Integrated Filing — IndAS



General information about company

Scrip Code 543912
NSE Symbol PIGL
MSEI Symbol NOTLISTED
ISIN INE557Z01018
Name of company Power & Instrumentation (Gujarat) Limited
Type of company Main Board
Class of security Equity
Date of start of financial year 01-04-2025
Date of end of financial year 31-03-2026
Date of board meeting when results were approved 14-11-2025
Date on which prior intimation of the meeting for considering financial results was informed to the exchange 10-11-2025
Description of presentation currency INR
Level of rounding used in financial results Lakhs
Reporting Type Quarterly
Reporting Quarter Second quarter
Nature of report standalone or consolidated Consolidated
Whether results are audited or unaudited for the quarter ended Unaudited
Whether results are audited or unaudited for the Year to date for current period ended/year ended Unaudited
Segment Reporting Single segment
Description of single segment Electrical Contracting
Start date and time of board meeting 14-11-2025   17:45:00
End date and time of board meeting 14-11-2025   19:15:00
Whether cash flow statement is applicable on company Yes
Type of cash flow statement Cash Flow Indirect
Declaration of unmodified opinion or statement on impact of audit qualification Not applicable



Financial Results Ind-AS

Amount in (Lakhs)

Particulars 3 months/ 6 months ended (dd-mm-yyyy) Year to date figures for current period ended (dd-mm-yyyy)
A Date of start of reporting period 01-07-2025 01-04-2025
B Date of end of reporting period 30-09-2025 30-09-2025
C Whether results are audited or unaudited Unaudited Unaudited
D Nature of report standalone or consolidated Consolidated Consolidated
1 Income
Revenue from operations 7,027.24 11,157.69
Other income 63.62 88.61
Total income 7,090.86 11,246.30
2 Expenses
(a) Cost of materials consumed 0.00 0.00
(b) Purchases of stock-in-trade 6,571.33 10,268.58
(c) Changes in inventories of finished goods, work-in-progress and stock-in-trade (336.79) (541.79)
(d) Employee benefit expense 112.57 219.16
(e) Finance costs 79.57 152.99
(f) Depreciation, depletion and amortisation expense 10.58 15.89
(f) Other Expenses
1 Other Expenses 19.71 147.96
Total other expenses 19.71 147.96
Total expenses 6,456.97 10,262.79
3 Total profit before exceptional items and tax 633.89 983.51
4 Exceptional items 0.00 0.00
5 Total profit before tax 633.89 983.51
6 Tax expense
7 Current tax 145.83 235.21
8 Deferred tax 13.90 15.88
9 Total tax expenses 159.73 251.09
10 Net movement in regulatory deferral account balances related to profit or loss and the related deferred tax movement 0.00 0.00
11 Net Profit Loss for the period from continuing operations 474.16 732.42
12 Profit (loss) from discontinued operations before tax 0.00 0.00
13 Tax expense of discontinued operations 0.00 0.00
14 Net profit (loss) from discontinued operation after tax 0.00 0.00
15 Share of profit (loss) of associates and joint ventures accounted for using equity method (2.71) 0.75
16 Total profit (loss) for period 471.45 733.17
17 Other comprehensive income net of taxes 0.00 0.00
18 Total Comprehensive Income for the period 471.45 733.17
19 Total profit or loss, attributable to
Profit or loss, attributable to owners of parent 0.00 0.00
Total profit or loss, attributable to non-controlling interests 0.00 0.00
20 Total Comprehensive income for the period attributable to
Comprehensive income for the period attributable to owners of parent 11.25 11.25
Total comprehensive income for the period attributable to owners of parent non-controlling interests 10.79 10.79
21 Details of equity share capital
Paid-up equity share capital 1,777.29 1,777.29
Face value of equity share capital 10 10
27 Details of debt securities
22 Reserves excluding revaluation reserve
23 Earnings per share
i Earnings per equity share for continuing operations
Basic earnings (loss) per share from continuing operations 2.66 4.83
Diluted earnings (loss) per share from continuing operations 2.66 4.83
ii Earnings per equity share for discontinued operations
Basic earnings (loss) per share from discontinued operations 0 0
Diluted earnings (loss) per share from discontinued operations 0 0
ii Earnings per equity share
Basic earnings (loss) per share from continuing and discontinued operations 2.66 4.83
Diluted earnings (loss) per share from continuing and discontinued operations 2.66 4.83
24 Debt equity ratio
25 Debt service coverage ratio
26 Interest service coverage ratio
27 Disclosure of notes on financial results Textual Information(1)



