The name may suggest it is a Govt of India company but it is not. A Mumbai based private sector company, it is a leading electrical engineering unit, making transformers, projects, electric motors, elevator systems and drives & automation.

It posted a turnaround for Q2FY16 mainly on account of lower costs and higher other income. Its net sales for the quarter came in at Rs.133 crore, down 11% (YoY) but a 16% drop in total costs and a 25% rise in other income helped the company end Q2 with a net profit of Rs.67 lakh v/s loss of Rs.10 crore in previous Q2 and loss of Rs.5 crore in Q1FY16. EBITDA was at Rs.2 crore v/s loss of Rs.6 crore (YoY).

It has two divisions – Power Systems and Industrial Systems.  The Power segment showed a 25% decline in revenue but posted an EBIT of Rs.2 crore v/s loss of Rs.5 crore (YoY) while the Industrial segment did much better – revenue rose 8% and EBIT showed a 2 times surge.