TrueCAGR
CG Power and Industrial Solutions Limited · Research view

CG Power and Industrial Solutions Limited

NSE: CGPOWERBSE: 500093ISIN INE067A01029Face value ₹2standalone
₹877
+1.36% · 2026-10-01 · 52-wk ₹531–₹977
Financials to FY2026 · 5 years of history · prices to 2026-10-01consolidatedstandalone
Section 02 · Synthesis

What stands out?

The strongest observations the engine found, ranked. Every line is generated from the filed numbers by a fixed rule — no opinion, no estimate.

StrengthConcernWatchContext
WatchTalking point

Profit and cash flow diverged

Reported profit rose 23.2% but operating cash flow fell 25.8% — worth investigating whether the profit is being collected.

Importance 72 / 95 · cash quality

ConcernTalking point

Returns at a multi-year low

ROE of 19.6% is the lowest in 4 years (prior range 27.6% to 91.0%).

Importance 64 / 95 · profitability

WatchTalking point

Growing, but light on cash

Revenue grew 25.3% but only 0.58× of reported profit came through as operating cash.

Importance 62 / 95 · cash quality

StrengthTalking point

Compounding revenue

Revenue compounded at 22.2% a year over 4 years (₹5,561 → ₹12,418).

Importance 60 / 95 · growth

Section 03 · The company

Who is this company?

Classified by the exchange under Industrials › Capital Goods › Electrical Equipment › Heavy Electrical Equipment.

Market cap
₹1.38 L cr
FY2026 revenue
₹11,331 cr
FY2026 net profit
₹1,317 cr
Net worth
₹8,216 cr
Total debt
₹3 cr
EPS (basic)
₹8.42
Listed
NSE · BSE
Reporting
Ind-ASApr–Mar

Peer set used on this page: 8 heavy electrical equipment.

Section 04 · Business performance

Is the business growing?

Revenue & net profit — FY22 to FY26₹ crore · consolidated
₹'000 cr05101520012REVENUENET PROFIT5k627FY227k785FY238k1,004FY249k974FY2511k1,317FY26
RevenueNet profit
Strength

Revenue compounded at 22.2% a year over 4 years (₹5,561 → ₹12,418).

Rule REVENUE_CAGR_STRONG

Revenue growth per year
+21.7%over 4 years
Revenue growth
+21.5%vs last year
Net profit growth
+35.1%vs last year
Change in net profit since FY22
+110%

Net profit grew 23.2% year on year (FY2025 → FY2026).

Revenue grew 25.3% year on year (FY2025 → FY2026).

Section 05 · Recent activity

What changed recently?

Quarterly results, the trailing-twelve-months snapshot, and verified corporate actions — kept separate from each other and from the annual story above. Every figure traces to a filed number; nothing here is external news or commentary.

Strength

Q1 FY27 revenue was ₹3,281 cr, up 14.0% from ₹2,878 cr in Q1 FY26 a year earlier.

Rule QTR_REVENUE_GROWTH_YOY

Strength

Q1 FY27 net profit was ₹308 cr, up 15.5% from ₹267 cr a year earlier.

Rule QTR_PROFIT_GROWTH_YOY

Watch

Q1 FY27 interest (finance cost) was ₹4 cr, up 60.3% from ₹2 cr a year earlier.

Rule QTR_INTEREST_EXPENSE_CHANGE_YOY

A. Quarterly results

Latest quarters — Q2 '25 to Q1 '27₹ crore · consolidated
₹'000 cr01234000REVENUENET PROFIT52533Q2 '253k238Q3 '253k274Q4 '253k267Q1 '263k284Q2 '263k284Q3 '263k363Q4 '263k308Q1 '27
RevenueNet profit
QuarterRevenueYoYNet profitYoYNet margin
Q2 FY25·d525—33—6.3%
Q3 FY252,516+27.1%238−68.2%9.5%
Q4 FY25·d2,753+25.6%274+17.3%10.0%
Q1 FY262,878+29.2%267+10.6%9.3%
Q2 FY262,923+456.5%284+761.4%9.7%
Q3 FY263,175+26.2%284+19.4%8.9%
Q4 FY263,442+25.0%363+32.5%10.6%
Q1 FY273,281+14.0%308+15.5%9.4%

·d = derived by differencing year-to-date filings (Q2–Q4 aren't filed stand-alone).

