CG Power & Industrial Solutions (CGPOWER) Q2 25/26 earnings summary

Executive summary

• Achieved all-time high standalone revenue and profit before tax for Q2 and H1 FY26, driven by strategic transformation and disciplined execution.

• Unaudited standalone and consolidated financial results for Q2 and H1 FY2025-26 were approved, showing strong revenue and profit growth year-over-year.

• Board approved a greenfield Switchgear manufacturing facility in Western India to double capacity and support growth in MV and EHV segments.

• Promoter group reclassification requests were approved, subject to regulatory clearance.

• Robust order intake and backlog provide multi-quarter revenue visibility.

Financial highlights

• Standalone Q2 sales: INR 2,649 crores (+17% YoY); PAT: INR 307 crores (+38% YoY); order intake: INR 4,210 crores (+32% YoY).

• Consolidated Q2 sales: INR 2,923 crores (+21% YoY); PAT: INR 284 crores (+30% YoY); order intake: INR 4,772 crores (+45% YoY).

• QIP raised ₹3,000 crore in equity capital during the quarter.

• Unexecuted order backlog as of September 30, 2025: INR 13,568 crores (standalone), INR 14,953 crores (consolidated).

• Return on capital employed: 34% (standalone), 31% (consolidated) for the quarter.

Outlook and guidance

• Strong inquiry pipeline, up 85% YoY, supports continued growth.

• Power systems and switchgear expansions to meet rising demand; new greenfield switchgear plant approved.

• Exports expected to increase as capacity expands, with a target of 35-40% export revenue from new transformer capacity.

• Strategic investments in automation and power electronics to enhance competitiveness and long-term value.