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

• Market Cap: ₹2.67B
• Dividend Yield: 0.13%
• Average Volume (3M): 44.77K
• Price to Earnings (P/E): 19.5
• Beta (1Y): 0.52
• Revenue Growth: 77.33%
• EPS Growth: 45.34%
• Country: IN
• Employees: 75
• Sector: Industrials
• Sector Strength: 73
• Industry: Engineering & Construction
• EPS (TTM): 1.50
• Shares Outstanding: 17,582,900
• 10 Day Avg. Volume: 44,857
• 30 Day Avg. Volume: 44,766
• PEG Ratio: N/A
• Price to Book (P/B): N/A
• Price to Sales (P/S): N/A
• P/FCF Ratio: N/A
• 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: ₹149.00
• Price Target Upside: -3.90% Downside
• Rating Consensus: Hold
• Number of Analyst Covering: 0

• Rating: 65 Neutral
• Price Target: ₹149.00 ▼(-3.90% Downside)

Power & Instrumentation (Gujarat) Ltd. scores well due to strong financial performance driven by revenue growth and improved profitability. Technical indicators suggest positive momentum, though caution is advised due to potential overbought conditions. Valuation appears fair, but the low dividend yield may not attract income-focused investors.

Positive Factors

Revenue Growth

The significant revenue growth indicates robust demand for PIGL's services, enhancing its market position and supporting long-term business expansion.

Profitability Improvement

Improved net profit margins reflect effective cost management and operational efficiency, contributing to sustainable profitability and competitive advantage.

Strong Equity Position

A strong equity position provides financial stability and flexibility, enabling the company to invest in growth opportunities and withstand economic fluctuations.

Negative Factors

Negative Operating Cash Flow

Negative operating cash flow can strain liquidity and limit the company's ability to fund operations and growth initiatives, posing a risk to financial health.

Cash Flow Management Challenges

Ongoing cash flow management issues may hinder the company's ability to sustain operations and invest in future growth, impacting long-term performance.

Low Dividend Yield

A low dividend yield may not attract income-focused investors, potentially limiting the company's appeal to a broader investor base and affecting stock demand.

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

Company Description

Power & Instrumentation (Gujarat) Ltd. (PIGL) is a prominent engineering, procurement, and construction company based in Gujarat, India. The company specializes in offering comprehensive electrical and instrumentation services across various sectors, including power, oil and gas, petrochemicals, and infrastructure. PIGL is known for delivering turnkey solutions that encompass design, engineering, supply, installation, testing, and commissioning of electrical and instrumentation systems.

How the Company Makes Money

Power & Instrumentation (Gujarat) Ltd. generates revenue primarily through its engineering, procurement, and construction (EPC) services. The company earns money by securing contracts for large-scale projects in sectors such as power generation, oil and gas, petrochemicals, and infrastructure development. Revenue streams include design and engineering fees, procurement of materials and equipment, and charges for installation, testing, and commissioning services. PIGL also benefits from long-term maintenance contracts and partnerships with key industry players, which contribute to a steady income and enhanced business opportunities.

Power & Instrumentation (Gujarat) Ltd. Financial Statement Overview

Summary

Power & Instrumentation (Gujarat) Ltd. demonstrates strong revenue growth and improving profitability with stable gross profit margins and enhanced net profit margins. However, challenges in cash flow management, particularly negative operating cash flow, slightly offset these positives.

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 2023	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	1.53B	1.69B	942.60M	974.90M	912.80M	854.38M
Gross Profit	237.33M	236.47M	145.80M	188.40M	136.40M	150.07M
EBITDA	182.15M	195.87M	86.10M	109.10M	73.50M	81.99M
Net Income	115.57M	117.64M	36.38M	59.00M	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	7.43M	41.91M	42.94M	3.60M	69.20M	62.62M
Total Debt	0.00	183.68M	318.80M	146.80M	284.70M	221.42M
Total Liabilities	-963.28M	629.18M	613.98M	562.40M	601.30M	341.08M
Stockholders Equity	963.28M	1.11B	453.30M	512.26M	376.60M	297.66M
Cash Flow
Free Cash Flow	0.00	-395.72M	9.91M	83.60M	-48.30M	-11.55M
Operating Cash Flow	0.00	-392.59M	12.56M	84.80M	-44.70M	-7.77M
Investing Cash Flow	0.00	-124.70M	-47.46M	-1.60M	-4.50M	195.00K
Financing Cash Flow	0.00	517.16M	36.62M	-82.00M	55.80M	14.21M

Power & Instrumentation (Gujarat) Ltd. Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 155.04
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Negative
• MACD: Positive
• RSI: Neutral
• STOCH: Positive

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 155.04 is above the 20-day moving average (MA) of 151.54, above the 50-day MA of 136.41, and below the 200-day MA of 205.06, indicating a neutral trend. The MACD of 5.02 indicates Positive momentum. The RSI at 55.67 is Neutral, neither overbought nor oversold. The STOCH value of 16.60 is Positive, 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

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
PIGL	65 Neutral	₹2.67B	19.53		0.13%	77.33%	45.34%
Sector *	64 Neutral	$10.84B	15.28	7.40%	1.99%	2.87%	-14.59%
COROENGG	―	₹2.38B	79.40		―	―	―
INDOTECH	69 Neutral	₹18.83B	24.41		―	40.81%	56.69%
GENCON	68 Neutral	₹2.43B	19.51		0.17%	5.68%	-3.27%
KALYANIFRG	60 Neutral	₹2.56B	27.73		0.57%	4.21%	142.44%
TATAYODOGA	―	₹917.33M	―		―	―	―

Power & Instrumentation (Gujarat) Ltd. Corporate Events

Power & Instrumentation (Gujarat) Ltd. Reports Robust Q1 FY26 Financial Performance

Power & Instrumentation (Gujarat) Limited reported a significant financial performance for Q1 FY26, with revenues increasing by 60% and net profit surging by 40% year-on-year. The company secured major contracts, including a prestigious project for the electrification of the Udaipur Airport terminal, highlighting its strong market position and execution capabilities. Additionally, the company entered the Extra High Voltage Segment with a contract from Godrej & Boyce Mfg Co Ltd., further solidifying its foothold in high-value infrastructure projects.