Jyoti Limited, a prominent name in the electrical and power equipment manufacturing sector, has secured a significant order worth ₹6.45 crore (excluding GST) from Indian Oil Corporation Limited (IOCL). This contract, dated 27th June 2025, has been awarded to the company's Switchgear Division and is for the supply of High Voltage (HV) Switchboards for the DR 1.0 Expansion Project at IOCL's Digboi Refinery in Assam.

As per the disclosure made to BSE Limited under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements), 2015, Jyoti Ltd announced that the contract is to be completed by 23 January 2026, ensuring timely contribution to IOCL's ongoing refinery capacity augmentation.

This development was announced in accordance with the SEBI Circular SEBI/HO/CFD/PoD2/CIR/P/0155 dated 11th November 2024 and reflects the company’s ongoing efforts to expand its presence in India's strategic energy infrastructure segment. The order size of ₹6,45,14,902 confirms the company’s ability to attract and execute large-scale industrial contracts from leading public sector enterprises like IOCL.

Key Details of the Order

The order has been awarded by M/s. Indian Oil Corporation Limited, New Delhi, a domestic entity, affirming Jyoti Ltd’s status as a trusted partner in India’s critical infrastructure supply chain. The contract entails:

• Scope: Supply of HV switchboards for the DR 1.0 Expansion Project at Digboi Refinery.

• Total Order Value: ₹6,45,14,902 (excluding GST)

• Delivery Timeline: On or before 23rd January 2026

• Type of Contract: Pure supply contract, not involving services or civil execution.

• Nature of Order: Domestic, awarded after standard procurement procedures.

• Guarantee Terms: 12 months from commissioning or 18 months from supply, whichever is earlier.

Other commercial terms specified in the Purchase Order include:

• Payment Terms: As per Purchase Order (standard procurement payment cycle)

• Packing and Forwarding: Inclusive in the price

• Freight: Inclusive

• Insurance: Provided by IOCL

• GST: Extra, as applicable

This project is part of IOCL’s strategic effort to modernize and expand its Digboi Refinery, one of Asia’s oldest operational refineries. The DR 1.0 expansion project is vital to increasing the refinery’s output capacity and improving its energy efficiency.

No Promoter or Related Party Involvement

Jyoti Ltd, in its disclosure, has clearly confirmed that neither the promoter group nor any group companies have any interest in the awarding entity, i.e., IOCL. Furthermore, the contract does not fall under the definition of related party transactions as per SEBI norms. This ensures that the transaction is entirely conducted on arm’s length terms, ensuring compliance with corporate governance standards.

Strategic Impact for Jyoti Ltd

Securing this order represents a significant step forward for Jyoti Ltd, especially its Switchgear Division, which plays a pivotal role in India's industrial and energy infrastructure sectors. The company's ability to win high-value contracts from PSU giants like IOCL reaffirms its reputation for technical excellence, reliability, and timely delivery.

The inclusion of high-voltage switchboards indicates that the company’s product quality and technical specs align with the demanding standards of oil refining operations, where safety, durability, and operational stability are paramount.

This win also marks an upward trend in infrastructure order inflows for the company and suggests that Jyoti Ltd is on track to strengthen its order book, especially in the high-margin, specialized equipment segment.

Relevance to India's Energy Infrastructure Push

India’s oil refining capacity expansion is a key element of its energy security and self-reliance agenda, and public sector undertakings like IOCL are at the forefront of these initiatives. With the government also placing emphasis on Make in India and domestic sourcing, companies like Jyoti Ltd stand to benefit from increased procurement opportunities.

Being selected for the IOCL Digboi Refinery expansion project gives Jyoti Ltd a significant platform to showcase its engineering capabilities, which could pave the way for repeat orders or participation in future PSU and refinery expansion projects.

This is especially important as the power equipment and switchgear segment faces stiff competition from domestic and global players. Hence, strategic wins like this help Jyoti Ltd solidify its market position and demonstrate its competitive pricing and execution capabilities.

Outlook and Conclusion

In summary, the ₹6.45 crore contract from IOCL to Jyoti Ltd is a milestone order that not only strengthens the company’s financial outlook but also reinforces its role as a trusted supplier to India's oil refining industry. The project’s completion timeline, clear guarantee clauses, and transparent disclosure indicate a well-structured and high-impact commercial engagement.

As part of its broader growth journey, Jyoti Ltd continues to focus on power, water, and industrial engineering solutions. This order further consolidates its market position in the supply of critical switchgear infrastructure and boosts confidence in its execution capabilities for future orders.

This development will be closely watched by stakeholders including investors, analysts, and market observers, as it reflects growing demand in India’s industrial and refinery modernization sectors, where efficient, high-voltage switchgear systems are indispensable.

Jyoti Ltd’s timely disclosure under SEBI regulations, absence of any related party concerns, and alignment with India’s infrastructure priorities make this a significant and credible achievement for the company in 2025.

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