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Power & Instrumentation (Gujarat) Ltd.
(PIGL)
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Rating:62Neutral
Price Target:
₹111.00
▲(5.42% Upside)
Action:Reiterated
Date:09/10/26
The score is primarily held back by weak cash conversion (negative operating cash flow in most years and negative free cash flow in FY2025–FY2026) despite solid profitability and strong FY2026 revenue acceleration. A materially de-risked balance sheet (very low leverage) and reasonable valuation (P/E ~13) support the score, while technical signals remain mixed-to-soft with price below key longer-term moving averages and a negative MACD.
Positive Factors
Accelerating revenue with stable margins
Strong FY2026 revenue acceleration alongside stable operating and net margins indicates that growth has not yet required a major profitability sacrifice. If maintained, this combination can support reinvestment, strengthen the company’s competitive position, and improve earnings capacity over the next several quarters.
Negative Factors
Weak and volatile cash conversion
Recurring negative operating cash flow despite reported profits points to significant working-capital absorption from receivables, inventory, or project timing. Persistently negative free cash flow reduces financial flexibility and can force tighter funding discipline even with currently low leverage.
Read all positive and negative factors
Positive Factors
Negative Factors
Accelerating revenue with stable margins
Strong FY2026 revenue acceleration alongside stable operating and net margins indicates that growth has not yet required a major profitability sacrifice. If maintained, this combination can support reinvestment, strengthen the company’s competitive position, and improve earnings capacity over the next several quarters.
Read all positive factors
Power & Instrumentation (Gujarat) Ltd. (PIGL) vs. iShares MSCI India ETF (INDA)
Market Cap
₹2.20B
Dividend Yield0.19%
Average Volume (3M)65.27K
Price to Earnings (P/E)13.0
Beta (1Y)0.47
Revenue Growth29.56%
EPS Growth-0.64%
CountryIN
Employees61
SectorGeneral
Sector StrengthN/A
IndustryEngineering & Construction
Share Statistics
EPS (TTM)8.10
Shares Outstanding20,978,900
10 Day Avg. Volume35,850
30 Day Avg. Volume65,272
Financial Highlights & Ratios
PEG Ratio-0.66
Price to Book (P/B)2.03
Price to Sales (P/S)1.41
P/FCF Ratio-30.45
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)N/A
Revenue Forecast (FY)N/A
Power & Instrumentation (Gujarat) Ltd. Business Overview & Revenue Model
Company Description
Power & Instrumentation (Gujarat) Ltd. engages in the provision of EPC solutions for electrical requirement and manufactured electronic boards, electrical panels and control panels. Its services involves power and distribution transformers, high t...
Power & Instrumentation (Gujarat) Ltd. Financial Statement Overview
Summary
Income Statement
72
Positive
Balance Sheet
83
Very Positive
Cash Flow
28
Negative
| Breakdown | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 2.19B | 1.69B | 974.90M | 930.90M | 912.80M |
| Gross Profit | 285.38M | 236.47M | 188.40M | 145.80M | 136.40M |
| EBITDA | 229.73M | 195.87M | 109.10M | 86.10M | 73.50M |
| Net Income | 142.79M | 117.64M | 59.00M | 36.38M | 29.00M |
Balance Sheet | |||||
| Total Assets | 2.34B | 1.73B | 1.07B | 1.07B | 977.90M |
| Cash, Cash Equivalents and Short-Term Investments | 37.91M | 41.91M | 3.60M | 2.70M | 700.00K |
| Total Debt | 135.26M | 183.68M | 146.80M | 318.80M | 286.70M |
| Total Liabilities | 669.25M | 629.18M | 562.40M | 613.98M | 601.30M |
| Stockholders Equity | 1.53B | 1.11B | 512.26M | 453.30M | 364.50M |
Cash Flow | |||||
| Free Cash Flow | -101.58M | -395.72M | 83.60M | 9.91M | -48.30M |
| Operating Cash Flow | -90.58M | -392.59M | 84.80M | 12.56M | -44.70M |
| Investing Cash Flow | -136.71M | -124.70M | -1.60M | -43.70M | -4.50M |
| Financing Cash Flow | 258.41M | 517.16M | -82.00M | 36.62M | 20.80M |
Power & Instrumentation (Gujarat) Ltd. Technical Analysis
Positive
105.29
Price Trends
106.82
Negative
107.63
Negative
112.92
Negative
Market Momentum
-1.69
Negative
51.80
Neutral
44.38
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:PIGL, the sentiment is Positive. The current price of 105.29 is above the 20-day moving average (MA) of 102.07, below the 50-day MA of 106.82, and below the 200-day MA of 112.92, indicating a neutral trend. The MACD of -1.69 indicates Negative momentum. The RSI at 51.80 is Neutral, neither overbought nor oversold. The STOCH value of 44.38 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for IN:PIGL.
