Mumbai, India – January 28, 2025: CG Power and Industrial Solutions Limited (NSE: CGPOWER, BSE: 500093) has announced its unaudited standalone and consolidated financial results for Q3 FY2024-25, reporting a revenue of ₹2,515.68 crore and a net profit of ₹237.85 crore. The Board also approved a ₹712 crore investment in a new transformer manufacturing plant and the appointment of Mammen Chally as an Independent Director.
Key Financial Highlights – Q3 FY2024-25 (Standalone)
- Revenue from Operations: ₹2,388.97 crore (YoY increase of 28.4% from ₹1,860.22 crore)
- Total Income: ₹2,420.13 crore
- Profit Before Tax (PBT): ₹337.59 crore (YoY increase of 19.8% from ₹281.75 crore)
- Net Profit (PAT): ₹244.27 crore (YoY increase of 12.8% from ₹216.47 crore)
- Earnings Per Share (EPS): ₹1.60 per share.
Nine-Month Performance (April – December 2024) (Standalone)
- Total Revenue: ₹6,765.57 crore (YoY increase of 22.4% from ₹5,526.37 crore)
- Profit Before Tax (PBT): ₹960.91 crore
- Net Profit (PAT): ₹698.97 crore
- Earnings Per Share (EPS): ₹4.57 per share.
Key Financial Highlights – Q3 FY2024-25 (Consolidated)
- Total Revenue: ₹2,515.68 crore (YoY increase of 27.1% from ₹1,978.75 crore)
- Profit Before Tax (PBT): ₹334.86 crore
- Net Profit (PAT): ₹237.85 crore
- Earnings Per Share (EPS): ₹1.57 per share.
Strategic Developments & Key Announcements
- New Transformer Manufacturing Facility Approved:
- ₹712 crore investment for a Greenfield Transformer Plant in Western India.
- The planned capacity of 45,000 MVA to serve domestic and export markets.
- Expected completion by FY2027-28.
- Appointment of Mammen Chally as Independent Director:
- Former Portfolio Manager at Wellington Management Company, LLP.
- Over 30 years of global investment experience.
- Expertise in business transformations and governance.
- Acquisition of RF Components Business:
- New wholly owned subsidiaries incorporated: Axiro Semiconductor Pvt Ltd & Axiro Semiconductor Inc.
- Definitive agreement with Renesas Electronics America Inc. for RF Components acquisition.
- Subject to regulatory approvals, including CFIUS clearance in the U.S..
Management Commentary
Aram Kaul, Managing Director & CEO of CG Power, stated:"Our strong financial performance reflects our commitment to growth and innovation. The new transformer plant and RF Components acquisition will further enhance our capabilities and market reach.".
Market Outlook & Investor Takeaways
- New transformer plant to strengthen CG Power's market presence in domestic & export markets.
- RF Components acquisition to expand the company's semiconductor footprint.
- Consistent revenue and profit growth reinforce investor confidence.