CG Power reports strong Q2FY26 growth, approves new switchgear facility

CG Power and Industrial Solutions Limited reported a strong Q2FY26 performance, with standalone sales growing by 17% year-on-year to INR 2,649 Cr and PAT increasing by 38% year-on-year to INR 307 Cr. Consolidated sales also saw a 21% year-on-year rise to INR 2,923 Cr, with consolidated PAT up 30% to INR 284 Cr. Order intake for the quarter was INR 4,210 Cr (32% growth YoY) standalone and INR 4,772 Cr (45% growth YoY) consolidated, strengthening the unexecuted order backlog to INR 13,568 Cr and INR 14,953 Cr respectively.

The company's board of directors approved key strategic initiatives, including establishing a new Greenfield Switchgear manufacturing facility in Western India at an estimated project cost of approximately INR 748.20 Crores (net of taxes). Additionally, the registered office will be relocated effective December 9, 2025.

The board also approved the reclassification of M/s. Yanmar Coromandel Agrisolutions Private Limited and M/s. Coromandel Engineering Company Limited from the 'Promoter and Promoter Group' category to 'Public' shareholders. This reclassification is subject to no-objection letters from the stock exchanges.