Shares of the Ashish Kacholia-owned company jumped over 5% on the back of an order worth ₹450 crore from Adani Energy Solutions.

Shares of Jyoti Structures, one of the leading EPC players in the energy sector, rose 5.3% to ₹In intraday trading on Wednesday, October 23, the company broke a two-day losing streak after the company announced a significant order win.

In a filing today, Jyoti Structures told investors it has secured ₹450 crore order from Adani Energy Solutions. The order includes survey, soil survey, supply of towers, foundations, installation, stringing and commissioning of LILO (line-in-line-out) 765 kV DC transmission line Bhuj II-Lakadia at Navinal, Gujarat on a turnkey basis. . The project is expected to be completed by April 2026, the application states.

This is the second order Jyoti Structures has received from Adani Energy Solutions in less than four months. In mid-July the company received an award ₹117.74 crore contract from Adani Group for construction and partial supply of 765 kV DC transmission line KPSIII-AP44.

Jyoti Structures shares are up 73% this year, building on a strong 50% gain in calendar year 2023, driven by a series of significant orders. In August the company received an order worth ₹105 crore from a private developer for the supply of towers for the 765 kilovolt DC transmission line project.

In April, the company successfully completed all three transmission lines provided by Mundra Port and Special Economic Zone, demonstrating its capabilities in the power transmission sector.

Jyoti Structures specializes in power transmission, distribution and substations, executing turnkey projects that include design, testing, manufacturing, installation and commissioning of transmission lines and power distribution projects both domestically and internationally.

According to Trendlyne, Ashish Kacholia, known as the ‘Big Whale’ of Dalal Street, acquired a fresh 2.52% stake in Jyoti Structures in the September quarter (Q2).

As per the latest shareholder ownership structure, general shareholders hold a majority stake in the company (96.8%), followed by Domestic Institutional Investors (DII) with 1.9% and Foreign Institutional Investors (FII) with 1.4%.

For the quarter ended June 2024 (Q1 FY25), the company reported consolidated net income of ₹5.09 crores as compared to ₹2.46 million for the same period last year. However, operating income fell to ₹88.29 crores from ₹185.17 crores on an annualized basis.

Star performer

Since March 2023, the company’s shares have shown a steady growth trend, rising from ₹5 per piece to the current trading price ₹32, which means an impressive increase of 540%.

Despite this remarkable rally, the stock remains about 90% below its all-time high. ₹311, achieved in February 2008.

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