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Informist, Tuesday, Jan. 27, 2026

 

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--CG Power: Don't see any slowdown in order pipeline
--CONTEXT: Comments by CG Power mgmt in post-earnings analyst call
--CG Power: May go for price hikes if commodity costs don't behave well
--CG Power: Not really worried about competition from Chinese players
--CG Power: Exports order pipeline up almost 50% in last 9 months
--CG Power: See outsourced semiconductor assembly, test M2 unit ready Q4 FY27
--CG Power: Almost ready with EV motors for 3-wheelers

 

By Astha Oriel and Sunil Raghu

 

MUMBAI – CG Power and Industrial Solutions Ltd. Tuesday said in a post-earnings investor call that the combined exports of its power systems and industrial systems segments rose more than 50% in the nine months ending Dec. 31, even as exports to the US slowed because of the tariffs imposed by the Donald Trump administration. The management, however, refused to disclose the amount of exports clocked in Apr-Dec.

 

Continuing on the theme of exports, the management cited the Jan. 16 announcement of its largest single order win, worth INR 9 billion, from US-based Tallgrass Integrated Logistics Solutions LLC for a data centre in the US. "We have been working on this for the last two years... the vertical focus of the industry," the management said, "and that has started giving us some of these results. So we have a firm opinion that we're risking strategy of being domestically strong as well as keep divesting a bit outside India as well so that we focus on both sides."

 

The electrical engineering solutions company reported a net profit of INR 2.85 billion for the December quarter, up over 18% on year but flat sequentially. Its revenue from operations was INR 31.75 billion, up more than 26% on year and nearly 9% on quarter.

 

For the December quarter, the company's order intake was INR 40.96 billion. Of this, the intake of orders by the industrial systems segment was INR 20.50 billion whereas the intake in the power systems segment was INR 20.46 billion. The management said that going ahead it does not see any slowdown in the company's order pipeline.

 

The company is a manufacturer of both low-tension and high-tension motors. It said it might go for price hikes if commodity costs do not "behave" well. 

 

With speculation rife about the finance ministry easing curbs and allowing Chinese players to bid for government projects, CG Power's management said the company has been interacting with various ministries, utility companies, and customers. "So, honestly, we are not really worried about that, even if Chinese players come in," it said. "Important is level playing field." The management added that it aims to be operationally efficient to compete with Chinese or any other players.

 

The company said it doesn't feel any pressure on margins and pricing due to the potential entry of Chinese players. For its outsourced semiconductor assembly and test, or OSAT, business, the company's M1 manufacturing facility is already operational. It expects the larger M2 plant to be ready by December and start operations in the fourth quarter of the financial year 2026-27 (Apr-Mar).

 

The company had earlier announced that it plans to foray into the electric vehicles segment and will be producing electric motors and controllers for electric three-wheelers and electric trucks. As part of that plan, the management said the company is almost done with electric vehicle motors and controllers for three-wheelers. For trucks, discussions are still on for transfer of technology, it said.

 

CG Power and Industrial Solutions is part of the Murugappa Group, which manufactures electric three-wheelers through its subsidiary Montra Electric. Shares of the company closed 3.2% lower Tuesday at INR 532 on the National Stock Exchange.  End

 

Edited by Rajeev Pai

 

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