CG Power | Business Upturn

CG Power subsidiary Axiro Semiconductor invests in EdgeCortix to enhance AI platforms

Yash Agarwal — Wed, 15 Apr 2026 03:27:11 +0000

EdgeCortix, a leading fabless semiconductor company known for its energy-efficient AI processing at the edge, has announced a new investment from Axiro Semiconductor Pvt. Ltd., a wholly owned subsidiary of CG Power and Industrial Solutions, and MPower Partners, a Japan-based global venture capital fund. This investment builds on the strong momentum of EdgeCortix‘s previously oversubscribed funding round.

The investment aims to bolster EdgeCortix’s position as a global leader in AI inference, accelerating the development and commercialisation of its next-generation, energy-efficient platforms for Generative and Agentic AI, including its SAKURA-X chiplet-based platform. Axiro Semiconductor, headquartered in India, brings extensive expertise in RF, mmWave, and advanced connectivity IC design for next-generation wireless systems.

Dr. Naveen Yanduru, Chief Executive Officer at Axiro, expressed enthusiasm for the partnership, stating, “We are thrilled to support EdgeCortix as an investor and partner. This investment reflects our focus on advancing next-generation semiconductor and connectivity technologies. We see alignment with EdgeCortix’s low-power, high-performance AI capabilities, including platforms such as SAKURA-II, and the potential to complement our work in advanced connectivity.”

MPower Partners also participated as a financial investor, reinforcing its commitment to supporting high-growth, globally relevant deep-tech companies aligned with strong Environmental, Social, and Governance (ESG) principles. Kathy Matsui, General Partner at MPower Partners, commented, “EdgeCortix’s software-first approach and focus on performance-per-watt align closely with our Fund 2 theme of ‘Japan Dynamism’. We believe the company is uniquely positioned to deliver sustainable, scalable innovation while enabling the next generation of AI applications globally.”

Dr. Sakyasingha Dasgupta, Founder and CEO of EdgeCortix, highlighted the strategic value brought by both Axiro Semiconductor and MPower Partners, noting that Axiro’s expertise in advanced wireless systems and strong presence across India’s industrial ecosystem open new pathways for collaboration and market expansion.

Disclaimer: This article is based on a regulatory filing submitted to the National Stock Exchange of India (NSE).

KSH International appoints Hukumchand Lakhotiya as CEO effective April 2026

Kinjal — Tue, 31 Mar 2026 09:06:43 +0000

KSH International, a leading Indian manufacturer and exporter of magnet winding wires, has announced the appointment of Mr. Hukumchand Lakhotiya as its new Chief Executive Officer, effective from 2 April 2026.

Mr. Lakhotiya brings over three decades of experience in the electrical and power sectors, having previously held significant leadership roles at CG Power & Industrial Systems Ltd. and Schneider Electric Pte Ltd. in Singapore. His expertise spans across profit and loss management, multi-plant operations, sales and business development, green energy, digitalisation, and project management.

During his tenure at CG Power, Mr. Lakhotiya was instrumental in leading the transformer, switchgear, and EPC business across Asia, overseeing several regional Asian plants and managing the exports business. Before joining KSH International, he served as the Chief Operating Officer for Waste to Energy at SAEL Industries Ltd. Mr. Lakhotiya holds an MTech in Industrial Management from the Indian Institute of Technology (IIT) Bombay and a Bachelor’s degree in electrical engineering from the Government College of Engineering, Amravati, where he was a gold medallist.

KSH International’s Managing Director, Mr. Rajesh Hegde, expressed enthusiasm about the new appointment, stating, “We extend Hukumchand (i.e. Hemant) a warm welcome to KSH. His experience in the transformer and electrical industries, both locally and globally, as well as leading large multinational businesses will be invaluable as we establish the company as a leading provider of specialised magnet winding wires in India and abroad.”

KSH International Limited is recognised as one of India’s leading manufacturers and largest exporters of magnet winding wires. Founded in 1981, the company supplies ultra-precision special and standard magnet winding wires to original equipment manufacturers (OEMs) across various sectors, including power, renewables, railways, and motors for electric and internal combustion engine vehicles. KSH International operates four manufacturing facilities in Maharashtra, with a total annual capacity of 43,445 metric tonnes.

Disclaimer: This article is based on a regulatory filing submitted to the National Stock Exchange of India (NSE).

CG Power announces resignation of executive vice president Sriram Rangarajan

Business Desk — Thu, 19 Mar 2026 03:29:36 +0000

CG Power and Industrial Solutions has announced the resignation of Mr. Sriram Rangarajan, who served as the Executive Vice President and SBU Head of the Consumer Product Business. Mr. Rangarajan’s resignation is effective from the close of business hours on 19th March 2026, citing personal reasons for his departure.

The company has confirmed that Mr. Rangarajan will no longer be part of its senior management team following his resignation. The decision was communicated in a formal resignation letter, which the company has acknowledged and taken on record.