Disclosure of notes on financial results

Textual Information(1) 1.The above standalone financial results have been prepared in accordance with Indian Accouting Standards (Ind AS) notified under section 133 of the Companies Act, 2013, read with Companies (Indian Accouting Standards) Rules, 2015 2.As the IND AS has been implemented for the first time, it’s crucial to acknowledge the role of management judgement and assumptions in this transition. The initial assumption and calculation has always an opportunity to enhance the understanding of the business case assumptions, refine the calculations and gradually improve the accuracy of presentation. 3.The Company operates in one segment namely Electrical Contracting and therefore segment reporting as required under IndAS-108 is not applicable. 4.Figures of previous year/ period have been regrouped/ recast wherever necessary, in order to make them comparable. 5.During the quarter ended September 30 2025 the Company completed the step-wise acquisition of Peaton Electrical Company Limited (PECL) resulting in obtaining control and making it a subsidiary of the Company. The Company previously held 15.24 % equity shareholding in PECL. During the current quarter, the Company acquired an additional 35.82 % equity stake for a cash consideration of rS. 12.54 crore increasing its total shareholding to 51.06 % and thereby acquiring control with effect from September 11 2025. This acquisition has been disclosed by the Company to the stock exchanges under Regulation 30 of SEBI LODR. The acquisition has been accounted for in accordance with Ind AS 103 Business Combinations. The consolidated financial results for the quarter include the financial performance of PECL from the effective date of acquisition. Prior period figures are not comparable due to the impact of consolidation commencing during the current period. 6.The above results have been reviewed by audit committee and approved by Board of Directors of Company at its meeting held on 14th November, 2025.



Remarks

Debt equity ratio
Debt service coverage ratio
Interest service coverage ratio


Statement of Asset and Liabilities

Amount in (Lakhs)

Particulars Year ended (dd-mm-yyyy)
Date of start of reporting period 01-04-2025
Date of end of reporting period 30-09-2025
Whether results are audited or unaudited Unaudited
Nature of report standalone or consolidated Consolidated
Assets
1 Non-current assets
Property, plant and equipment 1,201.20
Capital work-in-progress 243.38
Investment property 0.00
Goodwill 3,088.11
Other intangible assets 0.60
Intangible assets under development 134.91
Biological assets other than bearer plants 0.00
Investments accounted for using equity method 0.00
Non-current financial assets
Non-current investments 1,724.04
Trade receivables, non-current 0.00
Loans, non-current 0.00
Other non-current financial assets 2,377.64
Total non-current financial assets 4,101.68
Deferred tax assets (net) 25.87
Other non-current assets 60.21
Total non-current assets 8,855.96
2 Current assets
Inventories 7,113.49
Current financial asset
Current investments 0.00
Trade receivables, current 5,693.60
Cash and cash equivalents 116.62
Bank balance other than cash and cash equivalents 0.00
Loans, current 0.00
Other current financial assets 46.17
Total current financial assets 5,856.39
Current tax assets (net) 0.00
Other current assets 1,038.79
Total current assets 14,008.67
3 Non-current assets classified as held for sale 0.00
4 Regulatory deferral account debit balances and related deferred tax Assets 0.00
Total assets 22,864.63
Equity and liabilities
1 Equity
Equity attributable to owners of parent
Equity share capital 1,777.29
Other equity 10,710.45
Total equity attributable to owners of parent 12,487.74
Non controlling interest 1,713.37
Total equity 14,201.11
2 Liabilities
Non-current liabilities
Non-current financial liabilities
Borrowings, non-current 960.17
Trade payables, non-current
(A) Total outstanding dues of micro enterprises and small enterprises 0.00
(B) Total outstanding dues of creditors other than micro enterprises and small enterprises 0.00
Total Trade payable 0.00
Other non-current financial liabilities 32.71
Total non-current financial liabilities 992.88
Provisions, non-current 45.85
Deferred tax liabilities (net) 91.45
Deferred government grants, Non-current 0.00
Other non-current liabilities 1.49
Total non-current liabilities 1,131.67
Current liabilities
Current financial liabilities
Borrowings, current 2,021.32
Trade payables, current
(A) Total outstanding dues of micro enterprises and small enterprises 0.00
(B) Total outstanding dues of creditors other than micro enterprises and small enterprises 3,590.08
Total Trade payable 3,590.08
Other current financial liabilities 54.61
Total current financial liabilities 5,666.01
Other current liabilities 1,413.71
Provisions, current 31.52
Current tax liabilities (Net) 420.61
Deferred government grants, Current 0.00
Total current liabilities 7,531.85
3 Liabilities directly associated with assets in disposal group classified as held for sale 0.00
4 Regulatory deferral account credit balances and related deferred tax liability 0.00
Total liabilities 8,663.52
Total equity and liabilites 22,864.63
Disclosure of notes on assets and liabilities



