Jyoti Structures

NSE: JYOTISTRUC · Heavy Electrical Equipment

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Snapshot

Unlock Jyoti Structures's vital signs

Growth · Profitability · Valuation · Strength · Conviction

Company Overview

Business

Jyoti Structures Limited is an engineering, procurement, and construction (EPC) company specialising in power transmission, distribution, and substation projects. The firm provides end-to-end solutions including design, manufacturing of transmission towers, and the installation of high-voltage electrical infrastructure.

Business Model

The company generates revenue through turnkey EPC contracts for power utilities and infrastructure developers, covering the entire project lifecycle from survey and fabrication to commissioning. It also manufactures specialised steel structures such as lattice towers and railway electrification components.

Growth Outlook

Growth is driven by the increasing demand for power grid expansion and rural electrification initiatives in India. The company is also positioned to benefit from the broader transition towards renewable energy integration and railway infrastructure modernisation.

Key Risks

  • Project Execution Risk. Delays in site acquisition, regulatory approvals, or supply chain disruptions can significantly impact project timelines and profitability.
  • Commodity Price Volatility. Fluctuations in the cost of steel and other raw materials used in tower manufacturing can compress operating margins.
  • Concentration Risk. Heavy reliance on government-led infrastructure spending makes the company vulnerable to shifts in public policy and budgetary allocations.
  • Competitive Intensity. The EPC sector is highly fragmented and competitive, leading to aggressive bidding that may pressure contract pricing.

Price

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Key Metrics

REVENUE

₹750 Cr

TTM · consolidated

+50.7%YoY

NET PROFIT

₹56 Cr

TTM · consolidated

+57.6%YoY

EPS

₹0.46

TTM · consolidated

+12.2%YoY

RETURN ON EQUITY

10.4%

TTM · consolidated

-18.9 ppYoY

RETURN ON CAPITAL EMPLOYED

2.3%

TTM · consolidated

+0.6 ppYoY

P/E

24.6x

Q4 FY26 · consolidated

24.6 vs -3.4x5Y avg

EV/EBITDA

47.7x

Q4 FY26 · consolidated

47.7 vs 153.2x5Y avg

EBITDA MARGIN

9.3%

TTM · consolidated

+0.5 ppYoY

NET PROFIT MARGIN

7.7%

Q4 FY26 · consolidated

+0.5 ppYoY

DEBT TO EQUITY

4.4x

Q4 FY26 · consolidated

+0.84xYoY

Peers · Heavy Electrical Equipment

CompanyMkt Cap (Cr)P/EEV/EBITDARev Gr YoYEBITDA MgnROEROCE1Y Return
Jyoti StructuresJYOTISTRUC
1,23124.6147.7150.7%9.3%10.4%2.3%-41.3%
IndosolarWAAREEINDO
1,7546.555.92110.8%40.0%241.6%110.3%+51.5%
Indo Tech.Trans.INDOTECH
1,34739.3227.4627.8%16.7%30.5%40.3%+83.0%
Exicom Tele-Sys.EXICOM
1,224-7.73-33.5732.7%-7.0%-44.0%-19.3%-7.0%
Danish PowerDANISH
1,21118.0%-14.0%
Swelect EnergySWELECTES
83716.939.145.7%28.5%6.6%10.6%+6.7%

As of Q4 FY26

Financials