BUSINESS
The company is currently the lowest bidder in projects worth about Rs800 crore.
Vadodara-based Diamond Power Infrastructure (DPIL) is looking at increasing its turnkey order backlog from a little over Rs800 crore now to Rs1,500-1,600 crore by the end of the fiscal, said managing director Amit Bhatnagar.
The company is currently the lowest bidder in projects worth about Rs800 crore.
DPIL, formerly Diamond Cables, has four business segments—turnkey or EPC (engineering, procurement, construction), conductors, cables, transformers and recently, transmission lines.
The company’s EPC expertise included installation of overhead transmission lines, distribution lines, underground cabling and substation projects.
DPIL’s clients include, other than Power Grid Corporation of India, Larsen & Toubro, Kalpataru Power Transmission, Jyoti Structures, Crompton Greaves and State Electricity Boards (SEBs), among others.
“Currently we have no projects from Power Grid and we are not expecting anything from them this fiscal either,” Bhatnagar said.
DPIL expects its turnkey business to contribute the most, at Rs500 crore, among all its segments, to its topline of Rs1,400 crore this fiscal. DPIL closed 2009-10 with sales of Rs847 crore.
“The outlook for next fiscal is also good. We are looking at an order-book growth of 30%,” Bhatnagar said, adding that the size of orders ranges from Rs5 crore to Rs500 crore.
Of the nearly Rs8.4 lakh crore power spend in the Eleventh Five-Year Plan (2007—2012), nearly half is on transmission & distribution, according to a December 6 report by Anagram Research.
“Diamond Power Infrastructure is the only EPC player with major captive facilities (80% of the project cost) which gives the company an advantage (higher margins & lesser volatility, lower cost of carry) over other EPC players who outsource 60% to 70% of the project work,” said analyst Sahil Shah in the report.
Talking of the company’s manufacturing business, Bhatnagar said it has just completed Rs300 crore capex at its two facilities in Vadodara, one of which is for transmission lines, and one in Silvassa. “We won’t be adding any capacity next year,” Bhatnagar said.
For the quarter ended September 30, DPIL’s net profit rose 66% from a year ago to Rs28 crore on a doubling of net sales to about Rs350 crore.
As Sky Force nears Rs 150 crore, Nimrat Kaur treats househelp, her kids with movie screening
IND vs ENG: Shreyas Iyer creates history, becomes first player to achieve THIS massive milestone
Meet man, India's richest banker, who has bought Rs 202 crore property, his net worth is Rs...
'Heard there was....': Former India head coach provides major update on Virat Kohli's injury
A New Geopolitical Era: India and Israel's Role in the Evolving Middle East
David Warner’s touching moment with fans after Dubai Capitals reaches final of DP World ILT20
India’s Largest Book Stall Network: PrashantAdvait Foundation’s Mission to Revive Reading Culture
Mawra Hocane stuns in pastel mint green lehenga at her wedding to Ameer Gilani
Deepinder Goyal's Zomato changes its name, CEO shares journey of company, it is now called...
Rose Day 2025: Know the date, history, significance of each rose colour ahead of Valentine's day
'BJP-led NDA works for Santushtikaran, not Tushtikaran': PM Modi in Rajya Sabha
Who is Belle Gibson? Australian wellness guru created fake cancer story and later...
DP World ILT20 2025: Dubai Capitals clinch last ball thriller against Desert Vipers to reach final
Jeet Adani-Diva Shah wedding: First pic from Gautam Adani's mansion OUT as wedding festivities begin
Sunita Williams’ Spacewalk: A Record-Breaking Mission and a Stunning Selfie from Space
IND vs ENG: Ravindra Jadeja creates history in Nagpur, surpasses James Anderson to become....
Can IAS officers change cadres after marriage? Here's what rules say
Pavan Kumar Joshi innovates unemployment benefits payment security
Anil Ambani's company's share price surges over 6 per cent after it earns profit of Rs...
Why Dale Bhagwagar is Bollywood's only PR guru
Meet Anjum Khan, wife of cricket star Shivam Dube, her net worth is Rs...
IAF Mirage 2000 fighter aircraft crashes in MP's Shivpuri during training sortie
Meet IAS Tina Dabi's mother, who cleared UPSC to become IES, later resigned due to...
Good news for Infosys employees! Company to roll out annual hike letters by end of...
BIG win for India's largest govt bank, earns Rs 16891 crore profit in just...
Ajith Kumar's fans celebrate, throng theatres after Vidaamuyarchi's worldwide release: Watch
Purnam’s Spring Edit: Where heritage meets handcrafted luxury
RTPS Bihar: Apply for income, caste, and domicile certificates
'Welfare of students very close to Government's heart': EAM Jaishankar in Rajya Sabha
IND vs ENG: Why is Virat Kohli not playing 1st ODI vs England in Nagpur?
Man's love for Indian wife knows no bounds, makes dosa batter from scratch, video goes viral
Meet woman, CRPF officer, who cracked UPSC exam in first attempt, became...
Trump administration plans to pressure the IOC to come up with a uniform transgender athlete ban
PM Modi's 'Pariksha Pe Charcha' to feature Deepika Padukone, Mary Kom, Sadhguru among others
Why speed matters: Ajay Chava on overhauling CI/CD pipelines for modern development
What does "i" stands for in iPhone, iPad, and other Apple products? Check here to know
Meet Pakistani actress whose leaked private video went viral, often shares bold photos, she is..
After Isha Ambani, Ananya Birla set to enter into new space, it is...
Shah Rukh Khan hugs Aamir Khan at Loveyapa screening, fans say '90s' kids can fly now': Watch
Meet Diva Shah, daughter of diamond tycoon, she is set to marry Gautam Adani’s son Jeet Adani on...
After US, Israel halts participation in UN Human Rights Council
Sanam Teri Kasam actress Mawra Hocane ties the knot with Pakistani star Ameer Gilani, see photos
Meet woman who left MNC job to pursue her uncle’s dream, later cracked UPSC to become IPS officer
Mukesh Ambani buys India’s first bulletproof Rolls-Royce Cullinan, Its price is Rs....
Anil Ambani meets Maharashtra CM Devendra Fadnavis as his Rs 16015 crore company is looking for...
DNA TV Show: What is US President Donald Trump's Gaza plan?
Anil Ambani's company's BIG win, reports Rs 420000000 profit in 3 months, its business is...
US President Donald Trump invites PM Modi on working visit to White House next week
Watch: Malaika Arora's 'oops moment' in short dress caught on camera, video viral
Little girl's adorable dance to 'Maula Mere Maula' captivates netizens, WATCH viral video
India beats China to become world’s second-largest market for...