CG Power and Industrial Solutions

“So, I'm pretty hopeful that we either maintain or go above these margins.”

“And our aspiration definitely is to keep high double-digit growth.”

“So, first piece about the total investment CG has made so far is around INR1,000 crores.”

“almost INR1,000 crores we got that central government capital support, right? So, INR2,000 crores we already spent.”

“The enhancement primarily provides for procurement of 800 kV high-voltage testing system, along with contingency to enable testing of 245 kV and 400 kV gas-insulated switchgears.”

“See, I think this will be linked to our business plan because the way we look at next year, year after coming in, that's why we are making these investments now.”

“So, right now, this calculation is based at approximately 70,000 MVA, because that's the direction we are getting into.”

“The existing plant, which we have in Bhopal, that's about 65,000 MVA. The new plant will start, hopefully, the quarter should be about 10,000 MVA-plus. Then you have distribution transformer, which is about 12,000MVA approximately.”

“On 4th of September, the greenfield facility was made operational within 13 months and is spread over 50-plus acres.”

“CG's existing manufacturing facility in Switchgear business is witnessing peak capacity utilization.”

“And the existing power transformer manufacturing facility, which we name as T3, is currently operating at its maximum capacity.”

“Order intake for the quarter was INR8,016 crores, which is 90% growth year-over-year and unexecuted order backlog as of 30th September 2026 was INR21,820 crores, which is 61% higher year-over-year.”

“Order intake for the quarter was INR1,758 crores, which is 12% year-over-year and unexecuted order backlog as of 30th September remains healthy at INR2,856 crores, providing visibility for the coming quarters.”

“Order intake for the quarter was INR6,258 crores, which is 137% growth year-over-year and unexecuted order backlog as of 30th September was INR18,964 crores, which is 81% up, providing again the multi-quarter visibility.”

“No, it's not material. If it was material, then we would have informed the stock exchange.”

“So, year-over-year increase during quarter is about 200% for the exports.”

“Aggregate sales for the quarter was INR1,738 crores, which is 25% year-over-year, driven by strong growth across all the businesses.”

“The aggregate sales for the quarter was INR1,769 crores with a sharp rise of 41% year-over-year, supported by the disciplined execution using our vehicle of CG EDGE.”

“So railways, I would say, flat or it might go down as well. And that's a conscious decision.”

“for a year or so, we will not have huge improvements in the railway side because that's the time we want to use to build on our capabilities around technology and what is required for the market.”

“Kavach should start very soon because most of the approvals are in place. We're just waiting for the final approval. So, it should happen anytime now, definitely in the current quarter.”

“if I look at the orders that have come in, it's right from utility companies to your AI to your data centers. So, its domestic, exports, it's a combination of all of those.”

“And that's a long-term work that is happening in parallel. And as you know, it takes time.”

“And for us, it doesn't matter, whether it's 400 kV or 765 even up to 1,200, we are fully equipped to cater to the whole range.”

“In view of the increasing order pipeline and growing demand for extra high-voltage products and in order to cater to the growing domestic and export demand, CG proposes to undertake the following capital expenditure projects.”

“But again, that's not the only thing we are banking on for the American market.”

“So 180 bps, better margin improvement year-over-year, primarily driven by the Power Systems segment and also a contribution from our Motors business as well.”

“PBIT was at INR164 crores, which is 9.4% of the sales against INR135 crores in Q2 last year, which is 60 bps improvement in a sequential manner versus the previous quarters, driven by the margin expansion in motors.”

“PBIT was at INR443 crores, which is 25% of sales as against INR260 crores, which was 20.7% of sales in Q2 financial year '26. 430 basis points improvement year-over-year, underpinned by the strong price realization and better operating leverage amid resilient demand.”

“Now margin expansion led by strong power performance, partially offset by continued talent investments that we are doing in our subsidiaries like CG Semi and Axiro, which is a semiconductor business and the impact of about INR35 crores, which is 91 bps.”

“So we increased the prices upwards of 30% plus in the last 12 months, if I look at it.”

“And every 45 days, we are launching additional frame that is coming into the picture. So, so that'll upgrade our whole portfolio over the next 9 months to 12 months.”

“in parallel, we are also looking at advanced technologies, whether it's the permanent magnet motor or it is the IE5-plus kind of motors, which will help us open the doors for export market as well.”

“Axiro Semiconductor, which is a wholly owned subsidiary of CG, acquired 100% of equity stake in TOSIL Systems Private Limited for INR16.44 crores.”

“And I think over the next few quarters and years, you will see us getting ourselves deeper into the holistic solution over and above what we are already doing.”

“It could be anything because we are looking at both.”

“And we have a leadership change also there. We have a new leader joining in, Samit, who is on the call as well.”

“we also have on the call, you know, our Chief Technology Officer, who joined us recently.”

“Worst-case scenario, if it goes, then definitely, there could be a risk in terms of some of the orders may lapse next quarter, end of next quarter, but it doesn't mean that it's lost kind of thing.”

“So, that work is going on -- depends on the customer and the country. So, somewhere it is required, somewhere it's not required.”

“So, from all our technical people to everybody, they were all hired much in advance, and since we already have the existing plant, so a lot of these people were trained on the job, in action, for almost 6 months to 12 months.”

“So, right now, for our ramp-up plan on the order book that we have placed on the new facility, there's no bottleneck there.”

“Now as I go deeper into the standalone performance, aggregate sales for the quarter was at INR3,505 crores, recording a growth of 32% year-over-year.”

“PBT had a growth of 47% at INR602 crores, which is 17.2% of sales as against INR409 crores, which was 15.4% in Q2 in the previous year.”

“Return on capital employed annualized was at 27%.”

“Aggregate sales for the quarter was up at INR3,802 crores and a growth of 30%.”

“Profit before tax was 44% higher at INR559 crores, which is 14.7% of sales as against INR388 crores, which was 13.3%.”