Diamond Cables bags L&T order

The Vadodara-based Diamond Cables Ltd (DCL), manufacturers of cables and conductors, has bagged an order worth Rs 2.8 crore from Larsen and Toubro (L&T) for the supply of over 1,200 km of aluminium alloy conductors. These conductors will be used for a trunkey project with the Madhya Pradesh State Electricity Board (MPSEB) at Gwalior.

The order is expected to be executed by the end of the current financial year.

"The outstanding order book position of the company at present stands at over Rs 60 crore with the implementation of the corporate debt restructuring proposal. The performance of the current quarter is expected to increase by over 40 per cent in comparison to the corresponding quarter last year," said Amit Bhatnagar, managing director, Diamond Cables.

The company has two manufacturing units, one at Savli at Vadodara with a capacity of over 27,000 metric tonne per annum, while the second plant at Silvasa has a capacity of over 11,000 metric tonne per annum. At present the company utilises over 50 per cent of its installed capacity.

The company's clientele comprises industry majors such as ABB, Reliance Energy, Tatas, L&T, GIPCL, KPCL, and Crompton and Greaves apart from various Birla group companies and state-owned electricity boards.

DCL is the consortium partner of Reliance Energy and L&T for turnkey electrical transmission and distribution projects in India and abroad.

The company has also entered into a long-term arrangement with Eurostar of the UK for the supply of power cables for the London-Paris tunnel rail line project.

The $48 billion British firm will be employing the supplies from the company for the first phase of the order worth Rs 14 crore, which is expected to be completed by the end of the current financial year.

Over 18 per cent of the company's turnover comes from exports, which the company plans to increase to 30 per cent by the end of the current financial year.

At present the company exports to European, Middle East and a few African countries.

The company has reported a turnover of Rs 70 crore in the last financial year and with the latest order it hopes to close the current financial year with a turnover of over Rs 90 crore.

The company, incorporated in 1970, is at present the Asia's largest manufacturer of All-Aluminum-Alloy conductors.

Mideast Metals Consulting based at Middlesex, London, has assessed the integrated capacity of the ISO 9002 company as 18,000 tonne of aluminium alloy wire rods and 30,000 tonne of alloy conductors.

The unit can manufacture extra high voltage conductors suitable of transmitting 400 kv and kv power.