Mr. Rangarajan’s departure marks a significant change in the leadership of CG Power‘s Consumer Product Business division. His resignation was formally discussed with Amar Kaul, the Managing Director and CEO of CG Power, during a meeting where Mr. Rangarajan expressed his gratitude for the support and guidance he received during his tenure.

The company has not announced any immediate replacement for Mr. Rangarajan’s position. The transition process is expected to be smooth, with Mr. Rangarajan committed to ensuring all responsibilities and ongoing matters are handed over in an orderly manner.

Disclaimer: This article is based on a regulatory filing submitted to the National Stock Exchange of India (NSE).

CG Power receives NSE and BSE approval for promoter reclassification

Kinjal — Wed, 18 Mar 2026 11:17:19 +0000

CG Power and Industrial Solutions Limited has received approval from both the National Stock Exchange of India (NSE) and BSE Limited for the reclassification of its outgoing promoters. The reclassification pertains to M/s. Algavista Greentech Private Limited, which has been moved from the ‘Promoter and Promoter Group Category’ to the ‘Public Category’.

The approval from NSE was communicated via a letter with reference number NSE/LIST/COMP/CGPOWER/557/2025-2026, dated 18th March 2026. Similarly, BSE conveyed its approval through a letter bearing reference number LIST/COMP/KR/736/2025-26 on the same date.

This reclassification is in accordance with Regulation 31A of the Securities and Exchange Board of India (SEBI) Listing Obligations and Disclosure Requirements Regulations, 2015. CG Power had previously submitted an application for this reclassification on 30th January 2026.

The company is required to ensure compliance with any subsequent relevant disclosures of material events related to this reclassification, as per the applicable provisions of the SEBI Listing Regulations.

Disclaimer: This article is based on a regulatory filing submitted to the National Stock Exchange of India (NSE).

CG Power shares fall over 3% after Q3 results miss estimates

Aman Shukla — Tue, 27 Jan 2026 09:40:32 +0000

CG Power and Industrial Solutions shares slipped over 3% in trade after the company reported its Q3 earnings, with headline numbers coming in below market expectations even as year-on-year growth remained strong across key parameters.

CG Power and Industrial Solutions reported a net profit of ₹284 crore for the quarter, missing the CNBC-TV18 poll estimate of ₹314.7 crore. Revenue for the period stood at ₹3,175.4 crore, also slightly lower than the Street expectation of ₹3,204.8 crore. EBITDA came in at ₹397.4 crore compared with the poll forecast of ₹425 crore, while operating margin was reported at 12.5%, below the estimated 13.3%.

On a year-on-year basis, the company delivered healthy growth. Net profit rose 19.3% from ₹237.8 crore in the corresponding quarter last year, supported by strong execution and higher scale. Revenue increased 26.2% to ₹3,175.4 crore from ₹2,515 crore a year ago, reflecting sustained demand across key segments. EBITDA grew 20% year-on-year to ₹397.4 crore from ₹330.3 crore, although margins moderated.

The EBITDA margin declined to 12.5% in Q3 from 13.1% in the year-ago period, indicating some pressure on profitability despite higher revenues.

Disclaimer: The information provided is for informational purposes only and should not be considered financial or investment advice. Stock market investments are subject to market risks. Always conduct your own research or consult a financial advisor before making investment decisions. Author or Business Upturn is not liable for any losses arising from the use of this information.

CG Power Q3 Results: Revenue jumps 26.2% YoY to Rs 3,175.35 crore, net profit up 19.4%

Aman Shukla — Tue, 27 Jan 2026 09:20:08 +0000

CG Power and Industrial Solutions delivered a solid performance in the third quarter ended December 31, 2025, reporting healthy year-on-year growth across key financial metrics.

In Q3 FY26, revenue from operations rose to ₹3,175.35 crore, up from ₹2,515.68 crore in Q3 FY25, marking a YoY growth of approximately 26.2%. Total income for the quarter stood at ₹3,251.76 crore versus ₹2,549.28 crore a year earlier, registering a strong 27.6% YoY increase.

Operating performance also showed improvement. Profit before tax for the quarter came in at ₹383.97 crore compared with ₹334.86 crore in Q3 FY25, translating into a 14.7% YoY rise despite the presence of exceptional items during the period.

Net profit after tax from continuing operations stood at ₹283.91 crore, up from ₹237.85 crore in the corresponding quarter last year. This represents a healthy 19.4% YoY growth.

Disclaimer: This article is for informational purposes only. It is not intended to be investment advice or a recommendation to buy or sell any stock. Readers are advised to consult their financial advisor before making any investment decisions.

CG Power Q3 Results: Shares fall over 2% ahead of earnings announcement

Aman Shukla — Tue, 27 Jan 2026 09:04:08 +0000

CG Power shares slipped more than 2% in intraday trade on January 27 as investors turned cautious ahead of the company’s Q3 earnings announcement. The stock came under selling pressure during the session, reflecting a wait-and-watch approach in the market before the quarterly numbers.

