Ahmedabad (Gujarat) [India], September 12: Power & Instrumentation (Gujarat) Limited (PIGL) (NSE: PIGL, BSE: 543912), one of the leading players in the electrical contracting and equipment sector, has agreed to acquire an additional 35.82% stake in Peaton Electrical Company Limited (PECL). This strategic acquisition will bring PIGL’s total shareholding to 51.06%, making PECL a subsidiary. Prior to this transaction, PIGL already held a 15.23% stake in PECL.

About Peaton Electrical Company Limited

• PECL specialises in manufacturing electrical materials such as unitised substations, M.V. panels, L.V. panels, bus trunking systems and compact substations
• The company’s product portfolio also includes auto-synchronising panels, APFCR panels, distribution boards, and M.V. panels up to 33 KV
• PECL operates in the electrical equipment manufacturing industry, with a focus on LT panels, bus trunking systems, compact substations, and other electrical materials
• PECL has supplied products to major public sector undertakings, government and semi-government entities, and corporate clients for four decades

The company’s turnover for the fiscal year 2024-25 is ₹36.04 Cr

Strategic Rationale for the Acquisition

• The companies will collaborate on product development, new technologies, and a preferred relationship for supplies of LT panels, bus trunking systems, and compact substations
• PECL will invest in expanding manufacturing capacity to meet the growing requirements of PIGL
• The current promoters of PECL will continue to lead the company’s management and operations to ensure continuity and a smooth transition

Future Outlook for PIGL

The full integration of Peaton Electrical Company Limited as a subsidiary is a significant step for PIGL’s long-term growth strategy. This move is expected to strengthen PIGL’s product portfolio and enhance operational synergies through a reliable supply chain. By securing a majority stake, PIGL is positioning itself for accelerated growth, an expanded market presence, and increased profitability for its stakeholders.

Commenting on the update, Mr. Padmaraj Padmnabhan Pillai, Managing Director of Power & Instrumentation (Gujarat) Limited said, “This acquisition marks a pivotal moment for PIGL. We are incredibly excited about the synergies this partnership will unlock, combining the extensive experience of both companies, PIGL’s market reach and strong client base with PECL’s decades of manufacturing excellence and innovation.

Together, we aim to accelerate product development, adopt new technologies, and scale up manufacturing capacity to meet the growing demand across public, private, and government projects. By integrating PECL as a subsidiary, PIGL will be able to strengthen its product portfolio, build a more reliable supply chain, and capture larger opportunities in the electrical equipment sector. This move positions us for sustained growth, enhanced competitiveness, and greater value creation for all stakeholders. ”

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