Power & Instrumentation (Gujarat) Ltd. Peers Comparison
UnderperformOutperform
Sector (55)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
70 Neutral | ₹76.84B | 19.23 | ― | 0.06% | 15.79% | 22.69% | |
64 Neutral | ₹114.35B | 26.39 | ― | 0.72% | 38.72% | -6.77% | |
62 Neutral | ₹2.20B | 13.00 | ― | 0.19% | 29.56% | -0.64% | |
61 Neutral | ₹44.24B | 16.20 | ― | 1.07% | 18.73% | ― | |
55 Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% | |
49 Neutral | ₹104.58B | 19.88 | ― | 1.33% | 5.14% | -9.35% | |
42 Neutral | ₹18.11B | -1.41 | ― | 1.78% | -38.23% | -10.95% |
* General Sector Average
IN:PIGL
Power & Instrumentation (Gujarat) Ltd.
104.11
-47.71
-31.43%
IN:BGRENERGY
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244.60
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7.73%
IN:GVPIL
GE Power India Ltd.
655.35
302.71
85.84%
IN:KEC
KEC International Ltd.
413.35
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-51.24%
IN:POWERMECH
Power Mech Projects Ltd.
2,379.50
-689.56
-22.47%
IN:TECHNOE
Techno Electric & Engineering Company Limited
979.75
-474.75
-32.64%
Power & Instrumentation (Gujarat) Ltd. Corporate Events
Power & Instrumentation (Gujarat) Schedules 42nd AGM via Video Conferencing
Sep 3, 2026
Power Instrumentation (Gujarat) Ltd. has announced that its 42nd Annual General Meeting will be held on September 25, 2026, at 2:30 p.m. IST via video conferencing and other audio-visual means, in line with evolving corporate governance and digit...
Power & Instrumentation (Gujarat) Sets 42nd AGM, Details Remote E-Voting Window
Sep 2, 2026
Power Instrumentation (Gujarat) Ltd. has scheduled its 42nd Annual General Meeting for September 25, 2026, at 2:30 p.m., to be conducted via video conferencing or other audio-visual means in line with guidelines from the Ministry of Corporate Aff...
Power & Instrumentation (Gujarat) Sets Virtual 42nd AGM, Publishes Statutory Notice
Sep 1, 2026
Power Instrumentation (Gujarat) Ltd. has announced that its 42nd Annual General Meeting will be held on Friday, 25 September 2026, at 2:30 p.m. IST through video conferencing and other audio-visual means. The company has published the statutory A...
Power & Instrumentation (Gujarat) Clears ESOP 2026 and Sets Schedule for 42nd AGM
Aug 25, 2026
Power Instrumentation (Gujarat) Ltd. has approved an Employee Stock Option Plan 2026 for eligible employees and directors, excluding promoters and large shareholders, with grants to be administered by the Nomination and Remuneration Committee in ...
Power & Instrumentation (Gujarat) Publishes Q1 FY27 Unaudited Results
Aug 16, 2026
Power Instrumentation (Gujarat) Ltd. has published its unaudited standalone and consolidated financial results for the quarter ended June 30, 2026 in the Financial Express in both Gujarati and English. The disclosure, made pursuant to SEBI’...
Power & Instrumentation (Gujarat) Closes Trading Window Ahead of Q1 FY27 Results
Jun 25, 2026
Power Instrumentation (Gujarat) Ltd. has announced that its trading window for dealing in company securities will be closed from July 1, 2026 until 48 hours after the announcement of unaudited financial results for the quarter ended June 30, 2026...
Power & Instrumentation (Gujarat) bags additional Rs 3.72 crore RDSS order from AVVNL
Jun 23, 2026
Power Instrumentation (Gujarat) Ltd. has received an additional work order worth Rs. 3.72 crore, taking the total order value to about Rs. 38.28 crore including taxes, from Ajmer Vidyut Vitran Nigam Ltd. The contract covers supply, erection, inst...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.