Major electrification contracts awarded to Power & Instrumentation (Gujarat) Limited, worth Rs 28.41cr

Power & Instrumentation (Gujarat) Limited (NSE: PIGL, BSE: 543912), a prominent name in the electrical contracting and equipment sector, has secured major contracts valued at ₹28.41 crore under the Mukhyamantri Ujjawal Jharkhand Yojana (MUJY). These contracts are focused on the electrification of both un-electrified and partially electrified areas in Sahibganj District, Jharkhand.

Contract Overview

Under the first part of the contract, Power & Instrumentation (Gujarat) Limited will oversee the entire process of loading, transportation, installation, and commissioning of the electrification infrastructure. This contract, amounting to ₹22.92 crore, aims to ensure that both rural habitations with fewer than 10 households and urban areas receive consistent and reliable electricity.

The second part of the contract, worth ₹5.49 crore, involves a broad array of activities including site surveys, planning, design, engineering, assembly, manufacturing, testing, and the supply of essential materials.

Project Goals and Impact

These projects are pivotal in enhancing the electrification infrastructure of Sahibganj District, aligning with the broader goals of the Mukhyamantri Ujjawal Jharkhand Yojana to improve living standards through upgraded infrastructure. Power & Instrumentation (Gujarat) Limited brings extensive experience to these projects, having previously executed contracts valued at over ₹100 crore.

Expert Insights

Padmaraj Padmnabhan Pillai, Managing Director of Power & Instrumentation (Gujarat) Limited, commented on the achievement, stating that these contracts represent a significant milestone for the company. He emphasised the company’s commitment to delivering high-impact solutions and its dedication to exceeding expectations. Pillai expressed confidence in their team’s preparedness to manage the comprehensive scope of work, including the supply of plant and equipment and meticulous installation services.

Company Background

Founded in 1975, Power & Instrumentation (Gujarat) Limited has established itself as a key player in the electrical contracting and equipment industry. The company’s services span Electrical, Procurement, and Construction (EPC) solutions, covering installations, maintenance, repairs, and the sale of electrical equipment. Their expertise includes the design, installation, and maintenance of energy-efficient power and distribution transformers, generators, load banks, and more.

The company serves a diverse range of clients, including industrial, commercial, and government entities, delivering projects with precision and punctuality. In May 2023, Power & Instrumentation (Gujarat) Limited transitioned to the main boards of the National Stock Exchange and Bombay Stock Exchange. For FY24, the company reported a total income of ₹102.03 crore, EBITDA of ₹12.36 crore, and a net profit of ₹5.93 crore.