PIGL Expands Stake in PECL: A Strategic Acquisition for Growth

Power & Instrumentation (Gujarat) Limited's strategic acquisition of a 35.82% stake in Peaton Electrical Company Limited makes PECL a subsidiary. This move is set to advance product development, expand manufacturing capacity, and strengthen PIGL’s market presence in the electrical equipment sector.

PNN Ahmedabad (Gujarat) [India], September 12: Power & Instrumentation (Gujarat) Limited (PIGL), a prominent entity in the electrical contracting and equipment sector, has announced the acquisition of an additional 35.82% stake in Peaton Electrical Company Limited (PECL). This strategic maneuver elevates PIGL's shareholding to a commanding 51.06%, thereby establishing PECL as a subsidiary.

Peaton Electrical Company Limited specializes in the manufacture of diverse electrical materials, including unitised substations, medium voltage (M.V.) and low voltage (L.V.) panels, bus trunking systems, and compact substations. The company has entrenched itself in the electrical equipment manufacturing industry, catering to a broad spectrum of clients, including major public sector enterprises and corporate entities, boasting a turnover of ₹36.04 crore for the fiscal year 2024-25.

The acquisition aims to expedite product development, leverage new technologies, and fortify the supply of LT panels, bus trunking systems, and compact substations. Under the stewardship of its current promoters, PECL plans to enhance its manufacturing capacity to satisfy PIGL's escalating demands. PIGL anticipates that the full integration of PECL will propel its growth trajectory, amplify market presence, and increase profitability, cementing its stature in the industry.

(With inputs from agencies.)