CG Power and Industrial Solutions Limited (NSE:CGPOWER/BSE:500093), one of India’s leading engineering and industrial equipment manufacturers, has released its standalone financial results for the third quarter and nine months ended December 31, 2025. The company continues to demonstrate a strong upward trajectory, characterized by significant growth in both revenue and profitability compared to the previous fiscal year.
Financial Performance Highlights
For the quarter ended December 31, 2025, CG Power reported revenue from operations of ₹2,909.44 crores, marking a substantial increase from the ₹2,388.97 crores reported in the same quarter of 2024. Total income for the quarter reached ₹2,981.68 crores.
Profitability also saw a healthy rise, with PAT standing at ₹311.65 crores, up from ₹244.27 crores in the corresponding quarter of the previous year. This performance led to basic and diluted earnings per share of ₹1.98 for the quarter, compared to ₹1.60 in Q3 of 2024. On a nine-month basis, the company’s revenue has reached ₹8,202.12 crores, compared to ₹6,765.57 crores in the prior year’s period.
Business and Operations Update
The company’s operations are driven by two primary business segments; Power Systems and Industrial Systems.
- Power Systems: This segment recorded a revenue of ₹1,326.29 crores for the quarter, with segment results (profit before tax and finance costs) of ₹283.49 crores. This reflects a strong performance compared to the ₹920.20 crores in revenue recorded in Q3 2024.
- Industrial Systems: This segment contributed ₹1,584.77 crores to the quarterly revenue, though its segment results of ₹149.44 crores were lower than the ₹183.95 crores recorded in the previous year’s third quarter.
Exceptional Items
The company accounted for an exceptional charge of ₹35.57 crores during the quarter. This was due to the notification of New Labour Codes by the Government of India, effective November 21, 2025, which led to a reassessment of gratuity and leave liability.
Capital Management
Following a ₹3,000.00 crore Qualified Institutions Placement (QIP) in a previous quarter (issuing shares at ₹660 each), the company has utilized ₹274.37 crores for designated objectives as of December 31, 2025. The unutilized funds remain temporarily invested in liquid assets such as fixed deposits and mutual funds.
Outlook & Strategic Position
The company’s financial position remains strong, with total segment assets increasing to ₹11,341.82 crores, compared to ₹6,538.31 crores in December 2024. In a move that signals confidence in its continued cash flow and stability, the Board of Directors declared an interim dividend of ₹1.30 per equity share on January 27, 2026.
Regarding future uncertainties, management remains confident in the resolution of ongoing direct tax litigations pending before various forums, anticipating a favorable outcome based on legal opinions and past rulings. As the company moves into the final quarter of the fiscal year, it continues to monitor regulatory updates, particularly regarding the new labour codes, to ensure necessary accounting adjustments are made as clarifications are issued.