, a leading manufacturer of power transmission and distribution cables and conductors, has crossed a market capitalisation of ₹10,000-crore mark on the back of a strong rally in stock price.
Once a bankrupt entity under insolvency proceedings, Diamond Power is now a key player supplying critical components for power evacuation, renewable energy projects, transmission lines and industrial applications.
The stock attracted investors attention on the back of a robust order book, strategic capacity expansion and deep ties to India’s booming power infrastructure sector. Shares have surged 35 per cent in the last one month with 1 year returns at 102 per cent.
The company produces a range of products including low, medium, high and extra-high-voltage cables up to 400 kV.
In 2022, the company was acquired through the NCLT process by GSEC Ltd for around ₹500 crore, when its market capitalisation stood at about ₹1,000 crore. Under the new promoter oversight, Diamond Power shares have risen over 500 per cent in three years, with the market cap rallying to over ₹10,000 crore.
The company’s strategic direction was driven by Himanshu Jayantilal Shah, Non-Executive Director and founder of the Monarch Group. With over 30 years of entrepreneurial experience, Shah was instrumental in the company’s revival and aggressive expansion.
As of March 30, Diamond Power’s outstanding order book stands at over ₹3,500 crore, offering revenue visibility for the next 12–24 months.
The company has been a major beneficiary of orders from the Adani Group and other key players in the power sector.
Recent wins include multiple high-value contracts from Adani Electricity Mumbai, Adani Green Energy, Adani Power, and Gujarat Energy Transmission Company.
Diamond Power is executing a major capital expenditure programme to double its cable manufacturing capacity and diversify into premium products.
Under its Vision 2030 plan, the company aims to achieve ₹10,000 crore in annual revenue by 2030.
Recent regulatory clearances from CBI/ED cases have also unlocked about ₹1,000 crore in assets, providing further fuel for expansion.
With India’s power sector witnessing unprecedented investment in transmission infrastructure, green energy corridors and electrification, Diamond Power Infrastructure is ideally placed to capitalise on the opportunity. It has a strong order book, expanding capacities and cost efficiencies through backward integration.