PIGL reports strong Q2 & H1 FY26 results, secures ₹133.67 Cr in new orders, and completes strategic acquisition
PIGL reported robust Q2 & H1 FY26 financial growth, with increased revenue and net profit. The company secured ₹133.67 crore in new contracts and completed a strategic acquisition of Peaton Electrical Company Limited.
The strong financial performance, substantial order wins, and strategic acquisition are significant developments that will positively affect the company's future growth and market position.
The company reported healthy revenue and profitability growth in Q2 and H1 FY26, secured substantial new contracts totaling ₹133.67 crore, and completed a strategic acquisition enhancing backward integration and market presence.
* Financial Performance (Consolidated Q2 FY26): Power & Instrumentation (Gujarat) Limited (PIGL) reported a total income of ₹70.91 crore, a net profit of ₹4.71 crore, and an EBITDA of ₹7.24 crore for the quarter ended September 30, 2025. The Earnings Per Share (EPS) for Q2 FY26 was ₹2.66. * Financial Performance (Consolidated H1 FY26): For the half year ended September 30, 2025, the company achieved a total income of ₹112.46 crore, a net profit of ₹7.33 crore, and an EBITDA of ₹11.52 crore. The EPS for H1 FY26 was ₹4.16. * Management Commentary: Mr. Padmaraj Padmnabhan Pillai, Managing Director, stated that the company delivered a strong performance in Q2 FY26, reflecting execution excellence, operational discipline, and sustained growth. He highlighted healthy improvements in revenue and profitability, supported by robust order inflow and efficient project management. The company secured significant orders under government-led rural electrification schemes and progressed its strategic investment in Peaton Electrical Company Limited. * New Contracts Secured (till November 11, 2025): PIGL secured three significant contracts totaling ₹133.67 crore: * ₹102.78 crore from Ajmer Vidyut Vitran Nigam Limited for distribution infrastructure under the RDSS Scheme in Rajasthan, with a 15-month timeline. * ₹9.50 crore from Sadashiv Projects India Private Limited for a 5.00 MWP ground-mounted solar project in Gujarat, to be completed in 6 months. * ₹21.39 crore from ATS Techno Limited for the design, supply, installation, and commissioning of a factory shed in Ahmedabad, with a 12-month execution timeline. * Strategic Acquisition: PIGL acquired an additional 35.82% stake in Peaton Electrical Company Limited (PECL), increasing its total holding to 51.06% and making PECL a subsidiary. This acquisition strengthens backward integration, enhances control over electrical infrastructure components, and aims to create synergies in manufacturing and technology collaboration. PECL is an established electrical equipment manufacturer with a four-decade track record. * Outlook: The company remains confident in leveraging India’s focus on power distribution modernization and renewable energy expansion, positioning itself for sustained growth and long-term value delivery.
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Power & Instrumentation (Gujarat) Limited filed this with the NSE as a statutory disclosure, categorised under investor presentation. It is a primary document, not a recommendation, and the desk marks it high impact, which is the band that most often changes something.
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