Diamond Power wins Rs 195.48 crore Rajesh Power order

What the company announced

Diamond Power Infrastructure (DICABS) disclosed that it has received two purchase orders worth Rs 195.48 crore from Rajesh Power Services Limited. The orders relate to the supply of power cables for projects linked to PGVCL.

The latest win adds to a series of order announcements made by the company over recent weeks, as it positions itself as a supplier to power distribution upgrades and large infrastructure builds.

Scope of supply: 11 kV aluminium XLPE armoured cables

The contract covers the supply of 11 kV (E) 3-core Aluminium XLPE Armoured (A2XFY) power cables. The stated end-use is for PGVCL’s Disaster Management Scheme and the System Improvement / Urban Underground programme.

Because these are utility-linked programmes, the scope is tied to network strengthening and undergrounding work, which typically demands standardised cable specifications and time-bound deliveries.

Pricing structure and delivery timeline

Diamond Power said the prices are variable and linked to the IEEMA price variation formula. This mechanism typically adjusts invoicing based on movements in underlying input prices under an agreed formula, which matters for metal-heavy products such as power cables.

The company expects delivery within 12 months and noted that the supply is on an F.O.R. site basis.

Why the Rs 195.48 crore order matters

The company’s disclosure highlighted the size of the order relative to its recent revenue base. Diamond Power’s average quarterly revenue is Rs 479.50 crore, and the Rs 195.48 crore order equates to roughly 41% of one quarter’s sales.

That comparison is important for investors tracking execution visibility because it frames the order as meaningful in near-term revenue terms, even before considering other recent wins.

Disclosed order book and revenue coverage

Diamond Power stated that its total disclosed order book stands at Rs 2,113.16 crore, described as the sum of six orders disclosed across the last three fiscal quarters.

Based on the same average quarterly revenue of Rs 479.50 crore, the company indicated the backlog offers coverage of 4.41 quarters. This is presented as near-term execution visibility, subject to delivery schedules, working capital cycles, and price variation clauses.

Other recent order announcements referenced

Alongside the Rajesh Power Services order, the provided disclosures reference multiple contract wins across conductors and cables:

• A contract confirmation and Letter of Award from Adani Energy Solutions for supply of AL59 Moose and AL59 Zebra conductors valued at Rs 185.16 crore (excluding GST) and about Rs 218.49 crore (including GST). The awarded quantity totals 4,820 km (1,050 km Moose for Tuticorin and 3,770 km Zebra for Pune-III), with deliveries scheduled July 2026 to February 2027.
• A large order for Hyderabad data centre projects: Rs 435.71 crore (excluding GST) for supply of HT and LT power cables for the 310 MW HYD22 to HYD26 Data Center Projects in Hyderabad, awarded by Larsen & Toubro, Sterling and Wilson, and Blue Star. The disclosed quantity is about 21.35 lakh metres of cables, with deliveries scheduled from August 2026 through March 2027.
• A cable supply contract from Adani Electricity Mumbai valued at Rs 45.47 crore, described as a 12-month contract scheduled for execution from May 2026 to May 2027.
• A separate disclosure referenced an additional order of Rs 44 crore (counterparty not specified in the provided text).

Market moves cited in the disclosures

The supplied material also referenced sharp moves in the company’s stock following order announcements. One report noted the shares jumped 10% after the Hyderabad data centre cable order.

Separately, the stock was cited as hitting a record Rs 269.35 and rising 10% in a single session, with that move linked to recent wins totalling about Rs 620 crore for power cables and conductors. Another update mentioned the stock trading 0.17% lower at Rs 224.54 after the company announced the Adani Energy Solutions conductor order.

Upcoming Q1FY27 earnings call: date, time, and dial-in

Diamond Power has scheduled its earnings call for Q1FY27 on Friday, August 14, 2026, at 10:00 AM IST. The call is intended to discuss financial results for the quarter ended June 30, 2026, and provide stakeholders with updates on operational and financial performance.

For domestic participants, the company provided a universal primary number (+91 22 6280 1455) and an alternate number (+91 22 7115 8828). Participants were advised to register their interest by contacting Mohit Surana at mohit.surana@mnclgroup.com, and the company also mentioned an express join option using a Diamond Pass.

Key facts at a glance

What investors may track next

With multiple orders disclosed over a short period, attention may shift to the execution schedule across cable and conductor supplies, and how variable-price clauses translate into reported revenue during delivery periods.

The Q1FY27 earnings call is the next scheduled event mentioned, and it is likely to be the key forum where management discusses performance for the quarter ended June 30, 2026 and provides context on operational throughput and the pace of order execution.

Conclusion

Diamond Power Infrastructure’s Rs 195.48 crore purchase order win from Rajesh Power Services adds to a disclosed backlog of Rs 2,113.16 crore, with the company highlighting order coverage of 4.41 quarters based on its average quarterly revenue. The next immediate milestone on the calendar is the company’s Q1FY27 earnings call on August 14, 2026, where stakeholders will look for updates on execution and financial performance.