Power & Instrumentation (Gujarat) Limited has informed regarding Disclosure of material issue
PIGL · price
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Power & Instrumentation (Gujarat) Limited (PIGL) has acquired an additional 8.94% stake in Peaton Electrical Company Limited (PECL), raising its holding from 51.06% to 60% — PECL continues as a subsidiary with majority control. The deal cost Rs. 3.13 Crore in cash and has already been completed with no regulatory approvals needed. PECL manufactures LT panels, bus trunking systems, compact substations, and other electrical panels, supplying to PSUs and corporates; its turnover grew from Rs. 23.63 Crore in FY24 to Rs. 36.04 Crore in FY25 (about 52% growth). The transaction is a related-party deal (promoter group held 40% in PECL pre-acquisition) but was carried out at arm's length and approved by the Audit Committee and Board. The move is positioned as a strategic collaboration to boost product development, new technologies, and incremental manufacturing capacity.
PIGL deepens its grip on a growing subsidiary, but the deal is small at Rs. 3.13 Crore and unlikely to materially move the stock. The healthy FY25 turnover growth at PECL is mildly positive for PIGL's consolidated earnings going forward.