Power & Instrumentation (Gujarat) Limited has secured an additional work order worth Rs 3,72,38,087 from Ajmer Vidyut Vitran Nigam Limited for the development of distribution infrastructure. The project entails the supply, erection, installation, testing, and commissioning of material and equipment for the segregation of 11 KV mixed feeders at the Salumbar Circle of Ajmer Discom in Rajasthan. This work is being executed under the RDSS scheme on a turnkey basis against the reference AVVNL/RDSS-FS/SLB/TN-165.

The latest order is an addition to a previously intimated contract, bringing the total aggregate value to Rs 38,28,38,087. The disclosure was made to the exchanges pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Order Details

The order has been awarded by a domestic entity and is not a related party transaction. The execution of the project is scheduled to be completed within a period of 15 months.

Power & Instrumentation (Gujarat) Limited reported a 26.1% increase in consolidated net profit for the financial year ended March 31, 2026, reaching ₹1,483.52 lakh compared to ₹1,176.28 lakh in the previous year. Consolidated revenue from operations for the year grew by 29.6% to ₹21,875.96 lakh from ₹16,884.31 lakh in FY25. The company's Board of Directors approved the audited standalone and consolidated financial results for the quarter and year ended March 31, 2026, at a meeting held on May 30, 2026.

Financial Performance

On a standalone basis, the company recorded a net profit of ₹1,344.93 lakh for FY26, a 14.5% increase from ₹1,175.22 lakh in FY25. Revenue from operations for the year stood at ₹20,004.16 lakh, up 18.5% from ₹16,884.31 lakh. For the quarter ended March 31, 2026, standalone profit after tax was ₹306.62 lakh, while revenue from operations was ₹4,627.34 lakh. Earnings per share (basic) for FY26 were reported at ₹7.71, compared to ₹6.61 in the previous year.

Consolidated Results

The consolidated results include the financial performance of its joint venture, PIGL GEPL JV, and subsidiary, Peaton Electricals Company Limited. Profit for the quarter ended March 31, 2026, on a consolidated basis, was ₹392.96 lakh. The company operates in one segment, "Electrical Contracting," and therefore segment reporting as required under IndAS-108 is not applicable.

Auditor's Report

M/s. MAAK and Associates, Statutory Auditors, issued an audit report with an unmodified opinion on the standalone financial results. However, for the consolidated financial results, the auditors issued a Statement of Impact Qualification. The auditors noted that they did not audit the financial results of the joint venture and subsidiary included in the consolidated results, which reflect unaudited financial information. Additionally, the auditors stated that the final value of the inventory has been calculated and certified by the management only due to its highly technical nature, and they have not been able to cross-confirm the same.