P&I Gujarat Q3 FY26: Income Rises 43% to ₹48.89 Cr, Secures ₹124 Cr in New Orders
Power & Instrumentation (Gujarat) Limited reported Q3 FY26 income of ₹48.89 Cr (up 43.18% YoY) and net profit of ₹3.57 Cr (up 11.96% YoY). The company secured new orders totaling ₹124.17 Cr, including a ₹102.78 Cr order for the RDSS framework. The current order book stands at ₹450 Cr. PIGL targets 30-35% YoY growth for the next five years.
The strong financial performance, significant new order wins, and positive future outlook indicate a high impact on the company's prospects.
The company reported significant year-on-year growth in income and profit, secured substantial new orders, and has a positive outlook for future growth.
Power & Instrumentation (Gujarat) Limited announced its financial results for the quarter and nine months ended December 31, 2025. The company reported a total income of ₹48.89 crore for Q3 FY26, marking a year-on-year growth of 43.18%. EBITDA stood at ₹6.16 crore, an increase of 37.83% YoY, with an EBITDA margin of 12.6%. Net profit for the quarter was ₹3.57 crore, up 11.96% YoY, resulting in an EPS of ₹1.69.
For the nine months ended FY26, total income reached ₹161.35 crore, a growth of 39.23% YoY. EBITDA was ₹17.68 crore (up 24.86% YoY) with an EBITDA margin of 10.96%, and net profit stood at ₹10.91 crore (up 21.85% YoY), with an EPS of ₹5.55.
In the current quarter, the company secured new contracts aggregating ₹124.17 crore. This includes a ₹102.78 crore turnkey order from Ajmer Vidyut Vitran Nigam Limited for the RDSS framework in Rajasthan, to be executed within 15 months, and a ₹21.39 crore order from ATS Techno Limited for an industrial project in Ahmedabad.
A significant milestone was the CPRI approval for its subsidiary, Peaton Electrical Company Limited's 11 kV 3,000 ampere segregated phase busduct system, 'Phibar'. The company is also developing low-voltage busducts, with full-scale production expected by May 2026.
The company has an executable order book of approximately ₹450 crore, with about 60-65% from the RDSS and distribution segment, and 30-35% from infrastructure projects like industries and airports. The company is targeting a year-on-year growth of 30-35% over the next five years and aims for EBITDA margins between 12-14%, with a medium-term goal of 15% and PAT margins of 9-10%. The company plans to fund its expansion through internal accruals, with potential for project-specific debt financing if required, and has no plans for equity dilution in FY27.
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