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CG Power and Industrial Solutions Ltd on Tuesday reported a 17 per cent year-on-year (y-o-y) rise in consolidated net profit to Rs 274.26 crore in the March quarter, on account of higher income. It had posted a net profit (profit after tax) of Rs 233.81 crore in the January-March period of the preceding financial year 2023-24, the company said in an exchange filing. The company's total income rose to Rs 2,824.19 crore from Rs 2,239.83 crore in the year-ago quarter. For the entire FY25, the profit was at Rs 972.98 crore, down from Rs 1,427.61 crore in FY24. Total income rose to 10,070.83 crore from Rs 8,152.24 crore in FY24. In a separate statement, the company said the consolidated results include the performance of the operating subsidiaries in Sweden, Germany, and Netherlands (Drives and Automation Europe), CG Adhesives Products Ltd (India), CG Semi Pvt. Ltd (India), GG Tronics India Pvt Ltd, Axiro Semiconductor Private Ltd, and other non-operating subsidiaries. In the March ..
CG Power and Industrial Solutions on Wednesday said it has received approval from the Committee on Foreign Investment in the United States for a USD 36 million deal to acquire the Radio Frequency (RF) components business of Japan-based Renesas Electronics Corporation. "The regulatory approval from the Committee on Foreign Investment in the United States has been obtained on 10th March, 2025 and received by us on 11th March, 2025," a regulatory filing said. Earlier in October, CG Power and Industrial Solutions has inked a pact to acquire the Radio Frequency (RF) components business of Japan-based Renesas Electronics Corporation for a cash consideration of USD 36 million. An asset purchase agreement was executed on October 4, 2024 between CG and Renesas Electronics America Inc, a subsidiary of Renesas, and other affiliated entities of Renesas, that have assets in the RF components business. As per the pact, Murugappa Group firm CG Power will acquire Intellectual Property (IP), tangib
CG Power and Industrial Solutions on Tuesday said it has secured an order of Rs 450 crore for supply of railway products for Vande Bharat trainsets. Apart from this purchase order, a separate 35-year service order is also a part of the long-term agreement, a company statement said. " CG Power and Industrial Solutions Ltd (CG) has entered into a long-term supply agreement with Kinet Railway Solutions Limited for supply and servicing of railway products including propulsion kits with motors, transformers and various other items," the company said in a BSE filing. The first purchase order, ranging between Rs 400-450 crore, has been secured by the company for supply of railway products for 10 Vande Bharat trainsets. Since its inception 86 years ago, CG has established a strong foothold in the railway industry, offering a comprehensive portfolio that includes traction machines & systems, rail transportation traction electronics, among others. The company is a leader in the Electrical .