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

• Market Cap: ₹2.26B
• Dividend Yield: 0.15%
• Average Volume (3M): 90.03K
• Price to Earnings (P/E): 16.7
• Beta (1Y): 0.19
• Revenue Growth: 48.46%
• EPS Growth: 11.68%
• Country: IN
• Employees: 75
• Sector: Industrials
• Sector Strength: 72
• Industry: Engineering & Construction
• EPS (TTM): 2.66
• Shares Outstanding: 17,582,900
• 10 Day Avg. Volume: 102,174
• 30 Day Avg. Volume: 90,026
• PEG Ratio: 0.53
• Price to Book (P/B): 2.44
• Price to Sales (P/S): 1.60
• P/FCF Ratio: -6.81
• Enterprise Value/Market Cap: N/A
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: N/A
• 1Y Price Target: N/A
• Price Target Upside: N/A
• Rating Consensus: Hold
• Number of Analyst Covering: 0
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 61 Neutral
• Price Target: ₹172.00 ▲(40.33% Upside)

Power & Instrumentation (Gujarat) Ltd. demonstrates strong financial performance with robust revenue growth and profitability improvements. However, cash flow challenges and mixed technical indicators slightly temper the overall outlook. The stock's valuation is fair, reflecting moderate growth expectations.

Positive Factors

Revenue Growth

The significant revenue growth indicates strong demand for PIGL's products and services, enhancing its market position and competitive edge in the engineering sector.

Profitability Improvements

Enhanced profitability through better cost management and operational efficiency strengthens PIGL's financial health and supports sustainable growth.

Strong Equity Position

A strong equity position provides financial stability, reducing reliance on debt and enhancing the company's ability to invest in growth opportunities.

Negative Factors

Cash Flow Challenges

Negative operating cash flow can strain liquidity, potentially limiting PIGL's ability to fund operations and invest in future growth without relying on external financing.

Working Capital Strain

Higher working capital needs can reduce cash availability, affecting PIGL's operational flexibility and increasing the risk of financial constraints.

Debt Management

While leverage is manageable, any increase in debt could impact financial flexibility, especially with existing cash flow challenges, potentially affecting long-term stability.

Power & Instrumentation (Gujarat) Ltd. Business Overview & Revenue Model

Company Description

Power & Instrumentation (Gujarat) Ltd. (PIGL) is a leading provider of engineering solutions and services in the fields of power and instrumentation. The company specializes in the design, manufacture, and supply of high-quality instrumentation equipment and power systems for various industrial applications, including oil and gas, petrochemicals, water treatment, and renewable energy. With a strong focus on innovation and technology, PIGL aims to enhance operational efficiency and safety for its clients while adhering to the highest standards of quality and reliability.

How the Company Makes Money

PIGL generates revenue primarily through the sale of its core products, which include instrumentation devices, control systems, and power management solutions. The company also earns income from offering engineering services, including installation, maintenance, and technical support for its products. Key revenue streams include long-term contracts with large industrial clients, project-based contracts for specific installations, and recurring revenue from maintenance agreements. Additionally, PIGL may collaborate with strategic partners in technology and engineering sectors to expand its reach and capabilities, further contributing to its financial performance.

Power & Instrumentation (Gujarat) Ltd. Financial Statement Overview

Summary

Power & Instrumentation (Gujarat) Ltd. shows strong revenue growth and improving profitability with stable gross profit margins and improved net profit margins. However, challenges in cash flow management due to negative operating cash flow slightly offset these strengths.

Income Statement

Power & Instrumentation (Gujarat) Ltd. has shown a strong revenue growth with a 73% increase from 2024 to 2025. The gross profit margin is stable at around 14%, with a notable improvement in net profit margin to 7% in 2025. The EBIT and EBITDA margins have also improved, indicating effective cost management and operational efficiency.

Balance Sheet

The company's balance sheet shows a strong equity position with an equity ratio of 64%. However, the debt-to-equity ratio is moderate at 0.17, suggesting manageable leverage. Return on equity has improved significantly to 10.64% in 2025, reflecting better profitability.

