{"id":181139,"date":"2026-02-17T01:02:16","date_gmt":"2026-02-17T06:02:16","guid":{"rendered":"https:\/\/alphastreet.com\/india\/?p=181139"},"modified":"2026-02-17T01:02:16","modified_gmt":"2026-02-17T06:02:16","slug":"power-and-instrumentation-gujarat-reports-higher-q3-income-and-profit-amid-epc-order-wins","status":"publish","type":"post","link":"https:\/\/alphastreet.com\/india\/power-and-instrumentation-gujarat-reports-higher-q3-income-and-profit-amid-epc-order-wins\/","title":{"rendered":"Power and Instrumentation (Gujarat) reports higher Q3 income and profit amid EPC order wins"},"content":{"rendered":"\n

Power and Instrumentation (Gujarat) Ltd (BSE: 543912 \/ NSE: PIGL)<\/strong> reported higher revenue and profitability in the quarter ended December 31, 2025, driven by execution of electrical EPC projects and new infrastructure contracts, according to its Q3 FY26 disclosures.<\/p>\n\n\n\n

For Q3 FY26, consolidated total income rose 43.2% year-on-year to \u20b948.89 crore, while EBITDA increased 37.8% to \u20b96.16 crore. Reported net profit rose 12% to \u20b93.57 crore.<\/p>\n\n\n\n

Business overview<\/strong><\/h2>\n\n\n\n

Power and Instrumentation (Gujarat) Ltd is an electrical EPC contractor established in 1975, specialising in engineering, procurement and construction solutions across power distribution, substations, transmission, lighting and backup power systems.<\/p>\n\n\n\n

The company serves government and private clients across sectors including infrastructure, airports, telecom, industrial facilities and public utilities. It has completed more than 35 airport projects, electrified over 100,000 households and laid over 20,000 km of HT and LT lines.<\/p>\n\n\n\n

Financial performance \u2014 Q3 FY26<\/strong><\/h2>\n\n\n\n

Consolidated net sales increased to \u20b948.66 crore in Q3 FY26 from \u20b933.37 crore in Q3 FY25. Total expenditure rose to \u20b942.73 crore, resulting in EBITDA of \u20b96.16 crore compared with \u20b94.47 crore a year earlier.<\/p>\n\n\n\n

EBITDA margin stood at 12.6%, compared with 13.1% in the prior-year quarter. Profit before tax rose to \u20b94.53 crore, while net profit stood at \u20b93.57 crore versus \u20b93.19 crore in Q3 FY25.<\/p>\n\n\n\n

Nine-month performance (9M FY26)<\/strong><\/h2>\n\n\n\n

For the nine months ended December 31, 2025, consolidated total income increased 39.2% year-on-year to \u20b9161.35 crore. EBITDA rose 24.9% to \u20b917.68 crore, while net profit increased 21.9% to \u20b910.91 crore.<\/p>\n\n\n\n

Net profit margin for 9M FY26 stood at 6.76%, compared with 7.72% in the corresponding period last year.<\/p>\n\n\n\n

Operational highlights and order inflows<\/strong><\/h2>\n\n\n\n

During Q3 FY26, the company secured contracts totaling \u20b9124.17 crore.<\/p>\n\n\n\n

Key orders include:<\/p>\n\n\n\n

    \n
  • \u20b9102.78 crore turnkey electrification project from Ajmer Vidyut Vitran Nigam Ltd<\/strong> under the RDSS scheme in Rajasthan, with a 15-month execution timeline.<\/li>\n\n\n\n
  • \u20b921.39 crore industrial development contract from ATS Techno Ltd<\/strong> for design, supply, installation and commissioning works at an industrial park in Ahmedabad.<\/li>\n<\/ul>\n\n\n\n

    The company stated that these contracts strengthen revenue visibility over the next 12\u201315 months.<\/p>\n\n\n\n

    Technology and product developments<\/strong><\/h2>\n\n\n\n

    The company\u2019s subsidiary, Peaton Electricals Company Ltd<\/strong>, received approval from the Central Power Research Institute (CPRI) for 11 kV, 3000 Amp segregated phase busduct systems.<\/p>\n\n\n\n

    Management highlighted busduct systems as an emerging opportunity, driven by infrastructure, data centers, commercial buildings and industrial electrification projects.<\/p>\n\n\n\n

    Business footprint and execution<\/strong><\/h2>\n\n\n\n

    PIGL currently operates across multiple Indian states including Gujarat, Rajasthan, Maharashtra, Kerala, Assam, Goa, Madhya Pradesh and Jharkhand, serving clients such as airports, utilities and industrial companies.<\/p>\n\n\n\n

    As of February 2026, the company reported ongoing work worth over \u20b9450 crore and bids totaling more than \u20b9200 crore.<\/p>\n\n\n\n

