Arthneeti

Power & Instrumentation (Gujarat) Q3 FY26 Share Price & Earnings Call Analysis

₹96.61+7.67% today
Market cap
₹205 Cr
P/E
15.07
ROE
10.48%
PEG
0.28
Price to sales
1.02
Debt to equity
0.16
52W high / low
₹158 / ₹88.6
Sales growth (5Y)
18.55%
EBITDA margin
10.26%
Net profit margin
6.74%
Promoter holding
50.70%
Sales (last year)
₹199 Cr

Incorporated in 1975, Power & Instrumentation (Gujarat) Ltd is in the business of Electrical Contract Work and deals in electrical equipment[1]

Guidance scorecard · Q3 FY26 call

What Power & Instrumentation (Gujarat) Ltd's management guided
and where it ranks in Electrical Equipment

#41of 58 in
Electrical Equipment
Revenue20–40%MarginsFlatCapexPlannedFundraisingPlannedOrder bookRising

RevenueQ3 FY26 call

20–40%
  • Targeting 30% to 35% year-on-year growth over the next 5 years.
  • Confidence in achieving this growth based on current market conditions and order book.
  • Expanding manufacturing segment (busduct and electrical products) to contribute about 20-25% of revenue within 1-2 years.
  • Order pipeline strong with INR200+ crores in bids and participation lined up; expected order book could be 1.5x to 2x FY '26 by year-end.
  • Growth driven by infrastructure spend in electrification, renewables, metros, airports, and urban development.
  • Focus on scaling through manpower expansion, technology adoption (ERP, AI), and targeting technically complex projects for better margins.

2 more points from Power & Instrumentation (Gujarat) Ltd's call on revenue

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Full Q3 FY26 analysis

MarginsQ3 FY26 call

Flat

See what Power & Instrumentation (Gujarat) Ltd said on margins — free account, 30 seconds.

Full Q3 FY26 analysis

CapexQ3 FY26 call

Planned
  • Specialized machinery for automation in manufacturing has already been planned and ordered, with delivery expected by late March or end of April 2026.
  • Capex executed to scale up busduct manufacturing and related electrical product lines.
  • No immediate plans for large-scale project finance or long-term debt; funding currently via internal accruals and limited project-specific bridging debt if required.
  • Focus on manpower expansion and technology adoption (ERP, project management tools, some AI usage) to support scaling and efficiency improvements.

2 more points from Power & Instrumentation (Gujarat) Ltd's call on capex

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Full Q3 FY26 analysis

FundraisingQ3 FY26 call

Planned

See what Power & Instrumentation (Gujarat) Ltd said on fundraising — free account, 30 seconds.

Full Q3 FY26 analysis

Order bookQ3 FY26 call

Rising
  • Current executable order book stands at approximately INR 450 crores as of February 2026.
  • Entire order book is predominantly government-backed, with only 2-3% from private sector.
  • Bid pipeline comprises about INR 200 crores+ already bid, with another INR 200-250 crores tenders expected in the coming days.
  • Target to close FY '26 with an order book at least 1.5x to 2x the current year's revenue.

2 more points from Power & Instrumentation (Gujarat) Ltd's call on the order book

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Full Q3 FY26 analysis
Full Electrical Equipment ranking

Ranges are what management guided for revenue growth and margins on the latest earnings call. Not investment advice, and not a forecast of returns.

Potential multibaggers · Q2 FY27

Potential multibaggers in Electrical Equipment
on management's own guidance

  1. Strong growth
    2
  2. Strong growth
    1
  3. Strong growth
    3
See all potential multibaggersWhere does Power & Instrumentation (Gujarat) Ltd rank?

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Ranks describe management commentary on revenue and margin from the latest earnings call. Not investment advice.

Peers

Electrical Equipment companies ranked on guidance

#CompanyRevenue guidedMargin guidedMarket capP/E
140%+Up 2%+₹72,673 Cr18.1
240%+Up 2%+₹21,700 Cr158.1
340%+Up 2%+₹491 Cr12.2
440%+Up 0–2%₹12,434 Cr48.4
540%+Up 0–2%₹2,042 Cr35.4
640%+Up 0–2%₹529 Cr7.0

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Pro shows every company guiding 40%+ revenue growth →Full Electrical Equipment ranking

Financials of Power & Instrumentation (Gujarat) Ltd

Quarterly Results, Profit & Loss, Balance Sheet, Cash Flows, and Ratios are shown below as separate sections.

Financials of Power & Instrumentation (Gujarat) Ltd

Quarterly Results

Quarter-by-quarter operating performance

Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025
Sales +10.6944.3921.9524.3314.8236.9225.4754.9333.3755.0941.3067.8744.60
Expenses +8.5243.0419.4021.6213.0033.0322.3549.7129.6949.9537.2761.6339.57
Operating Profit2.171.352.552.711.823.893.125.223.685.144.036.245.03
OPM %20.30%3.04%11.62%11.14%12.28%10.54%12.25%9.50%11.03%9.33%9.76%9.19%11.28%
Other Income +0.040.790.150.190.370.690.530.820.780.300.250.630.18
Interest1.170.501.301.000.981.141.090.780.560.960.730.721.17
Depreciation0.060.070.060.060.050.050.060.060.060.070.050.080.09
Profit before tax0.981.571.341.841.163.392.505.203.844.413.506.073.95
Tax %33.67%21.02%24.63%24.46%29.31%20.94%24.80%25.19%25.26%29.48%26.00%25.37%16.71%
Net Profit +0.651.231.001.390.822.671.873.892.883.112.584.523.28
EPS in Rs0.510.970.791.100.652.111.482.421.791.781.482.541.82

Financials of Power & Instrumentation (Gujarat) Ltd

Profit & Loss

Annual income statement trend

Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025TTM
Sales +6072888985919397169209
Expenses +5566808178848687152188
Operating Profit5678778111720
OPM %9%8%8%10%9%7%8%11%10%10%
Other Income +1100101121
Interest3334333434
Depreciation0000000000
Profit before tax234454581618
Tax %33%33%26%28%26%31%27%24%26%
Net Profit +223333461213
EPS in Rs15.913.824.364.264.913.362.864.666.727.62
Dividend Payout %0%13%0%0%0%0%7%4%3%

Financials of Power & Instrumentation (Gujarat) Ltd

Balance Sheet

Capital structure and asset base

Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Sep 2025
Equity Capital0.985777913131718
Reserves11917192328333993100
Borrowings +18171511222932151822
Other Liabilities +21183420123230424547
Total Liabilities515073576497107107173187
Fixed Assets +1111111111
CWIP0000001111
Investments00000000013
Other Assets +494872566395105106172172
Total Assets515073576497107107173187

Financials of Power & Instrumentation (Gujarat) Ltd

Cash Flows

Operating, investing and financing cash movement

Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Cash from Operating Activity +-1-203-1-318-40
Cash from Investing Activity +-10-0001-4-0-12
Cash from Financing Activity +313-4124-852
Net Cash Flow1-13-11-000-0
Free Cash Flow-2-2-13-1-318-40
CFO/OP-6%-15%14%47%7%-38%12%86%-228%

Financials of Power & Instrumentation (Gujarat) Ltd

Ratios

Working capital efficiency and return ratios

Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Debtor Days10311313398158221151115131
Inventory Days13990101401580161190124
Days Payable11894139844613210715379
Cash Conversion Cycle1241089554127168204152176
Working Capital Days4254575776103114129176
ROCE %20%21%24%18%12%12%17%20%

Continue your research

What Power & Instrumentation (Gujarat) Ltd's management said in earlier quarters

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