Power & Instrumentation (Gujarat) Limited (PIGL), a key player in the electrical contracting and equipment sector, has announced strong financial results for the second quarter of fiscal year 2026. The company's impressive performance is underscored by substantial growth in both income and profitability, along with significant new order acquisitions and a strategic acquisition.
For the second quarter of FY26, PIGL reported a 27.20% year-on-year (YoY) increase in total income, reaching ₹70.91 crores. Net profit surged by 21.11% to ₹4.71 crores. The company's Earnings Before Interest, Taxes, Depreciation, and Amortization (EBITDA) also experienced a healthy rise of 19.80%, reaching ₹7.24 crores. Correspondingly, the profit before tax for the quarter stood at ₹6.33 crore, a 21.73% increase from ₹5.20 crore in the same quarter last year.
In addition to its strong financial performance, PIGL secured new orders worth ₹133.67 crores during the quarter. These include a significant ₹102.78 crore contract for rural electrification.
The company further solidified its position through a strategic acquisition, increasing its stake in Peaton Electrical Company Limited (PECL) by an additional 35.82%. This brings PIGL's total shareholding in PECL to 51.06%. This move aims to strengthen PIGL's backward integration in electrical infrastructure components.
The company's Managing Director, Padmaraj Padmnabhan Pillai, expressed optimism about the company's strategic direction, emphasizing its commitment to advancing India's power distribution modernization and renewable energy efforts. He stated that the Q2 and H1 FY26 performance reflects the company's focus on execution excellence, operational discipline, and sustained growth across key business segments. He also noted that the quarter delivered healthy improvements in both revenue and profitability, supported by strong order inflow and efficient project management.
Total expenses for the quarter rose to ₹64.56 crore, a 27.74% YoY increase. Purchase of stock in trade stood at ₹65.71 crore, up 20.53% YoY, while employee benefit expense was at ₹1.12 crore, up 17.84% YoY.
PIGL is listed on the NSE under the symbol PIGL and on the BSE under the code 543912.
