Power & Instrumentation (Gujarat) Ltd.

•

grouppower.orgBSE: 543912NSE: PIGL

Market Cap₹ 215 Cr.

Current Price

High / Low₹ 190 / 88

Stock P/E14.8

Book Value₹ 74

Price to Book2.86

Dividend Yield0.00 %

ROCE19.9 %

ROE15.4 %

Face Value₹ 10

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AI Sector View

AI GENERATED

Construction

Buy

Construction fundamentals are strong, led by government and infrastructure spending. Capital expenditure was up 66% YoY (2026-06), cement output grew 13.1% YoY (2026-07), and the sector also benefits from improving housing and GFCF conditions. FPI flows turned supportive with INR 1720 crore net inflow over 3 months to 2026-08-31 from INR -9439 crore in the prior 3 months, reinforcing the positive view.

Confidence

80%

View full sector analysis →

PROS

Attractively priced for its growth - PEG of 0.2
Company maintains a comfortable, low leverage position

CONS

Operating cash flow has been negative in recent years
Receivables are growing faster than sales - a possible quality concern
Poor cash conversion - profits are not backed by operating cash flow (CFO/PAT -1.44x)
Equity base is being diluted - shares outstanding up 103.7%
Working capital days have increased from 126 to 174 days

* The pros and cons are machine generated based on quantitative rules.

Peer comparison

ConstructionInfrastructureEngineering - Construction

Part ofNIFTY 50 NIFTY 500 NIFTY LARGEMIDCAP 250 NIFTY 100 NIFTY 200

S.No.	Name
1.	LT	3915.00	32.47	538651.57	0.97	4988.03	15.51	67941.74	6.69	15.98	12.00
2.	RVNL	205.00	47.52	42742.91	0.35	159.52	18.73	4321.23	10.55	10.81	4.41
3.	KPIL	1435.05	21.56	24506.71	0.77	311.53	45.85	6407.97	3.84	18.95	8.77
4.	IRB	19.64	24.86	23721.19	1.32	3062.70	1412.58	21372.72	918.25	7.72	53.93
5.	CEMPRO	1244.10	35.53	21372.09	0.24	140.83	2.64	2720.92	7.02	33.53	10.09
6.	ENGINERSIN	269.20	19.30	15130.18	1.86	157.94	141.49	819.84	-5.80	30.94	20.61
7.	TECHNOE	972.50	26.24	11310.13	0.72	93.33	-31.44	630.34	19.84	14.86	15.79
8.	WELENT	782.75	35.45	10834.34	0.38	56.36	-44.29	773.72	-8.44	16.44	19.49
9.	KEC	406.45	19.54	10819.70	1.35	72.62	-41.72	5023.54	0.01	16.35	5.79
10.	IRCON	113.20	20.33	10646.64	1.68	92.03	-43.92	1955.83	9.49	10.15	9.81
11.	AFCONS	253.95	64.55	9339.89	0.79	303.00	120.52	26710.00	692.49	12.88	9.42
12.	PIGL	101.80	14.81	215.50	0.00	3.04	16.35	48.89	18.39	19.91	10.26

Detailed Comparison with:

Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	22	24	15	37	25	55	33	55	41	70	49	59	49
	19	22	13	33	22	50	30	50	37	64	43	52	45
Operating Profit	3	3	2	4	3	5	4	5	4	7	6	6	3
OPM %	11.69%	11.10%	12.03%	10.54%	12.25%	9.52%	11.06%	9.33%	9.76%	9.39%	12.19%	10.95%	7.06%
	0	0	0	1	1	1	1	0	0	1	0	0	0
Interest	1	1	1	1	1	1	1	1	1	1	1	2	1
Depreciation	0	0	0	0	0	0	0	0	0	0	0	0	0
Profit before Tax	1	2	1	3	2	5	4	4	4	6	5	5	4
Tax %	25.37%	24.46%	29.31%	21.24%	25.20%	25.19%	25.19%	29.48%	26.00%	25.24%	21.19%	19.71%	21.68%
Net Profit	0	0	0	0	2	4	3	3	3	5	4	4	3
	2.01	1.09	0.65	2.15	3.70	2.69	1.94	1.49	1.50	2.66	1.82	2.10	1.44

