Diamond Power bags Rs 748-cr LoI from Adani Green

Diamond Power Infrastructure said it has received a letter of intent (LoI) worth Rs 747.64 crore from Adani Green Energy for the supply of power and solar cables for its projects in Khavda and Rajasthan.

Under the LoI, the company will supply 2,126 km of 33 kV high-voltage cables and 3,539 km of 3.3 kV solar medium-voltage cables. The purchase order has been placed on a kilometer-rate basis and includes a price variation formula.

Diamond Power Infrastructure is engaged in the business of manufacturing transmission & distribution of power products & services in India. The company's consolidated net profit zoomed 593.3% to Rs 27.73 crore on a 75.1% surge in net sales to Rs 438.33 crore in Q2 FY26 over Q2 FY25.

Adani Green Energy is Indias largest and one of the leading renewable energy companies in the world, enabling the clean energy transition. It develops, owns, and operates utility-scale grid-connected solar, wind, hybrid, and hydro pumped storage renewable power plants. The company has set a target of achieving 50 GW by 2030, aligned to Indias decarbonization goals. The company reported a 111.2% surge in consolidated net profit to Rs 583 crore despite a 5.3% decline in net sales to Rs 2,824 crore in Q2 FY26 over Q2 FY25.

Shares of Diamond Power Infrastructure rose 0.91% to Rs 144.35, while those of Adani Green Energy slipped 0.10% to Rs 1,012.30 on the BSE.

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