The shares of the power transmission company hit 5 percent lower circuit of Rs 36.33 apiece after the company’s net profit plummeted by 36 percent in Q2FY25.
With a market capitalization of Rs 3,187.49 crore, the shares of Jyoti Structures Ltd were trading at Rs 36.3 per share, increasing around 5 percent as compared to a previous closing price of Rs 38.24 apiece.
Reason For Rise:-
The company shares have seen a bearish movement after Jyoti Structures Ltd announced financial performance in which revenue magnified by 32 percent on a yearly basis from Rs 81.46 crore in Q2FY24 to Rs 107.49 crore in Q2FY25, however, on a Quarterly basis revenue zoomed by 21 percent from Rs 88.29 crore in Q1FY25 to Rs 107.49 crore in Q2Y25.
Moreover, net profit fell drastically by 35 percent on a yearly basis from Rs 11.20 crore in Q2FY24 to Rs 7.06 crore in Q2FY25, meanwhile on a quarter-on-quarter basis net profit jumped by 40 percent from Rs 5.09 crore in Q1FY25 to Rs 7.06 crore in Q2FY25.
Ace investors:-
Ace investor Ashish Kacholia holds 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 totaling 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 182.38 percent in one year, and around 43.75 percent returns in the last six months. So far in 2024, the shares of Jyoti Structures have given positive returns of about 94.70 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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