Power & Instrumentation (Gujarat) Limited Allots 1.73 Lakh Equity Shares Through Warrant Conversion

Power & Instrumentation (Gujarat) Limited announced the successful allotment of equity shares through warrant conversion following a board meeting held on March 03, 2026. The board meeting, which commenced at 04:00 P.M. and concluded at 05:30 P.M. at the company's registered office in Ahmedabad, Gujarat, approved significant capital structure changes. Warrant Conversion Details The board approved the allotment of 1,73,530 equity shares of Rs. 10 each at a premium of Rs. 73.75 per equity share. This allotment resulted from the conversion of an equal number of convertible warrants that were originally part of a larger issuance. Parameter: Details Shares Allotted: 1,73,530 equity shares Face Value: Rs. 10 per share Premium: Rs. 73.75 per share Total Price: Rs. 83.75 per share Allotment Basis: Preferential to Non-promoters Original Warrant Issuance The converted warrants were part of a substantial issuance of 50,96,000 convertible warrants that were issued and allotted on September 21, 2024. The conversion was executed under the terms of SEBI (Issue of Capital & Disclosures Requirement) Regulation, 2018, ensuring compliance with regulatory requirements for preferential allotments to non-promoter entities. Impact on Share Capital The warrant conversion has resulted in a measurable increase in the company's paid-up equity capital structure. The capital expansion reflects the company's ongoing efforts to strengthen its financial position through equity participation. Capital Structure: Before Allotment After Allotment Paid-up Capital: Rs. 19,31,29,000 Rs. 19,48,64,300 Number of Shares: 1,93,12,900 1,94,86,430 Face Value per Share: Rs. 10 Rs. 10 Regulatory Compliance The allotment was conducted in accordance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The company has informed both the National Stock Exchange of India Limited and BSE Limited about this corporate action, ensuring transparency and regulatory compliance. The decision was formally communicated by Managing Director Padmaraj P. Pillai, who signed the disclosure document on behalf of the company. Power & Instrumentation (Gujarat) Limited demonstrated strong operational performance in Q3 FY26, delivering significant growth across key financial metrics while securing substantial new orders and achieving important product approvals. Financial Performance Highlights The company reported robust financial results for Q3 FY26, with consolidated total income reaching INR48.89 crores, marking a year-on-year growth of 43.18%. This strong revenue performance was supported by disciplined execution and operational efficiency across projects. Financial Metric Q3 FY26 Growth (YoY) Margin Total Income INR48.89 crores +43.18% - EBITDA INR6.16 crores +37.83% 12.6% Net Profit INR3.57 crores +11.96% 7.31% EPS INR1.69 - - For the nine months ended FY26, the company maintained strong momentum with total income of INR161.35 crores, representing a year-on-year growth of 39.23%. EBITDA for the period stood at INR17.68 crores, reflecting growth of 24.86% with an EBITDA margin of 10.96%. Nine Months Performance FY26 (9M) Growth (YoY) Margin Total Income INR161.35 crores +39.23% - EBITDA INR17.68 crores +24.86% 10.96% Net Profit INR10.91 crores +21.85% 6.76% EPS INR5.55 - - Order Book and New Contract Wins During Q3 FY26, Power & Instrumentation secured significant contracts aggregating INR124.17 crores, strengthening its order book position. The major contract win included a INR102.78 crores turnkey project from Ajmer Vidyut Vitran Nigam Limited across 9 circles in Rajasthan under the RDSS framework, scheduled for execution within 15 months. Contract Details Value Client Timeline RDSS Turnkey Project INR102.78 crores Ajmer Vidyut Vitran Nigam Limited 15 months Industrial Project INR21.39 crores ATS Techno Limited - Total New Orders INR124.17 crores - - The company currently maintains an order book of approximately INR450 crores, with 60-65% coming from the RDSS and distribution segment, while the remaining 30-35% originates from infrastructure projects including airports and industrial facilities. Product Development and Manufacturing Expansion A significant milestone was achieved during the quarter with CPRI approval for the company's 11 kV 3,000 ampere segregated phase busduct system, branded as Phibar, through subsidiary Peaton Electrical Company Limited. This product line is designed for high-load, high-reliability environments including data centers, airports, metros, and renewable energy installations. The Phibar platform offers several advantages: Compact space-saving design Efficient heat dissipation capabilities Lower voltage loss Quick installation and scalability Safe standardized certified components The company expects the manufacturing division to contribute approximately 20-30% of current top line in FY27, with plans for full-scale production beginning around May 2026. Strategic Outlook and Growth Drivers Management outlined a five-year growth strategy targeting 30-35% year-on-year growth, supported by strong structural opportunities in India's power and infrastructure sector. The company is well-positioned to benefit from India's ambitious target of achieving 500 gigawatts of renewable energy capacity by 2030 and peak power demand projected to cross 800 gigawatts. Key growth drivers include: Revamped Distribution Sector Scheme with INR3 lakh crores outlay Plans for 50 new airports over the next 5 years Over 1,000 kilometers of approved metro rail projects Continued capex push in transmission expansion The company maintains a working capital cycle of 95-100 days and plans to fund expansion through internal accruals, with project-specific debt financing if required. Management expects to maintain EBITDA margins between 12-15% going forward while targeting PAT margins of 9-10% in the medium term. We’re building Scanx - to help you express your trading & investing idea, to help you analyse the markets better. Stock Markets are the true indicator of the growth of any country's economy. We are bullish on India, we are bullish on India's prospects to be one of largest economies of the world. We believe that Stock Markets provide an unique opportunity for all Indians to participate in the growth story of India. We are enabling the same for Indians. 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