CG Power slips after reporting suspected cybersecurity incident on IT systems

CG Power and Industrial Solutions slipped 3.20% to Rs 865.30 after the company informed about the occurrence of a suspected cyber event on its IT systems.

In a regulatory filing made post market hours yesterday, the company said that there has been a suspected cyber event on the firm's IT systems.

"However, the event has not impacted the core systems and operations of the company," CG Power stated.

The company is working closely with a specialized team of external and internal cybersecurity experts to assist in investigations, remediation and mitigation.

Following the announcement, shares of CG Power witnessed significant selling pressure, wiping out Rs 4,403.38 crore from the companys full market capitalisation.

 

CG Power & Industrial Solutions is a global enterprise providing end-to-end solutions to utilities, industries, and consumers for the management and application of efficient and sustainable electrical energy. It offers products, services, and solutions in two main business segments, viz., Power Systems and Industrial Systems.

The company reported a 16.26% jump in consolidated net profit to Rs 313.01 crore on a 13.99% rise in revenue from operations to Rs 3,280.81 crore in Q1 FY27 over Q1 FY26.

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