CG Power & Industrial Solutions Ltd (CG) has reported a 47 per cent year-on-year growth in order inflows during the first quarter (Q1: April to June) of FY24.
In a stock exchange filing, CG said that its overall order inflow in Q1 of FY24 stood at Rs.2,514 crore, which was 47 per cent higher than that in the same period of FY23.
As of June 30, 2023, CG’s outstanding order book position was Rs.4,909 crore – around 39 per cent higher than on the same date in 2022.
CG operates through two main segments – Industrial Systems and Power Systems. While the Power Systems division includes transformers, reactors, switchgear (circuit breakers, instrument transformers and bushings), the Industrial Systems division comprises motors and generators.
In the Industrial Systems segment, order intake in Q1 of FY24, at Rs.1,395 crore, was 27 per cent year-on-year, while the outstanding order book position (as of June 30, 2023) was 12 per cent higher, at Rs.2,035 crore.
The Power Systems division showed a higher 84 per cent year-on-year growth in order intake during Q1 of FY24, at Rs.1,119 crore. The outstanding order book, as of June 30, 2023, was Rs.2,874 marking a 69 per cent year-on-year growth. Power Systems accounted for nearly 59 per cent of the company’s unexecuted order book position as of June 30, 2023.
It may be recalled that CG was acquired by Tube Investments of India (part of Murugappa Group) on November 26, 2020. During FY22, which was the first full financial year since the acquisition, CG staged a remarkable financial turnaround. CG maintained good performance in FY23 and now in Q1 of FY24.
Also read: CG Closes FY22 With Rs.3,686-Crore Order Book
Featured photograph (source: CG) is for representation only.
