Announcement
Announcement under Regulation 30 (LODR)-Award_of_Order_Receipt_of_Order 19 Sep - Received ₹6.06 crore order from Mahesh Solar Solution for KUSUM-C solar project in Maharashtra.
Source: Bse
Power & Instrumentation (Gujarat) Limited (PIGL)
Small CapPower stocks · Small cap · NSE
Power & Instrumentation (Gujarat) Limited operates in Gas Distribution, within the Power sector. Use the latest filing and company disclosures below to verify its revenue mix and current business drivers.
Data qualityFresh enough for analysisQuote updated 21 Oct, 03:50 pm ISTDetails
Quote21 Oct, 03:50 pm IST
Base fundamentals06 Oct 2026 · screener
Latest result16 Aug, 01:39 am IST
Score21 Oct, 04:30 am IST · v4.3-runtime-valuation
Tags02 May 2026
Coverage13/14 · 93%
Valuation2026-07-20 · Rf 6.8% · Power P/E 16.8 (n=92)
Technical timing lens
Trend score and candlestick chart
26Bearishfull bear SMA stack · SMA20 -4.4% / mo · MACD + · near 52W low
Stock trend: 26
Sector RS: —
Power FPI tailwindNot confirmed
Latest mapped FPI equity flow was not positive. View sector evidence
Technical chart
PIGLD candles · FIT view-17.2%Latest close ₹95.11 on 2026-10-21
Bar
-2.9%
RSI
46
MACD hist
0.22
52W pos
8%
2026-10-21O ₹98.00H ₹99.45L ₹94.25C ₹95.11Vol 57,612 sh
Up bar
Down bar
EMA 20
EMA 50
Volume + 20D avg
Result date
RSI(14)
MACD / signal
Market context
Relative performance and chart statistics
Adjusted completed-session prices, rebased to 100
PIGLNifty PowerNifty 500
- PIGL
- -13.9%
- Nifty 500
- -6.5%
- Nifty Power
- -14.5%
- Vs Nifty 500
- -7.4 pp
Chart stats
21 Oct 2026- From 52W high
- -47.6%
- 52W range position
- 8%
- ATR (14)
- 4.4%
- Volume vs 20D
- 1.34x
- Avg traded value
- ₹0.4 Cr
- 20D price channel
- ₹90.9 - ₹104.5
₹181.4
₹88.1 - ₹181.4
₹4.2
Latest completed session
20-session average
34.5% annualized volatility
Research snapshot
What the evidence says now
Mixed fundamentals, management evidence is still limited to a financial-only Trust Lite signal, price trend argues for patience, and recent execution is consistent.
Suggested next step
Research, do not rush
The evidence is not strongly aligned. Compare peers and wait for a cleaner setup.
U-Score
Legacy · FAIR VALUE49
Fundamental lens: valuation, quality, growth, balance sheet, and cash flow.
Latest result
Average42
Revenue +18.4% · PAT +16.4% YoY
Technical
Bearish26
Price trend and sector-relative-strength timing.
Valuation
Legacy model+46.6%
Legacy margin-of-safety estimate; the revised evidence label remains in shadow validation.
Trust
Limited evidence69
Financial-only signal; management claim evidence is not sufficient yet.
Financials
Fundamentals, quarterly history, margins, returns and balance-sheet evidence
Financials
Fundamentals, quarterly history, margins, returns and balance-sheet evidence
Latest result
Quarter ended 30 Jun 2026
Average · 42/100margin compression · Rev +18% YoY · PAT +16% YoY
Filed 30 Jun 2026
Open results browser →| Metric | This quarter | YoY | QoQ |
|---|---|---|---|
| Revenue | ₹48.9 Cr | +18.4% | -16.4% |
| EBITDA | ₹5 Cr | +24.3% | -21.8% |
| Operating margin | 10.3% | +49 bps | -70 bps |
| PAT | ₹3.1 Cr | +16.4% | -22.4% |
| PAT margin | 6.2% | -10 bps | -47 bps |
NDF means not disclosed in the current structured filing feed. It is intentionally not treated as zero.
Fundamentals
Valuation
- P/E
- 13.70
- P/B
- 1.31
- EV/EBITDA
- 9.32
- Market Cap
- 200.00Cr
Profitability
- ROE
- 10.80%
- ROCE
- 14.50%
- ROA
- 5.75%
- Dividend Y
- —
Growth (CAGR)
- Revenue 5Y
- 9.00%
- EPS 5Y
- 9.00%
- Revenue 3Y
- 32.00%
- EPS 3Y
- 58.00%
Balance Sheet
- Debt/Equity
- 0.22
- Interest Coverage
- 4.80×
- Altman Z
- 3.18
- Book Value
- 72.10
Cash Flow
- FCF Yield
- —
- FCF Positive Y
- 1/5
- OCF
- -5.00 Cr
- EPS TTM
- 7.57
Shareholding
- Promoter Hold
- 50.70%
- Promoter Pledge
- 0.00%
- Momentum 52W
- 7%
Financial History
Updated 21/10/2026
Revenue
₹ CrLatest: 48.9-16.5% vs prev
Net Profit
₹ CrLatest: 3.0-22.4% vs prev
ROE is shown only in the Annual view — quarterly equity data isn't published.
