CG Power & Ind
CG Power & Ind Q3 FY26 earnings call: Revenue & Margins
Q3 FY26 earnings call: what management guided on revenue, margins and order book.
The short version
Power Systems segment sales grew sharply by 44% YoY in Q3 FY26, with further margin expansion. Power Systems segment shows strong growth with 44% YoY revenue increase and expanding margins (PBIT margin up from 17.6% to 21.4%). - Order backlog strong and growing 66% YoY to INR 14,859 crores, providing multi-quarter visibility. - Capacity expansion in transformers fast-tracked: from 20,000 MVA three quarters ago to expected 65,000 MVA within a quarter, with plans to reach 85,000 MVA by FY28 a year ahead of schedule. - Export orders growing significantly, with over 50% increase YoY, including a landmark INR 900 crore export order for US data centers. - Commodity inflation impact managed via price variation clauses and aggressive price increases; operational efficiency focus to improve margins. - Overall, expect sustained revenue and margin growth driven by robust order pipeline, capacity ramp-up, price discipline, and geographic diversification. - Return on capital employed remains strong at 23%.
From CG Power & Ind's Q3 FY26 earnings-call transcript · updated 23 Aug 2026.
Revenue & Sales Performance
- Power Systems segment sales grew sharply by 44% YoY in Q3 FY26, with further margin expansion.
- Capacity expansion for transformers is rapid: from 17,000 MVA a year ago to 40,000-45,000 MVA now, targeting 65,000 MVA within a quarter, and potentially 85,000 MVA by FY28 end—possibly one year earlier.
- Export orders have increased over 50% YoY over the last 9 months, with robust pipeline across select geographies.
- Industrial Systems show steady sales growth (8% YoY), with improving price realization despite commodity cost pressures.
- New OSAT (semiconductor) plant sales expected to start in small scale next 2 quarters and ramp up thereafter.
2 more points management made on revenue & sales performance
Profitability & Margins
See what CG Power & Ind said on profitability & margins — free account, 30 seconds.
Capital Expenditure Plans
- Announced capex of about INR 750 crore towards switchgear business expansion.
- In addition to the new plant (which will take more than a year to come up), a brownfield expansion near the existing facility has been approved to meet strong demand domestically and internationally.
- The brownfield expansion is expected to be ready in the next couple of months and is projected to generate close to INR 400 crore incremental revenue.
- OSAT (semiconductor) business: mini plant (M1) has commenced activities; sales expected in next 2-3 quarters.
- Larger OSAT plant (M2) expected to be operational by end of December 2026 or Q4 of next financial year.
2 more points management made on capital expenditure plans
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Ranked on what management guided this quarter
Rank buckets describe management commentary on revenue and margin. Not investment advice, and not a forecast of returns.
Fundraising & Capital Structure
See what CG Power & Ind said on fundraising & capital structure — free account, 30 seconds.
Order Book & Pipeline
- Current transformer capacity has rapidly increased from 20,000 MVA three quarters ago to 40,000 MVA now, with an expected jump to 65,000 MVA in the next quarter.
- Plans to add another 10,000 to 20,000 MVA capacity in the next 2-3 quarters as visibility improves.
- The order pipeline is strong, and capacity expansion is proceeding faster than planned.
- The approved capacity by FY 2028 was 85,000 MVA but expected to be achieved at least one year earlier.
- Power Systems export orders are up more than 50% across segments.
- A large $99 million data center export order to the U.S., executed over 12-20 months, is part of the current quarter's order book.
2 more points management made on order book & pipeline
CG Power & Ind — Quarterly revenue & net profit
Reported quarterly figures (₹ Cr). Latest: revenue ₹3.4K Cr, net profit ₹363 Cr. Revenue and profit are scaled separately — hover a quarter for exact figures.
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What CG Power & Industrial Solutions Ltd's management said in earlier quarters
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Frequently Asked Questions
What were CG Power & Ind Q3 FY26 results?
Power Systems segment sales grew sharply by 44% YoY in Q3 FY26, with further margin expansion. Power Systems segment shows strong growth with 44% YoY revenue increase and expanding margins (PBIT margin up from 17.6% to 21.4%). - Order backlog strong and growing 66% YoY to INR 14,859 crores, providing multi-quarter visibility. - Capacity expansion in transformers fast-tracked: from 20,000 MVA three quarters ago to expected 65,000 MVA within a quarter, with plans to reach 85,000 MVA by FY28 a year ahead of schedule. - Export orders growing significantly, with over 50% increase YoY, including a landmark INR 900 crore export order for US data centers. - Commodity inflation impact managed via price variation clauses and aggressive price increases; operational efficiency focus to improve margins. - Overall, expect sustained revenue and margin growth driven by robust order pipeline, capacity ramp-up, price discipline, and geographic diversification. - Return on capital employed remains strong at 23%.
What is CG Power & Ind share price analysis?
CG Power & Ind currently shows a neutral. The stock trades at a P/E of 107.3 with a market cap of ₹136,592 Cr. Investors should review the full earnings analysis for detailed insights.
Is CG Power & Ind planning capital expenditure?
Announced capex of about INR 750 crore towards switchgear business expansion.
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This analysis is AI-generated based on publicly available earnings data and the company's earnings call transcript. This is not investment advice. Please consult a SEBI-registered advisor before making investment decisions.