Page 2 - Cg Power And Industrial Solutions

This electrical equipment stock has catapulted over 8000% in 4 years

The joint venture between CG Power, Renesas Electronics Corp and Stars Microelectronics (Thailand) will set up an outsourced semiconductor assembly and test (OSAT) facility in India

CG Power to form JV with 2 foreign entities for OSAT facility in India

Murugappa Group company CG Power and Industrial Solutions has signed an agreement with two foreign entities to set up an Outsourced Semiconductor Assembly and Test facility and plans to invest Rs 7,600 core in India over five years. The two entities are Renesas which is a leading semiconductor company headquartered in Japan and Stars Microelectronics, a Thailand-based Outsourced Semiconductor Assembly and Test (OSAT) provider, CG Power and Industrial Solutions (CG) said in an exchange filing on Friday. "CG, a part of Tube Investments of India Limited and the Murugappa Group, Renesas Electronics Corporation (Renesas) and Stars Microelectronics (Thailand) Public Co. Ltd (Stars Microelectronics) recently signed a Joint Venture Agreement (JVA) to establish a Joint Venture (JV) to build and operate an OSAT facility in India," the filing said. The JV will be 92.3 per cent owned by CG, with Renesas and Stars Microelectronics each holding equity capital of approximately 6.8 per cent and 0.9

CG Power JV to invest Rs 7600 cr in Gujarat semiconductor facility

Facility will be financed through a mix of subsidies, equity and potential bank borrowings

CG Power surges 11% as JV to set up Rs 7,600-cr semiconductor unit

The Cabinet, on Thursday, approved the setting up of three semiconductor plants including CG India's. The construction of these plants will start in the next 100 days

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CG Power and Industrial reports Q3 standalone PAT at Rs 216.47 crore

CG Power and Industrial Solutions Ltd has reported a standalone profit after tax of Rs 216.47 crore for the October-December 2023 quarter, the company said in a statement on Wednesday. The company's standalone PAT for the corresponding quarter of last financial year was Rs 242.75 crore. For the nine months ending on December 31, 2023, the company's standalone PAT grew to Rs 763.77 crore from Rs 545.13 crore registered during the same period of last year, the Murugappa Group company said in the statement. During the quarter under review, the company realised that there was a weak demand for motors and took a strategic call to sell aggressively to retain their customers and protect its turf. This strategy had an effect of margins dipping on one hand while simultaneously helping gain a market share on the other, the company said. The standalone total income during the quarter under review went up to Rs 1,914.86 crore from Rs 1,680.30 crore registered in the corresponding period of the

CG Power and Industrial Solutions Q3 net profit falls 15% to Rs 197 crore

CG Power and Industrial Solutions on Tuesday reported a 15.45 per cent decline in its consolidated net profit to Rs 197 crore in the December quarter, as the company had an exceptional income in the year-ago period . The company's consolidated net profit (from continuing operations) was Rs 233 crore a year ago, according to a regulatory filing. The company said there was an exceptional income of about Rs 31 crore in the quarter ended on December 31, 2022, while there was no such adjustment in the same period of 2023. Total income rose to Rs 2,006.79 crore in the third quarter from Rs 1,787.01 crore a year ago. The company's consolidated results include the performance of the operating subsidiaries in Sweden, Germany and the Netherlands (drives and automation Europe), CG Adhesives Products Ltd. (India) and other non-operating and holding subsidiaries, the filing said. In a meeting held on Tuesday, the company's board approved the payment of an interim dividend of Rs 1.30 per equity

CG Power zooms 20% on plan to set-up subsidy-backed new semiconductor unit

The company today filed an application seeking government nod to set up an Outsourced Semiconductor Assembly and Test (OSAT) facility and the grant of subsidy for the said project.

CG Power and Industrial Solutions Q2 net profit up 37% to Rs 244 crore

CG Power and Industrial Solutions on Friday posted a 37 per cent growth in consolidated net profit to Rs 244 crore in the September quarter, mainly on the back of higher revenues. The company's profit was at Rs 178 crore in the quarter ended September 30, 2022, a BSE filing said. Total sales of the company increased to Rs 2,002 crore during the quarter under review from Rs 1,675 crore in the same period a year ago. The consolidated results include the performance of the company's operating subsidiaries in Sweden, Germany, and the Netherlands (Drives and Automation Europe), as well as CG Adhesives Products Ltd (India), and other non-operating and holding subsidiaries, the filing said. According to the filing, the company's Board of Directors on Friday approved a proposal to expand the manufacturing capacity of switchgears at its Nashik plant with the investment of Rs 155 crore, power transformers in Bhopal with an allocation of Rs 31 crore (for addition of 10,000 MVA capacity) and H