Cash Flow

The cash flow statement indicates challenges with negative operating cash flow in 2025, primarily due to increased working capital requirements. Despite this, the company has managed to sustain its operations through effective financing activities, as seen in the positive financing cash flow.

Breakdown	TTM	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	1.85B	1.69B	974.90M	930.90M	912.80M	854.38M
Gross Profit	267.31M	236.47M	188.40M	145.80M	136.40M	150.07M
EBITDA	202.28M	195.87M	109.10M	86.10M	73.50M	78.60M
Net Income	124.42M	117.64M	59.00M	36.38M	29.00M	34.60M
Balance Sheet
Total Assets	0.00	1.73B	1.07B	1.07B	977.90M	638.74M
Cash, Cash Equivalents and Short-Term Investments	3.47M	41.91M	3.60M	2.70M	700.00K	62.62M
Total Debt	0.00	183.68M	146.80M	318.80M	286.70M	221.42M
Total Liabilities	-1.11B	629.18M	562.40M	613.98M	601.30M	341.08M
Stockholders Equity	1.11B	1.11B	512.26M	453.30M	364.50M	297.66M
Cash Flow
Free Cash Flow	0.00	-395.72M	83.60M	9.91M	-48.30M	-11.55M
Operating Cash Flow	0.00	-392.59M	84.80M	12.56M	-44.70M	-7.77M
Investing Cash Flow	0.00	-124.70M	-1.60M	-43.70M	-4.50M	195.00K
Financing Cash Flow	0.00	517.16M	-82.00M	36.62M	20.80M	14.21M

Power & Instrumentation (Gujarat) Ltd. Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 122.57
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Positive
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:PIGL, the sentiment is Negative. The current price of 122.57 is below the 20-day moving average (MA) of 138.72, below the 50-day MA of 148.86, and below the 200-day MA of 149.93, indicating a bearish trend. The MACD of -6.47 indicates Positive momentum. The RSI at 37.42 is Neutral, neither overbought nor oversold. The STOCH value of 30.88 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for IN:PIGL.

Power & Instrumentation (Gujarat) Ltd. Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
INDOTECH	74 Outperform	₹16.78B	19.95	―	―	34.48%	40.61%
Sector *	63 Neutral	$10.79B	15.43	7.44%	2.01%	2.89%	-14.66%
PIGL	61 Neutral	₹2.26B	16.69	―	0.15%	48.46%	11.68%
GENCON	59 Neutral	₹2.51B	21.91	―	―	4.10%	4.86%
KALYANIFRG	53 Neutral	₹2.33B	30.66	―	0.62%	0.76%	17.16%

Power & Instrumentation (Gujarat) Ltd. Corporate Events

Power & Instrumentation (Gujarat) Ltd. Announces Analyst and Investor Meeting

Power & Instrumentation (Gujarat) Limited has announced that its officials will engage in a meeting with analysts and institutional investors on December 13, 2025. This interaction aims to discuss publicly available information, ensuring no unpublished price-sensitive information is shared, which reflects the company’s commitment to transparency and regulatory compliance.

Power & Instrumentation (Gujarat) Ltd. Publishes Unaudited Financial Results

Power & Instrumentation (Gujarat) Limited has announced the publication of its unaudited standalone and consolidated financial results for the quarter and half year ending September 30, 2025, in compliance with SEBI regulations. This announcement, made through newspaper advertisements in both Gujarati and English, is part of the company’s commitment to transparency and regulatory compliance, potentially impacting investor confidence and market positioning.

Power & Instrumentation Secures Rs. 68.22 Crore Contract for Infrastructure Development

Power & Instrumentation (Gujarat) Limited has secured a significant work order valued at Rs. 68.22 crore from Ajmer Vidyut Vitran Nigam Limited. This contract involves the development of distribution infrastructure for segregating 11 KV mixed feeders in Rajasthan, under the RDSS scheme, and is expected to be completed in 15 months. This order underscores the company’s strong positioning in the domestic market for electrical infrastructure projects and is likely to enhance its operational capabilities and market presence.