Power Instrumentation Gujarat Q2 Results: Net Profit Rises 21%, Income Up 27%

Power Instrumentation Gujarat Ltd (PIGL) shares climbed 5 percent on Monday after the company delivered its positive earnings for the second quarter and first half of FY26, backed by healthy revenue growth and a robust order pipeline. The performance adds to the optimism around power, electrification, and infrastructure activity in the country.

PIGL reported a 27.2 per cent year-on-year rise in Q2 FY26 total income to Rs 70.91 crore, while EBITDA came in at Rs 7.24 crore, up nearly 20 per cent. Net profit for the quarter increased 21.11 per cent to Rs 4.71 crore.

Following the results, the shares of PGIL rose 5% to hit the upper circuit at Rs 165.5 apiece in the morning on the NSE, before losing all gains to trade flat at nearly Rs 157 apiece at of around

12:00 pm.

The growth momentum extended into the first half of the year as well. H1 FY26 total income touched Rs 112.46 crore, a 37.57 percent jump from the previous year. EBITDA for the period rose to Rs 11.52 crore, up almost 19 percent, and net profit grew 27.29 percent to Rs 7.33 crore.

The company’s order book remains a key strength. As of November 14, PIGL is sitting on over Rs 520 crore worth of active projects with an execution cycle of 12-15 months, along with Rs 200 crore-plus worth of tenders under bidding. Recent order wins total Rs 133.67 crore, including Rs 102.78 crore of rural electrification work under the RDSS scheme and Rs 9.50 crore in solar EPC projects.

PIGL’s acquisition of a 51.06 percent stake in Peaton Electrical (PECL) added another Rs 31.80 crore to its order book and is expected to strengthen backward integration and capabilities across the power and renewable segments.

PIGL Managing Director Padmaraj Padmnabhan Pillai said the quarterly performance highlights the company’s emphasis on disciplined execution and steady operational improvement. He noted that strong inflows and government-led electrification initiatives have further strengthened PIGL’s position in critical infrastructure projects.

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