Stock Report

Power & Instrumentation Gujarat Ltd received commendation from NFC for their Outstanding Performance

Posted On : 2024-10-07 22:56:14( TIMEZONE : IST )

Power & Instrumentation (Gujarat) Limited, (NSE - PIGL, BSE - 543912), one of the leading players in the electrical contracting and equipment industry, is pleased to announce the successful completion of a key project for the Government of India's Department of Atomic Energy, Nuclear Fuel Complex (NFC), Kota.

The project, valued at ₹ 10.18 Cr with an actual execution value of ₹ 10.80 Cr, involved the designing, engineering, supplying, installation, testing, and commissioning of high-voltage Diesel Generator (DG) sets, AMF & Synchronizing Panels, and Switchboards, among other critical electrical systems.

The Nuclear Fuel Complex commended PIGL for its excellent performance in key areas, including quality of work, technical expertise, resourcefulness, and financial soundness. NFC also recognized PIGL's capability to meet the technical demands of this critical project, ensuring uninterrupted power supply to the nuclear facility while adhering strictly to safety standards.

This project held strategic importance, as the Nuclear Fuel Complex plays a key role in fuelling India's nuclear reactors. The systems installed by PIGL are critical to ensuring the safety and seamless operation of the NFC. PIGL's high-voltage DG sets and power systems guarantee the facility's continuous operation, even during power outages.

Given the complexity of the project and its direct impact on the functioning of a nuclear plant, the work required the highest standards of precision and expertise. PIGL met these demands effectively, showcasing its capability to successfully deliver large-scale, high-stakes projects for critical government sectors.

Commenting on the achievement, Mr. Padmaraj Padmnabhan Pillai, Managing Director, Power & Instrumentation (Gujarat) Limited said, "We are proud to have successfully completed such a critical and high-stakes project for the Nuclear Fuel Complex. This project is of great strategic importance to the country and we are very happy to deliver complex solutions in sectors where precision and reliability are paramount.

Our team's performance in meeting the technical challenges of this project reflects ours growing execution capabilities in handling large-scale, government contracts with stringent safety and quality standards.

The positive feedback from NFC, especially their acknowledgment of our technical proficiency, quality of work, and resourcefulness, highlights our ongoing commitment to delivering high-quality solutions. This recognition further supports our position as a reliable partner in the electrical contracting and equipment industry."

Shares of Power & Instrumentation (Gujarat) Limited was last trading in BSE at Rs. 217.65 as compared to the previous close of Rs. 207.30. The total number of shares traded during the day was 65445 in over 188 trades.

The stock hit an intraday high of Rs. 217.65 and intraday low of 212.85. The net turnover during the day was Rs. 14212002.00.