The shares of the power transmission company jumped 4.2 percent despite foreign investors has offloaded 51.37 lakh equity shares in the company.
With a market capitalization of Rs 3,166.43 crore, the shares of Jyoti Structures Ltd were trading at Rs 35.83 per share, increasing around 3.23 percent as compared to the previous closing of Rs 34.71 apiece.
The shares of the company have seen positive movement after foreign investor have offloaded 51.37 lakh equity shares which is equivalent to 0.58 percent in the company. However, as of September 2024, he holds 5.14 crore equity shares which is equivalent to 5.89 percent.
Financial Analysis:-
Examining the company’s financial performance, revenue plummeted by 52 percent from Rs 185.17 crore in Q1FY24 to Rs 88 crore in Q1FY25, and during the same time frame, net profit magnified multifold times by 150 percent from Rs 2.46 crore and Rs 5.09 crore. Still, buyer is not identified in this transaction.
Ace investors:-
Ace investor Ashish Kacholia posses 2,20,36,118 equity shares in the company which is equivalent to 2.52 percent as of September 2024.
Recent orders:-
According to the latest 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.
Moreover, 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.
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 kilometers 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.
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.
Stock Performance:-
The stock has delivered multibagger returns of nearly 208.57 percent in one year, and around 36.69 percent returns in the last six months. So far in 2024, the shares of Jyoti Structures have given positive returns of about 94.75 percent.
Company profile:-
Jyoti Structures Limited is engaged in the business of manufacturing transmission line towers, sub-station structures, tall antenna towers/masts, and railway electrification structures. The Company is involved in the turnkey/engineering, procurement, and construction projects involving surveys.
Written by:- Abhishek Singh
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