Format for Reporting Segment wise Revenue, Results and Capital Employed along with the company results

Amount in (Lakhs)

Particulars 3 months/ 6 month ended (dd-mm-yyyy) Year to date figures for current period ended (dd-mm-yyyy)
Date of start of reporting period 01-07-2025 01-04-2025
Date of end of reporting period 30-09-2025 30-09-2025
Whether results are audited or unaudited Unaudited Unaudited
Nature of report standalone or consolidated Consolidated Consolidated
1 Segment Revenue (Income)
(net sale/income from each segment should be disclosed)
Total Segment Revenue
Less: Inter segment revenue
Revenue from operations
2 Segment Result
Profit (+) / Loss (-) before tax and interest from each segment
Total Profit before tax
i. Finance cost
ii. Other Unallocable Expenditure net off Unallocable income
Profit before tax
3 (Segment Asset - Segment Liabilities)
Segment Asset
Total Segment Asset
Un-allocable Assets null null
Net Segment Asset null null
4 Segment Liabilities
Segment Liabilities
Total Segment Liabilities
Un-allocable Liabilities null null
Net Segment Liabilities null null
Disclosure of notes on segments



Other Comprehensive Income

Amount in (Lakhs)

Particulars 3 months/ 6 months ended (dd-mm-yyyy) Year to date figures for current period ended (dd-mm-yyyy)
A Date of start of reporting period 01-07-2025 01-04-2025
B Date of end of reporting period 30-09-2025 30-09-2025
C Whether results are audited or unaudited Unaudited Unaudited
D Nature of report standalone or consolidated Consolidated Consolidated
Other comprehensive income [Abstract]
1 Amount of items that will not be reclassified to profit and loss
Total Amount of items that will not be reclassified to profit and loss
2 Income tax relating to items that will not be reclassified to profit or loss
3 Amount of items that will be reclassified to profit and loss
Total Amount of items that will be reclassified to profit and loss
4 Income tax relating to items that will be reclassified to profit or loss
5 Total Other comprehensive income



Cash flow statement, indirect

Amount in (Lakhs)

