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Informist, Monday, May 4, 2026

By Astha Oriel

New Delhi – CG Power and Industrial Solutions Ltd. is expected to post a moderate year-on-year rise in its consolidated top line and bottom line for the March quarter, according to brokerages tracking the company. The company's revenue is expected to rise, driven by healthy execution of the order book in the power systems segment and industrial systems, analysts said. The company's operating margin is expected to expand, supported by recent price hikes in motors, stable power system margins quarter-on-quarter, and a favourable mix from a higher power systems contribution.

The company's consolidated net profit is estimated at INR 3.34 billion, up nearly 23% on year and more than 4% sequentially, according to the average of estimates by five brokerages. Nomura Equity Research has the highest estimate at INR 3.6 billion, whereas the lowest estimate is INR 3.21 billion by Equirius Securities Pvt. Ltd. The company will announce its March quarter earnings on Wednesday.

The company's net sales are estimated at INR 33.94 billion, up more than 23% on year and nearly 7% sequentially, according to the brokerages. Kotak Securities Ltd. has the highest estimate of net sales at INR 35.56 billion, whereas the lowest estimate is INR 32.50 billion by Nuvama Wealth Management Ltd.

Equirius Securities Pvt. Ltd. expects revenue from the power system business to grow 38% on year, whereas Nomura Equity Research expects it to grow 53% and industrial system revenue to grow 5%.

In the December quarter, power systems accounted for nearly 46% of the company's revenue from operations, whereas industrial systems accounted for more than 54% of the revenue. Nomura expects the company's order inflows at INR 48.1 billion. In the year-ago quarter, the company's order inflow was INR 36.50 billion.

The company's earnings before interest, tax, depreciation, and amortisation are pegged at INR 4.35 billion, up nearly 7% on year but down more than 9% on quarter, according to the brokerages' estimates. Kotak Securities Ltd. has the highest estimate of EBITDA at nearly INR 4,70 billion, whereas the lowest estimate is INR 4.03 billion by Nuvama Wealth Management.

The company's EBITDA margin is expected to contract to 12.4-13.3% in the March quarter from 15.2% in the year-ago quarter, according to three brokerages' estimates.  

Analysts will watch for the management's commentary on inorganic opportunities for the company, the demand outlook for short-cycle products, and the capital expenditure plan for outsourced semiconductor assembly and text facility in Gujarat.

On Monday, shares of the company closed 1.4% lower at INR 802.30 on the National Stock Exchange. This is over 51% higher than their level on Jan. 27, when the company detailed its December quarter earnings.

All three brokerage reports on the company available with Informist have a 'buy' recommendation on the stock with an average target price of INR 798, nearly 1% lower than the current share price.

Following are the March quarter earnings estimates for CG Power and Industrial Systems from five brokerages in descending order of the estimate of net profit in INR billion:

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Edited by Akul Nishant Akhoury

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