Shares of CG Power and Industrial Solutions Ltd moved in a wide range during the day, touching an intraday low of ₹537.50 and a high of ₹557.00. The stock opened at ₹557.00, compared with the previous close of ₹549.10. By around 2:30 PM IST, trading volumes stood at 45,07,342 shares, indicating active participation from market participants.

From a broader perspective, CG Power continues to trade well above its 52-week low of ₹517.70, though it remains significantly below the 52-week high of ₹797.55.

Market participants are likely awaiting clarity from the Q3 results on key aspects such as revenue trends, margins, and order inflows.

CG Power shares rally over 7% after bagging landmark data center project worth Rs 900 crore from Tallgrass

Aman Shukla — Mon, 19 Jan 2026 03:49:13 +0000

Shares of CG Power and Industrial Solutions Limited surged over 7% in trade after the company announced a landmark export order worth approximately ₹900 crore ($99.2 million) from Tallgrass Integrated Logistics Solutions LLC, marking a major strategic breakthrough for the Indian electrical equipment manufacturer.

The order has been awarded for a large-scale data centre project in the United States and represents CG Power’s formal entry into the global data centre segment, one of the fastest-growing and most critical infrastructure markets worldwide. This is the largest single contract ever secured by the company, reinforcing its expanding global footprint and strengthening its export-led growth strategy.

The contract involves the direct export of advanced power transformers designed to support hyperscale data centre operations, where uninterrupted power supply, operational efficiency, and system reliability are critical. Data centres operate under continuous heavy loads and require highly reliable electrical infrastructure to ensure maximum uptime, energy efficiency, and fault tolerance.

Under the agreement, CG Power will design, manufacture, and supply high-performance power transformers that meet stringent global standards for reliability and efficiency. These transformers will play a key role in supporting mission-critical operations at hyperscale facilities, which demand round-the-clock performance with minimal tolerance for power disruptions.

CG Power secures landmark data center project worth Rs 900 crore from Tallgrass

Aman Shukla — Sat, 17 Jan 2026 15:21:48 +0000

CG Power and Industrial Solutions Limited has achieved a major strategic breakthrough after securing a landmark export order worth approximately ₹900 crore ($99.2 million) from Tallgrass Integrated Logistics Solutions LLC, USA. The order, awarded for a large-scale data center project in the United States, represents CG Power’s formal entry into the global data center segment—one of the fastest-growing and most critical infrastructure markets worldwide.

This order is the largest single contract ever won by CG Power, reinforcing the company’s expanding global footprint and export-led growth strategy. It is a direct export order for the supply of advanced power transformers that will support hyperscale data center operations, where uninterrupted power, operational efficiency, and system reliability are non-negotiable.

Under the agreement, CG Power will design, manufacture, and supply high-performance power transformers that meet the stringent reliability, efficiency, and uptime requirements demanded by hyperscale data centers. These facilities require mission-critical electrical infrastructure capable of operating continuously under heavy loads while maintaining maximum energy efficiency and fault tolerance.

The entire scope of supply will be executed from CG Power’s state-of-the-art manufacturing facilities in India, highlighting the company’s strong engineering capabilities and advanced testing infrastructure. The delivery of the transformers is scheduled over a period of 12 to 20 months, with shipment terms specified as FAS Mumbai Port (Incoterms® 2020).

CG Power’s selection for this prestigious US-based data center project underscores its growing reputation as a trusted global supplier of complex power solutions. The company credited its success to disciplined execution through CG EDGE, its operating framework designed to translate long-term strategy into consistent, scalable performance across large and complex projects.

CG Power shares fall after a major order gets cancelled

Aman Shukla — Mon, 24 Nov 2025 03:54:56 +0000

CG Power and Industrial Solutions witnessed pressure on its stock after its subsidiary, G.G. Tronics India Pvt. Ltd. (GGT), confirmed that a major order from Chittaranjan Locomotive Works (CLW) has been cancelled. As of 9:24 AM, the shares were trading 1.68% lower at Rs 698.25.

GGT recently announced strong progress in developing and field-validating its Uniform Braking Algorithm, designed to bring consistent braking performance across various locomotive classes of Indian Railways. The project—driven by the Centre of Excellence (COE) and RDSO—aims to set a new benchmark for braking technology and ensure uniform performance among different suppliers.

The cancelled order, awarded in November 2024 under the Developmental Category, was for the supply of Loco Kavach systems. Although GGT has nearly completed product development, Independent Safety Assessment (ISA), and RDSO approvals, the company could not begin deliveries within the stipulated 12-month period because these approvals took longer than expected. As a result, CLW has cancelled the contract.

CG Power Q2 Results: Revenue jumps 21% to Rs 2,922.8 crore, net profit up 30%

Aman Shukla — Wed, 29 Oct 2025 09:22:46 +0000

CG Power and Industrial Solutions Ltd reported a strong set of numbers for Q2 FY26, reflecting consistent business growth. The company’s net profit surged 30% year-on-year to ₹286.7 crore, compared with ₹221 crore in the same quarter last year.

