**Ambitious Growth Plans for Diamond Power Infrastructure Ltd by 2030**
Diamond Power Infrastructure Ltd (Dicabs), a Vadodara-based company with ties to Gautam Adani’s family, has set an ambitious revenue goal of ₹10,000 crore by 2030, a significant leap from its projected ₹1,115 crore for the fiscal year 2024-25. This growth trajectory follows the acquisition of Dicabs by Gujarat-based air-cargo firm GSEC Ltd, which successfully revitalized the power cables and conductors manufacturer after purchasing it from bankruptcy for just ₹500 crore in 2022.
A substantial portion of Dicabs’s recent growth can be attributed to its connection with the Adani Group. Rakesh Ramanlal Shah, the promoter and director of Dicabs, is married to Priti Shah, Adani’s sister. Additionally, Shah and the chairperson of the Adani Group have partnered in a business venture—Smart Meters Technologies Pvt. Ltd, a joint venture between Adani Total Gas Ltd and GSEC. Notably, around 82% of Dicabs’s orders, amounting to ₹3,900 crore since the start of the 2023-24 fiscal year, have originated from the Adani Group, an increase from 75% in the previous year, according to company disclosures.
The Adani Group, a major player in coal-based power, renewable energy, and power transmission, is a leading consumer of power conductors and cables in India. In addition to its ambitious revenue growth target, Dicabs plans to aggressively expand into international markets, including West Asia, Africa, and South America, as stated by Rakesh Shah in the company’s annual report for 2024-25. The company also aims to develop consumer brands as part of its Vision 2030 strategy, which focuses on achieving a topline of ₹10,000 crore through volume growth, technological advancements, and export momentum.
**Key Highlights:**
– **Turnaround Success**: Since GSEC’s acquisition in 2022, Dicabs has transformed into a rapidly growing cable manufacturer with a ninefold revenue target by 2030.
– **Adani Connection**: Over 80% of recent orders are from the Adani Group, although these are not classified as related-party transactions under SEBI regulations.
– **Market Momentum**: Dicabs’s shares have surged over 500% in three years, but the promoter’s holding of over 84% faces regulatory scrutiny for potential dilution.
**Significant Transformation**: Following its acquisition by GSEC, Dicabs has become one of India’s top suppliers of cables and conductors. The company has invested in backward integration by establishing two aluminium rod mills and is planning to expand into consumer cables. The annual report highlights that the new ownership has led to a “significant transformation,” resulting in substantial revenue growth and increased market valuation, primarily driven by synergistic orders from within the Adani Group.
The market has responded positively to Dicabs’s rapid turnaround and growth potential, with its stock price reflecting a remarkable increase of over 500% since the change in ownership.
**FAQ**
**What is Diamond Power Infrastructure Ltd’s revenue target for 2030?**
Dicabs aims to achieve a revenue target of ₹10,000 crore by 2030, significantly up from ₹1,115 crore projected for 2024-25.
