Stock Report

Power & Instrumentation Gujarat Ltd bags ₹17.07 Cr Order for 5MW Solar EPC Project

Posted On : 2025-01-17 21:38:45( TIMEZONE : IST )

Power & Instrumentation (Gujarat) Limited, (NSE - PIGL, BSE - 543912), one of the leading playersin the electrical contracting and equipment industry, has been awarded a significant work order worth ₹17.07 Cr from A2 Green Energy Private Limited (formerly known as Hydel Consultants Private Limited).

The contract involves the Supply, Installation, Testing, and Commissioning of Plant and Equipment at site complete in all respects for a 5 MW (AC) Solar Power Project in Latur District, Maharashtra. The scope of this project encompasses delivering the required solar power infrastructure, ensuring all equipment is operational, and completing the project to the highest standards. The expected project duration is 18 months from the effective date of commencement.

This work order highlights Power & Instrumentation (Gujarat) Limited's growing role in India's renewable energy sector, aligning with the country's vision of sustainable and clean energy. The company has consistently showcased its capabilities by executing projects of similar scale and complexity.

This development is expected to further strengthen the company's portfolio in renewable energy and drive its growth in the dynamic solar energy market.

Commenting on the update, Mr. Padmaraj Padmnabhan Pillai, Managing Director of Power & Instrumentation (Gujarat) Limited said, "We are delighted to have been entrusted with the responsibility of executing this 5 MW solar power project in Maharashtra. This marks a significant milestone for us as we venture into Solar EPC projects for the first time, reflecting our expertise and commitment to delivering high-quality solutions in the renewable energy space.

As India continues to advance its clean energy agenda, we are excited to play a pivotal role in supporting these initiatives. Entering the Solar EPC domain opens new opportunities for us, and we are eager to expand our presence in this growing sector.

Looking ahead, we aim to undertake more renewable energy projects of this nature while focusing on strengthening our execution capabilities for large-scale initiatives. Our commitment remains unwavering in ensuring timely, efficient, and high-quality project delivery that exceeds client expectations."

Shares of Power & Instrumentation (Gujarat) Limited was last trading in BSE at Rs. 365.25 as compared to the previous close of Rs. 358.10. The total number of shares traded during the day was 12512 in over 61 trades.

The stock hit an intraday high of Rs. 365.25 and intraday low of 350.95. The net turnover during the day was Rs. 4407000.00.