026 | Diamond Power Infrastructure appoints Jayesh Patel as Company Secretary & Compliance Officer; Diksha Sharma steps down to Assistant Company Secretary due to health/maternity reasons. | The Board of Directors of Diamond Power Infrastructure noted that Diksha Sharma resigned as Company Secretary and Compliance Officer (KMP) effective June 6, 2026, due to health issues and maternity leave, and she will continue as Assistant Company Secretary. The Board approved the appointment of Jayesh Patel as the new Company Secretary and Compliance Officer (KMP) effective June 7, 2026. | filing |
| 18 Jun 2026 | Diamond Power Infrastructure board approves raising up to ₹2,000 crore via QIP to address minimum public shareholding compliance and other governance matters. | The Board of Directors approved enhancing the QIP fund raising limit from ₹1,000 crore to ₹2,000 crore, constituted a CSR committee, reconstituted the Risk Management and Management Committees, and approved a postal ballot for shareholder approval, noting the company is non-compliant with minimum public shareholding norms. | filing |
| 18 Jun 2026 | Diamond Power Infrastructure board approves raising up to ₹2,000 crore via QIP, doubling the earlier limit, to also address minimum public shareholding compliance. | The Board of Directors of Diamond Power Infrastructure Limited approved a proposal to raise up to ₹2,000 crore through a Qualified Institutions Placement (QIP), which is an increase from the previously approved ₹1,000 crore. The company also noted its non-compliance with minimum public shareholding norms and intends to use the QIP as a method to achieve compliance. The proposal is subject to shareholder approval via postal ballot and other regulatory approvals. | filing |
| 29 Jul 2026 | Diamond Power Infrastructure completes ₹1,614 crore QIP, allotting 71.1 crore shares at ₹227 each to QIBs including Smallcap World Fund, Motilal Oswal, HDFC, HSBC, Mirae Asset, Goldman Sachs, and others. | Diamond Power Infrastructure's Management Committee approved the allotment of 71,10,00,000 equity shares at ₹227 per share (including a premium of ₹226) to qualified institutional buyers, raising ₹1,613.97 crore via a QIP that opened on July 23, 2026 and closed on July 28, 2026. The paid-up equity capital increased from ₹52.70 crore to ₹59.81 crore. Key allottees include Smallcap World Fund (10.17%), Motilal Oswal funds (24.78% collectively), HDFC funds (18.59%), HSBC funds (6.20%), Mirae Asset funds (6.20%), Goldman Sachs Funds (5.95%), VQ Fastercap Fund (5.58%), and Tata funds (5.58%). | filing |
| 13 Aug 2026 | Diamond Power Infrastructure appoints Umeshkumar Chhaya as Additional and Whole-time Director effective August 13, 2026, subject to shareholder approval. | The Board of Directors appointed Mr. Umeshkumar Chhaya as an Additional Director and Whole-time Director for a term from August 13, 2026, to September 30, 2027, pending shareholder approval at the AGM. | filing |
| 19 Aug 2026 | Diamond Power Infrastructure receives NSE and BSE notices for non-compliance with minimum public shareholding requirement for the quarter ended June 30, 2026, but has since achieved compliance via a QIP. | The company was notified by NSE and BSE of non-compliance with the minimum public shareholding (MPS) requirement (Regulation 38) for the quarter ended June 30, 2026. It subsequently completed a QIP on July 28, 2026, which increased public shareholding from 15.98% to 25.97%, thereby achieving the required 25% MPS. A penalty of ₹4,55,000 per exchange has been imposed. | filing |
| 7 Sept 2026 | Diamond Power receives penalty notices from NSE and BSE for temporary non-compliance with minimum public shareholding, which has since been remedied via the QIP completed in July 2026. | NSE and BSE issued letters on September 7, 2026, notifying Diamond Power of non-compliance with the minimum public shareholding (MPS) requirement of 25% during July 1-28, 2026, when public shareholding was 15.98%. The company has since completed a QIP that raised public shareholding to 25.97%, achieving compliance. Each exchange imposed a penalty of ₹1,65,200. | filing |
Quick answers
- What did Diamond Power disclose?
- Diamond Power Infrastructure (NSE: DIACABS, BSE: 522163) disclosed its seventh order win in ten weeks on September 15, 2026 — a ₹179.43 crore Letter of Award from Adani Electricity Mumbai for specialised MV cables — extending a run of exchange announcements that began on July 5, 2026.
- What are the key numbers?
- July 5, 2026 — ₹435.71 crore (ex-GST) order for HT & LT power cables for 310 MW data centre projects in Hyderabad, to be executed by Larsen & Toubro, Sterling and Wilson, and Blue Star. Deliveries stated to commence August 2026 and complete by March 2027. Source: BSE filing dated July 5, 2026.
- What does Diamond Power say comes next?
- The copper line's first full quarter of commercial production is Q3FY27, since it started on August 20, 2026. The Hyderabad data centre order disclosed July 5, 2026 has a stated completion date of March 2027. The Adani Electricity Mumbai Letter of Award has no formal purchase order yet — the filing says one "will be issued."
Research and educational content only. Not investment advice. Drafted from regulatory filings and published automatically — see our editorial policy.