CG Power & Industrial Solutions Ltd (CG) has closed fiscal year ending March 31, 2022, with an outstanding order book position of Rs.3,686 crore, up 35 per cent from its comparable level of Rs.2,730 crore in 2021.
In a release, CG said that the company has achieved remarkable turnaround during FY22, which was incidentally the first full financial year since the company was acquired by Tube Investments of India (Murugappa Group) on November 26, 2020.
The Power Systems division had an unexecuted order book position of Rs.1,564 crore as of March 31, 2022, growing 48 per cent from Rs.1,057 crore as of March 31, 2021.
The CG release also observed that the transformer division recorded is highest-ever annual order booking in FY22, the value was unspecified though. Similarly, the motor division recorded its highest-ever sales in FY22.
The Industrial Systems division of CG had an unexecuted order book position of Rs.2122 crore, as of March 31, 2022, up 27 per cent from Rs.1673 crore as of March 31, 2021.
Also read: CG Reports 22 Per Cent Growth In Power Systems Order Intake
CG operates under two main divisions – Power Systems and Industrial Systems. The Power Systems division includes transformers, reactors, switchgear (circuit breakers, instrument transformers and bushings) while the Industrial Systems division comprises motors and generators.
“This financial year has been a defining year, seeing the complete operational and financial turnaround of the company. All the businesses bounced back and performed to its potential regaining the confidence of customers and vendors. Several landmarks were achieved by the business,” the CG statement said.
