Jyoti Structures Ltd
NSE: JYOTISTRUC · Heavy Electrical Equipment · sector
₹9.01NSE close 2026-10-26
Key numbers
Market cap₹1,075 cr
Price₹9.01
52w high / low₹14 / ₹8
P/E17.0xSector median 27.8x
P/B2.3xSector median 5.4x
Book value₹4.0
Dividend yield–Sector median 0.19%
ROE7.7%Sector median 18.8%
ROCE2.7%Sector median 21.4%
OPM7.3%Sector median 15.1%
Debt / equity4.39xSector median 0.09x
EV/EBITDA47.0xSector median 21.4x
Interest cover14.0x
Current ratio6.00x
Sales growth 3y+48.5%Sector median +22.1%
Profit growth 3y–Sector median +27.5%
PEG–
Last 12 months to Jun 2026, Consolidated. "Sector median" = middle value of 43 companies in Heavy Electrical Equipment (P/E median leaves out loss-making companies). Tap ? for what a number means.
Things to know
- Cash ₹246 cr vs borrowings ₹2,084 cr (FY26): borrowings are higher by ₹1,837 cr.
- Borrowings rose in each of the last 3 years (₹1,803 cr → ₹2,084 cr).
- Operating profit covered interest 14.0x in the last 12 months.
- 11.90% of the promoters' shares are pledged (0.0% of all shares).
- Operating cash flow was below net profit in 5 of the last 5 years (FY26, FY25, FY24, FY23, FY22).
- Net loss in 1 of the last 8 quarters.
- Revenue was higher than a year earlier in 4 of the last 4 quarters.
- Other income was 50% of net profit in the last 12 months.
- Debtor days went from 1,642 (FY24) to 1,085 (FY26).
- No dividend in the last 5 financial years.
- Price ₹9.01 on 2026-10-26: -37.7% from the 52-week high, +13.5% from the 52-week low.
Plain facts from the filings, built by the same fixed rules for every company. A line appears only when the data for it is available. Not a view on the stock.
Charts
Weekly close · high ₹38.00 · low ₹8.83
RevenueNet profit
RevenueNet profit
Quarterly results
| ₹ cr | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 107 | 137 | 165 | 156 | 151 | 209 | 234 | 251 |
| EBITDA | 7 | 12 | 13 | 7 | 9 | 15 | 17 | 21 |
| OPM % | 6.4% | 8.8% | 7.7% | 4.4% | 5.8% | 7.0% | 7.4% | 8.5% |
| Other income | 2 | 1 | 2 | 6 | 5 | 5 | 6 | 4 |
| Net profit | 7 | 11 | 12 | 11 | 10 | 17 | -6 | 19 |
| EPS (₹) | 0.08 | 0.13 | 0.14 | 0.09 | 0.08 | 0.14 | 0.15 | 0.16 |
| Revenue YoY | +40.1% | +52.1% | +42.3% | +61.0% | ||||
| Profit YoY | +37.7% | +48.2% | -153.3% | +74.4% |
Consolidated figures where filed. Latest quarter Jun 2026.
Profit & loss (yearly)
| ₹ cr | FY22 | FY23 | FY24 | FY25 | FY26 | TTM |
|---|---|---|---|---|---|---|
| Revenue | 4 | 229 | 451 | 498 | 751 | 845 |
| EBITDA | -36 | -0 | 16 | 37 | 48 | 62 |
| Net profit | -43 | -4 | 29 | 36 | 11 | 40 |
| EPS (₹) | -1.02 | -0.06 | 0.41 | 0.40 | 0.47 | 0.53 |
| Revenue growth | +5,121.6% | +96.9% | +10.3% | +50.8% | +49.4% | |
| Profit growth | – | – | +23.3% | -68.9% | -4.3% | |
| Dividend / share (₹) | – | – | – | – | – |
| Compounded growth | 3 years | 5 years | Last 12 months |
|---|---|---|---|
| Sales | +48.5% | – | +49.4% |
| Net profit | – | – | -4.3% |
| EPS | – | – | – |
| Share price | – | -47.7% (2y) | -39.6% |
Balance sheet
| ₹ cr | FY21 | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|---|
| Shareholders' equity | – | – | 25 | -26 | 562 | 475 |
| Borrowings | – | – | 1,803 | 1,916 | 1,996 | 2,084 |
| Cash & equivalents | – | – | 32 | 40 | 514 | 246 |
| Total assets | – | – | 2,285 | 2,340 | 3,006 | 2,926 |
| Fixed assets | – | – | 32 | 33 | 42 | 69 |
| Capital work in progress | – | – | 0 | 0 | 0 | 1 |
| Investments | – | – | 0 | 1 | 1 | 1 |
| Receivables | – | – | 1,999 | 2,031 | 2,145 | 2,233 |
| Inventory | – | – | 73 | 72 | 94 | 146 |
| Payables | – | – | 150 | 131 | 158 | 146 |
Year-end figures from the March annual filing.
Cash flow
| ₹ cr | FY21 | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|---|
| Cash from operations | -2 | -100 | -44 | -19 | -177 | -269 |
| Cash from investing | 0 | -0 | -9 | -7 | -13 | -23 |
| Cash from financing | 0 | 170 | -0 | 34 | 615 | -74 |
| Capex | 0 | 1 | 10 | 10 | 18 | 41 |
| Free cash flow | -2 | -101 | -54 | -29 | -196 | -310 |
Free cash flow = cash from operations − capex.