Technicals
Trend interpretation, Stage 2, relative strength, volume and indicator evidence
Technicals
Trend interpretation, Stage 2, relative strength, volume and indicator evidence
Daily technical trend read
Mixed signalsSignals are conflicting — long-term trend down. RSI 46. Wait for confirmation.
- Price < SMA20 < SMA50 < SMA200 — full bearish stack.
- SMA20 falling (~4.6% over last month) — short-term momentum negative.
- RSI(14) at 46 — rising, no extreme reading.
- MACD above signal but histogram contracting — bullish momentum cooling.
- 45% off 52W high · 8% above 52W low.
Mechanical read from the price + indicator series above. Not a recommendation — technical setups can reverse without warning, especially around earnings and macro events.
Nifty 500 leadership
Relative Strength & Trend Stage
22
RS percentile
Stage 4 Downtrend
1M return
-5.9%
3M return
-13.9%
6M return
-17.9%
1Y return
-37.5%
RS 1D
+2
RS 20D
+8
Sector rank
#12
Industry rank
-
Stage evidence
- Price is 10.3% below the 30-week proxy.
- The 50-DMA is below the 30-week proxy and its slope is falling -0.8%.
- Both 3-month and 6-month returns are negative.
50-DMA
price below
200-DMA
price below
Sector
neutral
Industry
unranked
Relative-strength line vs Nifty 500 (base 100)
262 observations
21 Oct 2026Value 57.64-1.39%
RS vs Nifty 50058
Valuation & peers
U-Score 49 · legacy U-Score band FAIR VALUE · valuation evidence and comparable companies
Valuation & peers
U-Score 49 · legacy U-Score band FAIR VALUE · valuation evidence and comparable companies
FAIR_VALUE
Fundamental score breakdown
U band · FAIR VALUEValuation21/30
Growth14/25
Quality2/20
Balance Sheet11/15
Cash Flow0/10
Piotroski
6/9 (+3)
Penalties
-2
Raw sum
49
Why this score?
Top U-Score contributors and drags from the latest stored fundamentals.
49/100 · legacy band FAIR VALUE
Positive drivers
- Fair-value margin of safety is positive at 46.6%.
- Balance sheet contributes 11/15 to the score.
- Valuation contributes 21/30 to the score.
Main drags
- Penalty bucket subtracts 2 points.
- Cash flow is weaker at 0/10; verify the latest quarterly trend.
- Quality is weaker at 2/20; verify the latest quarterly trend.
Sector valuation model
Cyclical valuation: normalized earnings, not just trailing PE
Cyclical companies can look cheapest near peak profits, so IndiaPulse flags value-trap risk separately.
Primary lens
Mid-cycle PE/EV/EBITDA using multi-year average margins or earnings.
Secondary checks
Current margin versus 5-year average, balance sheet strength, commodity cycle.
Main risk check
A low trailing PE may mean peak-cycle earnings, not true cheapness.
PE
13.7
PB
1.3
EV/EBITDA
9.3
ROE
10.8%
ROCE
14.5%
FCF Yield
—
Debt/Equity
0.2
MoS
+46.6%
Cyclical/value-trap warning
This sector can look cheap when profits are temporarily high. Check mid-cycle margins/earnings before relying on trailing PE.
Score movement
Stored run vs live recompute
This shows the stored score trend when snapshots exist, and also compares the latest stored nightly score with a live recompute from current fundamentals and price.
Stored run: 21 Oct 2026
v4.3-runtime-valuation
Final score
49
Previous: 49
Legacy U-Score band
FAIR VALUE
Previous: FAIR VALUE
Margin of safety
+46.6%
Previous: +46.6%
Score history
12 stored score snapshots. Latest stored move: +0 points.
21 Oct 2026
v4.3-runtime-valuation
49
49
49
49
49
49
49
49
49
49
49
49
Factor attribution
No pillar movement versus the latest stored run. Historical score trend will appear after snapshot storage is enabled.
Modelled fair value
Graham Number
₹110.82
+12.2% MoS
Growth-justified P/E
24.1
Growth-justified Value
₹182.44
+46.6% MoS
PEG
0.95
Comparable companies
Peers
Business-comparable peers in Power — ranked by industry, sub-sector, theme-tag overlap, market cap, and U-Score similarity. Green cells mark the best available peer metric in this table.
Ticker
Name
Why peer
Score
PE
ROE
MoS
Verdict
EMPOWER
Small
Empower India Limited
Power Generation
match 97
48
9.7
5.8%
+59%
FAIR VALUE
KREBSBIO
Small
Krebs Biochemicals and Industries Limited
Oil Refining & Marketing
match 96
7
—
—
—
OVERVALUED
GULFPETRO
Small
GP Petroleums Limited
Oil & Gas
match 95
34
7.4
8.4%
-51%
WATCHLIST
ALPHAGEO
Small
Alphageo (India) Limited
Oil & Gas
match 94
23
—
-5.5%
—
OVERVALUED
POSITRON
SME
Positron Energy Ltd.
