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Jyoti Structures Ltd (JYOTISTRUC)
Share Analysis – Quality, Valuation Zone, Price Trend & DeciZen Rating BSE: 513250 NSE: JYOTISTRUC Transmission Towers / Equipments | Small Cap | Jyoti Structures Share Price
₹11.44 -0.28 (-2.39%)
As on 07-Aug'26 16:59
Jyoti Structures Ltd (JYOTISTRUC)
Share Analysis – Quality, Valuation Zone, Price Trend & DeciZen Rating BSE: 513250 NSE: JYOTISTRUC Transmission Towers / Equipments | Small Cap | Jyoti Structures Share Price
₹11.44 -0.28 (-2.39%)
As on 07-Aug'26 16:59
Key Metrics
Valuation Multiples
Market Cap
₹1,366 Cr.
Current Price
₹11.4
52-Week Low / High
₹8 / 18
TTM EPS
₹0.5
TTM Sales
₹845 Cr.
Book Value per Share
₹4.3
P/E Ratio
21.22
Lower than its 5-year historical median
Industry PE
22
Price to Book (P/B)
2.68
Lower than its 5-year historical median
Price to Sales (P/S)
1.62
Lower than its 5-year historical median
EV/EBITDA
39.15
Lower than its 5-year historical median
Dividend Yield
0%
Profitability Efficiency
Return on Equity (ROE)
10.54%
Outperforms industry median
Return on Capital Employed (ROCE)
2.23%
Outperforms industry median
Return on Assets (ROA)
1.90%
Operating Profit Margin
3.2%
Net Profit Margin
7.46%
Gross Profit Margin
9%
Growth Momentum
1-yr vs 3-yr growth
1-yr vs 3-yr growth
Sales Growth (1 Year)
Improving versus 3-year growth rate
50.76%
Operating Profit Growth (1 Year)
-
-35.09%
Net Profit Growth (1 Year)
-
56.49%
Asset Quality
Promoter Holding
0.00%
Pledged shares (%) of Promoter's holding (%)
0.00%
Reserves
₹271 Cr.
Equity
₹238.7 Cr.
Face Value
₹2
All Time Low / High
₹0.65 / 279.27
Check Before You Invest
Quality
Not GoodValuation
FairCheck Valuation charts
Price Trend
Semi Strong
Is Jyoti Structures Ltd a good quality company?
Jyoti Structures Ltd is a weak quality company, based on a inconsistent multi-year financial track record.
This assessment is based on company’s performance on Revenue growth, ROCE, Equity and Assets, key margin ratios, cash conversion cycle, and debt to cash flow from operations and how it compares with its long term averages.
We have analysed the performance of the company on the following:
-
How has it performed on generating Profits?
By checking its Revenue growth, Gross, Operating and Net Margins compared to its last 5-year median.
-
How efficiently has it utilized Capital?
By checking its ROCE, ROA, ROE and its Cash Conversion Cycle.
-
How is it managing its Debt?
By checking its Debt to Equity and Cash Flow from Operations.
How does Jyoti Structures Ltd performance compare with that of its Peers?
Revenue growth of Jyoti Structures Ltd vs industry peers?
Jyoti Structures Ltd revenue CAGR is 0.00%, compared to the industry median CAGR of -10.91%, indicating faster growth and gaining its market share.
Promoter shareholding and pledge status of Jyoti Structures Ltd?
Promoters hold 0.00% of the Jyoti Structures Ltd, with 0.00% of their stake pledged, indicating no pledge risk.
Stock return of Jyoti Structures Ltd over the last decade?
Over the last 9 year(s), the stock has delivered a CAGR of 0.9% based on the current price.
10 Year X-Ray :
Analysis of Financial Track Record (Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end)
Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year endData adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end.
What is a Financial Track Record? How to read this chart in order to understand the data present here?
Financial track record gives insight into the company's performance on key parameters over the past ten years. MoneyWorks4me’s proprietary colour codes make it easy for retail investors to gauge the company’s past performance.