Ratios by year
| ₹ cr | FY21 | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|---|
| ROE % | – | – | -16.1% | -112.9% | 6.3% | 2.3% |
| ROCE % | – | – | -0.2% | 1.1% | 1.4% | 2.2% |
| Debtor days | – | – | 3,183 | 1,642 | 1,573 | 1,085 |
| Inventory days | – | – | 207 | 127 | 174 | 137 |
| Payable days | – | – | 429 | 232 | 293 | 138 |
| Cash conversion cycle (days) | – | – | 2,961 | 1,537 | 1,454 | 1,084 |
| Working capital days | – | – | 2,989 | 1,571 | 1,807 | 1,154 |
Shareholding
| Holder | % (2026-09-30) |
|---|---|
| FIIs | 1.22% |
| DIIs | 0.01% |
| of which Insurance | 0.00% |
| Government | 0.00% |
| Public (non-institutions) | 98.77% |
| Quarter | May 2025 | Jun 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | Sep 2026 |
|---|---|---|---|---|---|---|---|---|
| Promoters % | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
| Public holders above 1% | % |
|---|---|
| Sharad Shyam Sanghi | 2.51% |
| Ullal Ravindra Bhat | 1.55% |
| SUN N Sand Hotels PVT Ltd | 1.34% |
| Anil Kumar Agarwal | 1.34% |
| Shyam Bihari Sanghi | 1.22% |
2,01,411 shareholders. Pledged: 11.90% of promoter shares.
Peers in Heavy Electrical Equipment
| Company | Market cap | P/E | P/B | ROE | ROCE | OPM | Sales 3y | Div yield |
|---|---|---|---|---|---|---|---|---|
| BHEL | ₹1,37,384 cr | 47.7x | 5.1x | 11.2% | 13.5% | 10.1% | +13.1% | 0.12% |
| ABB | ₹1,34,715 cr | 45.1x | 14.4x | 36.1% | 22.4% | 14.0% | – | – |
| CGPOWER | ₹1,31,237 cr | 104.9x | 16.5x | 16.5% | 21.3% | 12.5% | +30.7% | 0.16% |
| POWERINDIA | ₹1,19,751 cr | 104.0x | 23.1x | 24.5% | 29.9% | 14.9% | +22.2% | 0.02% |
| SIEMENS | ₹1,16,725 cr | 35.6x | 8.4x | 25.0% | 14.2% | 10.0% | +41.0% | 0.37% |
| ENRIN | ₹98,074 cr | 65.9x | 20.4x | 34.3% | 42.0% | 20.9% | – | 0.14% |
| GVT&D | ₹97,043 cr | 74.3x | 36.1x | 58.5% | 65.5% | 25.2% | +30.8% | 0.13% |
| SUZLON | ₹51,051 cr | 16.3x | 5.4x | 40.4% | 29.2% | 17.7% | +41.0% | – |
| THERMAX | ₹35,902 cr | 60.5x | 6.5x | 11.3% | 12.5% | 8.6% | +9.8% | 0.44% |
| JYOTISTRUC | ₹1,075 cr | 17.0x | 2.3x | 7.7% | 2.7% | 7.3% | +48.5% | – |
Dividends & corporate actions
| Ex-date | Action | Detail |
|---|---|---|
| 2025-02-10 | Rights | Rights 9:26 @ Premium Rs 14/- |
| 2024-10-31 | Other | Extra Ordinary General Meeting |
| 2024-07-26 | Other | Annual General Meeting |
| 2024-03-21 | Rights | Rights 6:37 @ Premium Rs 13/- |
| 2024-03-04 | Other | Extra Ordinary General Meeting |
| 2023-12-04 | Other | Extra Ordinary General Meeting |
| 2023-10-11 | Other | Extra Ordinary General Meeting |
| 2023-07-13 | Other | Annual General Meeting |
| 2022-09-21 | Other | Annual General Meeting |
| 2022-04-12 | Other | Extra Ordinary General Meeting |
| 2021-09-02 | Other | Annual General Meeting |
| 2021-06-04 | Other | Annual General Meeting |
| 2021-01-22 | Other | Annual General Meeting |
| 2016-09-19 | Other | Annual General Meeting |
| 2015-09-16 | Other | Annual General Meeting |
| 2014-09-10 | Other | Annual General Meeting |
| 2013-07-11 | Dividend | Annual General Meeting / Dividend - Re 0.80 Per Share |
| 2012-07-09 | Dividend | Annual General Meeting And Dividend Rs.1.10 Per Share |
| 2011-07-08 | Dividend | Annual General Meeting/Final Dividend Rs.1.10 Per Share And Special Dividend Re.0.40 Per Share |
| 2011-01-13 | Rights | Rights Issue - 1 Ncd (Issue Price Rs.120/- Per Ncd) With 2 Detachable Warrants (Exercise Price Rs.120/- Per Warrant) For Every 8 Equity Shares |
Documents
- Annual report FY26
- Annual report FY25
- Annual report FY24
- Annual report FY23
- Annual report FY22
- Announcements NSE filings
- BRSR FY26
- Latest results (data file) XBRL
- Announcements BSE filings
Links go to the original files on the exchange website.
About the company
- Transmission and Distribution: Electric power generation, transmission and distribution
| Sector | Industrials |
| Industry | Heavy Electrical Equipment |
| Sub-industry | Heavy Electrical Equipment |
| Symbol | JYOTISTRUC |
| BSE code | 513250 |
| ISIN | INE197A01024 |
| Face value | ₹2.0 |
| Incorporated | 1974-05-27 |
| Website | www.jyotistructures.in |
| Plants (India / abroad) | 4 / 0 |
From the company's filings (BRSR FY26).
Data built 2026-10-23 from NSE company filings (XBRL: Integrated Filing - Financials + financial results), NSE shareholding & pledge data; price = NSE close 2026-10-26.