Jyoti touches the roof on bagging largest hydro power order from SSNNL

Jyoti is currently trading at its upper circuit limit of Rs. 79.30, up by 13.20 points or 19.97% from its previous closing of Rs. 66.10 on the BSE.

The scrip opened at Rs. 66.00 and has touched a high and low of Rs. 79.30 and Rs. 66.00 respectively. So far 41152 shares were traded on the counter.

The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 79.50 on 22-May-2014 and a 52 week low of Rs. 40.85 on 07-Oct-2013.

Last one week high and low of the scrip stood at Rs. 79.30 and Rs. 63.60 respectively. The current market cap of the company is Rs. 132.58 crore.

The promoters holding in the company stood at 32.66% while Institutions and Non-Institutions held 13.70% and 53.64% respectively.

Jyoti, a leading manufacturer of Hydro Turbines & Generators based in Vadodara, Gujarat has won a major and prestigious order from Sardar Sarovar Narmada Nigam (SSNNL) in joint venture (JV) with Megha Engineering & Infrastructures (MEIL), a leading civil infrastructure company from Hyderabad, worth Rs 422.98 crore for complete EPC of Civil, Electro-Mechanical and Hydro-Mechanical works including 5 years Operation and Maintenance for Saurashtra Branch Canal Project in Mehsana district. The company’s portion in this order will be about Rs 100 crore for supply of electro-mechanical equipment.

The project includes 3 Power Houses on Saurashtra branch canal having 9 numbers of 5MW Full Kaplan machines totaling 45MW capacity. The company is responsible for Electro-Mechanical works including Turbine-Generator with all auxiliaries and PLC based SCADA system for fully automated operation of all power houses and switchyard. Complete Turbine-Generator sets will be designed and manufactured at Jyoti’s Vadodara factory having state of the art design and manufacturing facilities. The project is to be completed within 24months.

The power produced from these plants will offset power required for canal operation to some extent and hence stimulate the energy conservation activity for the project. This is the largest hydel order received by the company till date. This order confirms the company’s capability and capacity to provide complete turnkey solutions for various small hydro turbines.

The company has received major orders totaling to about Rs 441.06 crore since April 2014 till date. In addition to SSNNL order as mentioned above, major orders received since April 2014 include Rs 51 crore from NCC for Sauni Yojana Link 3, Package 1; Rs 49.04 crore from NCC for Sauni Yojana, Link 3, Package 2; Rs 95 crore from G Shankar for Koppal Lift Irrigation scheme Stage2; Rs 41 crore from NCC for Chambal Bhilwara Water Supply Project, Phase-1, Package-1; Rs 15.21 crore from NTPC for Vindhyachal STPP; Rs 9.22 crore from NTPC for Solapur STPP; Rs 10.95 crore from RRVUNL; Rs  16.30 crore from GETCO for VCB Panels, etc. At present, the company has pending orders of Rs 900 crore.