PNN
Mumbai (Maharashtra) [India], December 24: Power & Instrumentation (Gujarat) Limited, (NSE - PIGL, BSE - 543912), one of the leading players in the electrical contracting and equipment industry, is set to enhance its growth trajectory by increasing its shareholding in Peaton Electricals Company Limited (PECL) from 15% to a 60%. This strategic move aligns with PIGL's vision to strengthen its position in the electrical manufacturing sector.
PECL has recently secured a prestigious license from Siemens to manufacture, assemble, and sell SIEPAN 8PU low-voltage switchboards. This achievement highlights PECL's technological capabilities and operational excellence, enabling it to meet the growing demand for high-quality electrical solutions.
By acquiring a majority stake in PECL, PIGL is poised to unlock significant synergies. The collaboration is expected to enhance PIGL's manufacturing capabilities, expand its product portfolio, and tap into a broader market base. The addition of Siemens-certified products is anticipated to elevate the company's reputation as a provider of cutting-edge electrical solutions.
This acquisition is a strategic step forward for PIGL, promising value creation for stakeholders and reinforcing its position as a key player in the electrical equipment sector.
Commenting on the update, Padmaraj Padmnabhan Pillai, Managing Director, Power & Instrumentation (Gujarat) Limited said, "This planned acquisition marks an important step for us. By increasing our stake in Peaton Electricals Company Limited, we aim to combine PIGL's extensive market experience and operational expertise with PECL's strong capabilities, bolstered by the Siemens certification to manufacture, assemble, and sell SIEPAN 8PU low-voltage switchboards.
This certification highlights the superior quality and reliability of the solutions we will offer together. The synergy between our companies will enable us to optimize resources, expand our product portfolio, and drive innovation, ultimately positioning us to deliver enhanced value to our customers and stakeholders in the future"
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