CG Power surges 4% in weak market, hits new high on strong biz outlook

Thus far in the calendar year 2023, the stock has rallied 59 per cent as compared to 6 per cent rise in the S&P BSE Sensex

CG Power and Industrial Solutions' Q4 profit after tax rises to Rs 428 cr

CG Power and Industrial Solutions on Monday said its consolidated profit after tax (PAT) rose multi-fold to Rs 428.22 crore in March quarter 2022-23 on account of increased income. It had reported a PAT of Rs 111.65 crore for the year-ago quarter, the company said in a BSE filing. Total income surged to Rs 1,917.05 crore from Rs 1,492.77 crore in January-March FY22. Total expenses rose to Rs 1,654.63 crore from Rs 1,358.03 crore a year ago. CG Power is an engineering conglomerate with diverse portfolio of products, solutions and services for power and industrial equipment and solutions.

Stock of this Murugappa Group company has zoomed over 100% in 9 months

CG Power hit a new high of Rs 327, surging 5 per cent in the intra-day trade, after MSCI decided to include the Murugappa Group company in India index

CG Power hits new high on heavy volumes; stock surges 18% in one month

A combined 4.75 million shares representing 0.31 per cent of total equity of the company changed hands on the NSE and BSE till 12:10 PM.

CG Power and Industrial Solutions Q3 profit falls 58% to Rs 228 crore

CG Power and Industrial Solutions on Tuesday said its consolidated net profit declined 58 per cent to Rs 227.86 crore in December quarter 2022-23. The company's net profit in the year-ago period was Rs 545.06 crore, according to a BSE filing. Total income rose to Rs 1,809.95 crore in the quarter from Rs 1,558.89 crore in the same period a year ago. Total expenses also increased to Rs 1,528.22 crore from Rs 1,385 crore in the same period of 2021-22. The company's board has also approved a proposal to expand the manufacturing capacity of power transformer and distribution transformer units of the company at its plants in Malanpur and Bhopal at an investment of Rs 126 crore. The proposed expansion would increase the capacity from 17,000 MVA to 25,000 MVA for power transformers and from 6,900 MVA to 9,900 MVA for distribution transformers. The current capacity utilization is around 65 per cent. The expansion project is expected to be implemented within a period of 15 months and will

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CG Power hits record high; stock surges 10% in two days on heavy volumes

In H1FY23, Ebitda margins improved 200 bps to 14.2% on account of improved sales realisation, favourable product mix, moderation in input costs, procurement efficiencies and better operating leverage.

CG Power Q2 net profit falls 11% to Rs 179 cr; total income rises 16%

CG Power and Industrial Solutions on Wednesday reported 11 per cent decline in consolidated net profit at Rs 178.97 crore for September quarter 2022-23. The company logged a profit of Rs 201.78 crore in the quarter ended September 30, 2021, a BSE filing stated. However, its total income rose to Rs 1,707 crore in the quarter from Rs 1,468.56 crore in the same period a year ago. The board in its meeting also approved a proposal to expand the manufacturing capacity of motors at its Ahmednagar and Goa plants with a capital outlay of Rs 230 crore. The proposed expansion would increase the capacity to 19.92 lakh low tension motors per annum, from the existing capacity of 9.93 lakh per annum. The current capacity utilisation is around 80 per cent. The expansion project will be implemented in 2 phases over a period of 4 years and will be funded through internal accruals. The expansion is proposed considering the expected increase in future demand for AC motors. The board also approved on

Standard Chartered Bank offloads CG Power shares of worth Rs 298 cr

Standard Chartered Bank (Singapore) Ltd offloaded 1.38 crore shares of CG Power and Industrial Solutions shares for Rs 298 crore on Wednesday through an open market transaction. According to block deal data available with BSE, Standard Chartered Bank (Singapore) Ltd sold 1,38,45,000 shares in six tranches, amounting to a 0.91 per cent stake in the company. The shares were disposed of at an average price of Rs 215 apiece, taking the transaction value to Rs 297.66 crore. Meanwhile, Societe Generale, DSP Mutual Fund and HDFC Life Insurance company Ltd picked up the shares of the company. Shares of CG Power and Industrial Solutions closed 1.65 per cent higher at Rs 219.25 on BSE.

CG Power and Industrial Solutions Q1 net profit jumps 138% to Rs 130 crore

The company had reported a consolidated net profit of Rs 54.58 crore in the quarter ended on June 30, 2021, a BSE filing said

CG Power hits all-time high; surges 30% in one month on strong outlook

The company said it has been identifying areas of synergies with Tube Investments and the Murugappa Group to take the pillars of growth much higher in the next 3-5 years