Extending gains to the fourth consecutive session, shares of Power and Instrumentation (Gujarat) rose by 3 per cent on Monday, November 17, following the company’s strong Q2 performance and order book. After opening at ₹165.50, the stock ended 3.04 per cent higher at ₹162.45 on the BSE on Monday, buoyed by a strong September quarter scorecard.
In four sessions, the stock has gained 11 per cent. PIGL share price hit a 52-week low of ₹106.70 on July 7 this year after hitting a 52-week high of ₹416.40 on January 10.
PIGL Q2 results
Power and Instrumentation (Gujarat) (PIGL), on November 14, reported a strong financial and operational performance for the second quarter and first half of FY26. The company posted steady year-on-year growth across revenue, profitability, and order inflows.
For Q2FY26, PIGL reported a total income of ₹70.91 crore, up 27.2 per cent year-on-year (YoY). EBITDA rose to ₹7.24 crore, showing a 19.8 per cent jump YoY. Net Profit came in at ₹4.71 crore, marking a 21.11 per cent increase.
For the first half of FY26, total income stood at ₹112.46 crore, up 37.57 per cent. EBITDA in H1FY26 reached ₹11.52 crore, up almost 19 per cent, while net profit for the period rose 27.29 per cent to ₹7.33 crore.
PIGL said its order book stands strong at more than ₹520 crore in ongoing works (average 12-15 months completion) as of November 14, 2025, with ₹200+ crore in bided tenders.
Recent wins total ₹133.67 crore, including rural electrification under RDSS ( ₹102.78 crore) and solar projects ( ₹9.50 Cr). Acquisition of 51.06 per cent in Peaton Electrical (PECL) adds ₹31.80 crore order book, enhancing backward integration and synergies for future growth in power and renewables.
“Strong order inflows and efficient project management supported overall performance, while new government-led rural electrification orders further strengthened the company’s presence in national infrastructure initiatives,” said Padmaraj Padmnabhan Pillai, Managing Director of PIGL.
PIGL business update
The company said its ₹102.78 crore electrification project from Ajmer Vidyut Vitran Nigam Limited under the DA-JGUA scheme, covering nine circles in Rajasthan, will be completed within 15 months. Moreover, a ₹9.50 crore solar EPC order in Gujarat for a 5 MWp ground-mounted solar project is expected to be executed over six months.
PIGL has been awarded a project worth ₹2.59 crore for the design, supply, installation, testing, and commissioning of ELV raceways and cable tray systems at the Udaipur Air Terminal in Rajasthan.
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