PFA
PIGL · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Power and Instrumentation (Gujarat) Ltd reported standalone revenue of ₹20,004.16 Lakhs for FY26, up 18.5% from ₹16,884.31 Lakhs in FY25. Standalone profit after tax grew 14.4% to ₹1,344.93 Lakhs. On a consolidated basis, revenue jumped 29.6% to ₹21,875.96 Lakhs with PAT up 26.1% to ₹1,483.52 Lakhs. However, the company reported negative operating cash flow of ₹-764.05 Lakhs for FY26, a significant concern despite the profit growth. The standalone audit received an unmodified opinion, but the consolidated results have a qualification. Auditors noted they could not cross-confirm inventory values due to the technical nature of the business, and subsidiary/joint venture financials were unaudited.
While revenue and profit growth are positive, the negative operating cash flow and auditor qualifications on consolidated results raise red flags for investors. The substantial increase in borrowings also indicates higher financial leverage. Shareholders should monitor cash flow conversion and the impact of the qualification on future reporting.