During Wednesday’s trading session, the shares of a company engaged in electricity, transmission, distribution and substation surged nearly 5 percent to Rs. 31.9 on BSE, after the company announced receiving an order worth Rs. 450 crores from Adani Energy Solutions Limited.
With a market cap of Rs. 2,769 crores, at 12:00 p.m., the shares of Jyoti Structures Limited were trading in the green at Rs. 31.53, up by nearly 3.8 percent, compared to its previous closing price of Rs. 30.39.
What’s the news:
According to the latest regulatory filings with the stock exchanges, Jyoti Structures Limited has been awarded a letter of acceptance (LoA) valued at Rs. 450.01 crores by Adani Energy Solutions Limited on October 23rd. The project is set to be completed over an 18-month period, concluding by April 2026.
This order involves the survey, soil investigation, supply of towers, foundations, erection, stringing, and commissioning of the LILO for the 765 kV DC Bhuj II-Lakadia transmission line at Navinal, Gujarat, and will be executed on a turnkey basis.
Previous Orders:
On 16th July, Jyoti Structures Limited secured an order worth Rs. 117.74 crores from Adani Energy Solutions Limited for the construction and part supply of 765kV D/C KPSIII-AP44 Transmission Line, which spans approximately 111 kilometres in Gujarat as part of the Khavda phase IV-Part A project.
On 28th August, the company received an order totalling nearly Rs. 105.6 crores for supplying towers for a 765 kV Transmission Line project in Gujarat from a leading Private Developer, with a completion timeline of 10 months.
Financials:
The company experienced a decline in its revenue from operations, showing a year-on-year decrease of around 52.3 percent from Rs. 185.2 crores in Q1 FY24 to Rs. 88.3 crores in Q1 FY25.
In contrast, its net profit increased during the same period from Rs. 2.5 crores to Rs. 5.1 crores, representing a growth of nearly 104 percent YoY.
Shareholding Pattern:
As per the latest shareholding pattern, the Foreign Institutional Investors (FII) hold a 1.37 percent stake, while Retail Investors and Domestic Institutional Investors (DII) hold a 96.83 percent and 1.81 percent stake in Jyoti Structures, respectively.
As of September 2024 shareholding pattern data available with the BSE, the ace investor Ashish Kacholia holds a 2.52 percent stake in the company.
Stock Performance:
The stock has delivered multibagger returns of nearly 138.5 percent in one year, and around 37 percent returns in the last six months. So far in 2024, the shares of Jyoti Structures have given positive returns of about 68.4 percent.
About the company:
Jyoti Structures Limited is engaged in the business of manufacturing transmission line towers, sub-station structures, tall antenna towers and masts.
Additionally, the company is also a leading player in turnkey/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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