Rs 400 crore order book: Multibagger power company bags new order worth Rs 28,41,77,682 from Jharkhand Bijli Vitran Nigam Ltd (JBVNL)

The stock gave multibagger returns of 298.2 per cent from its 52-week low of Rs 36.53 per share.

Power & Instrumentation (Gujarat) Limited has secured a joint venture contract worth Rs 28.41 crore from Jharkhand Bijli Vitran Nigam Limited (JBVNL). The contract, numbered NIT No. 380/PR/JBVNL/2023-24, is for electrifying unserved and partially electrified areas in Sahibganj district, Jharkhand, under the Mukhyamantri Ujjawal Jharkhand Yojana. The project involves two primary components: supplying electrical plant equipment for Rs 22,92,24,127 and installing it for Rs 5,49,53,555.

The contract mandates the electrification of rural habitations with less than and more than 10 households, as well as urban areas. PIGL, in partnership with M/s. Maa Infratech Private Limited, will be responsible for the entire project lifecycle, including transportation, installation, commissioning, and the provision of necessary materials and services. This contract win reinforces PIGL’s position as a major player in the electrical contracting and equipment sector, given its successful completion of similar projects valued at over Rs 100 crores.

Earlier, PIGL secured a Rs 20,93,26,922 contract from Ahmedabad International Airport Ltd., a subsidiary of the Adani Group, to construct a substation for Terminal 2 of Sardar Vallabhbhai International Airport in Ahmedabad. This collaborative project mandates PIGL to design and build the substation by specified requirements within a tight four-month timeframe commencing May 7, 2024. Upon completion, this substation is anticipated to significantly augment the airport's infrastructure and operational efficiency.

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 Tuesday, the shares of the company were locked in a 2 per cent upper circuit to Rs 145.45 per share from its previous closing of Rs 142.60. The stock also made a fresh 52-week high of Rs 145.45 per share. The stock gave multibagger returns of 298.2 per cent from its 52-week low of Rs 36.53 per share. Investors should keep an eye on this micro-cap stock.

Disclaimer: The article is for informational purposes only and not investment advice. 

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