Power & Instrumentation (Gujarat) Limited (PIGL), a leading player in the electrical contracting and equipment sector, has announced the acquisition of an additional 35.82% stake in Peaton Electrical Company Limited (PECL). With this transaction, PIGL’s total shareholding in PECL rises to 51.06%, making it a subsidiary. Previously, PIGL held a 15.23% stake in the company.
As part of the collaboration, PECL will serve as a preferred supplier for LT panels, bus trunking systems, and compact substations, while also investing to expand its manufacturing capacity. This will enable the company to cater to the increasing requirements from PIGL’s projects, ensuring stronger supply chain reliability and supporting large-scale industrial and infrastructure developments.
PECL’s current promoters will continue to lead day-to-day management and operations, ensuring business continuity and a smooth transition. The integration strengthens PIGL’s long-term growth strategy by enhancing its product portfolio, creating operational synergies, and building a reliable supply chain for industrial and infrastructure projects.
Padmaraj Padmnabhan Pillai, Managing Director, PIGL, said “This acquisition marks a pivotal milestone for us. By combining PIGL’s market reach and client network with PECL’s four decades of manufacturing expertise, we are poised to accelerate product development, adopt advanced technologies, and scale up production capacity. Together, we will strengthen our supply chain, capture larger opportunities in the electrical equipment sector, and deliver greater value to stakeholders.”
PECL is a long-established manufacturer of electrical equipment, specializing in unitized substations, medium-voltage (M.V.) panels, low-voltage (L.V.) panels, and bus trunking systems. Its product range also includes compact substations, auto-synchronizing panels, APFCR panels, and distribution boards up to 33 kV.
With a four-decade track record, PECL has supplied products to public sector undertakings, government entities, semi-government institutions, and corporate clients. For FY 2024–25, the company reported a turnover of ₹36.04 crore.
The partnership between PIGL and PECL is designed to drive collaborative growth through joint product development and the adoption of new technologies. By combining their expertise, both companies aim to deliver advanced, efficient, and reliable electrical solutions that align with evolving industry needs.
Founded in 1975, PIGL is a leading EPC company in the electrical contracting space, offering end-to-end solutions across generation, transmission, and distribution. Its expertise spans design, supply, installation, and maintenance of power systems, including substations, power distribution panels, UPS systems, lighting, access control, firefighting, ELV works, and building management systems.
With over 35 airport projects executed, more than 100,000 BPL households electrified, and 20,000+ km of HT and LT lines laid, PIGL has built a strong track record of on-time project delivery. The company migrated to the main boards of NSE and BSE in May 2023, marking a key milestone in its growth journey. For FY25, PIGL reported Standalone Total Income of ₹171.28 crore, EBITDA of ₹19.59 crore, and Net Profit of ₹11.75 crore.
