Electrical Equipment Company Reports Strong Q3 FY26 Results with 43.18% Revenue Growth
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The company has a market cap of over Rs 200 crore and the stock is up by 38.5 per cent from its 52-week low of Rs 98.40 per share.
Power & Instrumentation (Gujarat) Limited (PIGL) has delivered a stellar financial performance for the third quarter of FY26, characterised by significant double-digit growth in both top and bottom-line metrics. On a consolidated basis, the company reported total income of Rs 48.89 crore, representing a 43.18 per cent increase compared to the Rs 34.14 crore recorded in the same period last year. This momentum extended to operational profitability, with EBITDA rising by 37.83 per cent to reach Rs 6.16 crore. The net profit for the quarter also saw an upward trajectory, climbing to Rs 3.57 crore from Rs 3.19 crore in Q3 FY25.
The cumulative performance for the first nine months of the fiscal year (9M FY26) further underscores PIGL’s consistent execution capabilities. Nine-month revenues surged to Rs 161.35 crore, a substantial 39.23 per cent jump over the Rs 115.89 crore posted in the previous year's corresponding period. EBITDA for the 9M period reached Rs 17.68 crore, reflecting a healthy growth of 24.86 per cent, while net profit for the same duration rose by 21.85 per cent to a total of Rs 10.91 crore. These figures highlight the company's resilient business model and its ability to maintain operational efficiency while scaling its project portfolio across diverse infrastructure segments.
Beyond the financials, Q3 FY26 was marked by a series of strategic order wins that provide strong revenue visibility for the coming quarters. PIGL secured a major turnkey electrification project from Ajmer Vidyut Vitaran Nigam valued at Rs 102.78 crore under the Dharti Aaba Janajatiya Gram Utkarsh Abhiyan scheme, covering nine circles in Rajasthan. Additionally, the company bagged a Rs 21.39 crore contract from ATS Techno Limited for industrial infrastructure in Ahmedabad. Technical credentials also received a boost as subsidiary Peaton Electricals Company Limited earned CPRI approval for its 11 kV bus-duct systems, expanding the group’s high-voltage equipment offerings.
About the Company
Power & Instrumentation (Gujarat) Limited, founded in 1975, has emerged as a leading entity in the electrical contracting sector, specializing in Engineering, Procurement and Construction (EPC) solutions. The company provides a comprehensive range of services in electrical engineering, focusing on transmission and distribution while also offering post-installation maintenance. PIGL's expertise includes designing, supplying, installing and maintaining energy-efficient power systems across various industries.
The company has completed over 35 airport projects, electrified more than 100,000 BPL households and laid over 20,000 km of HT and LT lines. The company's diverse service portfolio encompasses the construction and maintenance of substations, backup power solutions and various advanced electrical systems. Known for meticulous project execution and timely delivery, PIGL serves a wide clientele in industrial, commercial and governmental sectors, underscoring its commitment to quality and versatility in the electrical contracting field. The company migrated to the main boards of the National Stock Exchange (NSE) and Bombay Stock Exchange (BSE) in May 2023.
For FY25, the company has reported standalone total income of Rs 171.28 crore, EBITDA of Rs 19.59 crore and net profit of Rs 11.75 crore. The company has a market cap of over Rs 200 crore and the stock is up by 38.5 per cent from its 52-week low of Rs 98.40 per share.
Disclaimer: The article is for informational purposes only and not investment advice.