Rs 400 Crore Order Book: Multibagger Electrical Equipment Company Is Appointed As Specialized Agency By The Airports Authority Of India
The stock gave multibagger returns of 329.4 per cent from its 52-week low of Rs 38.96 per share.
Power & Instrumentation (Gujarat) Limited, (NSE – PIGL, BSE – 543912) one of the leading players in the electrical contracting and equipment industry, has been appointed by the Airports Authority of India (AAI) as the specialized agency responsible for the power supply system of the new Integrated Passenger Terminal Building at Maharana Pratap Airport, Udaipur. This appointment is part of a broader contract awarded to Nyati Engineers & Consultants Private Limited, the main contractor for the airport's modernization project.
Under the terms of the contract, PIGL will be responsible for designing, implementing, and commissioning the entire power supply system for the state-of-the-art terminal. This encompasses power distribution, installation of electrical substations, energy management systems, and ensuring full compliance with safety and regulatory standards.
he expanded terminal will cover 5,92,187 square feet, increasing capacity from 680 to 2,050 passengers, with enhanced facilities such as 4 aerobridges, 42 check-in counters, and 10 security lanes. PIGL, as the specialized agency, will ensure the terminal has a reliable and efficient power supply system, critical to supporting its advanced infrastructure and seamless operations. This achievement marks a significant milestone in PIGL's growing portfolio of airport electrical infrastructure projects. With a proven track record in the power sector and advanced technical expertise, PIGL is well equipped to address the complex requirements of the airport modernization initiative.
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Earlier, the company secured a joint venture contract worth Rs 28.41 crore from Jharkhand Bijli Vitran Nigam Limited. This contract, part of the Mukhyamantri Ujjawal Jharkhand Yojana, entails electrifying unserved and partially electrified areas in Sahibganj district, Jharkhand. PIGL, in partnership with Maa Infratech Private Limited, will be responsible for supplying electrical plant equipment, installation, commissioning, and other related services. This contract win underscores PIGL's expertise in the electrical contracting and equipment sector, following the successful completion of similar projects worth over Rs 100 crores. Additionally, PIGL has recently secured a contract from Ahmedabad International Airport Ltd. to construct a substation for Terminal 2, demonstrating its capabilities in high-priority infrastructure projects.
Power & Instrumentation (Gujarat) Ltd, founded in 1975, is a one-stop shop for all your electrical needs. They specialize in designing, installing, maintaining, and repairing electrical systems for industrial and commercial clients. Their services include substations, transformers, generators, power distribution panels, lighting systems, and backup power solutions. They've worked with a wide range of clients in sectors like government, healthcare, telecom, and major corporations. As of June 30, 2024, the company’s order book stands at Rs 400 crore.
On Thursday, the shares of the company were locked in a 2 per cent upper circuit to Rs 167.30 per share from its previous closing of Rs 164.05. The stock’s 52-week high is Rs 191.55 and its 52-week low is Rs 38.96. The stock gave multibagger returns of 329.4 per cent from its 52-week low of Rs 38.96 per share. Investors should keep an eye on this micro-cap stock.
Disclaimer: The article is for informational purposes only and not investment advice.