Revenue from operations rose 21% YoY to ₹2,922.8 crore, up from ₹2,412.7 crore in Q2 FY25, while total income grew 22% YoY to ₹2,988.9 crore.

EBITDA grew 28% YoY to ₹377 crore, compared to ₹295 crore last year, with EBITDA margin improving to 12.9% from 12.2%.

On the operational front, total expenses increased to ₹2,600.82 crore from ₹2,147.99 crore, largely due to higher raw material and employee costs. The company’s profit before tax grew 32% YoY to ₹388.07 crore, reflecting operational efficiency and improved margins.

CG Power shares in focus as semiconductor chips production set to start this month: Report

Aman Shukla — Wed, 13 Aug 2025 06:47:08 +0000

CG Power shares are in the spotlight today as the company prepares to commence production of semiconductor chips by the end of this month, as reported by CNBC Awaaz. The company’s chip pilot plant in Sanand, Gujarat, is set for inauguration soon, marking a significant step into the growing semiconductor sector.

Investors are closely tracking CG Power’s stock, anticipating positive momentum as the company scales its production capabilities, potentially driving long-term growth.

CG Power shares opened at ₹660.40 today and saw a low of ₹659.20 and a high of ₹674.80 during trading. The stock closed previously at ₹658.55. Over the past 52 weeks, CG Power has traded between a low of ₹517.70 and a high of ₹874.70. As of 12:17 PM, the shares were trading 1.97% higher at Rs 671.50.

CG Power secures 99-year land lease from MPIDC for transformer plant in Sehore, M.P

Aman Shukla — Sat, 02 Aug 2025 07:24:13 +0000

CG Power and Industrial Solutions has taken a key step forward in its planned greenfield transformer manufacturing project. The company announced that it has secured land for the upcoming facility, which will have a proposed capacity of 45,000 MVA.

In an update following its earlier board meeting held on January 28, 2025, CG Power confirmed that the Madhya Pradesh Industrial Development Corporation Limited (MPIDC) has officially allotted approximately 45.13 acres of land for the project. The plot, located in the village of Jahangirpura, Tehsil Sehore, in Sehore district, has been granted on a 99-year lease.

This new facility is planned to be set up in Western India as part of the company’s efforts to expand its transformer business through a greenfield investment. The land handover marks a significant milestone in the project’s development, paving the way for construction and operations planning to move ahead.

In the meantime, CG Power shares ended Friday’s session at ₹652.30 after opening at ₹662.05. Throughout the day, the stock hit an intraday high of ₹665.90 and a low of ₹649.55. The stock has been trading well below its 52-week high of ₹874.70, though still above the 52-week low of ₹517.70.

CG Power bags Rs 641 crore order from Power Grid for 765kV Transformer Package

Aman Shukla — Tue, 17 Jun 2025 09:28:31 +0000

CG Power and Industrial Solutions Ltd. (CG), a key player in the electrical engineering sector, has secured a significant order from Power Grid Corporation of India Limited (PGCIL) under its Corporate Package for high-voltage transformers and reactors.

The order, valued at approximately ₹641 crore (USD 74 million), pertains to the 765kV Transformer Package 7TR-12-Bulk under Lot-4 of PGCIL’s revised procurement methodology. It includes the supply of 765/400 kV single-phase transformers. The delivery timeline for the equipment spans between 18 and 36 months.

This marks the highest single order ever received by CG Power.

Headquartered in India, CG Power has a long-standing presence in the transformer segment, offering a broad portfolio of power and distribution transformers and reactors. The company designs and manufactures transformers ranging from 25 kVA to 1500 MVA and up to 765kV class. It also produces reactors from 10 MVAr to 125 MVAr and voltages up to 765kV.

CG’s products adhere to global standards, including IEC, ANSI, IS, and BS, and serve various sectors such as power utilities, industrial users, process industries, railways, mining, and state electricity boards.

CG Power enters air coolers market with advanced JetChill technology

Aman Shukla — Thu, 20 Mar 2025 10:31:53 +0000

CG Power and Industrial Solutions Ltd, a leader in the electrical engineering industry and a key player in the consumer durables sector, has announced its entry into the air cooler market with the launch of a new range featuring innovative JetChill Technology. Designed for superior cooling performance, these air coolers offer high air delivery, making them ideal for large spaces. The integration of honeycomb cooling pads enhances water retention, ensuring prolonged and efficient cooling.

Built with a sleek, ergonomic design and a durable structure, the air coolers seamlessly blend with modern interiors while ensuring long-term reliability. They deliver powerful cooling while consuming less energy, offering significant savings without compromising performance. With an emphasis on optimized airflow, the JetChill Technology ensures faster cooling, enhancing user comfort even in extreme temperatures.

With a legacy spanning over 86 years, CG has built a strong reputation in the consumer durables market with its high-quality fans, water heaters, and pumps. The company’s latest expansion into air coolers reinforces its commitment to delivering innovative and energy-efficient solutions.