Jyoti Structures Ltd has not performed well majority of the past ten years indicating its past ten year financial track record is not good
Value Creation ⓘ
| Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | Mar'25 | Mar'26 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROCE % ⓘ | -13.9% | -155.2% | 0% | 0% | 0% | 0% | -0.2% | 1.2% | 1.6% | 2.2% | - |
| Value Creation Index ⓘ | NA | NA | NA | NA | NA | NA | -1.0 | -0.9 | -0.9 | -0.8 | - |
Growth Parameters ⓘ |
|||||||||||
| Sales ⓘ | 850 | 255 | 98.2 | 2.1 | 0 | 4.4 | 229 | 451 | 498 | 751 | 845 |
| Sales YoY Gr. | - | -70% | -61.5% | -97.9% | -100% | NA | 5,121.6% | 96.9% | 10.3% | 50.8% | - |
| Adj EPS ⓘ | -110.9 | -323.2 | -138.3 | -181.3 | -136 | -0.6 | -0.2 | 0.3 | 0.3 | 0.3 | 0.5 |
| YoY Gr. | - | NA | NA | NA | NA | NA | NA | NA | 0% | 10% | - |
| BVPS (₹) ⓘ | -107.6 | -431.5 | -566.9 | -746 | -882.1 | 2.1 | 0.4 | -0.1 | 4.8 | 4.1 | 4.3 |
| Adj Net Profit ⓘ | -1,427 | -4,158 | -1,780 | -2,332 | -1,749 | -47.3 | -12.5 | 24.4 | 35.1 | 38.9 | 64 |
| Cash Flow from Ops. ⓘ | 261 | 889 | -9.8 | -1.3 | 1,479 | -99.5 | -36 | -19.3 | -177 | -269 | - |
| Debt/CF from Ops. ⓘ | 20.2 | 6.4 | -648.4 | -5463.3 | 5 | -17 | -50.1 | -99.1 | -11.3 | -7.8 | - |
CAGR ⓘ
| 9 Years | 5 Years | 3 Years | 1 Years | |||||
|---|---|---|---|---|---|---|---|---|
| Sales ⓘ | -1.4% | NA | 48.5% | 50.8% | ||||
| Adj EPS ⓘ | NA | NA | NA | 10% | ||||
| BVPSⓘ | NA | NA | 121.2% | -14.7% | ||||
| Share Price | 0.9% | -0.3% | 5.1% | -31.6% | ||||
Key Financial Parameters ⓘ
| Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | Mar'25 | Mar'26 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Return on Equity % ⓘ | 223.1 | 119.9 | 27.7 | 27.6 | 16.7 | 0.9 | -10.5 | 76.6 | 11.8 | 7.2 | 12.9 |
| Op. Profit Mgn % ⓘ | -59.3 | -1220.9 | -683.7 | -41062.3 | 0 | -986 | -5.3 | 1.2 | 7.4 | 3.2 | 7.3 |
| Net Profit Mgn % ⓘ | -167.9 | -1632 | -1811.7 | -112644.3 | 0 | -1077.8 | -5.4 | 5.4 | 7 | 5.2 | 7.6 |
| Debt to Equity ⓘ | -3.8 | -1 | -0.9 | -0.7 | -0.7 | 9.4 | 31.9 | -245.3 | 3.5 | 4.3 | - |
| Working Cap Days ⓘ | 2,344 | 5,628 | 9,146 | 3,44,270 | 0 | 1,41,711 | 3,409 | 1,809 | 1,719 | 1,220 | 697 |
| Cash Conv. Cycle ⓘ | 1,663 | 4,176 | 7,586 | 3,08,521 | 0 | 1,22,856 | 3,032 | 1,579 | 1,481 | 1,054 | 600 |
Valuation of Jyoti Structures - Standalone
Analyst's Notes
No data found!
