Smallcap stock engaged in manufacturing transmission line towers, sub-stations, railway electrification structures, and many more hit a 5 percent upper circuit in the day’s trade after Ashish Kacholia made a fresh investment in it.
Price Action
With a market capitalization of Rs. 2,343 Crores, the shares of Jyoti Structures Limited hit a 5 percent upper circuit in the day’s trade at Rs. 26.80 per equity share, from its previous day’s close price of Rs. 25.53.
What Happened
As per the latest shareholding data available for the September 2024 quarter, Ace Investor Ashish Kacholia has made a fresh investment in Jyoti Structures Limited by acquiring a 2.52 percent stake in the company consisting of ~2.20 Crore equity shares.
Recently Jyoti Structures Limited received a new work order from its client in Gujarat for the supply of towers for a 765 kv DC Transmission Line project, for a consideration of Rs. 105.57 Crores and the work order should be executed within 10 months.
About the Company
Jyoti Structures Limited is engaged in the manufacturing of transmission line towers, sub-stations, railway electrification structures, and many more. It also provides EPC services like foundation, erection, and testing of distribution networks, substations, and many more.
It is one of the leading manufacturers of EHV transmission line towers, telecom towers & substation structures. It operates from manufacturing units in Nashik, with in-house design, detailing, prototyping, testing, manufacturing, and supply capabilities.
Financials and Ratios
Its revenue from operations declined by 52 percent from Rs. 185.17 Crores in Q1FY24 to Rs. 88.29 Crores in Q1FY25, accompanied by profits of Rs. 2.46 Crores to Rs.5.09 Crores. It has a very high debt-to-equity ratio of 71.1.
Written by: Bharath K.S
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