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Power & Instrumentation (Gujarat) Ltd. ( (IN:PIGL) ) has provided an update.
Power & Instrumentation (Gujarat) Ltd. has moved to deepen its presence in the power equipment manufacturing space by increasing its stake in subsidiary Peaton Electrical Company Ltd., a producer of unitized substations and MV/LV panels for PSU, government, and corporate clients. Peaton has reported turnover ranging from about Rs. 23.63 crore to Rs. 36.04 crore over the last three financial years, underscoring its role as a meaningful contributor to the group’s operations.
The company has agreed to acquire an additional 8.94% stake in Peaton Electrical, a related-party transaction approved by its Audit Committee and Board and stated to be at arm’s length under Indian company and securities regulations. The move consolidates Power & Instrumentation’s control over the subsidiary, potentially strengthening its integrated offerings in electrical systems and signaling continued strategic investment in its core power and infrastructure value chain.
More about Power & Instrumentation (Gujarat) Ltd.
Power & Instrumentation (Gujarat) Ltd. operates in the electrical engineering and infrastructure sector, focusing on power-related equipment and services. Its subsidiary, Peaton Electrical Company Ltd., manufactures unitized substations, medium-voltage panels up to 33 kV, low-voltage panels, bus trunking systems, and distribution boards, supplying primarily to major public sector undertakings, government bodies, semi-government entities, and large corporates.
Average Trading Volume: 58,169
Technical Sentiment Signal: Sell
Current Market Cap: 1.7B INR
For detailed information about PIGL stock, go to TipRanks’ Stock Analysis page.