Jyoti Structures Limited has received an order worth ₹389.36 crore from Adani Energy Solutions Limited. The contract covers the supply of towers, survey, soil investigation, foundation work, erection, stringing, testing, and commissioning of the 765 kV DC transmission line between Boisar II and Pune III.
The project is to be completed within 18 months from LOA awarded date.
According to Jyoti Structures’ exchange filing, the order includes a full turnkey execution. The company will handle everything from supply to installation and commissioning. The project is scheduled for completion in a year and a half from the date of the award.
Before this order, Jyoti Structures had an order backlog of approximately ₹2,000 crore. This includes a ₹741 crore contract for an 800 kV High Voltage Direct Current (HVDC) project from Power Grid Corporation of India Limited.
In October 2024, the company secured another order from Adani Energy Solutions worth ₹450 crore for a transmission line project in Gujarat. That project is expected to be completed by April 2026.
In August 2024, it received a ₹106 crore order for tower supply for a 765 kV transmission line, with a 10-month deadline. Another ₹118 crore order was awarded in July 2024 for the construction and part supply of a 765 kV transmission line.
To meet growing demand, Jyoti Structures is restarting its second tower manufacturing unit in Nasik by March 2025, adding 33,000 MT of capacity to its existing 36,000 MT. It is also considering resuming operations at its Raipur unit, which has a 40,000 MT annual capacity.
The company is also planning a ₹500 crore rights issue, announced in November 2024. Further details, including the pricing and record date, are yet to be disclosed.
On February 25, 2025, Jyoti Structures’ share price fell 2.4% to ₹16.91 at 12 PM, continuing a five-day losing streak. The stock has dropped 35.70% over the past six months and 25.75% in the past year.
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Published on: Feb 25, 2025, 4:05 PM IST
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