Power & Instrumentation (Gujarat) Limited has informed the Exchange about Transcript
PIGL · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
PIGL reported Q3 FY26 consolidated revenue of INR 48.89 crores, up 43.18% YoY, with EBITDA of INR 6.16 crores (12.6% margin) and net profit of INR 3.57 crores (7.31% margin, EPS INR 1.69). For 9M FY26, revenue grew 39.23% YoY to INR 161.35 crores with EBITDA margin of 10.96% and PAT margin of 6.76%. The order book stands at around INR 450 crores, with 60-65% in RDSS/distribution and 30-35% in infra; nearly the entire book is government-backed. Management guided to 30-35% YoY revenue growth for the next 5 years, with EBITDA margins expanding to 12-14% near term and 15% medium term, and PAT margins targeting 9-10% in 1-2 years. The new Phibar busduct manufacturing line (CPRI-approved) is expected to meaningfully contribute from H2 FY27, targeting 20-25% of revenue. Expansion will be funded via internal accruals and project-specific debt, with no equity dilution planned.
Strong revenue growth, healthy order book visibility of 1.5-2x FY26 revenue, and clear margin expansion targets are positives for shareholders, though near-term EBITDA margins remain below guided levels and working capital cycle of 95-100 days needs improvement. The busduct manufacturing entry adds a new growth lever but specifics on its profitability were withheld, leaving some uncertainty for investors.