B. TTM snapshot

Trailing twelve months to 30 Jun 2026 · sum of the last 4 contiguous quarters

Revenue
₹12,821 crTTM
EBITDA
₹1,941 crTTM
EBIT
₹1,734 crTTM
PBT
₹1,685 crTTM
Net profit
₹1,240 crTTM

C. Corporate actions

30 Jan 2026DividendInterim Dividend - Rs. - 1.3000 — ₹1.30/share
21 Mar 2025DividendInterim Dividend - Rs. - 1.3000 — ₹1.30/share
5 Feb 2024DividendInterim Dividend - Rs. - 1.3000 — ₹1.30/share
15 Mar 2023DividendInterim Dividend - Rs. - 1.5000 — ₹1.50/share
15 Mar 2016DemergerSpin Off
6 Feb 2015DividendInterim Dividend - Rs. - 0.4000 — ₹0.40/share
22 Oct 2014DividendInterim Dividend - Rs. - 0.4000 — ₹0.40/share
30 Jul 2014DividendFinal Dividend - Rs. - 0.4000 — ₹0.40/share
4 Feb 2014DividendInterim Dividend - Rs. - 0.4000 — ₹0.40/share
13 Nov 2013DividendInterim Dividend - Rs. - 0.4000 — ₹0.40/share
25 Jul 2013DividendFinal Dividend - Rs. - 0.4000 — ₹0.40/share
7 Nov 2012DividendInterim Dividend - Rs. - 0.4000 — ₹0.40/share
26 Jul 2012DividendInterim Dividend - Rs. - 0.4000 — ₹0.40/share
29 Mar 2012DividendInterim Dividend - Rs. - 0.4000 — ₹0.40/share
3 Feb 2012DividendInterim Dividend - Rs. - 0.2000 — ₹0.20/share
24 Oct 2011DividendInterim Dividend - Rs. - 0.8000 — ₹0.80/share
28 Mar 2011DividendInterim Dividend - Rs. - 0.6000 — ₹0.60/share
3 Feb 2011DividendInterim Dividend - Rs. - 0.8000 — ₹0.80/share
29 Oct 2010DividendInterim Dividend - Rs. - 0.8000 — ₹0.80/share
8 Mar 2010Bonus issueBonus issue 3:4 — 4:7
4 Feb 2010DividendInterim Dividend - Rs. - 1.4000 — ₹1.40/share
30 Oct 2009DividendInterim Dividend - Rs. - 0.8000 — ₹0.80/share
30 Mar 2009DividendInterim Dividend - Rs. - 0.5000 — ₹0.50/share
29 Jan 2009DividendInterim Dividend - Rs. - 0.8000 — ₹0.80/share
27 Oct 2008DividendInterim Dividend - Rs. - 0.7000 — ₹0.70/share
Section 06 · Business performance

Is it becoming more profitable?

Margins — FY22 to FY26% of revenue · consolidated
0%5%10%15%20%16.7%11.4%FY22FY23FY24FY25FY26
EBITDA marginNet margin
Concern

ROE of 19.6% is the lowest in 4 years (prior range 27.6% to 91.0%).

Rule ROE_AT_MULTI_YEAR_LOW

EBITDA margin now
16.7%
5-year range
12.4–16.7%
ROE FY2026
21.4%
ROCE FY2026
29.3%

ROCE has fallen for 3 consecutive years, from 61.4% to 27.4%.

ROE declined from 27.6% to 19.6% year on year.

Section 07 · Financial health

Is financial health improving?

Net worth — FY22 to FY26₹ crore · consolidated
₹'000 cr03692kFY222kFY233kFY244kFY258kFY26
Net worth (shareholders' funds)
Watch

Reported profit rose 23.2% but operating cash flow fell 25.8% — worth investigating whether the profit is being collected.

Rule PROFIT_UP_CASH_DOWN

Operating cash flow vs net profit₹ crore · FY22–FY26
0k1k1k2k452627FY22890785FY233321kFY24960974FY258891kFY26
Operating cash flowNet profit
Total debt
₹3 cr
Operating cash flow ÷ net profit
0.67×FY2026
Free cash flow
₹509 cr
Current ratio
1.94×

Revenue grew 25.3% but only 0.58× of reported profit came through as operating cash.

Net worth compounded at 69.0% a year over 4 years (₹1,004 → ₹8,198) — though FY2026 saw a one-off step-change of 103% (a merger, restructuring or a recovery off a low base), so the compounding is uneven.

Operating cash flow was only 0.58× reported profit (FY2026).

Free cash flow has been positive in 4 of the last 5 years.

Section 08 · Relative position

How does it compare with peers?

Ranked against 8 heavy electrical equipment (FY2026, consolidated). No peer-relative rule fired for this company.

Revenue growth

CGPOWER · 4th of 6 · set median 26.5%

SUZLON53.6%GVT&D44.6%POWERINDIA27.6%CGPOWER25.3%BHEL19.2%SIEMENS11.7%

EBITDA margin

CGPOWER · 6th of 8 · set median 18.2%

GVT&D28.6%ENRIN20.7%SUZLON18.7%POWERINDIA18.3%ABB18.1%CGPOWER15.1%SIEMENS14.4%BHEL9.3%

Return on equity

CGPOWER · 6th of 8 · set median 21.2%

GVT&D55.3%SUZLON40.6%ENRIN25.1%ABB21.3%POWERINDIA21.0%CGPOWER19.6%SIEMENS18.9%BHEL6.3%

P/E ratio

CGPOWER · 7th of 8 · set median 85.4×

SUZLON17.0×SIEMENS49.0×BHEL60.4×GVT&D83.8×ABB87.1×ENRIN107.8×CGPOWER111.3×POWERINDIA121.0×
P / E
111.3×TTM to Jun 26
P / B
16.8×latest book
P / S
10.8×TTM sales
Earnings yield
0.9%TTM to Jun 26

On the trailing twelve months. Last full year: P/E 115.2× · P/S 10.9× · ROE 19.6%.

