The shares of this micro-cap electrical company rose 2% upper circuit in Wednesday trading session after it was appointed as the specialised agency responsible for the power supply system by the Airports Authority of India.
Share price variations:
With a market capitalization of Rs. 211.00 crores, the shares of Power & Instrumentation (Gujarat) Ltd opened the trading session at Rs. 167.25 about 1.95% above the previous day’s close of Rs. 164.05, and went up to close at an intraday high of Rs. 168.30 touching the 2% upper circuit limit.
Reason for Rise:
As per the exchange filings Power & Instrumentation (Gujarat) Ltd, The company has been appointed by the Airports Authority of India (AAI) as the specialised agency responsible for the power supply system of the new Integrated Passenger Terminal Building at Maharana Pratap Airport, Udaipur
As per the contract, the company will be responsible for designing, implementing, and commissioning the entire power supply system for the terminal covering an area of 5,92,187 square feet.
Financial Performance:
For Q1FY25 the company reported a net profit increase of 87% to Rs. 1.87 crores compared to net profit of Rs. 1.00 crores in Q1FY24, while revenue from operations increased by 16% to Rs. 25.47 crores from Rs. 21.95 crores in comparison to the same period. Company has a ROE of 8.84% and ROCE of 11.58% in FY24.
The company has given a multibagger returns of 175.68% to its investors in just 6 months and a return of about 206.56% on a year to date basis.
Recent Contracts:
In August, the company secured a contract worth ₹28.41 crores from Jharkhand Bijli Vitran Nigam Limited (JBVNL) for electrification projects in Jharkhand under the Mukhyamantri Ujjawal Jharkhand Yojana. Additionally, the company acquired a controlling stake in Peaton Electrical Company Limited, a manufacturer specialising in electrical panels, compact substations, and bus trunking systems.
Earlier, in May, the company received a contract from Ahmedabad International Airport Ltd (part of the Adani Group) for the development of a substation for Terminal 2 at Sardar Vallabhbhai International Airport, valued at ₹20.23 crores.
About the company:
Power & Instrumentation (Gujarat) Ltd, founded in 1975,is a prominent player in the electrical contracting and equipment industry. The company engages in electrical work, including installations, maintenance, repairs, and the sale of electrical equipment and extends to the design, installation, and maintenance of energy -efficient power and distribution transformers, generators, load banks, compressors, and more.
Written By : Joseph Pv
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