Management X-Ray
Shareholding Pattern
Promoter's Holding & Share Pledging
| Pledged * | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
* Pledged shares as % of Promoter's holding (%)
Financials
| PARTICULARS | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | Mar'25 | Mar'26 |
|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 850 | 255 | 98 | 2 | 0 | 4 | 229 | 451 | 498 | 751 |
| Operating Expenses ⓘ + | 1,436 | 3,382 | 770 | 852 | 254 | 48 | 241 | 446 | 461 | 727 |
| Operating Profit ⓘ | -586 | -3,127 | -672 | -850 | -254 | -43 | -12 | 5 | 37 | 24 |
| Operating Profit Margin (%) | -69.0% | -1,227.4% | -683.0% | -41,062.3% | - | -986.0% | -5.3% | 1.2% | 7.4% | 3.2% |
| Other Income ⓘ + | 21 | 9 | 47 | 47 | 0 | 8 | 14 | 24 | 8 | 46 |
| Interest ⓘ | 867 | 1,021 | 1,106 | 1,480 | 1,495 | 0 | 0 | 2 | 0 | 3 |
| Depreciation ⓘ | 51 | 27 | 20 | 16 | 10 | 7 | 5 | 7 | 9 | 13 |
| Profit Before Tax ⓘ | -1,483 | -4,167 | -1,751 | -2,300 | -1,758 | -43 | -4 | 20 | 36 | 55 |
| Tax ⓘ | -0 | -0 | 0 | 0 | 0 | 0 | 0 | -10 | -0 | -1 |
| Profit After Tax | -1,483 | -4,167 | -1,751 | -2,300 | -1,758 | -43 | -4 | 29 | 36 | 56 |
| PAT Margin (%) | -174.0% | -1,635.4% | -1,782.5% | -1,11,085.1% | - | -971.0% | -1.8% | 6.5% | 7.2% | 7.5% |
| Adjusted EPS (₹) | -115.0 | -323.0 | -136.0 | -178.0 | -136.0 | -0.6 | -0.1 | 0.4 | 0.3 | 0.5 |
| Dividend Payout Ratio (%) | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% |
| PARTICULARS | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | Mar'25 | Mar'26 | |
|---|---|---|---|---|---|---|---|---|---|---|---|
Equity and Liabilities | |||||||||||
| Shareholders Fund + | -1,384 | -5,550 | -7,293 | -9,597 | -11,347 | 181 | 57 | -8 | 573 | 491 | |
| Debt + | 3,237 | 3,495 | 3,935 | 4,492 | 4,806 | 1,690 | 1,803 | 1,916 | 1,996 | 2,083 | |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |
| Trade Payables | 421 | 489 | 510 | 523 | 534 | 56 | 124 | 106 | 132 | 116 | |
| Others Liabilities ⓘ | 3,192 | 4,289 | 5,264 | 6,235 | 7,410 | 260 | 301 | 327 | 297 | 223 | |
| Total Liabilities ⓘ | 5,466 | 2,722 | 2,416 | 1,653 | 1,402 | 2,187 | 2,285 | 2,341 | 2,997 | 2,913 | |
Fixed Assets | |||||||||||
| Net Fixed Assets ⓘ + | 113 | 84 | 58 | 42 | 32 | 27 | 31 | 33 | 42 | 69 | |
| CWIP ⓘ | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 1 | 2 | 3 | |
| Investments ⓘ | 24 | 7 | 7 | 7 | 7 | 7 | 7 | 8 | 8 | 8 | |
| Inventories | 110 | 50 | 42 | 39 | 31 | 25 | 73 | 72 | 94 | 146 | |
| Trade Receivables | 3,981 | 2,359 | 2,106 | 1,359 | 1,129 | 1,891 | 1,990 | 2,023 | 2,137 | 2,223 | |
| Cash Equivalents | 32 | 34 | 25 | 24 | 23 | 85 | 32 | 40 | 514 | 246 | |
| Others Assets ⓘ | 1,206 | 188 | 178 | 182 | 180 | 152 | 151 | 165 | 201 | 218 | |
| Total Assets ⓘ | 5,466 | 2,722 | 2,416 | 1,653 | 1,402 | 2,187 | 2,285 | 2,341 | 2,997 | 2,913 | |
| PARTICULARS | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | Mar'25 | Mar'26 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash Flow From Operating Activity ⓘ + | 261 | 889 | -10 | -1 | 1,479 | -100 | -36 | -19 | -177 | -269 |
| Cash Flow From Investing Activity ⓘ + | 154 | -341 | 0 | 0 | 0 | -0 | -11 | -7 | -13 | -23 |
