CG Power & Industrial Solutions Ltd. (NSE: CGPOWER): Q3FY23 Results Out; Total Income rise 16% YoY

CG Power & Industrial Solutions Ltd (NSE: CGPOWER) is an Indian company that provides a wide range of products and services in the electrical equipment and engineering industry. The company offers solutions for power generation, transmission, and distribution, as well as industrial automation and control systems. CG Power & Industrial Solutions Ltd operates in several countries and has a diverse customer base, including power utilities, industrial customers, and original equipment manufacturers. The company’s products and services include transformers, switchgear, motors, automation and control systems, and power management systems.

CG Power and Industrial Solutions Ltd, has reported its financial results for the third quarter of fiscal year 2023. During the period ended December 31, 2022, the company reported a total income of Rs. 1,809.95 crores, which is an increase from Rs. 1,707 crores reported during the period ended September 30, 2022. The company’s net profit for the period ended December 31, 2022, was Rs. 227.86 crores, up from Rs. 178.97 crores reported during the period ended September 30, 2022. The earnings per share (EPS) for the period ended December 31, 2022, were Rs. 1.49, compared to Rs. 1.17 reported during the period ended September 30, 2022. The company’s total income for the period ended December 31, 2022, was Rs. 1,809.95 crores, up from Rs. 1,558.89 crores reported during the period ended December 31, 2021. The net profit for the period ended December 31, 2022, was Rs. 227.86 crores, a decline from Rs. 545.06 crores reported during the period ended December 31, 2021. The EPS for the period ended December 31, 2022, was Rs. 1.49, compared to Rs. 3.59 reported during the period ended December 31, 2021.

The profit before tax (PBT) for the quarter was Rs 274 crore, accounting for 16.6% of sales, as compared to Rs 161 crore, which was 11.1% of sales, in Q3FY22 and Rs 237 crore, accounting for 14.9% of sales, in Q2FY23. The higher margins were primarily driven by better price realisation, higher volumes, favourable product mix, moderation in input costs, and procurement efficiencies. The return on capital employed (ROCE) for Q3FY23 stood at 55%, up from 42% in Q3FY22. The company generated free cash flow of Rs 202 crore during the quarter. The order intake for Q3FY23 was Rs 2,219 crore, which represents a 21% YoY growth. The unexecuted order book as at Q3FY23 was Rs 4,136 crore, an increase of 34% YoY.

Overall, the company has shown an increase in total income and net profit from the previous quarter, but a decline in net profit and EPS compared to the same period last year.