News ArticleDiamond Power Infrastructure Approves ₹170 Crore Capex for Integrated Polymer Complex at Vadodara
The new facility will manufacture advanced polymer compounds for cables up to 400 kV, positioning the company as India’s sole cable manufacturer with a fully integrated value chain
Diamond Power Infrastructure Limited's board approved a ₹170 crore capital expenditure plan for a two-phase Integrated Polymer Complex in Vadodara, set to be India's first super-clean cable-grade polymer facility, enhancing its cable manufacturing capabilities up to 400 kV insulation.
Diamond Power Infrastructure Limited
Financial Results
Diamond Power Infrastructure Limited's board approved a ₹170 crore capital expenditure plan to build an Integrated Polymer Complex at Vadodara in two phases, aiming to produce super-clean cable-grade polymers for cables rated up to 400 kV.
The complex will manufacture PVC/FRLS compounds, silane and peroxide cross-linked XLPE compounds, and super-clean XLPE compounds, serving high-voltage cable insulation needs.
This project is expected to make Diamond Power Infrastructure the only Indian cable manufacturer with a fully integrated value chain from aluminium rod to 400 kV cable insulation.
The board meeting also approved unaudited standalone and consolidated financial results for the quarter and half year ended September 30, 2026, accompanied by unqualified limited review reports from statutory auditors Naresh & Co.
Additionally, the board noted there is no deviation or variation in the utilization of funds raised through the Qualified Institutions Placement as per the audit committee’s review and monitoring agency report from CARE Ratings Limited for the quarter.
The meeting commenced at 11:15 a.m. and concluded at 12:50 p.m. on November 3, 2026.
Highlights
- ₹170 crore capex approved for Integrated Polymer Complex in Vadodara
- Two-phase project to produce advanced polymer compounds for cable insulation up to 400 kV
- Will be India’s first super-clean cable-grade polymer manufacturing facility
- Company becomes only Indian cable maker with full integration from aluminium rod to 400 kV insulation
- No deviation in utilization of QIP proceeds as reviewed by audit committee
- Unaudited Q2 and H1 FY 2026-27 financial results approved with unmodified auditor report
Key Data Snapshot
What happened
- Diamond Power Infrastructure's Board approved a ₹170 crore capital expenditure plan for a two-phase Integrated Polymer Complex in Vadodara.
- The new complex will produce PVC/FRLS compounds, silane and peroxide cross-linked XLPE compounds, and super-clean XLPE compounds designed for cables rated up to 400 kV.
- The facility will be India's first super-clean cable-grade polymer manufacturer and enable the company to offer a fully integrated value chain from aluminium rod to 400 kV insulation.
Key details
- The Board approved unaudited standalone and consolidated financial results for Q2 and H1 ended September 30, 2026, supported by unmodified limited review reports from statutory auditors.
- There was no deviation or variation in QIP funds utilization during the quarter, as per the audit committee review and CARE Ratings monitoring agency report.
- The capex plan approval was granted in principle during the meeting held on November 3, 2026, which started at 11:15 a.m. and ended at 12:50 p.m.
Regulatory and governance context
- The resolution on financial results and the QIP related statements comply with SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.
- Monitoring agency reports and utilization statements were reviewed ensuring regulatory compliance for funds raised through Qualified Institutions Placement.
Highlights
- ₹170 crore capex approved for Integrated Polymer Complex in Vadodara
- Two-phase project to produce advanced polymer compounds for cable insulation up to 400 kV
- Will be India’s first super-clean cable-grade polymer manufacturing facility
- Company becomes only Indian cable maker with full integration from aluminium rod to 400 kV insulation
- No deviation in utilization of QIP proceeds as reviewed by audit committee
- Unaudited Q2 and H1 FY 2026-27 financial results approved with unmodified auditor report
Disclosures
- SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015
- SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018
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