Oil & Gas
match 93
65
18.6
85.5%
+46%
UNDERVALUED
Business, management & trust
Growth engines, risks, management commitments and evidence-backed delivery
Business, management & trust
Growth engines, risks, management commitments and evidence-backed delivery
Business and thesis
Issuer presentation review pending
Power & Instrumentation (Gujarat) Limited operates in Gas Distribution, within the Power sector. Use the latest filing and company disclosures below to verify its revenue mix and current business drivers. The structured result feed currently covers the quarter ended 30 Jun 2026. Investor presentations and earnings-call PDFs will be added as issuer-backed evidence before management claims appear here.
Trust Score
69Limited evidence · low confidenceTrust Lite
Trust asks: does management behaviour match later outcomes? Higher is better, but confidence and evidence depth matter as much as the number.
Limited evidence: Claim history is still being built. It ranks around the 59th percentile of the scored universe and 71st percentile within Power. Main check: cash conversion is weak at 28/100.
This is a financial-behaviour screen, not a claim-tested management reliability verdict.
Computed 05 Sept 2026
management-trust-v1
37 docs text-extracted · 12 concalls text-extracted
Score band
Limited evidence
Financial behaviour is scored, but management claims do not yet have enough outcome checks.
Relative rank
59th percentile
overall median 67 · Power: 71st pctile, median 65 · Small: 63rd pctile, median 66
Evidence depth
Financial-only
37 documents have extracted text, but claim history is not strong enough yet.
Claim delivery
Outcome history still building
0 claims extracted · No contradicted claim yet
How to read this Trust Score
Limited evidence · low confidenceWhat it measures
Reliability of management and financial delivery, using financial behaviour only.
Confidence
Treat this as an early read until more concalls and outcomes are matched.
Investor use
Acceptable, but check the weakest sub-score before increasing exposure.
Read Trust alongside U-Score, result consistency, and technical trend. A cheap stock with weak Trust needs a larger margin of safety; a high Trust score does not make an expensive stock attractive by itself.
Forensic breakdown
Read low sub-scores as due-diligence warnings, not automatic sell signals.
Promoter
82
strong · holding, pledge, alignment
Cash flow
28
weak · profit to cash conversion
Balance sheet
88
strong · leverage and solvency
Discipline
68
acceptable · capital discipline
Results
95
strong · quarterly consistency
Trust positives
- ▸Promoter pledge is zero.
- ▸Promoter holding increased 4.6%.
- ▸Debt/equity is 0.09.
- ▸4/4 latest quarters had positive YoY revenue growth.
Trust risks
- ▸Operating cash flow is negative at ₹-5 Cr.
- ▸Only 1 years of positive FCF.
Trust Lite uses financial behaviour only. Prefer claim-tested Trust when enough concall claims have later outcomes.
Continue researching Power & Instrumentation (Gujarat) Limited
Important announcements & filings
Latest exchange and company disclosures found within the past two years.
Open source ↗
Announcement
Announcement Under Regulation 30 Of SEBI (LODR), 2015 11 Sep - AAI approved PIGL as specialized agency for power supply works at Hisar Airport Project.
Source: Bse
Announcement
Announcement under Regulation 30 (LODR)-Newspaper Publication 4 Sep - Newspaper Publication for the AGM and E-voting related matters
Source: Bse
Announcement
Announcement under Regulation 30 (LODR)-Newspaper Publication 17 Aug
Source: Bse
Announcement
Announcement under Regulation 30 (LODR)-Award_of_Order_Receipt_of_Order 23 Jun - Received additional AVVNL work order of Rs. 3.72 crore, taking total to Rs. 38.28 crore over 15 months.
Source: Bse
Announcement
Announcement under Regulation 30 (LODR)-Newspaper Publication 1 Jun
Source: Bse
Announcement
Announcement under Regulation 30 (LODR)-Award_of_Order_Receipt_of_Order 28 May - Received Rs. 7.14 crore additional order from Ajmer Vidyut Vitran Nigam, taking total order value to Rs. 75.36 crore.
Source: Bse
Announcement
Announcement under Regulation 30 (LODR)-Resignation of Company Secretary / Compliance Officer 3 Apr - Company Secretary and Compliance Officer Maunish Gandhi resigned effective April 3, 2026.
Source: Bse
Annual report
Annual Report 2026
Source: Bse
Annual report
Annual Report 2026
Source: Bse
Announcement
Statement Of Deviation For The Quarter Ended On 31St March, 2026 2d - Nil deviation report filed; 31,46,000 warrants converted into equity after receiving Rs 26.35 crore.
Source: Bse
Annual report
Annual Report 2025
Source: Bse
All information is for study purposes only. For investment decisions, consult your financial advisor. See Playbook for methodology.