Speaking on the launch, Amar Kaul, Managing Director & CEO of CG Power and Industrial Solutions Ltd, said, “This launch marks a significant milestone for CG as we further consolidate our position in the Consumer Durables sector. Backed by our legacy of engineering excellence, we are confident that our new air coolers with JetChill Technology will set new benchmarks in cooling efficiency, reliability, and energy savings. Our commitment remains steadfast in delivering high-quality products that elevate consumer comfort and convenience.”

CG Power board approves Rs 1.30 interim dividend for FY25

Aman Shukla — Tue, 18 Mar 2025 08:26:17 +0000

CG Power and Industrial Solutions has announced the approval of an interim dividend for the financial year 2024-25. The company’s Board of Directors, in a meeting held on March 18, 2025, approved an interim dividend of ₹1.30 per equity share, representing 65% of the face value of ₹2 per share. This decision aligns with the company’s commitment to rewarding its shareholders while maintaining financial stability.

In the exchange filing, the company shared, “The Board of Directors of the company at its Meeting held today i.e. 18th March, 2025 have considered and approved the payment of Interim Dividend at Rs. 1.30/- per Equity Share i.e. 65% on face value of Rs. 2/‐ per share for the Financial Year 2024-25.”

The record date for determining eligible shareholders is set for March 22, 2025. Investors holding shares as of this date will be entitled to receive the dividend. The payment of the interim dividend is scheduled to be disbursed on or after April 16, 2025, ensuring compliance with the provisions of the Companies Act, 2013, which mandates payment within 30 days of declaration.

The Board meeting, which commenced at 10:30 a.m. and concluded at 1:30 p.m. (IST), also reaffirmed CG Power’s strategic focus on shareholder value creation.

CG Power secures order worth Rs 400-450 crore for Vande Bharat trainsets

Aman Shukla — Tue, 11 Mar 2025 09:45:43 +0000

CG Power and Industrial Solutions Ltd (CG), a leader in the Electrical Engineering Industry, has signed a long-term supply agreement with Kinet Railway Solutions Limited. This agreement includes the supply and servicing of railway products such as propulsion kits, motors, and transformers.

As part of the deal, CG has secured its first purchase order worth ₹400-450 crore for supplying railway components for 10 Vande Bharat trainsets. Additionally, the agreement includes a 35-year service contract, reinforcing CG’s commitment to India’s railway modernization.

With over 86 years of expertise, CG has built a strong presence in the railway sector. The company specializes in Traction Machines & Systems, Rail Transportation Propulsion Electronics, and Railway Signaling Products. Recently, CG also ventured into the Train Collision Avoidance System (TCAS), known as KAVACH, enhancing railway safety.

Headquartered in Mumbai, CG Power is a leading engineering conglomerate catering to Industrial and Power sectors. It manufactures Traction Motors, Propulsion Systems, and Signaling Relays for Indian Railways. The company also produces Induction Motors, Drives, Transformers, and Switchgear for industrial applications. Expanding its portfolio, CG has recently entered the consumer appliances segment, offering fans, pumps, and water heaters.

With this latest railway contract, CG Power continues to strengthen its role in India’s growing transportation infrastructure, driving innovation and efficiency in the sector.

CG Power Q3 FY25 results: Revenue jumps 27% YoY to Rs 2,516 crore, net profit drops 68% YoY

Aman Shukla — Tue, 28 Jan 2025 09:06:30 +0000

CG Power and Industrial Solutions Limited has announced its Q3 results, revealing mixed financial performance for the quarter.

The company’s net profit witnessed a sharp decline of 68% year-on-year, dropping to ₹240.5 crore from ₹747 crore in the same period last year. Despite the decline in net profit, revenue showed significant growth, increasing by 27% to ₹2,516 crore compared to ₹1,979 crore in the previous year.

The company’s EBITDA also improved by 27%, reaching ₹332 crore as against ₹262 crore a year ago. However, the EBITDA margin remained unchanged at 13.2%, indicating stable operational efficiency despite revenue growth.

In addition to its financial performance, CG Power announced plans to establish a greenfield transformer manufacturing facility with a production capacity of 45,000 MVA. The company is set to invest ₹712 crore in this project, aligning with its long-term strategy to expand manufacturing capabilities and cater to the growing demand for power infrastructure.

In the meantime, CG Power shares opened at ₹599 today, reaching a high of ₹602.70 and a low of ₹517.75. The stock’s 52-week range stands between ₹420.25 and ₹874.70, indicating significant volatility. As of 2:37 AM, the shares were trading 3.21% lower at Rs 576.35.

CG Power shares surge nearly 2% as subsidiary G.G. Tronics secures Rs 500-600 crore railway order

Aditya Bhagchandani — Wed, 27 Nov 2024 04:04:05 +0000

G.G. Tronics India Private Limited (GGT), a subsidiary of CG Power and Industrial Solutions Limited, has bagged a prestigious order from Chittaranjan Locomotive Works in West Bengal. The project involves the supply, installation, testing, and commissioning of Onboard KAVACH systems, an advanced Train Collision Avoidance System (TCAS), in adherence to RDSO specifications. The contract also includes 11 years of maintenance.

