In Tuesday’s trading session, the shares of an EPC (Engineering, Procurement and Construction) company in the field of Power Transmission & Distribution hit a 5% upper circuit at Rs. 27.07, after the company secured an order worth Rs. 117.7 crore from Adani Energy Solutions Limited.
With a market capitalisation of Rs. 2,293.7 crore, the shares of Jyoti Structures Limited opened in the green at Rs. 25.8, as against its previous closing price of Rs. 25.79.
What’s the News:
Jyoti Structures informed the stock exchanges regarding a Rs. 117.74 crore (including GST) order secured from Adani Energy Solutions Limited, formerly known as Adani Transmission Limited.
The order is for the construction and part supply of 765kV D/C KPSIII-AP44 Transmission Line (approx. 111 kilometres) in Gujarat under Khavda phase IV-Part A, to be executed by 31st October 2025.
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Previous News:
On 18th April, Jyoti Structures successfully commissioned a 765 KV, Double Circuit, Hexa Bundle Conductor transmission line from Khavda to Bhuj with a contract value of Rs. 382.14 crores.
This is the highest rating of transmission lines built in India, and the line was test-charged on 19th December 2023 and is now in operation.
Financials:
Financially, the company experienced a fall in its revenue from operations, showing a year-on-year decline of 17.2 percent from Rs. 155.8 crore in Q4 FY22-23 to Rs. 129 crore in Q4 FY23-24.
However, its net profit increased during the same period from Rs. 5.5 crore to Rs. 14.12 crore, indicating a growth of 156.7 percent YoY.
Additionally, the company’s Rights issue committee on 6th April and approved the Letter of Offer for the Rights Issue. The issue opened on 15th April and closed on 29th April.
Jyoti Structures’ Rights Issue has been subscribed by 207 percent, with the company receiving applications worth Rs. 361.66 crores pursuant to its Rights Issue as against an Issue Size of Rs. 174.63 crores.
Stock performance:
The stock has delivered multibagger returns of nearly 216 percent in one year, and around 30.4 percent of positive returns in the last six months. So far in 2024, the shares of Jyoti Structures have given about 44.7 percent of positive returns.
About the company:
Jyoti Structures Limited is engaged in the manufacturing of transmission line towers, sub-station structures, tall antenna towers and masts.
The company is also a leading player in Turnkey or EPC projects involving survey, foundation, designing, fabrication, erection and stringing activities of extra high voltage transmission lines and procurement of major bought-out items, supply of lattice and pipe type structures, civil works, erection, testing and commissioning of switchyard/substations and distribution networks.
Written by Shivani Singh
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