| Cash Flow From Financing Activity ⓘ + | -487 | -919 | 0 | 0 | -1,481 | 170 | -7 | 34 | 615 | -74 |
| Net Cash Flow ⓘ | -72 | -372 | -9 | -1 | -2 | 70 | -53 | 8 | 425 | -367 |
| PARTICULARS | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | Mar'25 | Mar'26 |
|---|---|---|---|---|---|---|---|---|---|---|
| Ratios | ||||||||||
| ROE (%) | N/A | N/A | N/A | N/A | N/A | 0 | -4.48 | N/A | 12.67 | 10.54 |
| ROCE (%) | N/A | N/A | N/A | N/A | N/A | 0 | -0.19 | N/A | 1.59 | 2.23 |
| Asset Turnover Ratio | 0.15 | 0.06 | 0.04 | 0 | 0 | 0 | 0.1 | 0.2 | 0.19 | 0.25 |
| PAT to CFO Conversion(x) | N/A | N/A | N/A | N/A | N/A | N/A | N/A | -0.66 | -4.92 | -4.8 |
| Working Capital Days | ||||||||||
| Receivable Days | 1,743.90 | 4,520.20 | 8,295.60 | 0 | 0 | 0 | 3,090.40 | 1,622.60 | 1,524.20 | 1,059.70 |
| Inventory Days | 67.20 | 114.10 | 170.30 | 7,143.10 | 0 | 2,313.60 | 77.50 | 58.40 | 60.90 | 58.40 |
| Payable Days | 286.70 | 1,668.10 | 4,271.40 | 0 | 0 | 0 | 257.50 | 203.20 | 220.10 | 116.60 |
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Jyoti Structures Ltd FAQs
The current trading price of Jyoti Structures on 07-Aug-2026 16:59 is ₹11.44.
Market capitalization or market cap is determined by multiplying the current market price of a company's shares with the total number of shares outstanding. As of 06-Aug-2026 the market cap of Jyoti Structures stood at ₹1,365.6 Cr
The latest P/E ratio of Jyoti Structures as of 06-Aug-2026 is 21.22.
The latest P/B ratio of Jyoti Structures as of 06-Aug-2026 is 2.68.
The 52-week high of Jyoti Structures is ₹17.90 and the 52-week low is ₹7.92.
The TTM revenue is Trailing Twelve Months sales. The TTM revenue/sales of Jyoti Structures is ₹845 ( Cr.) .
Past 10 year’s financial track record analysis by Moneyworks4me indicates that Jyoti Structures Ltd is a below average quality company.
The key valuation ratios of Jyoti Structures Ltd's currently when compared to its past seem to suggest it is in the Fair zone.
The Price Trend analysis by MoneyWorks4Me indicates it is Semi Strong which suggest that the price of Jyoti Structures Ltd is likely to Rise-somewhat in the short term. However, please check the rating on Quality and Valuation before investing.
About Jyoti Structures Ltd
Jyoti Structures Limited (JSL) was incorporated as a private limited company on May 27, 1974. The company began commercial operations in 1979 with the opening of the first manufacturing facility at Nashik, not long after that Tata Exports decided to invest into the ownership of the company as they were looking for a reliable supplier of towers for their transmission line business. This gave JSL an opportunity to work on international projects right from the beginning of their operations.Jyoti Structures is solution provider in area of high voltage power transmission lines and Substations. The company is incorporated in 1976, presently operates in 40 countries. The company provides wide range of services from design, engineering consulting, tower testing, manufacturing, construction and project management.
