Jyoti Structures Limited has delivered impressive financial performance in Q3FY26, showcasing strong growth across key metrics. The power transmission infrastructure company announced its unaudited financial results for the quarter and nine months ended December 31, 2025, reflecting robust operational execution and market demand.

Strong Revenue Growth Drives Performance

The company's revenue performance demonstrated exceptional momentum during the quarter. Revenue from operations reached ₹208.96 crores in Q3FY26, representing a substantial 52% increase from ₹137.35 crores in the corresponding quarter of the previous year.

Nine-Month Performance Reflects Sustained Growth

The nine-month period ending December 31, 2025, further reinforced the company's strong performance trajectory. Revenue from operations for the nine-month period reached ₹515.72 crores, marking a remarkable 55% growth compared to ₹333.14 crores in the corresponding period last year.

Operational Efficiency and Cost Management

The company maintained effective cost management while scaling operations. Cost of materials consumed increased to ₹119.74 crores in Q3FY26 from ₹47.73 crores in Q3FY25, reflecting higher business volumes. Employee benefit expenses rose to ₹19.84 crores from ₹14.87 crores, indicating workforce expansion to support growth.

Total expenses for the quarter reached ₹198.61 crores compared to ₹127.17 crores in the previous year, resulting in a profit before tax of ₹15.46 crores versus ₹11.47 crores.

Employee Stock Option Scheme Implementation

The company successfully completed the allotment of 1,91,000 equity shares under the JSL ESOS 2021 scheme during the quarter. Key details of the allotment include:

Financial Position and Capital Structure

The company's paid-up equity share capital stood at ₹238.69 crores as of December 31, 2025, compared to ₹180.23 crores in the corresponding period last year. The increase reflects the impact of equity allotments under the employee stock option scheme.

Basic earnings per share for Q3FY26 was ₹0.1429 compared to ₹0.1361 in Q3FY25, while diluted earnings per share reached ₹0.1426 versus ₹0.1317 in the previous year.

Board Approval and Regulatory Compliance

The Board of Directors approved these unaudited standalone and consolidated financial results at their meeting held on January 23, 2026. The statutory auditors, SARC & Associates, conducted a limited review of the financial results and issued an unmodified opinion. The company has made appropriate disclosures under SEBI regulations and maintained compliance with listing requirements on both BSE and NSE exchanges.

Jyoti Structures Limited , a player in the heavy electrical equipment sector, has reported a net profit of Rs 20.88 crore for the half-year ended September 30, 2025, marking a significant increase from Rs 12.16 crore in the previous year. The company's revenue from operations also saw a substantial rise, reaching Rs 308.76 crore compared to Rs 195.79 crore in the same period last year.

Financial Performance

The company's financial results, approved by the Board of Directors on November 12, 2025, highlight a robust performance in the first half of the fiscal year 2025-2026. The unaudited financial statements received an unmodified opinion from the statutory auditors, M/s SARC & Associates.

Employee Stock Options

In a move to align employee interests with company growth, Jyoti Structures' board approved two significant allotments under its Employee Stock Option Scheme (ESOS) 2021:

1. 8,000 equity shares at an exercise price of Rs 10.00 per share
2. 24,06,800 equity shares at an exercise price of Rs 8.00 per share

These allotments have increased the company's total issued shares to 1,19,34,68,937, with the issued share capital now standing at Rs 2,38,69,37,874.00.

Rights Issue Utilization

The company also provided an update on the utilization of proceeds from its rights issues:

The funds have been primarily used for settling NCLT-approved resolution plan dues and meeting operational requirements.

Market Performance

Despite the positive financial results, Jyoti Structures' share price has declined by approximately 40% over the last 12 months. As of November 10, 2025, the stock was trading at Rs 11.10 per share, below the Rights Issue II price of Rs 15.00 per share.

Corporate Governance

The company reported related party transactions for the first half of FY 2025-2026, including payments for director's sitting fees, salaries for key management personnel, and professional fees.

While Jyoti Structures shows signs of financial recovery and is taking steps to incentivize its workforce, the market's response remains cautious. Investors and stakeholders will likely keep a close watch on the company's ability to sustain this growth trajectory and improve its market valuation in the coming quarters.