Date: 24th July, 2026

Financial Performance (Standalone)

Q1 FY27 Overall Performance

  • Revenue: INR 3,061 Crores, up 16% YoY from INR 2,643 Crores in Q1 FY26
  • EBITDA: INR 518 Crores, up 27% YoY from INR 407 Crores in Q1 FY26
  • EBITDA Margin: 16.9% vs 15.4% in Q1 FY26 (140 bps expansion)
  • PBT: INR 487 Crores, up 27% YoY from INR 383 Crores in Q1 FY26
  • PBT Margin: 15.9% vs 14.5% in Q1 FY26
  • PAT: INR 364 Crores, up 27% YoY from INR 286 Crores in Q1 FY26
  • PAT Margin: 11.9% vs 10.8% in Q1 FY26
  • ROCE (annualized): 23% for the quarter
  • Order Intake: INR 4,692 Crores for the quarter
  • Order Backlog: INR 17,333 Crores as of 30th June 2026, up 45% YoY

Segment-wise Performance

Industrial Systems Segment
  • Sales: INR 1,671 Crores, up 6% YoY from INR 1,574 Crores
  • EBITDA: INR 160 Crores vs INR 182 Crores in Q1 FY26 (-12%)
  • EBITDA Margin: 9.6% vs 11.6% in Q1 FY26
  • PBIT: INR 148 Crores vs INR 172 Crores in Q1 FY26 (-14%)
  • PBIT Margin: 8.8% vs 10.9% in Q1 FY26
  • Margin decline largely due to one-off provision of INR 20 Crores in Railways business
  • Order Intake: INR 1,586 Crores for the quarter
  • Order Backlog: INR 2,899 Crores as of 30th June 2026
  • Double-digit YoY growth in orders in Motors business
Power Systems Segment
  • Sales: INR 1,402 Crores, up 31% YoY from INR 1,070 Crores
  • EBITDA: INR 338 Crores, up 44% YoY from INR 235 Crores
  • EBITDA Margin: 24.1% vs 22.0% in Q1 FY26 (210 bps expansion)
  • PBIT: INR 324 Crores, up 44% YoY from INR 225 Crores
  • PBIT Margin: 23.1% vs 21.1% in Q1 FY26 (200 bps expansion)
  • Strong margin expansion reflecting disciplined execution and operating leverage
  • Order Intake: INR 3,106 Crores for the quarter
  • Order Backlog: INR 14,434 Crores as of 30th June 2026, up 59% YoY

Financial Performance (Consolidated)

Consolidated results include performance of operating subsidiaries at Sweden, Germany, Netherlands (Drives and Automation Europe), CG DE Sub LLC, CG Adhesive Products Ltd (India), CG Semi Private Limited (India), G.G. Tronics India Private Limited, Axiro Semiconductor Group, and other non-operating subsidiaries.

  • Revenue: INR 3,281 Crores, up 14% YoY from INR 2,878 Crores
  • EBITDA: INR 481 Crores, up 17% YoY from INR 409 Crores
  • EBITDA Margin: 14.7% vs 14.2% in Q1 FY26
  • PBT: INR 423 Crores, up 16% YoY from INR 364 Crores
  • PBT Margin: 12.9% vs 12.6% in Q1 FY26
  • PAT: INR 308 Crores, up 16% YoY from INR 267 Crores
  • PAT Margin: 9.4% vs 9.3% in Q1 FY26
  • Margin gains from strong standalone performance partially offset by continued investment in talent pool for semiconductor businesses (total semiconductor segment impact of INR 43 Crores, 132 bps)
  • ROCE (annualized): 20% for the quarter
  • Order Intake: INR 5,211 Crores for the quarter
  • Order Backlog: INR 18,965 Crores as of 30th June 2026, up 45% YoY

Management Commentary

Amar Kaul, Group CEO and Managing Director stated: "This quarter continues to reflect steady, disciplined execution in an uncertain external environment. While global trade realignments, currency volatility, and elevated input costs remain part of the landscape, we continue adapting effectively. Our demand drivers remain intact and diversified, spanning grid modernisation, renewable integration, rail modernisation, and electronics manufacturing in India, further supported by an improvement in manufacturing activity and private capex. We will stay the course on capacity investment, as we believe the medium-term opportunity is stronger than near-term headwinds. Our priority remains consistent: building capability today so we continue to capitalize on ongoing and future opportunities."

Key Events

1. New EHV Switchgear Facility Commissioning: On 4th June 2026, CG commissioned its extra high voltage (EHV) switchgear manufacturing facility, S3 Unit-II, in Pimpalgaon Garudeshwar, Nashik, Maharashtra. This facility manufactures EHV Circuit Breakers in the 33 kV to 245 kV range and expands CG's EHV circuit breaker manufacturing capacity by 80% (incremental 7,200 units annually vs existing 9,000 units annually). The facility is equipped with advanced manufacturing and testing infrastructure, including 500 kV and 350 kV high-voltage testing laboratories.

2. Semiconductor OSAT Facility Launch: CG Semi Private Limited, a subsidiary, announced commencement of commercial production at its G1 Outsourced Semiconductor Assembly and Test facility in Sanand on 4th July 2026. The launch was attended by Hon'ble Prime Minister of India Shri Narendra Modi, Hon'ble Chief Minister of Gujarat Shri Bhupendra Patel and Hon'ble Minister of Railways, Information & Broadcasting and Electronics & Information Technology Shri Ashwini Vaishnaw.

3. Statutory Auditor Transition: S.R. Batliboi & Associates LLP, statutory auditors of Tube Investments of India Limited (Holding Company), will demit office after completion of 10 years period upon conclusion of AGM on August 14, 2026. CG proposes to align its statutory auditors with those affiliated to the same network as appointed by its Holding Company. S.R. Batliboi & Associates LLP intend to resign as CG's statutory auditors effective close of business hours on August 14, 2026.

About Murugappa Group

The document mentions that CG Power is part of the Murugappa Group, a 125-year-old conglomerate with INR 90,178 Crore revenue and diverse businesses in agriculture, engineering, financial services. The Group has 10 listed companies including CG Power and employs 94,041 people.