    Risks and constraints<\/strong><\/h2>\n\n\n\n

    Company disclosures indicate that performance remains dependent on EPC execution timelines, infrastructure spending cycles, cost management, and sector demand trends. The company also noted that forward-looking statements are subject to economic and regulatory uncertainties.<\/p>\n\n\n\n

    Outlook<\/strong><\/h2>\n\n\n\n

    Management stated that continued order inflows, improved execution capabilities and expanding technical offerings are expected to support growth momentum and long-term value creation.<\/p>\n","protected":false},"excerpt":{"rendered":"

    Power and Instrumentation (Gujarat) Ltd (BSE: 543912 \/ NSE: PIGL) reported higher revenue and profitability in the quarter ended December 31, 2025, driven by execution of electrical EPC projects and new infrastructure contracts, according to its Q3 FY26 disclosures. For Q3 FY26, consolidated total income rose 43.2% year-on-year to \u20b948.89 crore, while EBITDA increased 37.8% […]<\/p>\n","protected":false},"author":2390,"featured_media":125416,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[392,1941,5746,5],"tags":[16624,16623,16622,16621],"class_list":["post-181139","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-earnings","category-stock-analysis","category-energy-stocks","category-latest","tag-electrical-epc-india","tag-pigl","tag-pigl-q3-fy26","tag-power-and-instrumentation-gujarat"],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"https:\/\/alphastreet.com\/india\/wp-content\/uploads\/2021\/11\/Earnings-Coverage.jpg","jetpack_likes_enabled":false,"jetpack-related-posts":[{"id":175930,"url":"https:\/\/alphastreet.com\/india\/gujarat-gas-ltd-shares-drift-as-q3-fy26-revenue-contracts-profit-rises\/","url_meta":{"origin":181139,"position":0},"title":"Gujarat Gas Ltd shares drift as Q3 FY26 revenue contracts; profit rises","author":"Staff Correspondent","date":"January 21, 2026","format":false,"excerpt":"Gujarat Gas Ltd (NSE: GUJGASLTD) shares closed at \u20b9399.0 on the National Stock Exchange on Wednesday, reflecting a modest intraday move after the company reported third-quarter financials for the fiscal year ending March 31, 2026. The stock was down slightly from the previous session\u2019s close, extending a recent series of\u2026","rel":"","context":"In "Analysis"","block_context":{"text":"Analysis","link":"https:\/\/alphastreet.com\/india\/category\/stock-analysis\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2021\/11\/Earnings-Coverage.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2021\/11\/Earnings-Coverage.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2021\/11\/Earnings-Coverage.jpg?resize=525%2C300&ssl=1 1.5x"},"classes":[]},{"id":179236,"url":"https:\/\/alphastreet.com\/india\/transrail-lighting-reports-strong-revenue-and-profit-growth-in-q3-and-9m-fy26-on-higher-td-execution\/","url_meta":{"origin":181139,"position":1},"title":"Transrail Lighting reports strong revenue and profit growth in Q3 and 9M FY26 on higher T&D execution","author":"Staff Correspondent","date":"February 3, 2026","format":false,"excerpt":"Transrail Lighting Ltd (BSE: 544317 \/ NSE: TRANSRAILL) reported higher revenue and profitability in the quarter ended December 31, 2025, driven by robust execution in its Transmission & Distribution (T&D) segment, rising order inflows and a larger unexecuted order book. The company posted revenue from operations of \u20b91,796 crore in\u2026","rel":"","context":"In "Earnings"","block_context":{"text":"Earnings","link":"https:\/\/alphastreet.com\/india\/category\/earnings\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2021\/11\/Earnings-Coverage.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2021\/11\/Earnings-Coverage.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2021\/11\/Earnings-Coverage.jpg?resize=525%2C300&ssl=1 1.5x"},"classes":[]},{"id":177305,"url":"https:\/\/alphastreet.com\/india\/waaree-energies-shares-rise-after-double-digit-growth-in-quarterly-earnings\/","url_meta":{"origin":181139,"position":2},"title":"Waaree Energies Shares Rise After Double-Digit Growth in Quarterly Earnings","author":"Staff Correspondent","date":"January 23, 2026","format":false,"excerpt":"Waaree Energies Ltd (NSE: WAAREEENER, BSE: 544277) shares closed at \u20b92,608.60 on the National Stock Exchange on Thursday, up about 12 % on the day, after the company reported sharply higher quarterly results. The stock traded in a range of approximately \u20b92,560\u2013\u20b92,740 during the session. Market Capitalization At the closing\u2026","rel":"","context":"In "Earnings"","block_context":{"text":"Earnings","link":"https:\/\/alphastreet.com\/india\/category\/earnings\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2021\/11\/Earnings-Coverage.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2021\/11\/Earnings-Coverage.