Power & Instrumentation (Gujarat) Limited announced the allotment of 6,12,000 equity shares following the conversion of warrants on February 12, 2026. The board approved the conversion of 6,12,000 convertible warrants into an equal number of equity shares at a price of Rs. 83.75 per share, including a premium of Rs. 73.75. This allotment, made on a preferential basis to the promoter group, increased the company’s paid-up equity capital to Rs. 19.31 Crores. The move follows the initial issuance of 50,96,000 convertible warrants in September 2024.

The board meeting, held at the company’s registered office in Ahmedabad, concluded within 50 minutes after approving the capital expansion. This conversion is part of a larger fund-raising strategy aimed at strengthening the company’s financial position for upcoming projects. In August 2025, the company had outlined plans to raise approximately Rs. 71.48 Crores through preferential issues to support its growth initiatives. These initiatives include the strategic acquisition of a controlling stake in Peaton Electrical Company to broaden its product portfolio.

Incorporated in 1975, Power & Instrumentation (Gujarat) Ltd specializes in turnkey electrical engineering, focusing on substations, transmission, and distribution projects across India. In 2025, the company secured major infrastructure contracts, including a Rs. 68.22 Crore order from Ajmer Vidyut Vitran Nigam Limited (AVVNL) for distribution strengthening in Rajasthan. Additionally, it received a Rs. 20.93 Crore letter of award for developing a substation at Terminal 2 of the Ahmedabad Airport. The company’s unexecuted order book reached approximately Rs. 400 Crores by mid-2025, providing strong revenue visibility for the next 15 months.

For the quarter ended September 30, 2025, the company reported a total revenue of Rs. 70.91 Crores, reflecting a significant 70.66% growth over the previous quarter’s revenue of Rs. 41.55 Crores. Net profit for the same period stood at Rs. 4.71 Crores, an increase of 79.77% compared to Rs. 2.62 Crores in the preceding quarter. Promoters recently increased their stake to 48.23% by February 2026, signaling confidence in the company’s long-term trajectory. While the company primarily has retail and promoter ownership, its consistent performance and dividend payments of Rs. 0.20 per share in 2025 continue to attract mid-range investors.