SUGS Lloyd shares gained 3.34% on Wednesday following the announcement of two major contracts worth ₹214.27 crore from Odisha power distribution companies. The stock was trading at ₹219.50 on BSE, up from the previous close of ₹212.40, with an intraday high of ₹225.00 and low of ₹206.60. The stock touched a new 52-week high with approximately 38,000 shares changing hands during the session. The company currently has a market capitalisation of approximately ₹522.32 crore, with promoters holding a 70.54% stake and institutional investors holding 1.62%.
Sugs Lloyd has received Letters of Intent (LOIs) aggregating ₹214.27 crore, including GST, from TP Southern Odisha Distribution (TPSODL) and TP Western Odisha Distribution (TPWODL) for distribution network maintenance and allied works in Odisha. The first contract from TPSODL is valued at ₹115.02 crore and covers 11 kV and low-tension network maintenance, along with 33 kV network maintenance and operational assistance for 33/11 kV substations. The second contract from TPWODL is worth ₹99.25 crore and includes similar scope of work. Both contracts will be executed over a three-year period from October 1, 2026 to September 30, 2029.
Following these orders, the company's contracted network-maintenance revenue in Odisha is expected to increase to approximately ₹60 crore annually, compared with around ₹12 crore currently. This represents a significant increase in the company's Odisha operations revenue potential, strengthening its presence in the power distribution and network maintenance segment. The contracts are expected to support the company's ongoing focus on electrical infrastructure, network maintenance and allied power-distribution services across southern and western Odisha. As per the company's management, these network maintenance contracts provide regular monthly revenue over the contract period, offering greater revenue visibility and continuity compared to milestone-driven EPC projects.
The contracts cover comprehensive distribution network maintenance and allied works across Odisha, positioning Sugs Lloyd for substantial revenue growth in the state's power distribution sector. The three-year execution timeline provides the company with a structured revenue pipeline for the next three fiscal years, strengthening its multi-year order opportunity across southern and western Odisha. The scope of work includes maintenance of 11 kV and low-tension networks, 33 kV network maintenance, and operational assistance for substations, supporting the company's focus on electrical infrastructure services. According to Mr. Santosh Kumar Shah, Managing Director & Promoter, these contracts demonstrate the company's execution capabilities in Odisha and provide a foundation for scaling the network-maintenance business across other states.