Section 09 · The stock

How has the stock performed?

Adjusted close — 2020-02 to 2026-10₹ per share · split / bonus adjusted
0k₹8772020202120222023202420252026
Watch

Over 4 years the stock returned 25.6% a year while profit compounded at 7.0% a year.

Rule STOCK_RAN_AHEAD

Business vs stock — 5-year compound annual rate
Net profit7.0%/yrShare price25.6%/yr
1-year return
+18.5%
3-year return
+98.3%
5-year return
+885.1%
From 52-wk high
−10.2%
Section 10 · Technical data

What does the technical data say?

Price-action indicators as of 2026-10-01. Secondary to the fundamentals above — included for timing context, not as a signal.

vs 50-day avg
Below₹884
vs 200-day avg
Above₹790
RSI (14)
46.2neutral
MACD histogram
-4.0
From 52-wk high
−10.2%
From 52-wk low
+65.2%
30-day volatility
28.7%ann.
6-month return
+31.4%
RSI (14) · 0–10046.2 — neutral
0305070100OVERSOLDOVERBOUGHT46.2
Section 11 · Open questions

What should I investigate further?

Observations the engine tagged watch or deteriorating — prompts for your own research, not conclusions.

  • Watch
    Profit and cash flow diverged
    Reported profit rose 23.2% but operating cash flow fell 25.8% — worth investigating whether the profit is being collected.
    PROFIT_UP_CASH_DOWN · conviction 72
  • Concern
    Returns at a multi-year low
    ROE of 19.6% is the lowest in 4 years (prior range 27.6% to 91.0%).
    ROE_AT_MULTI_YEAR_LOW · conviction 64
  • Watch
    Growing, but light on cash
    Revenue grew 25.3% but only 0.58× of reported profit came through as operating cash.
    GROWTH_WITH_WEAK_CASH · conviction 62
  • Concern
    Capital efficiency slipping
    ROCE has fallen for 3 consecutive years, from 61.4% to 27.4%.
    ROCE_DECLINING_STREAK · conviction 59
  • Watch
    Stock has run ahead of the business
    Over 4 years the stock returned 25.6% a year while profit compounded at 7.0% a year.
    STOCK_RAN_AHEAD · conviction 58
  • Concern
    Weak cash conversion
    Operating cash flow was only 0.58× reported profit (FY2026).
    WEAK_CASH_CONVERSION · conviction 52
  • Concern
    Returns declining
    ROE declined from 27.6% to 19.6% year on year.
    ROE_DETERIORATED_YOY · conviction 50
  • Watch
    Receivables stretching
    Receivable days rose from 74 to 86 — collections are slower.
    RECEIVABLE_DAYS_JUMP · conviction 43
Data coverage is complete — 5 years of financials (FY2022–FY2026), full P&L, balance sheet and cash-flow statement, sector metrics fully mapped.
Section 12 · Reference

The numbers

The full statements, kept deliberately secondary. Every figure traces to a BSE Integrated Filing (inline XBRL); ratios are recomputed from the normalised facts.

Income & balance sheet — ₹ crore, consolidated
MetricFY22FY23FY24FY25FY26
Revenue5,1596,5807,6109,32911,331
Total income5,2046,6597,7619,49111,584
EBITDA6421,0161,2271,4351,894
Profit before tax7429831,2891,3421,757
Net profit6277851,0049741,317
EPS (₹)4.65.26.66.48.4
Net worth1,8192,4303,2454,0698,216
Total debt3023333
Operating cash flow452890332960889
Free cash flow766830170741509
Key ratios — consolidated
RatioFY22FY23FY24FY25FY26
Growth
Revenue growth YoY—27.515.722.621.5
Profit growth YoY—25.227.9-3.035.1
Profitability
EBITDA margin %12.415.416.115.416.7
Net margin %12.011.812.910.311.4
Return on equity %34.537.035.426.621.4
Return on capital %26.841.340.536.829.3
Leverage & cash
Debt to equity0.170.000.000.000.00
Cash flow ÷ profit0.721.130.330.990.67
Current ratio1.261.541.851.611.94
Financials: BSE Integrated Filing inline XBRL (SEBI taxonomy), normalised to standard metric keys. Prices: NSE end-of-day, raw OHLC preserved; a corporate-action factor produces the adjusted series. The insight engine writes factual observations from fixed rules — it does not make recommendations. Not investment advice.