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2022	Mar 2023	Mar 2024	Mar 2025	TTM
	91	93	97	169	226
	84	86	87	152	204
Operating Profit	7	8	11	17	22
OPM %	7.48%	8.11%	11.25%	10.16%	9.89%
	0	1	1	2	2
Interest	3	3	4	3	5
Depreciation	0	0	0	0	1
Profit before Tax	4	5	8	16	20
Tax %	30.77%	26.63%	23.80%	26.33%	22.23%
Net Profit	3	4	6	12	15
EPS	3.30	3.00	4.67	6.73	—
Dividend Payout %	0.00%	6.95%	4.28%	2.97%	—

COMPOUNDED SALES GROWTH

10 Years:: —
5 Years:: —
3 Years:: 23%

COMPOUNDED PROFIT GROWTH

10 Years:: —
5 Years:: —
3 Years:: 59%

STOCK PRICE CAGR

10 Years:: —
5 Years:: 12%
3 Years:: 39%
1 Year:: -33%

RETURN ON EQUITY

10 Years:: —
5 Years:: —
3 Years:: 12%
Last Year:: 15%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Equity Capital	9	13	13	17
	26	32	38	85
	27	27	14	16
Trade Payables	28	23	33	30
	7	12	10	24
Total Liabilities	97	107	107	173
	1	1	1	1
Capital Work in Progress	0	1	1	1
	17	35	41	48
	0	0	31	60
	78	70	34	63
Total Assets	97	107	107	173

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2022	Mar 2023	Mar 2024	Mar 2025
	-3	1	8	-40
Cash from Investing	1	-4	-0	-12
Cash from Financing	2	4	-8	52
	-0	0	0	-0

Ratios

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2022	Mar 2023	Mar 2024	Mar 2025

Shareholding Pattern

Numbers in percentages

	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	52.09	40.95	40.95	45.71	45.71	46.09	46.28	50.69	50.69
	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.01	0.00
	0.00	0.00	0.00	0.00	0.08	0.00	0.00	0.75	0.82
Government	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
	47.91	59.05	59.05	54.29	54.21	53.91	53.71	48.54	48.49

Documents

Corporate disclosures, annual reports, credit ratings, and concall transcripts

2026-09-11

General Updates

2026-09-11 - Power & Instrumentation (Gujarat) Limited has informed the Exchange about General Updates

2026-09-04

Copy of Newspaper Publication

2026-09-04 - Power & Instrumentation (Gujarat) Limited has informed the Exchange about Copy of Newspaper Publication

2026-09-02

General Updates

2026-09-02 - Power & Instrumentation (Gujarat) Limited has informed the Exchange about General Updates

2026-09-02

Shareholders meeting

2026-09-02 - Power & Instrumentation (Gujarat) Limited has informed the Exchange regarding Notice of Annual General Meeting to be held on September 25, 2026

2026-09-02

Copy of Newspaper Publication

2026-09-02 - Power & Instrumentation (Gujarat) Limited has informed the Exchange about Copy of Newspaper Publication

2026-08-25

Outcome of Board Meeting

2026-08-25 - Outcome of Board Meeting held on 25 august 2026

2026-08-16

Copy of Newspaper Publication

2026-08-16 - Power & Instrumentation (Gujarat) Limited has informed the Exchange about Copy of Newspaper Publication

2026-08-14

Outcome of Board Meeting

2026-08-14 - Power & Instrumentation (Gujarat) Limited has submitted to the Exchange, the financial results for the period ended Jun 30, 2026.

2026-07-15

Certificate under SEBI (Depositories and Participants) Regulations, 2018

2026-07-15 - Power & Instrumentation (Gujarat) Limited has informed the Exchange about Certificate under SEBI (Depositories and Participants) Regulations, 2018

News

Recent coverage and analyst commentary for PIGL

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Power & Instrumentation (Gujarat) Ltd.

