Order Win
Diamond Power Infrastructure Secures ₹185.16 Crore Order from Adani Energy Solutions for AL59 Conductors
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- Diamond Power Infrastructure Limited (DPIL) has received a Letter of Award (LOA) from Adani Energy Solutions Limited (AESL) for the supply of AL59 aluminium alloy conductors for two transmission projects.
- The contract is valued at ₹185.16 crore (excluding GST) and approximately ₹218.49 crore including GST, with deliveries scheduled between July 2026 and February 2027.
- The order strengthens DPIL’s order book and reinforces its position in India’s expanding power transmission sector.
PRICE-SENSITIVE TRIGGER
Event: Diamond Power Infrastructure received a Letter of Award (LOA) from Adani Energy Solutions Limited for the supply of AL59 aluminium alloy conductors.
Type: Order Win
Impact: Positive
Immediate Effect: The order enhances revenue visibility for FY27 and supports capacity utilization, while strengthening the company’s relationship with one of India’s leading transmission infrastructure developers.
financials:
Key Metrics:
- Order Value (Excluding GST): ₹185.16 crore
- Order Value (Including GST): Approximately ₹218.49 crore
- Pricing Basis: Variable price linked to Aluminium LME, premium and USD/INR exchange rate
- Execution Period: July 2026 to February 2027 (approximately 8 months)
Operational Metrics:
- AL59 Moose Conductor: 1,050 km (Tuticorin Project)
- AL59 Zebra Conductor: 3,770 km (Pune-III Project)
- Total Conductor Supply: 4,820 km
Highlight:
- DPIL secured a ₹185.16 crore transmission conductor supply order from Adani Energy Solutions, with deliveries scheduled through February 2027.
What Happened ?
Diamond Power Infrastructure announced that it has received a Contract Confirmation and Letter of Award from Adani Energy Solutions Limited for supplying AL59 aluminium alloy conductors for two major power transmission projects.
The scope covers the design, engineering, manufacturing, testing, packing, dispatch, transportation, and transit insurance of conductors on a Delivery-at-Place (DAP) basis. The contract will be executed over approximately eight months, with deliveries beginning in July 2026.
The contract price remains variable and will be adjusted according to the agreed price variation formula based on aluminium prices on the London Metal Exchange (LME) and the USD/INR exchange rate prevailing before dispatch.
key details
Order Details:
- Awarding Entity: Adani Energy Solutions Limited (AESL) for its project SPVs.
- Nature of Contract: Design, engineering, manufacturing, assembly, testing, packing, dispatch and transportation of AL59 aluminium alloy conductors.
- Order Type: Domestic.
- Delivery Basis: Delivery at Place (DAP).
- Execution Timeline: July 2026 to February 2027.
- Delivery locations will be communicated separately by AESL.
Note:
- The contract follows a variable-price mechanism, meaning the final realization may differ based on aluminium prices and foreign exchange movements.
Project Structure:
The contract includes supply for two transmission projects:
- Tuticorin Project
- AL59 Moose Conductors
- Quantity: 1,050 km
- Pune-III Project
- AL59 Zebra Conductors
- Quantity: 3,770 km
According to the delivery schedule shown on page 3, dispatches will continue from July 2026 through February 2027, with phased deliveries aligned to project requirements.
Strategic Importance:
- Improves revenue visibility for FY27.
- Strengthens DPIL’s relationship with Adani Energy Solutions.
- Supports India’s ongoing transmission infrastructure expansion.
- Reinforces DPIL’s position in the high-voltage conductor manufacturing segment.
Note:
- In the management commentary on page 3, the company stated that the award reflects continued customer confidence in its manufacturing capabilities and aligns with India’s growing transmission capex cycle.
Risk Analysis
Summary:
- The contract strengthens DPIL’s order book, but the final realization remains sensitive to commodity prices and foreign exchange movements due to its variable-price structure.
Key Risks:
- Final contract value may vary with Aluminium LME prices.
- Currency fluctuations (USD/INR) could affect realizations.
- Timely execution depends on customer delivery schedules.
- Delays in project execution may postpone revenue recognition.
- Commodity price volatility could influence profitability.
Worst Case:
- A sharp decline in aluminium prices, adverse exchange rate movements, or execution delays could reduce the realized contract value or defer revenue recognition.
Risk Level: Medium
Company Commentary
- The order demonstrates continued confidence from a marquee customer in DPIL’s conductor manufacturing capabilities.
- The award strengthens the company’s existing relationship with Adani Energy Solutions.
- The contract improves revenue visibility for FY27.
- The order reflects continued growth in India’s power transmission capital expenditure cycle.
Official Exchange Filing: Diamond Power Infrastructure Limited