As of 9:33 am the shares were trading 1.71% higher at ₹748.00 on NSE.

Project Highlights

Scope: Deployment of KAVACH systems to enhance rail safety.
Value: Estimated to be ₹500-600 crore.
Timeline: Completion within one year.

GGT’s Expertise

With over 21 years of industry experience, G.G. Tronics is a leader in Electronic Safety Embedded Signalling Systems for railways. Its product portfolio includes:

Digital Axle Counters
Automatic Train Protection Systems, compliant with CENELEC SIL 4 safety standards
System and Software Verification and Validation, adhering to global standards such as EN50126 and EN50128.

This significant project reinforces CG Power’s commitment to innovation, safety, and reliability in the railway sector, further strengthening its presence in critical infrastructure solutions.

CG Power’s subsidiary bags Rs 600 crore KAVACH order from Chittaranjan Locomotive Works

Aman Shukla — Wed, 27 Nov 2024 03:30:21 +0000

G.G.Tronics India Private Limited (GGT), a subsidiary of CG Power and Industrial Solutions Limited, has secured a prestigious order from Chittaranjan Locomotive Works, West Bengal. The order includes the supply, installation, testing, and commissioning of Onboard KAVACH systems—an advanced Train Collision Avoidance System (TCAS)—in compliance with RDSO specifications, along with 11 years of maintenance.

With over 21 years of expertise, GGT specializes in Electronic Safety Embedded Signalling Systems for railways. Its innovative product range includes Digital Axle Counters and Automatic Train Protection Systems, all compliant with CENELEC SIL 4 safety standards. GGT also provides system and software verification and validation adhering to EN50126, EN50128, and other global standards.

This ₹500-600 crore project, set for completion in one year, underscores GGT’s commitment to innovation, safety, and reliability in the railway sector.

CG Power and Industrial Solutions’ market cap rises by Rs 1,867 crore: Know More

Aditya Bhagchandani — Mon, 18 Nov 2024 07:46:15 +0000

CG Power and Industrial Solutions Limited saw a 1.75% increase in its share price today, closing at Rs 707.25, up from its previous close of Rs 695.10. This gain resulted in a market capitalization increase of approximately Rs 1,867 crore, bringing the total market cap to Rs 1,08,102.32 crore.

Key Trading and Stock Data:

Traded Volume: 9.61 lakh shares
Traded Value: Rs 67.78 crore
52-Week High: Rs 874.70 (11-Oct-2024)
52-Week Low: Rs 379.00 (15-Nov-2023)
VWAP (Volume Weighted Average Price): Rs 704.93

The upward movement reflects growing confidence in the company’s operational performance and potential future growth.

Disclaimer: The information provided is for informational purposes only and should not be considered financial or investment advice. Stock market investments are subject to market risks. Always conduct your own research or consult a financial advisor before making investment decisions. The author or Business Upturn is not liable for any losses arising from the use of this information.

CG Power shares surge 5% on fundraising plans and Q2 FY25 results

Aditya Bhagchandani — Tue, 22 Oct 2024 04:01:02 +0000

CG Power and Industrial Solutions Limited shares rose by 5.07% to ₹814.90 at 9:27 AM after the company announced plans to raise up to ₹3,500 crore through a Qualified Institutional Placement (QIP). The move is aimed at strengthening the company’s financial position and funding future growth projects. This decision, taken during the Board of Directors meeting on October 21, 2024, is subject to shareholder and regulatory approvals.

In addition to the fundraising plan, CG Power released its Q2 FY25 financial results, highlighting a 20.55% year-on-year (YoY) increase in revenue. The company reported revenue of ₹2,412.69 crore, up from ₹2,002.58 crore in Q2 FY24. However, net profit for the quarter declined by 9.90%, falling to ₹219.63 crore from ₹243.76 crore in the same period last year, reflecting rising costs that impacted profitability.

Investors responded positively to the fundraising plans, leading to the stock’s upward movement.

Disclaimer: The information provided is for informational purposes only and should not be considered financial or investment advice. Stock market investments are subject to market risks. Always conduct your own research or consult a financial advisor before making investment decisions. Author or Business Upturn is not liable for any losses arising from the use of this information.

Stock to watch today: CG Power approves ₹3,500 crore fundraise through QIP, Q2 FY25 revenue grows 20.55% YoY

Aditya Bhagchandani — Tue, 22 Oct 2024 02:53:52 +0000

CG Power and Industrial Solutions Limited has announced plans to raise up to ₹3,500 crore through a Qualified Institutional Placement (QIP). This decision, taken during the company’s Board of Directors meeting on October 21, 2024, is subject to the approval of shareholders and relevant regulatory bodies.

The move to raise funds is part of CG Power’s strategy to strengthen its financial position and fund future expansion projects. The equity shares and/or other eligible securities will be issued as part of this fundraising initiative, demonstrating the company’s focus on securing capital for long-term growth.

