CG Power and Industrial Solutions Ltd. reported a 58% year-over-year increase in its consolidated order backlog to INR 23,646 crore, as quarterly orders and profit also rose in the September quarter.
Consolidated order intake was INR 8,485 crore, up 78% from a year earlier, the company said. Its filing with the National Stock Exchange of India reported revenue from operations of INR 3,801.54 crore and total profit of INR 409.09 crore for the three months ended Sept. 30, 2026. The exchange-filed release rounded sales to INR 3,802 crore and profit after tax to INR 409 crore, increases of 30% and 44%, respectively.
Motilal Oswal Financial Services retained its Buy rating and raised its two-year sum-of-the-parts target to INR 1,140 from INR 1,020, NDTV Profit reported Oct. 26. The outlet said the brokerage raised its estimates by 5% for fiscal 2027, 9% for fiscal 2028 and 10% for fiscal 2029, citing higher Power Systems estimates and lower margin assumptions for Industrial Systems.
NDTV Profit said Motilal Oswal’s outlook cited capacity additions, price increases and a gradual recovery in industrial demand. The brokerage also expects CG-SEMI losses to decline by fiscal 2028, the outlet reported.
Power Systems sales rose 41% year over year to INR 1,769 crore, while the segment’s quarterly order intake climbed 137% to INR 6,258 crore, CG Power said. The company said its existing switchgear facilities were operating at peak capacity and that a growing order pipeline, alongside domestic and export demand, led it to plan capacity investments. It reported that the first transformer at its Sehore, Madhya Pradesh, facility came off the line Sept. 4.
The company’s order-intake figure differs from the INR 7,800 crore, up 85%, cited in NDTV Profit’s summary of the brokerage note. The outlet’s account did not reconcile the difference with CG Power’s reported total.
CG Power said talent investments in CG Semi and Axiro had an INR 35 crore, or 91-basis-point, impact on quarterly consolidated results. It expects added EHV circuit-breaker capacity to be completed within six to nine months, while production from its OIP bushings and instrument-transformer project is tentatively expected within 30 to 36 months.
