Share News: Share price falls from Rs 327 to Rs 11, company gets relief from NCLT, will its fortunes change now?

News Topical, Digital Desk : The company's stock, which once set a record at ₹327.35, is trading at ₹11.47 today. The all-time high, set on January 30, 2008, is now history. The stock has fallen 36% in the past year, but has gained 30% in the past month. Now, the company has received significant relief from the NCLT, reviving investor hopes.

What's the big relief from the NCLT?
On the morning of February 18, 2026, the company informed the exchanges that the Mumbai Bench had ruled in favor of Jyoti Structures Ltd and certain shareholders in a contempt application filed against non-fund-based (NFB) lenders.

According to the order, the respondent must release the rolled-over NFB limit within one month. This period will be counted from the date of receipt of a copy of the order. The company provided this information under SEBI LODR Regulation 30.

The tribunal also noted that the company and lenders, i.e., the lending banks and institutions, have a long-term and collaborative relationship ahead, and therefore, conflict could harm their business interests. Based on this, a balanced solution was suggested.

Why is the NFB limit important?

NFB, or Non-Fund Based Limit, includes instruments such as bank guarantees and letters of credit. These are crucial for EPC companies, as they are required for large infrastructure projects.

If this limit is released, project execution could be accelerated, the ability to take new orders could increase, and pressure on cash flow could be reduced.

Company Profile:
Jyoti Structures Ltd is an EPC company focused on power transmission and distribution infrastructure.
Main Works - EHV Transmission Lines up to 765 kV
31,000+ Circuit Km Completed
1,800+ Base Substations
Rural Electrification in 37,000+ Villages
Railway Electrification Structures

Plants: Nashik and Raipur, total 1,10,000 MT capacity
Market: 50+ countries including India
Clients: NTPC, PGCIL

FY25 Performance:
Revenue ₹498 crore (+10%)
PAT ₹36 crore (+23%)
Order Book ₹1,900 crore+

Past crisis and comeback story
The company was included in RBI's first 12 NPA list in 2017. In 2019, a resolution plan of ₹3,965 crore was approved. The NCLT order was passed in August 2024 and confirmed by NCLAT in December 2024. In October 2025, the company again complained that some lenders were not following the resolution plan. Now, the company has got relief with the February 2026 order.

Share price fluctuations
All-time high: ₹327.35 (January 30, 2008)
Current price: ₹11.47
1-year decline: 36%
1-month rise: 30%
Public holding: Nearly 80%

What's next?
The market will now be watching to see how the company's financial health and order execution improve after the release of the NFB limit. Will the company, once at its peak valuation, be able to regain its credibility? Only time will tell.

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