The company received letters of intent from Rajesh Power Services for a project under Dakshin Gujarat Vij Company, worth Rs 150.99 crore, and from Adani Electricity Mumbai, worth Rs 79.28 crore, for the supply of power cables.
The company stated that none of the promoters or promoter group companies had any interest in the entities that awarded the orders.
Diamond Power Infrastructure (DPIL) was one of the oldest cable and conductor manufacturers in India and one of the fastest-growing FMEG companies. DPIL had been acquired through the NCLT process by the GSEC-Monarch Group.
The company reported a net profit of Rs 6.42 crore in the quarter ended December 2024, compared to a net loss of Rs 5.28 crore in the quarter ended December 2023. Sales rose 412.71% to Rs 307.42 crore in Q3 FY25 from Rs 59.96 crore in Q3 FY24.