India grid upgrades gaining steam
Execution on India’s grid is the theme — cable and EPC players (Diamond Power, RR Kabel) plus automation, BESS and smart‑grid projects are in focus, while logistics firms like Premier Roadlines are seeing tailwinds; markets expect margins and pricing power to improve. This shift matters if you track construction‑grade suppliers or electrical equipment demand abroad. (x.com)
Diamond Power Infrastructure received a Letter of Intent to supply power cables worth ₹66.18 crore to Hild Projects Pvt Ltd, with execution scheduled between January and June 2026. (cnbctv18.com (cnbctv18.com)) R R Kabel reported consolidated Q4FY25 revenue of ₹2,218 crore, EBITDA of ₹195.8 crore and EBITDA margin of 8.8%—an expansion of 220 basis points year‑on‑year—after W&C revenue of ₹1,956 crore and FMEG revenue of ₹261 crore. (business-standard.com (business-standard.com)) SECI’s large BESS auctions have moved to gigawatt scale: JSW Neo Energy and Reliance Power were each awarded 500 MW / 1,000 MWh in SECI’s 1,000 MW / 2,000 MWh tender, with discovered tariffs around ₹3.81 lakh/MW/month. (mercomindia.com (mercomindia.com)) Industry data show execution lag risks: IEEFA calculates India auctioned roughly 12.8 GWh of BESS capacity between 2022 and May 2025 while only about 219 MWh was reported operational as of that analysis. (thehindubusinessline.com (thehindubusinessline.com)) The smart‑meter push remains uneven: the RDSS/Smart Meter National Programme targets roughly 250 million prepaid smart meters by 2025–26, while industry trackers reported about 22.9 million meters installed as of March 12, 2025. (energy.prayaspune.org (energy.prayaspune.org) eninrac.com (eninrac.com)) Tender activity for grid automation is high—tender databases recorded more than 1,500 SCADA and automation tenders published in 2025—signalling recurring procurement opportunities for substation automation and distribution‑level control systems. (tenderdetail.com (tenderdetail.com)) Premier Roadlines executed 35,739 orders for 695 customers in FY25 and reported managing a fleet of 23,309 vehicles across operations, with FY25 consolidated sales of about ₹2,888.95 million—highlighting project‑logistics volumes tied to infrastructure and power deliveries. (prlindia.com (prlindia.com) marketscreener.com (in.marketscreener.com))
