CG Power Q2 FY26 Earnings Results

CG Power & Industrial Solutions delivered strong results in Q2 FY26, posting robust year-on-year growth driven mostly by its Power Systems segment.

Financial Results

• Revenues grew 21.14% year on year to ₹2,923 crore, up from ₹2,413 crore in Q2 FY25.
• Total expenses rose at a similar pace—21.09%, reaching ₹2,601 crore vs. ₹2,148 crore.
• Consolidated net profit surged 29.09% to ₹284 crore from ₹220 crore.
• Earnings per share (EPS) increased 25.52% to ₹1.82 from ₹1.45.

Highlights

• The Power Systems segment saw an impressive 48% revenue growth, driven by higher execution and order intake. Segment EBIT margins improved by 310 basis points, thanks to price realization and operating leverage.
• The Industrial Systems segment faced challenges, with sales declining 2% due to project delays and cost inflation, resulting in some margin pressure.
• Order intake was strong at ₹4,800 crore (up 45% YoY), with an order backlog jumping to ₹14,953 crore (up 88% YoY), supporting future growth visibility.
• CG Power inaugurated one of India’s first OSAT facilities (semiconductor assembly and test) in Q2, positioning itself for long-term growth in advanced electronics.

Outlook

Management remains upbeat on capex cycles and export opportunities, while margin improvement in the Industrial Systems division will be crucial for sustaining future profit growth. Broadly, CG Power continues to benefit from India’s industrial expansion and energy transition.

In summary, steady Power segment growth and robust order inflows drove the profit jump, with a healthy outlook amid sectoral headwinds.

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