In addition to the fundraising decision, CG Power reported its Q2 FY25 results, showcasing a 20.55% year-on-year (YoY) growth in revenue. The company’s revenue for the quarter stood at ₹2,412.69 crore, compared to ₹2,002.58 crore in Q2 FY24. However, despite the revenue growth, CG Power saw a 9.90% decline in net profit, which fell to ₹219.63 crore in Q2 FY25 from ₹243.76 crore in the same quarter last year.

This mixed performance reflects the company’s strong market presence but also highlights the challenges it faces in maintaining profitability amid rising costs and market conditions.

The upcoming QIP is expected to provide CG Power with the financial flexibility needed to navigate these challenges and invest in future growth opportunities.

CG Power shares surge 2% ahead of board meeting on fundraising plans

Aman Shukla — Mon, 21 Oct 2024 04:04:57 +0000

CG Power and Industrial Solutions shares jumped more than 2% in morning trade after the company announced that its board would meet today to consider fundraising via the issuance of equity shares, debentures, warrants, preference shares, or any other equity-linked securities.

The company’s shares opened at ₹825, reaching a high of ₹841.80 and a low of ₹824 during today’s session. The stock is currently trading close to its 52-week high of ₹874.70, significantly up from its 52-week low of ₹359.20.

As of 9:34 am, CG Power shares were trading 1.89% higher at Rs 834.50 on the NSE.

Stocks Hitting 52-Week High: CG Power, Divis Labs, and HCL Tech lead large cap gainers

Aditya Bhagchandani — Fri, 11 Oct 2024 04:39:24 +0000

In the early hours of October 11, 2024, several large-cap stocks reached new 52-week highs, indicating strong market performance. Among the top gainers were CG Power, Divis Labs, and HCL Tech.

CG Power: Trading at ₹863.65, CG Power surged by ₹21.90, representing a 2.60% increase with a trading volume of 3.06 million shares. The company’s robust momentum continues to push it to new highs in the market.
Divis Labs: Divis Laboratories hit ₹6,050.00, rising by ₹107.85, reflecting a 1.81% increase. With a trading volume of 262.44k shares, Divis Labs’ strong performance highlights its appeal to investors amid favorable market conditions.
HCL Tech: HCL Technologies also made a significant move, reaching ₹1,830.00, gaining ₹21.35, a 1.18% rise. Trading volumes hit 912.78k shares as the IT services major continues to build on its recent positive momentum.

These stocks showcase strong investor confidence and are likely to be closely watched for continued growth in the coming sessions.

CG Power shares surge 2% after company acquires Renesas’ RF Components business

Aman Shukla — Mon, 07 Oct 2024 08:12:22 +0000

CG Power and Industrial Solutions shares jumped more than 2% after the company agreed to acquire the Radio Frequency (RF) Components business from Renesas Electronics America Inc. and its affiliates.

The RF Components acquisition includes equipment, intellectual property, inventories, customer contracts, licenses and key transferring employees. The acquisition is expected to be completed within 6 months, subject to regulatory approvals, including clearance from the Committee on Foreign Investment in the United States.

CG Power shares opened at ₹718, reaching a high of ₹739 and a low of ₹709. The stock is trading between a 52-week high of ₹814.40 and a low of ₹359.20.

As of 1:39 pm, CG Power shares were trading 2.29% higher at Rs 735.20 on the NSE.

CG Power acquires Renesas’ RF Components business to enter semiconductor design

Aditya Bhagchandani — Sat, 05 Oct 2024 08:15:44 +0000

CG Power and Industrial Solutions Limited has entered into an agreement to acquire the Radio Frequency (RF) Components business from Renesas Electronics America Inc. and its affiliates.

The RF Components business being acquired includes equipment, intellectual property, inventories, customer contracts, licenses, and key transferring employees. The transaction is expected to be completed within six months, subject to regulatory approvals, including clearance from the Committee on Foreign Investment in the United States (CFIUS).

Vellayan Subbiah, Chairman of CG Power, highlighted the prominence of Indian semiconductor designers globally. He noted that through this acquisition, CG aims to strengthen India’s role in the semiconductor design space. The company aims to further expand its footprint in this high-growth market and contribute to the country’s standing in this sector.

Renesas, a key supplier of advanced semiconductor solutions, sees this transaction as an opportunity for its RF team to grow and for CG to deliver strong support and technology to its customers. The acquisition is valued at around USD 36 million and will be executed through one or more subsidiaries set up by CG Power.

CG Power, part of the Murugappa Group, has a strong presence in the electrical engineering sector with business lines in Industrial Systems and Power Systems. With manufacturing plants across India and one in Sweden, the company has a diverse portfolio, producing traction motors, transformers, and consumer appliances. The company’s entry into the semiconductor design business, facilitated by this acquisition, aligns with its broader vision to expand and strengthen its product offerings and market position.

