CG Power Reports ₹313 Crore Q1 Profit, Up 16.2%; Approves ₹35.17 Crore Nashik Expansion
CG Power and Industrial Solutions announced a 16.2% increase in consolidated net profit to ₹313.01 crore for the first quarter ended June 30, 2026. The company's board also approved a ₹35.17 crore brownfield expansion project in Nashik to double manufacturing capacity
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Mumbai: CG Power and Industrial Solutions Ltd on Thursday reported a consolidated net profit attributable to owners of the company of ₹313.01 crore for the quarter ended June 30, 2026. This marks a 16.2% rise from ₹269.23 crore in the same quarter last year.
Revenue From Operations
The company's consolidated revenue from operations for the first quarter stood at ₹3,280.81 crore. This represents a 14% increase compared to ₹2,878.05 crore in the corresponding quarter of the previous fiscal year.
Total Expenses
Total consolidated expenses for the quarter ended June 30, 2026, were ₹2,941.51 crore. This is higher than ₹2,542.52 crore reported in the first quarter of the previous financial year.
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Earnings Per Share
Basic earnings per share (EPS) for continuing operations increased to ₹1.99. This is up from ₹1.76 reported for the quarter ended June 30, 2025.
Nashik Expansion Approved
The board approved a brownfield expansion project for manufacturing Extra High Voltage (EHV) Gas Insulated Switchgear (GIS) at Vilholi, Nashik. The estimated project cost is ₹35.17 crore, net of taxes.
Capacity Doubling
The expansion aims to double the existing manufacturing capacity for GIS. The company noted that its current EHV GIS facility is operating at full capacity, with constraints in production and physical space.
Project Timeline
The project is expected to be completed within 4 to 6 months. Most assets from this brownfield project are planned for transfer to a greenfield facility upon its commissioning.
Funding
The expansion will be financed through internal accruals or equity. The company's current and projected order pipeline necessitates this capacity increase to meet higher order intake.
Disclaimer: This report is based on the company's filed financial results (standalone or consolidated, as applicable) and is intended solely for informational purposes. It does not constitute investment advice or a recommendation to buy, sell or hold any security.
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