Saturday, June 22nd, 2024

Power And Instrumentation (Gujarat) Achieves 62 Percent Growth in FY24 Net Profit

Mumbai (Maharashtra) [India], June 10: Power & Instrumentation (Gujarat) Limited, (NSE – PIGL, – 543912) a leading player in the electrical contracting and equipment industry, has announced its Audited Q4 FY24 & FY24 results.

Key Financial Highlights (Consolidated)

FY24

  • Total Income of ₹ 102.03 Cr, YoY growth of 7.09%
  • EBITDA of ₹ 12.36 Cr, YoY growth of 44.53%
  • EBITDA Margin of 12.12%, YoY growth of 314 Bps
  • PAT of ₹ 5.93 Cr, YoY growth of 62.13%
  • PAT(%) of 5.81%, YoY growth of 205 Bps
  • EPS of ₹ 4.70, YoY growth of 65.49%

Q4 FY24

  • Total Income of ₹ 39.91 Cr
  • EBITDA of ₹ 4.59 Cr, YoY growth of 114.25%
  • EBITDA Margin of 11.49%, YoY growth of 678 Bps
  • PAT of ₹ 2.71 Cr, YoY growth of 116.14%
  • PAT (%) of 6.79%, YoY growth of 408 Bps
  • EPS of ₹ 2.15, YoY growth of 121.65%

Commenting on the performance, Mr. Padmaraj Padmnabhan Pillai, Managing Director, Power & Instrumentation (Gujarat) Limited said, “We are pleased to report strong financial performance in FY24, reflecting our market presence and strategic execution. Despite a challenging economic environment, we achieved significant growth in revenue and profitability.

Our comprehensive Electrical, Procurement, and Construction (EPC) solutions have driven our success, with notable expansions in our service portfolio, including energy-efficient power solutions and advanced building management systems. The migration to the main boards of the NSE and BSE in May 2023 has enhanced our market visibility and credibility.

FY24 saw substantial improvements in our financial metrics, with impressive year-over-year growth in both EBITDA and Net Profit. This performance underscores our commitment to operational efficiency and cost management. The fourth quarter was particularly strong, demonstrating our ability to adapt and thrive in a competitive landscape.

Additionally, we are pleased to announce a final dividend of ₹ 0.20 per equity share, reflecting our commitment to delivering value to our shareholders.

As we look ahead, PIGL remains dedicated to innovation, excellence, and sustainability. We thank our dedicated team, valued clients, and stakeholders for their continued support and trust in our vision.”

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