PIGL Shares Surge 5% on Rs. 68.22 Crore Rajasthan Power Order
Shares of Power and Instrumentation (Gujarat) Ltd. (PIGL) surged today, hitting a 5 percent upper circuit after securing a significant order. The order, worth Rs. 68.22 crore, is for developing distribution infrastructure in Rajasthan under the RDSS scheme.
The project, involving 11 KV mixed feeder segregation, is set to be completed in 15 months. It includes the supply, erection, installation, testing, and commissioning of equipment. This is a notable win for PIGL, which has previously completed over 35 airport projects and electrified over 100,000 BPL households. The company has also laid over 20,000 km of HT & LT lines. PIGL serves a prestigious client base, including BDL, ONGC, Indian Oil, and Bharat Petroleum.
The Indian power sector is thriving, with the country being the third-largest producer and consumer of electricity worldwide. The installed power capacity has reached 466.24 GW, marking an 80 percent increase over the last decade. PIGL, a leading player in the electrical contracting industry, has seen its total revenue rise by 62.15 percent in the first quarter of the current fiscal year. Its net profit has also increased, from Rs. 1.87 crore to Rs. 2.58 crore during the same period.
The recent order from AVVNL is a testament to PIGL's capabilities and the growing demand for power infrastructure in India. With a strong track record and a robust pipeline of projects, PIGL is well-positioned to continue its growth trajectory in the electrical contracting industry.
