Renowned investor Ashish Kacholia has pared down his holding in small-cap infrastructure player Jyoti Structures during the quarter ended June 30, 2025 (Q1FY26). Known for identifying high-growth mid- and small-cap stocks early, Kacholia’s moves are closely tracked by market participants. His reduced exposure to Jyoti Structures comes amid mixed financial performance and volatility in the company’s stock over the past year.
Stake Cut in Q1FY26
As per Jyoti Structures’ latest shareholding pattern filed with the exchanges, Ashish Kacholia held 1.69 crore equity shares, or a 1.43 percent stake in the company at the end of Q1FY26. This is a decline from the 2.42 crore shares, or 2.04 percent stake, that he held in the previous quarter ending March 2025 (Q4FY25). Based on current market prices, the value of his trimmed stake stands at approximately ₹33.4 crore.
Kacholia had first entered the company’s shareholder list in the September 2024 quarter, when his name appeared under shareholders holding 1 percent or more, as mandated by SEBI. The reduction in stake suggests a more cautious stance toward the company, even though it has been part of a multibagger rally in earlier periods.
Jyoti Structures Limited, established in 1974 and headquartered in Mumbai, is engaged in the engineering, procurement, and construction (EPC) of transmission lines, substations, and rural electrification projects across India and overseas. Its expertise includes turnkey infrastructure solutions for the power sector, encompassing everything from design and fabrication to testing and commissioning of high-voltage lines and substations. The company also undertakes solar power projects and is active in the renewable energy space.
Financial Performance Mixed
In the quarter ended March 2025 (Q4FY25), Jyoti Structures reported a net profit of ₹11.93 crore, a decline of 15.5 percent compared to ₹14.12 crore in the year-ago quarter. However, the company’s sales rose 27.7 percent year-on-year to ₹164.69 crore from ₹128.96 crore, showing operational growth despite pressure on profitability.
On an annual basis, the company posted a net profit of ₹35.57 crore for FY25, up 23.3 percent from ₹28.84 crore in FY24. Full-year revenues grew 10.3 percent to ₹497.83 crore in FY25 from ₹451.52 crore in the previous year, indicating a steady uptick in its order book and execution capabilities.
Stock Price Trend
Despite periods of strong financial performance, the stock has come under pressure in recent months. Jyoti Structures’ shares are down over 24 percent in the past one year and have declined 20 percent in 2025 year-to-date. The stock touched a 52-week high of ₹37.06 in November 2024, while it bottomed out at ₹13.21 in April 2025.
Notably, the stock has seen gains in four of the seven months so far in 2025, but overall sentiment remains cautious amid volatile performance and broader market correction in small-cap names.
In the last 5 yeats, the scrip has given multibagger returns surging 810 percent.
Disclaimer: This article is for informational purposes only and does not constitute investment advice. Investors are advised to do their own due diligence or consult financial advisors before taking any investment decision.