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2021\/11\/Earnings-Coverage.jpg?resize=525%2C300&ssl=1 1.5x"},"classes":[]},{"id":177386,"url":"https:\/\/alphastreet.com\/india\/adani-green-energy-ltd-q3-fy26-profitability-fell-sharply\/","url_meta":{"origin":181139,"position":3},"title":"Adani Green Energy Ltd – Q3 FY26 Profitability Fell Sharply","author":"Staff Correspondent","date":"January 23, 2026","format":false,"excerpt":"Adani Green Energy Ltd (NSE: ADANIGREEN), an Indian renewable energy company, reported mixed financial results for Q3 FY26 as revenue and EBITDA rose, but profitability fell sharply. Quarterly Financials Adani Green\u2019s consolidated net profit for the quarter ended Dec. 31, 2025 plunged sharply to \u20b95 crore from \u20b9474 crore in\u2026","rel":"","context":"In "LATEST"","block_context":{"text":"LATEST","link":"https:\/\/alphastreet.com\/india\/category\/latest\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2021\/10\/Earnings-Coverage.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2021\/10\/Earnings-Coverage.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2021\/10\/Earnings-Coverage.jpg?resize=525%2C300&ssl=1 1.5x"},"classes":[]},{"id":173162,"url":"https:\/\/alphastreet.com\/india\/sterling-wilson-renewable-q3-fy26-earnings-results\/","url_meta":{"origin":181139,"position":4},"title":"Sterling & Wilson Renewable Q3 FY26 Earnings Results","author":"Chirag Gupta","date":"January 15, 2026","format":false,"excerpt":"Sterling and Wilson Solar Ltd is one of the leading end-to-end solar engineering, procurement and construction (EPC) solutions provider globally and is also engaged in the operation and maintenance (O&M) of solar power projects. The company is backed by strong parentage of the Reliance Industries Q3 FY26 Earnings Results Revenue\u2026","rel":"","context":"In "AlphaGraphs"","block_context":{"text":"AlphaGraphs","link":"https:\/\/alphastreet.com\/india\/category\/infographics\/"},"img":{"alt_text":"Sterling Wilson Renewable Q3 FY26 Earnings Results","src":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2026\/01\/Sterling-Wilson-Renewable-Q3-FY26-Earnings-Results.png?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2026\/01\/Sterling-Wilson-Renewable-Q3-FY26-Earnings-Results.png?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2026\/01\/Sterling-Wilson-Renewable-Q3-FY26-Earnings-Results.png?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2026\/01\/Sterling-Wilson-Renewable-Q3-FY26-Earnings-Results.png?resize=700%2C400&ssl=1 2x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2026\/01\/Sterling-Wilson-Renewable-Q3-FY26-Earnings-Results.png?resize=1050%2C600&ssl=1 3x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2026\/01\/Sterling-Wilson-Renewable-Q3-FY26-Earnings-Results.png?resize=1400%2C800&ssl=1 4x"},"classes":[]},{"id":179640,"url":"https:\/\/alphastreet.com\/india\/kalpataru-projects-q3-fy26-earnings-results\/","url_meta":{"origin":181139,"position":5},"title":"Kalpataru Projects Q3 FY26 Earnings Results","author":"Divyansh_Kasana","date":"February 5, 2026","format":false,"excerpt":"Executive Summary Kalpataru Projects International Ltd reported Q3FY26 revenues of \u20b96,665 crore, up 16.28% YoY, with consolidated net profit increasing 6.43% to \u20b9149 crore. EPC execution momentum across power T&D, oil & gas pipelines, and railways drove topline growth despite modest profitability gains from stable margins. Revenue & Growth Revenues\u2026","rel":"","context":"In "AlphaGraphs"","block_context":{"text":"AlphaGraphs","link":"https:\/\/alphastreet.com\/india\/category\/infographics\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2026\/02\/KP.png?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2026\/02\/KP.png?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2026\/02\/KP.png?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2026\/02\/KP.png?resize=700%2C400&ssl=1 2x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2026\/02\/KP.png?resize=1050%2C600&ssl=1 3x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2026\/02\/KP.png?resize=1400%2C800&ssl=1 4x"},"classes":[]}],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/posts\/181139","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/users\/2390"}],"replies":[{"embeddable":true,"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/comments?post=181139"}],"version-history":[{"count":1,"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/posts\/181139\/revisions"}],"predecessor-version":[{"id":181140,"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/posts\/181139\/revisions\/181140"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/media\/125416"}],"wp:attachment":[{"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/media?parent=181139"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/categories?post=181139"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/tags?post=181139"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}