Power and Instrumentation (Gujarat) Ltd

AGM Details

• Date and mode: 25 Sep 2026 via VC.
• Start time: 2:30 PM; End: 2:58 PM.
• Record date: 18 Sep 2026.

Resolutions Proposed

• Resolution 1: Adopt audited standalone financial statements and reports (Ordinary).
• Resolution 2: Reappointment by rotation of director (Ordinary).
• Resolution 3: Ratify remuneration of Cost Auditor for FY ending March 2027 (Ordinary).
• Resolution 4: Regular appointment of Secretarial Auditor (Ordinary).
• Resolution 5: Approve material related party transactions (Ordinary).
• Resolution 6: Special approval of ESOP Scheme 2026 (Special).
• Resolution 7: Approve stock options under ESOP Scheme 2026 (Ordinary).

Voting Outcomes

• Resolution 1: Passed with overwhelming support; 2 opposing votes.
• Resolution 2: Passed; no notable dissent reported.
• Resolution 3: Passed; remuneration ratified.
• Resolution 4: Passed; small number against.
• Resolution 5: Passed; no material dissent.
• Resolution 6: Passed; minor dissent observed.
• Resolution 7: Passed; strong support.

Directors and Auditors

• Director changes: Reappointment by rotation.
• Cost Auditor remuneration ratified.
• Secretarial Auditor regular appointment.

Dividend

• Dividend: Not declared.

Related Party Transactions

• Material related party transactions approved.

Power and Instrumentation (Gujarat) Ltd — Closure of trading window from Oct 01, 2026 until 48 hours after the declaration of unaudited financial results for the quarter and half year ended Sep 30, 2026

AGM details

• Held on 25 September 2026 at 2:30 PM via VC/OAVM.
• Cut-off date for voting eligibility: 18 September 2026.
• Meeting concluded at 2:58 PM.
• Total attendees: 36 members via VC/OAVM.

Key resolutions

• Adopt standalone and consolidated financial statements for FY2026.
• Re-appoint Padmavati Padmanabhan Pillai as Director on rotation.
• Ratify remuneration of Cost Auditors for FY2027.
• Appoint Nisarg Sharma & Associates as Secretarial Auditor.
• Approve material related party transactions with related parties.
• Adopt PIGL ESOP Scheme 2026 (Special).
• Approve grant of ESOPs to employees across group companies.

Director changes

• Director re-appointment: Padmavati Padmanabhan Pillai (DIN 02026354) retires by rotation.

Auditors

• Secretarial Auditor Nisarg Sharma & Associates appointed.

Related party transactions

• Approval of material related party transactions with related parties.

Order award details

• Awarding entity: Power and Instrumentation (Gujarat) Ltd; order ₹6,05,76,260 from Mahesh Solar.
• Scope: supply of 11kV ICOG Panels and Inverter LT Panels under KUSUM-C.
• Execution window: 5-6 weeks from drawing approval.
• Entity: domestic; no promoter/related party interest disclosed.
• Value: ₹6,05,76,260 exclusive of GST.

Approval for Hisar Airport Power Works

• Approval letter dated 11 September 2026 from Airports Authority of India grants Specialized Agency status for Hisar Airport.
• Scope includes power supply works: substation equipment, DG sets, transformers, HT/LT panels, cabling, and APFC panels.

AGM notice and annual report access

• Dispatch letter with web-link to access 2025-26 Annual Report to unregistered members.
• AGM 42nd scheduled Sept 25, 2026 at 2:30 PM IST via VC/OAVM.
• Web-link to Annual Report and Notice provided; exact URLs listed.
• Cut-off for email registration: 28 August 2026.
• Update email with depository participants to receive notices; Green Initiative.
• Queries to Skyline Financial Services Pvt. Ltd for assistance.

AGM details

• Scheduled date and mode: AGM to be held by VC/OAVM.
• Remote e-voting window defined with start and end dates.
• Entitlement voting cut-off date specified.
• Annual report and notice available on company site.

Ordinary business

• Ordinary resolution to appoint the Secretarial Auditor (Nisarg Sharma & Associates).

Special business

• Item 3: Special resolution (subject unreadable in excerpt).
• Related party transactions with Peaton approved within ceiling.
• ESOP Scheme approved for grant of options.

Secretarial auditor changes

• Resignation of the current Secretarial Auditor noted; new appointment proposed.

Other governance items

• Details of ESOP scheme and related approvals.

Financial Highlights

• FY25-26 consolidated revenue from operations ₹218.76 crore.
• Consolidated total income ₹220.30 crore.
• EBITDA ₹24.46 crore; PAT ₹14.84 crore.
• Revenue crossed ₹200 crore in FY26.
• Ongoing work ₹390 crore+.

Strategic Transformation

• Transition from electrical contractor to energy solutions platform underway.
• Entered 400 kV EHV segment and Solar EPC verticals.
• PECL integration strengthens manufacturing depth and quality control.
• Five significant airport EPC orders secured in FY26.

Airport & Infrastructure Focus

• Airport electrification footprint: 35+ projects nationwide.
• Pan-India execution across Gujarat, Rajasthan, Jharkhand, Assam, Kerala.
• 5 MW solar project reference turnkey ₹17.07 crore.

PECL & Manufacturing Integration

• PECL stake raised to 60% by 31 Mar 2026.
• PECL enables Siemens-certified switchboards, unitized substations, LT/MV panels.
• Increases manufacturing depth and supply-chain resilience.

Governance & Management

• Daisy Mehta appointed Company Secretary & Compliance Officer from 3-Apr-2026.
• ESOP Scheme 2026 approved; up to 2,00,000 options.
• Secretarial Auditor Nisarg Sharma & Associates appointed for 2026-31.
• Omnibus RPT approvals for Peaton up to ₹30 crore.
• Board meetings held 20 times in FY25-26.

CSR & ESG

• CSR expenditure ₹19.50 Lakh in FY26; 2% of average net profit ₹19.07 Lakh.
• CSR focuses on rural electrification, healthcare, education and environment.

Audits & Compliance

• Statutory auditors: MAAK & Associates; clean report.
• Secretarial audit: observes warrants lock-in; management committed to compliance.

Risks & Outlook

• Macro/regulatory risks; project execution remains key.
• Opportunities from RDSS, EHV transmission, Solar EPC and energy storage.
• Grid modernization and digital energy management expected to drive demand.