CG Power

Shares of CG Power and Industrial Solutions surged up to 2.63 per cent at Rs 754.80 per share on the NSE in Wednesday's intraday deals

Recently, CG Power entered a corrective phase, leading to a healthy 175-point pullback, which represents about a 20 per cent decline from its recent high

Management expects power transformer capacity to reach 35k MVA by March 2025 and shared plans to take it to 40k MVA

CG Power's share price rose after the company announced that it has inked a deal to acquire Radio Frequency (RF) Components business of Renesas for $36 million in an all-cash deal

CG Power and Industrial Solutions has completed the acquisition of G G Tronics for Rs 319 crore, the company said. In a BSE filing on Tuesday, the company said it has completed the acquisition of G G Tronics on August 20. Last month, the company entered into definitive agreements for acquisition of 55 per cent stake of GG Tronics through a combination of purchase of equity shares from GGT promoters and by way of subscription to compulsorily Convertible Preference Shares for an aggregate consideration of Rs 319.38 crore. Pursuant to the completion of the said acquisition, GG Tronics is now a subsidiary of the company with effect from August 20, 2024, it said.

CG Power and Industrial Solutions Ltd on Wednesday reported a 21 per cent hike in its standalone profit after tax of Rs 232.13 crore for the April-June 2024 quarter. The company, part of the diversified conglomerate Murugappa Group, had registered a profit after tax of Rs 192.06 crore during the corresponding quarter of last year. For the financial year ending March 31, 2024 the standalone profit after tax stood at Rs 1,004.36 crore. Total standalone income during the quarter under review grew to Rs 2,139.76 crore from Rs 1,791.91 crore registered in the corresponding quarter of last year. For the financial year ending March 31, 2024 the standalone total income stood at Rs 7,760.80 crore. In a statement, the company said the aggregate sales for the quarter were higher at Rs 2,106 crore recording a growth of 19 per cent year-on-year. Margins were higher at 15.4 per cent of sales on account of higher realisations, favourable product mix and cost efficiencies in power ...

Kaul has over 30 years of total work experience, 12 years of which has been overseas experience

At 10:16 AM, all constituents of the BSE Power Index were trading in negative territory

The company registered standalone profit after tax (PAT) of Rs 240.59 crore for Q4FY24, slightly higher than Rs 240.23 crore from the corresponding period last year

The joint venture between CG Power, Renesas Electronics Corp and Stars Microelectronics (Thailand) will set up an outsourced semiconductor assembly and test (OSAT) facility in India

Ground-breaking likely on Mar 13; incentives form 70% of project cost

Facility will be financed through a mix of subsidies, equity and potential bank borrowings

JV investments will be completed only after satisfactory completion of the conditions in the agreement, and getting necessary approvals from the relevant government agencies

CG Power and Industrial Solutions on Tuesday reported a 15.45 per cent decline in its consolidated net profit to Rs 197 crore in the December quarter, as the company had an exceptional income in the year-ago period . The company's consolidated net profit (from continuing operations) was Rs 233 crore a year ago, according to a regulatory filing. The company said there was an exceptional income of about Rs 31 crore in the quarter ended on December 31, 2022, while there was no such adjustment in the same period of 2023. Total income rose to Rs 2,006.79 crore in the third quarter from Rs 1,787.01 crore a year ago. The company's consolidated results include the performance of the operating subsidiaries in Sweden, Germany and the Netherlands (drives and automation Europe), CG Adhesives Products Ltd. (India) and other non-operating and holding subsidiaries, the filing said. In a meeting held on Tuesday, the company's board approved the payment of an interim dividend of Rs 1.30 per equity

Power and industrial equipment solutions provider CG Power and Industrial Solutions Ltd has reported a 56.4 per cent rise in its consolidated profit after tax (PAT) for the quarter ending June 30, 2023, at Rs 203.84 crore, the company said on Thursday. The company, part of the diversified conglomerate Murugappa Group, reported consolidated PAT at Rs 129.93 crore registered in the corresponding period of last year. For the year ending March 31, 2023, the consolidated profit after tax stood at Rs 962.97 crore. The consolidated total income during the April-June quarter grew to Rs 1,896.15 crore, as against Rs 1,651.95 crore registered in the same period of last year. For the year ending March 31, 2023, the consolidated total income was at Rs 7,040.30 crore. The company, in a statement, said an exceptional item for the quarter represents net gain on the dissolution of one of the subsidiaries of the group -- CG Power Solutions UK Ltd.

CG Power and Industrial Solutions on Monday said its consolidated profit after tax (PAT) rose multi-fold to Rs 428.22 crore in March quarter 2022-23 on account of increased income. It had reported a PAT of Rs 111.65 crore for the year-ago quarter, the company said in a BSE filing. Total income surged to Rs 1,917.05 crore from Rs 1,492.77 crore in January-March FY22. Total expenses rose to Rs 1,654.63 crore from Rs 1,358.03 crore a year ago. CG Power is an engineering conglomerate with diverse portfolio of products, solutions and services for power and industrial equipment and solutions.

India's market regulator penalised two former auditors of CG Power and Industrial Solutions Ltd on Thursday for rule violations, according to an order published on the regulator's website.

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The CBI has filed a charge sheet against CG Power and Industrial Solutions and its former promoter Gautam Thapar in an alleged Rs 2435-crore bank fraud case that affected 12 banks, officials said. This comes after the agency conducted a probe for nearly 19 months into the allegations of diversion of bank funds, and manipulation of account books among other charges against the company, Thapar and other senior executives, they said. Thapar is already facing multiple probes into his alleged links with Yes Bank co-founder Rana Kapoor who was booked by the CBI under corruption and fraud charges. In its charge sheet filed before a special court, the CBI has alleged that huge amounts of bank loans were diverted by the accused to related parties for which adjustment entries were made in the account books, they said. The investigations showed that the accused availed loans against securities without disclosing credit facilities availed from other banks, they said. The accused borrowed fun

CG Power and Industrial Solutions on Wednesday reported 11 per cent decline in consolidated net profit at Rs 178.97 crore for September quarter 2022-23. The company logged a profit of Rs 201.78 crore in the quarter ended September 30, 2021, a BSE filing stated. However, its total income rose to Rs 1,707 crore in the quarter from Rs 1,468.56 crore in the same period a year ago. The board in its meeting also approved a proposal to expand the manufacturing capacity of motors at its Ahmednagar and Goa plants with a capital outlay of Rs 230 crore. The proposed expansion would increase the capacity to 19.92 lakh low tension motors per annum, from the existing capacity of 9.93 lakh per annum. The current capacity utilisation is around 80 per cent. The expansion project will be implemented in 2 phases over a period of 4 years and will be funded through internal accruals. The expansion is proposed considering the expected increase in future demand for AC motors. The board also approved on