Synopsis: Shares of ITI Limited rose nearly 15 percent in today’s trade after the company invited bids related to expanding its solar manufacturing operations. The development comes as the company looks for partners to set up a large automatic solar photovoltaic (SPV) module manufacturing facility at its Naini unit in Prayagraj.
The shares of this mid cap company majorly engaged in manufacturing, trading and servicing of telecommunication equipment, and rendering other associated and ancillary services jumped upto 15 percent after inviting companies to bid.
With the market capitalization of Rs. 26242 Crores, the shares of ITI limited reached an intraday high of Rs. 279 per share, raising nearly 15 percent from its previous day closing of 242.3 per share and is trading at 25 percent discount from its 52 weeks high of Rs. 373 per share
Reason behind the jump
ITI Limited has issued a Request for Proposal (RfP) to select a suitable business partner to establish a new 500 MW capacity automatic Solar Photovoltaic (SPV) module manufacturing facility at its Naini plant in Prayagraj under a Public-Private Partnership (PPP) or developer/operator model.
In parallel to the above process, the company also floated a tender on March 14, 2026, to establish a new 500 MW capacity, or 250 MW capacity, or 100 MW capacity automatic Solar Photovoltaic module manufacturing facility on a turnkey basis at its Naini plant in Prayagraj. This project also includes the buy-back of the existing 18 MW capacity solar manufacturing facility established by Ecoprogetti. The company is diversifying its business to SPV module & solar module manufacturing as well, and rose sharply after inviting companies to bid for the above-mentioned project.
About the Company and Financials
ITI Limited is engaged in manufacturing, trading and servicing of telecommunication equipment, and rendering other associated and ancillary services having over 12 marketing, services & projects centers across the country. The company has 6 manufacturing units across UP, Kerala, Karnataka and J & K with its R & D centre located at Banglore.
The company has wide range of products including manufactured products such as Gigabit Passive Optical Network (GPON), Managed Leased Line Network (MLLN) products, Stand Alone Signaling Transfer Point(SSTP), Wi-Fi Access Point, Radio Modem, SMPS, Set Top Box and many other Defence products.
Year on Year analysis: Revenue from operations has decreased from Rs. 1035 Crores to Rs. 515 crores, down 50 percent. Operating loss has turned into profit of Rs. 25 Crores from operating loss of Rs. 11 Crores and net loss has narrowed from Rs. 49 Crores of net loss to Rs. 26 Crores of net loss.
Quarter on Quarter analysis: Revenue from operations has decreased from Rs. 543 Crores to Rs. 515 crores, down 5.15 percent. Operating loss has turned into profit of Rs. 25 Crores from operating loss of Rs. 1 Crore and net loss has narrowed from Rs. 54 Crores of net loss to Rs. 26 Crores of net loss.
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