Sugs Lloyd Limited (BSE SME: 544501), an EPC company working in power transmission and distribution, solar and smart-grid solutions, has received Letters of Intent (LOIs) worth a combined ₹214.27 crore, including GST, from TP Southern Odisha Distribution Limited (TPSODL) and TP Western Odisha Distribution Limited (TPWODL). The orders cover distribution network maintenance and related works across Odisha. The contracts will run for three years, from October 1, 2026, to September 30, 2029.
The latest order wins will strengthen Sugs Lloyd’s presence in the power distribution maintenance business and add a steady revenue stream to its EPC operations. Unlike EPC projects, where revenue is generally linked to project milestones, maintenance contracts provide regular income during the contract period. With the new orders, Sugs Lloyd expects its contracted annual revenue from network maintenance activities in Odisha to rise to around ₹60 crore, compared with approximately ₹12 crore at present.
Santosh Kumar Shah, Managing Director and Promoter, Sugs Lloyd Limited, said the contracts are important for the company as it works to increase the share of recurring revenue in its business. He said the three-year contracts would provide greater revenue visibility and continuity. The company also expects the relatively faster payment cycle associated with maintenance work to support working-capital management and cash flow.
Sugs Lloyd has been working with Tata Power distribution utilities in Odisha since 2021. The new contracts further strengthen this relationship and add to the company’s experience in managing power distribution networks in the state. The company said it sees scope to expand its network maintenance business into other states. It is looking at markets where distribution utilities are increasing investments in network strengthening, maintenance, reliability and reduction of technical and commercial losses.
The Odisha contracts will also help diversify Sugs Lloyd’s order book geographically. The company’s business has traditionally been concentrated in other states, and expanding its presence across more regions remains part of its growth plans. Founded in 2009, SUGS Lloyd has established itself as a trusted partner for infrastructure projects across India, particularly under government-led initiatives such as RDSS and IPDS. The company serves a range of leading clients including NTPC, Tata Power, Adani Renewables, Indian Railways and multiple state distribution companies.
In addition to its EPC capabilities, SUGS Lloyd holds a strong position in Fault Passage Indicator (FPI) technology, where it commands a significant share of the market. The company continues to expand its footprint across power transmission, distribution and solar energy segments.