CG Power share price jumps 7% on Cabinet nod for semiconductor unit

Aditya Bhagchandani — Fri, 01 Mar 2024 03:50:39 +0000

Shares of CG Power surged 7% after the Union Cabinet of India gave a nod for setting up a semiconductor unit for specialised chips at an outlay of Rs 7,600 crore.

The government is offering incentives of up to Rs 76,000 crore to boost domestic semiconductor manufacturing, crucial components of electronic devices used in mobile phones, laptops, refrigerators, washing machines, automobiles, and more.

Among the proposals was CG Power’s partnership with Renesas Electronics Corp and Stars Microelectronics of Thailand to establish a unit in Sanand, Gujarat, with an investment of Rs 7,600 crore. Renesas, a leading semiconductor company, focuses on specialized chips and operates 12 semiconductor facilities, playing a key role in microcontrollers, analog, power, and system-on-chip products.

The planned plant will have a capacity for producing 15 million chips per day, and CG Power’s semiconductor unit will manufacture chips for consumer, industrial, automotive, and power applications. Collectively, the three proposals entail investments worth over Rs 1.26 lakh crore.

Murugappa Group’s CG Power and Industrial Solutions Ltd received approval from the Union Cabinet to set up a semiconductor unit for specialized chips with an outlay of Rs 7,600 crore.

As of 9:15 am, the shares were trading 7% higher on NSE at 472.50.

CG POWER stock jumps 20% from day’s low: Here’s Why

Aditya Bhagchandani — Wed, 22 Nov 2023 07:14:07 +0000

On November 23, CG Power and Industrial Solutions unveiled plans to establish an outsourced semiconductor assembly and test facility in India, committing an investment of approximately $791 million over the next five years.

The company formally submitted the application for this initiative to the Ministry of Electronics and Information Technology (MeitY), simultaneously expressing a desire for subsidies to support the project.

In an official statement provided to the stock exchange, CG Power and Industrial Solutions conveyed, “We wish to inform you that the Company has today filed an application with Ministry of Electronics and Information Technology (MeitY), Government of India seeking approval to set up an Outsourced Semiconductor Assembly and Test (OSAT) facility and the grant of subsidy for the said project under the modified scheme for setting up of compound semiconductors/silicon photonics/sensors fab/discrete semiconductors fab and semiconductor assembly, testing, marking, and packaging (ATMP) facilities in India.”

The company’s shares exhibited a significant uptick, trading 20% higher at ₹469.35, reflecting positive market sentiment towards CG Power’s strategic move in contributing to the semiconductor landscape in India.

Forensic Audit finds irregularities within CG Power

Aditi Swarup — Tue, 08 Sep 2020 14:00:20 +0000

A forensic audit, commissioned by BSE(formerly Bombay Stock Exchange), confirmed financial irregularities within CG Power.

As a result, the Securities Exchange Board of India (SEBI) sent a formal notice to the company. The forensic audit was given to CG Power for their comments.

In their filing, the company said, “Pursuant to the Interim Order of Sebi, BSE had appointed a forensic auditor to verify the books of accounts, wrongful diversion / siphoning of Company’s funds and other related matters for period 2015-16 till the date of the Interim Order. The forensic auditor completed its audit and has submitted its report to Sebi. The company has received a copy of the Report from Sebi on September 4, 2020.”

The company has already started recovery from its former directors and KMPs. The filing by the company added, “The company has filed a suit for recovery against identified promoter affiliate company, former directors connected with the promoter group and former KMPs (key managerial personnel) for recovery of sum of ₹1416.07 crore for siphoning off funds. This suit is in addition to suits filed by the Company towards the loss caused to a company’s subsidiary, for sum of ₹1709.46 crore.”

Sebi sends notice to CG Power as forensic audit finds fund diversion https://t.co/gRJsNyI15R via @livemint

— Jayshree P Upadhyay (@jaysh88) September 8, 2020

CG Power and Industrial Solution Ltd. in plans to raise Rs 100 crore through preferential securities issue

Chittesh Dalmia — Sun, 30 Aug 2020 17:49:44 +0000

CG Power and Industrial Solutions Limited is in plans to raise Rs 100 crore through issue of securities on a preferential basis in accordance with applicable laws.

The Company has scheduled a Board Meeting on September 2, Wednesday to consider the further fund raising activities.

In a late night BSE regulatory filing on August 30th, the Mumbai based company said. “Pursuant to Regulation 29 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, we wish to inform you that, a Meeting of the Board of Directors of the Company is scheduled to be held on Wednesday, September 2, 2020, to consider amongst other businesses, further fund raising through issue of securities on a preferential basis upto INR 100 Crores in accordance with applicable laws.

CG Power and Industrial Solutions Limited (previously known as Crompton Greaves) is an Indian multinational company engaged in manufacturing and marketing of products related to power generation, transmission and distribution.

Recently, Murugappa Group’s Tube Investments of India acquired stake in the company. Read here.

On August 28th , the share closed at Rs 21.35 on the National Stock Exchange.