The company’s corporate office is located in Mumbai and manufacturing units in Nashik and Raipur. It has a combined capacity of 76,000 MT of transmission line towers. It company owns domestic towers testing station at Ghoti, Igatpuri.
The company has subsidiaries namely JSL Structures, JSL Corporate Services, Shree Chhatrapati Shahu Power Company and Jyoti Structures Africa (Pty). The company has entered into joint venture with Gulf Investment Corporation (GIC) to form Gulf Jyoti International LLC. This unit will have manufacturing capacity of 33,000 MT.
The company’s manufacturing units has been accredited with various certifications such as ISO 9001, ISO 140001 and OHSAS 18001:1999.
Milestones
May 1974 - Incorporated as Jyoti Structurers Private Limited April
1979 - Commenced commercial production at our Nashik factory September
1988 - Entered into our first turnkey contract with the Maharashtra State Electricity Board February
1989 - Made an initial public offering of 9,20,000 Equity Shares of Rs. 10/- each at a premium of Rs. 5/- per Equity Share aggregating Rs. 13.8 million.
April 1989 - Listed on the BSE
July 1995 - Listed on the NSE
March 1993 - Commissioned a manufacturing unit at Urla Industrial Area, Raipur.
December 1996 - Set up an in-house tower testing facility at Ghoti, Igatpuri.
June 2005 - Established a joint venture company in Dubai viz. Gulf Jyoti International LLC (GJI) where we have a 30% equity stake.
September 2006 - Incorporated a subsidiary in South Africa viz. Jyoti Structures Africa Pty. Limited where we have a 70% equity stake.
March 2010 - Became the first company in India to test a 1200kV tower
December 2010 - Board of Directors approved the investment in Jyoti Holdings Inc., a corporation established under the laws of Delaware, the U.S.A. Consequently, Jyoti Americas LLC, a subsidiary of Jyoti Holdings Inc. will become our indirect subsidiary.
2010 - Became the first company in India to test a 1200kV tower
2011 - Started Manufacturing Operation in Texas,USA
Jyoti Structures has collaborated with Lauren Engineers and Construction Ltd. by acquiring 50% equity stake in the company.
Awards
1996-1997 - Certificate of Merit from Government of India, Ministry of Commerce for outstanding export performance in Capital goods exports.
1998-1999 - Certificate of Merit by India Trade Promotion Organisation for the second highest exports to Latin American Countries during
1998-99 in the category of ‘Engineering, Metallurgical and Electronic Products’ 1999 - National Export Awards for the year 1996-97 and 1997-98
2000 - Certificate of Export Excellence
2002 - Awards for Export Excellence by Engineering Export Promotion Council
2010 - Received an award from ESKOM for 500,000 incident free man hours worked on 765kV project
2010 - Received ‘Excellent Health and Safety Award’ from ESKOM, a power utility of South Africa for achieving 3.5 million man-hours worked without having a lost time injury
1996-1997 - Certificate of Merit from Government of India, Ministry of Commerce for outstanding export performance in Capital goods exports.
1998-1999 - Certificate of Merit by India Trade Promotion Organisation for the second highest exports to Latin American Countries during
1998-99 in the category of ‘Engineering, Metallurgical and Electronic Products’ 1999 - National Export Awards for the year
1996-97 and 1997-98 2000 - Certificate of Export Excellence The company received Award for Export Excellence from Engineering Export Promotion Council, India for achieving highest exports performance during 2000-01 amongst Non-SSI exporters in the panel Fabricated Steel Structures.
2002 - Awards for Export Excellence by Engineering Export Promotion Council
The company received Capital Goods Export Award from Government of India.
2010- Received an award from ESKOM for 500,000 incident free man hours worked on 765kV project.
Received ‘Excellent Health and Safety Award’ from ESKOM, a power utility of South Africa for achieving 3.5 million man-hours worked without having a lost time injury .
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