Power & Instrumentation (Gujarat) Limited — Updates, 23-12-2024: Press Release

Power & Instrumentation (Gujarat) Limited (PIGL) is enhancing its growth potential by increasing its stake in Peaton Electricals Company Limited (PECL) from 15% to 60%. This strategic acquisition aligns with PIGL's goal to strengthen its position in the electrical manufacturing sector. Notably, PECL has obtained a license from Siemens to manufacture, assemble, and sell SIEPAN 8PU low-voltage switchboards, showcasing its technological capabilities.

The majority stake is expected to unlock significant synergies, enhancing PIGL's manufacturing capabilities and expanding its product portfolio. The collaboration will increase PIGL’s stature in delivering high-quality electrical solutions due to the inclusion of Siemens-certified products. This acquisition is viewed as a strategic step that promises value creation for shareholders, reinforcing PIGL’s role in the electrical equipment sector. Mr. Padmaraj Padmnabhan Pillai, the Managing Director, emphasized the opportunity for innovation and improved customer value through this synergy.