CG Power & Industrial Solutions (CGPOWER) Q4 24/25 earnings summary

Executive summary

• Achieved record quarterly and annual standalone revenue and PBT, with Q4 sales up 23% year-over-year and order intake up 20%.

• Consolidated revenue from operations for FY25 was ₹9,908.66 crore, up from ₹8,045.98 crore year-over-year.

• Profit after tax for FY25 stood at ₹972.98 crore, compared to ₹871.12 crore in FY24.

• The group acquired G.G. Tronics India Private Limited and finalized the acquisition accounting in Q4 FY25.

• Control over the RF Components business from Renesas Electronics America Inc. was obtained post year-end.

Financial highlights

• Q4 sales: INR 2,563 crore (+23% YoY, +7% QoQ); EBITDA: INR 407 crore; PBT: INR 381 crore.

• Full-year sales: INR 9,329 crore (+23% YoY); PBT: INR 1,181 crore (+19% YoY); free cash flow: INR 727 crore.

• Consolidated Q4 sales: INR 2,753 crore (+26% YoY); PBT: INR 384 crore (13.9% margin); free cash flow: INR 80 crore.

• Consolidated full-year sales: INR 9,909 crore (+23% YoY); PBT margin: 13.6%; free cash flow: INR 548 crore.

• EBITDA for FY25 was supported by higher segment profits, with consolidated profit before tax at ₹1,347.97 crore, up from ₹1,136.90 crore in FY24.

Outlook and guidance

• Management expects continued high double-digit growth, driven by disciplined margin expansion and operational excellence.

• Power segment demand expected to remain strong for at least 4-5 years, supporting robust margins.

• Railways and consumer businesses are expected to sustain high growth, with ongoing investments and R&D focus.

• The company has expanded its business portfolio with the acquisition of G.G. Tronics and the RF Components business, indicating a strategic focus on growth in electronics and semiconductors.