PIGL
Power & Instrumentation (Gujarat) Limited
If management delivers what it guided
arithmetic on filed guidance and past valuations · not a price target
PIGL
FY26 → FY27 · 1 year of guidance · ~0.7 years from today₹104 today
BEAR
₹112
+7%
17.3% a year · 14x exit
BASE
₹142
+36%
30% a year · 16x exit
BULL
₹222
+113%
40.8% a year · 23.2x exit
Where the market has priced it
12x15x today25x
- the guided figure reached earnings through a low-confidence bridge
How these numbers are produced
| Earnings base | FY26 fiscal year EPS ₹6.81 (screener) |
|---|---|
| Guided growth | 30% a year, said on the call of 21-Feb-2026 · transcript |
| Read across as | operating: unlabelled growth figure, read as revenue — low confidence |
| Delivery calibration | 0.58x / 1x / 1.36x of what was guided — measured: 76 annual guided-vs-filed pairs + 77 near-complete quarterly years — NSE transcripts against the companies' own filings |
| Exit multiple | 14x / 16x / 23.19x, this company’s own p20 / median / p80 across 5 filed years |
| Filed-industry peers | median 16.09x across 36 peers — the cross-check, not the input |
| Arithmetic | base EPS × (1 + guided growth × delivery)1 × exit multiple |
Arithmetic on management’s own guidance and this company’s own past valuations. Not a price target, not a recommendation, and not a forecast of what the stock will do.
What management said
from NSE earnings-call filings · extracted, not interpreted
generic growth 30%
Padmaraj Pillai: So as I had said earlier also and today also, we are targeting a growth of about 30% to 35% year-on-year.
Call 21-Feb-2026 · bridge confidence low · transcript PDF