Diamond Power Infrastructure to expand its current manufacturing setup

Diamond Power Infrastructure Ltd. | Cable | Capital Goods & Industrial Consumables | BSE: 522163 | NSE: DIACABS

14 Feb 2012 Evaluate

Diamond Power Infrastructure (DPIL) has received an approval to expand its current manufacturing setup for producing conductors and medium voltage cables at Vadadala in Vadodara to cater to the growing demand from its existing markets. The board of directors at its meeting held on February 13, 2012 has approved for the same.

The board approved the company's ambitious expansion project aggregating to Rs 753 crore to be completed over a period of 30 months in three phases beginning from April 2013. Out of which, the company is already investing in Rs 50 crore in 6.3MW windmill project which is expected to go on stream in March 2012.

In case of conductors, DPIL aims to take advantage of the current market scenario and become a key supplier of conductors. DPIL plans to expand its conductors manufacturing capacity to 150,500 MT per annum from the current capacity of 50,500 MT per annum. Along with the proposed expansion, the company has also proposed to increase its rod manufacturing facility to 122,000 MT per annum from the present 32,000 MT per annum.

In case of medium voltage cables, the company proposes to put up additional 3 lines, each with an installed capacity of 2,500 kilometers (kms) totaling 7500 kms which will augment the current capacity of 5600 kms to 12,700 kms.

The total project cost of Rs 753 crore as appraised by Dun & Bradstreet as well as Axis Bank, the funding is tied up with a mix of rupee term loan/ECB loan and suppliers credit aggregating Rs 440 crore, which has been be totally tied up and the remaining Rs 333 crore can be comfortably financed through internal accruals which are available with the company and will accrue progressively over the next 30 months implementation period.

Diamond Power Infrastructure is engaged in five business verticals--cables (low, high and extra high voltage), conductors, transformers, towers and various EPC projects-- where it undertakes planning, designing and commissioning of turnkey transmission and distribution projects.

Diamond Power Infra Share Price

172.65 2.85 (1.68%)

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