Particulars Year ended (dd-mm-yyyy)
A Date of start of reporting period 01-04-2025
B Date of end of reporting period 30-09-2025
C Whether results are audited or unaudited Unaudited
D Nature of report standalone or consolidated Consolidated
Statement of cash flows
Cash flows from used in operating activities
Profit before tax 983.51
Adjustments for reconcile profit (loss)
Adjustments for finance costs 145.61
Adjustments for decrease (increase) in inventories (541.79)
Adjustments for decrease (increase) in trade receivables, current 268.07
Adjustments for decrease (increase) in trade receivables, non-current 0.00
Adjustments for decrease (increase) in other current assets 817.70
Adjustments for decrease (increase) in other non-current assets 0.00
Adjustments for other financial assets, non-current 0.00
Adjustments for other financial assets, current 354.90
Adjustments for other bank balances 0.00
Adjustments for increase (decrease) in trade payables, current (636.82)
Adjustments for increase (decrease) in trade payables, non-current 0.00
Adjustments for increase (decrease) in other current liabilities 446.52
Adjustments for increase (decrease) in other non-current liabilities 0.00
Adjustments for depreciation and amortisation expense 17.08
Adjustments for impairment loss reversal of impairment loss recognised in profit or loss 0.00
Adjustments for provisions, current (186.18)
Adjustments for provisions, non-current 0.00
Adjustments for other financial liabilities, current (13.97)
Adjustments for other financial liabilities, non-current 0.00
Adjustments for unrealised foreign exchange losses gains 0.00
Adjustments for dividend income 0.00
Adjustments for interest income 29.59
Adjustments for share-based payments 0.00
Adjustments for fair value losses (gains) 0.00
Adjustments for undistributed profits of associates 0.00
Other adjustments for which cash effects are investing or financing cash flow 0.00
Other adjustments to reconcile profit (loss) 0.00
Other adjustments for non-cash items (2.45)
Share of profit and loss from partnership firm or association of persons or limited liability partnerships 0.00
Total adjustments for reconcile profit (loss) 639.08
Net cash flows from (used in) operations 1,622.59
Dividends received 0.00
Interest paid 0.00
Interest received 0.00
Income taxes paid (refund) 32.00
Other inflows (outflows) of cash 0.00
Net cash flows from (used in) operating activities 1,590.59
Cash flows from used in investing activities
Cash flows from losing control of subsidiaries or other businesses 0.00
Cash flows used in obtaining control of subsidiaries or other businesses 0.00
Other cash receipts from sales of equity or debt instruments of other entities 0.00
Other cash payments to acquire equity or debt instruments of other entities 0.00
Other cash receipts from sales of interests in joint ventures 0.00
Other cash payments to acquire interests in joint ventures 0.00
Cash receipts from share of profits of partnership firm or association of persons or limited liability partnerships 0.00
Cash payment for investment in partnership firm or association of persons or limited liability partnerships 0.00
Proceeds from sales of property, plant and equipment 3.43
Purchase of property, plant and equipment 41.12
Proceeds from sales of investment property 0.00
Purchase of investment property 1,254.11
Proceeds from sales of intangible assets 0.00
Purchase of intangible assets 0.00
Proceeds from sales of intangible assets under development 0.00
Purchase of intangible assets under development 0.00
Proceeds from sales of goodwill 0.00
Purchase of goodwill 0.00
Proceeds from biological assets other than bearer plants 0.00
Purchase of biological assets other than bearer plants 0.00
Proceeds from government grants 0.00
Proceeds from sales of other long-term assets 0.00
Purchase of other long-term assets 0.00
Cash advances and loans made to other parties 0.00
Cash receipts from repayment of advances and loans made to other parties 0.00
Cash payments for future contracts, forward contracts, option contracts and swap contracts 0.00
Cash receipts from future contracts, forward contracts, option contracts and swap contracts 0.00
Dividends received 0.00
Interest received 29.54
Income taxes paid (refund) 0.00
Other inflows (outflows) of cash (424.05)
Net cash flows from (used in) investing activities (1,686.31)
Cash flows from used in financing activities
Proceeds from changes in ownership interests in subsidiaries 0.00
Payments from changes in ownership interests in subsidiaries 0.00
Proceeds from issuing shares 182.16
Proceeds from issuing other equity instruments 0.00
Payments to acquire or redeem entity's shares 0.00
Payments of other equity instruments 0.00
Proceeds from exercise of stock options 0.00
Proceeds from issuing debentures notes bonds etc 0.00
Proceeds from borrowings 425.40
Repayments of borrowings 327.95
Payments of lease liabilities 0.00
Dividends paid 0.00
Interest paid 145.61
Income taxes paid (refund) 0.00
Other inflows (outflows) of cash 0.00
Net cash flows from (used in) financing activities 134.00
Net increase (decrease) in cash and cash equivalents before effect of exchange rate changes 38.28
Effect of exchange rate changes on cash and cash equivalents
Effect of exchange rate changes on cash and cash equivalents 0.00
Net increase (decrease) in cash and cash equivalents 38.28
Cash and cash equivalents cash flow statement at beginning of period 78.15
Cash and cash equivalents cash flow statement at end of period 116.43