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Free 5nance Account

Name

3915.00

32.47

538651.57

0.97

4988.03

15.51

67941.74

6.69

15.98

12.00

RVNL

205.00

47.52

42742.91

0.35

159.52

18.73

4321.23

10.55

10.81

4.41

KPIL

1435.05

21.56

24506.71

0.77

311.53

45.85

6407.97

3.84

18.95

8.77

IRB

19.64

24.86

23721.19

1.32

3062.70

1412.58

21372.72

918.25

7.72

53.93

CEMPRO

1244.10

35.53

21372.09

0.24

140.83

2.64

2720.92

7.02

33.53

10.09

ENGINERSIN

269.20

19.30

15130.18

1.86

157.94

141.49

819.84

-5.80

30.94

20.61

TECHNOE

972.50

26.24

11310.13

0.72

93.33

-31.44

630.34

19.84

14.86

15.79

WELENT

782.75

35.45

10834.34

0.38

56.36

-44.29

773.72

-8.44

16.44

19.49

KEC

406.45

19.54

10819.70

1.35

72.62

-41.72

5023.54

0.01

16.35

5.79

IRCON

113.20

20.33

10646.64

1.68

92.03

-43.92

1955.83

9.49

10.15

9.81

AFCONS

253.95

64.55

9339.89

0.79

303.00

120.52

26710.00

692.49

12.88

9.42

PIGL

101.80

14.81

215.50

0.00

3.04

16.35

48.89

18.39

19.91

10.26

Jun 2023

Sep 2023

Dec 2023

Mar 2024

Jun 2024

Sep 2024

Dec 2024

Mar 2025

Jun 2025

Sep 2025

Dec 2025

Mar 2026

Jun 2026

Operating Profit

OPM %

11.69%

11.10%

12.03%

10.54%

12.25%

9.52%

11.06%

9.33%

9.76%

9.39%

12.19%

10.95%

7.06%

Interest

Depreciation

Profit before Tax

Tax %

25.37%

24.46%

29.31%

21.24%

25.20%

25.19%

29.48%

26.00%

25.24%

21.19%

19.71%

21.68%

Net Profit

2.01

1.09

0.65

2.15

3.70

2.69

1.94

1.49

1.50

2.66

1.82

2.10

1.44

Mar 2022

Mar 2023

Mar 2024

Mar 2025

TTM

169

226

152

204

Operating Profit

OPM %

7.48%

8.11%

11.25%

10.16%

9.89%

Interest

Depreciation

Profit before Tax

Tax %

30.77%

26.63%

23.80%

26.33%

22.23%

Net Profit

EPS

3.30

3.00

4.67

6.73

—

Dividend Payout %

0.00%

6.95%

4.28%

2.97%

—

Mar 2022

Mar 2023

Mar 2024

Mar 2025

Equity Capital

Trade Payables

Total Liabilities

107

173

Capital Work in Progress

Total Assets

107

173

Mar 2022

Mar 2023

Mar 2024

Mar 2025

-3

-40

Cash from Investing

-4

-0

-12

Cash from Financing

-8

-0

Mar 2022

Mar 2023

Mar 2024

Mar 2025

Jun 2024

Sep 2024

Dec 2024

Mar 2025

Jun 2025

Sep 2025

Dec 2025

Mar 2026

Jun 2026

52.09

40.95

45.71

46.09

46.28

50.69

0.00

0.01

0.00

0.08

0.00

0.75

0.82

Government

0.00

47.91

59.05

54.29

54.21

53.91

53.71

48.54

48.49

Power & Instrumentation (Gujarat) Ltd.

AI Sector View

Peer comparison

Quarterly Results

Profit & Loss

Balance Sheet

Corporate actions

Cash Flows

Ratios

Shareholding Pattern

Documents

News

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Power & Instrumentation (Gujarat) Ltd.

AI Sector View

Peer comparison

Quarterly Results

Profit & Loss

Balance Sheet

Corporate actions

Cash Flows

Ratios

Shareholding Pattern

Documents

News

Sign in to Chat with AI