Power and Instrumentation (Gujarat) Ltd secures Rs 68.22 crore order for Rajasthan power project

Power and Instrumentation (Gujarat) Ltd announced it has secured a major order valued at Rs 68.22 crore (Rs 682.2 million) from Ajmer Vidyut Vitran Nigam Limited, a key power distribution utility in Rajasthan. The contract covers the supply, erection, installation, testing, and commissioning of materials and equipment aimed at enhancing the distribution infrastructure under the RDSS scheme. The project involves segregating 11 KV mixed feeders at the Dungarpur Circle of Ajmer Discom on a turnkey basis. This plays a vital role in improving power distribution efficiency and reliability in this region.

 

The order represents approximately 23.5% of the company's current market capitalization of Rs 290 crore, underscoring its significance to the firm’s growth. The project is slated for execution within 15 months, suggesting steady operational work and revenue recognition over the next fiscal period.

 

Power and Instrumentation (Gujarat) operates in electrical contracting and engineering services including electrical, mechanical, and instrumentation segments. Its portfolio spans transformers, power distribution panels, SCADA systems, uninterrupted power supply (UPS), generator sets, and related power distribution solutions catering to diverse sectors. The company’s recent strong consolidated financials included a 40.1% rise in net profit and a 62.2% surge in revenue for Q1 FY26.

 

Following the order announcement, the company’s shares surged 5%, reflecting investor confidence in its capacity to secure and execute large-scale government infrastructure projects. Importantly, the company clarified that neither its promoters nor promoter group had any interest in the awarding authority, affirming regulatory compliance.

 

Notable updates:

This order win not only strengthens Power and Instrumentation’s position in Rajasthan’s power sector but also highlights the growing investments in distribution infrastructure across India, with increasing opportunities for specialized engineering contractors. Investors and industry watchers will monitor the project’s execution closely for operational and financial impact in the coming quarters.

 

Sources: Business Standard, ScanX Trade, Market Screener, India Filings Digest