CG Power cons Q1 net profit rises 16 per cent to ₹308 crore
On a standalone basis, the company recorded a 27 percent year-on-year increase in net profit to ₹364 crore for the quarter, compared with ₹286 crore.
CG Power and Industrial Solutions Ltd has posted a 16 per cent rise in consolidated net profit at ₹308 crore for the first quarter ended June 30, compared with ₹267 crore recorded during the same quarter a year ago.
The company’s revenue rose 14 per cent to ₹3,281 crore from ₹2,878 crore recorded during the same period of last financial year. During the quarter, its order intake, on a consolidated basis touched ₹5,211 crore with its total orderbook growing 45 per cent year-on-year to ₹18,965 crore, the company said in a regulatory update.
Its aggregate sales for the quarter were higher at ₹1,402 crore, a 31 per cent YoY rise. Its power systems orderbook rose 59 per cent to ₹14,434 crore.
On a standalone basis, the company recorded a 27 percent year-on-year increase in net profit to ₹364 crore for the quarter, compared with ₹286 crore.
CG Power’s standalone EBITDA rose 27 per cent to ₹518 crore during the quarter, compared with ₹407 crore recorded during the year-ago period. The company’s EBITDA margin rose to 16.9 per cent up from 15.4 per cent, while standalone order book rose 45 per cent YoY to ₹17,333 crore as of June 30.
“While global trade realignments, currency volatility, and elevated input costs remain part of the landscape, we continue adapting effectively. Our demand drivers remain intact and diversified, spanning grid modernisation, renewable integration, rail modernisation, and electronics manufacturing in India, further supported by an improvement in manufacturing activity and private capex,” CG Power Group Chief Executive Officer and Managing Director Amar Kaul said.
“We will stay the course on capacity investment, as we believe the medium-term opportunity is stronger than near-term headwinds,” he added.
Power systems’s sales surge
The company’s standalone sales for power systems surged 31 per cent a YoY basis to ₹1,402 crore (up from ₹1,070 crore), which pushed up the company’s consolidated net profit. The segment’s operating profit rose 44 per cent year-on-year to ₹324 crore, driven by execution discipline and strong operating leverage, it said.
CG Power’s consolidated earnings before interest, taxes, depreciation and amortisation (EBITDA) rose 17 per cent year-on-year to ₹481 crore from ₹409 crore, with EBITDA margin at 14.7 per cent compared to 14.2 per cent.
CG Power is a Murugappa Group firm, and the other listed companies include Cholamandalam Financial Holdings Ltd, Cholamandalam Investment & Finance Company Ltd, Coromandel International Ltd, E.I.D.-Parry (India) Ltd and NACL Industries Ltd among others.
