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Power & Instrumentation (Gujarat) Ltd. (PIGL) AI Stock Analysis

1 Followers
IN:PIGL

Power & Instrumentation (Gujarat) Ltd.

(NSE:PIGL)

Select Model
Rating:69Neutral
Price Target:INR 100.00▲(2.45% Upside)
Action:reiterated
Date:09/10/26

The overall score is driven primarily by solid financial strength: revenue and profits have grown meaningfully, and a much lower debt burden has left the balance sheet conservative and resilient, though recent negative operating and free cash flow introduce liquidity and execution risk that caps the rating. Secondary factors modestly adjust the score: technically the stock is in a soft downtrend with bearish momentum but stable, neutral indicators rather than extreme weakness, and valuation looks reasonable with a moderate P/E but limited dividend income, supporting a mid‑to‑upper range score rather than a high‑conviction premium rating.

Positive Factors
Revenue AccelerationThe sharp FY2026 revenue acceleration indicates stronger business activity and improved market traction after low single-digit growth in prior years. If sustained, this larger revenue base can support operating leverage, broaden customer relationships, and improve the company’s ability to compound earnings.
Negative Factors
Weak Cash ConversionRepeated negative operating cash flow means reported profits are not consistently becoming available cash, weakening earnings quality and internal funding capacity. Continued working-capital absorption can constrain reinvestment, increase reliance on funding discipline, and make growth more financially demanding even with low leverage.

Power & Instrumentation (Gujarat) Ltd. (PIGL) vs. iShares MSCI India ETF (INDA)

-50%-40%-30%-20%-10%0%10%IN:PIGL-38.27%INDA-5.62%Dec '25Jan '26Feb '26Mar '26Apr '26May '26Jun '26Jul '26Aug '26Sep '26Oct '26Nov '26
Market Cap
INR 2.02B
Dividend Yield
0.21%
Average Volume (3M)
49.81K
Price to Earnings (P/E)
11.9
Beta (1Y)
0.72
Revenue Growth
16.60%
EPS Growth
-0.39%
Country
India
Employees
61
Sector
General
Sector Strength
55
Industry
Engineering & Construction

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 tens...

Power & Instrumentation (Gujarat) Ltd. Financial Statement Overview

Summary

Financial performance is solid overall, with strong revenue and profit growth and a much stronger, low‑leverage balance sheet, but recent years of negative operating and free cash flow despite rising earnings meaningfully weaken cash flow quality and keep the score below top tier.

Income Statement

78Positive

Balance Sheet

82Very Positive

Cash Flow

55Neutral
Financial statement breakdown
BreakdownTTMMar 2026Mar 2025Mar 2024Mar 2023Mar 2022
Income Statement
Total Revenue2.26B2.19B1.69B974.90M930.90M912.80M
Gross Profit315.92M285.38M236.47M188.40M145.80M136.40M
EBITDA250.33M229.73M195.87M109.10M85.59M73.50M
Net Income145.50M142.79M117.64M59.00M36.38M29.00M
Balance Sheet
Total Assets02.34B1.73B1.07B1.07B977.90M
Cash, Cash Equivalents and Short-Term Investments37.91M37.91M41.91M3.60M2.70M700.00K
Total Debt0135.26M183.68M146.80M318.80M286.70M
Total Liabilities-1.67B669.25M629.18M562.40M613.98M601.30M
Stockholders Equity1.67B1.53B1.11B512.26M453.30M364.50M
Cash Flow
Free Cash Flow0-101.58M-395.72M83.60M9.91M-48.30M
Operating Cash Flow0-90.58M-392.59M84.80M12.56M-44.70M
Investing Cash Flow0-136.71M-124.70M-1.60M-43.70M-4.50M
Financing Cash Flow0258.41M517.16M-82.00M36.62M20.80M

Power & Instrumentation (Gujarat) Ltd. Technical Analysis

Technical Analysis SentimentPositive
Last Price97.61

Price Trends

50DMA96.41Positive
100DMA102.82Negative
200DMA105.67Negative

Market Momentum

MACD-0.44Negative
RSI55.95Neutral
STOCH68.29Neutral

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 97.61 is above the 20-day moving average (MA) of 93.01, above the 50-day MA of 96.41, and below the 200-day MA of 105.67, indicating a neutral trend. The MACD of -0.44 indicates Negative momentum. The RSI at 55.95 is Neutral, neither overbought nor oversold. The STOCH value of 68.29 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

Overall Rating

UnderperformOutperform
Sector (55)

Financial Indicators

IN:PIGL against its peers
NameOverall RatingMarket CapP/E RatioROEDividend YieldRevenue GrowthEPS Growth
IN:PIGLIN:PIGL69NeutralINR 2.01B11.93―0.21%16.60%-0.39%
IN:POWERMECHIN:POWERMECH59NeutralINR 75.64B19.35―0.06%18.19%22.47%
Sector *55Neutral$6.65B3.83-15.92%6.20%10.91%7.18%
IN:TECHNOEIN:TECHNOE55NeutralINR 112.83B27.42―0.69%28.33%3.14%
IN:KECIN:KEC53NeutralINR 91.88B21.43―1.62%-1.94%-38.13%
IN:GVPILIN:GVPIL50NeutralINR 42.62B15.89―1.10%18.73%―
IN:BGRENERGYIN:BGRENERGY40UnderperformINR 22.46B-1.81――-38.23%-10.95%

* General Sector Average

Performance Comparison

0%100%IN:PIGLIN:BGRENERGYIN:GVPILIN:KECIN:POWERMECHIN:TECHNOEDec '25Jan '26Feb '26Mar '26Apr '26May '26Jun '26Jul '26Aug '26Sep '26Oct '26Nov '26
IN:PIGL and its peers over the selected period
Show on chartTickerCompany NamePriceChange% Change
IN:PIGLPower & Instrumentation (Gujarat) Ltd.97.61-59.64-37.93%
IN:BGRENERGYBGR Energy Systems Limited317.35-88.00-21.71%
IN:GVPILGE Power India Ltd.639.50288.4582.17%
IN:KECKEC International Ltd.340.25-442.29-56.52%
IN:POWERMECHPower Mech Projects Ltd.2396.05-16.51-0.68%
IN:TECHNOETechno Electric & Engineering Company Limited1012.80-205.78-16.89%

Power & Instrumentation (Gujarat) Ltd. Corporate Events

Power & Instrumentation Releases Q2 and H1 FY27 Investor Presentation

Nov 7, 2026

Power & Instrumentation (Gujarat) Limited, an ISO 9001:2015-certified and publicly listed power-infrastructure company, serves transmission and distribution, renewable energy, airports, and broader infrastructure markets.The company submitted its inv...

Power & Instrumentation (Gujarat) Wins ₹6.06 Crore Solar Panel Order Under KUSUM-C Scheme

Sep 19, 2026

Power & Instrumentation (Gujarat) Ltd. has secured a domestic work order from Mahesh Solar Solution Private Limited for the supply of 11 kV ICOG panels and inverter LT panels under the KUSUM-C feeder-level solarisation scheme. The equipment will be d...

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 digital...

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 Affai...

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 AGM...

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 li...

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’s listin...

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.

Date of analysis: Sep 10, 2026