CG Power And Industrial Solutions Q2 Results: Profit Surges 35.4%, Beating Estimates
The company's second-quarter net profit rose 35.4% YoY to Rs 242 crore, beating Bloomberg estimate of Rs 212.05 crore.
CG Power And Industrial Solutions Ltd.'s second-quarter profit rose, beating analyst estimates.
The company's net profit surged 35.4% year-on-year to Rs 242 crore in the July-September quarter, according to an exchange filing on Friday. That compares with Bloomberg's consensus estimates of Rs 212.05 crore.
CG Power And Industrial Solutions Q2 FY24 (Consolidated, YoY)
Revenue up 19.5% at Rs 2,002 crore. (Bloomberg estimate: Rs 1,968.04 crore).
Ebitda 21.7% at Rs 309 crore. (Bloomberg estimate: Rs 288.78 crore).
Margin at 15.4% vs 15.1% (Bloomberg estimate: 14.70%).
Net profit up 35.4% at Rs 242 crore. (Bloomberg estimate: Rs 212.05 crore).
Q2 Updates
The board of the company approved the capacity expansion of its various units.
Proposal to expand the manufacturing capacity of the Large Industrial Machines unit situated at Mandiddeep, Bhopal, at a capital outlay of Rs 35 crore. This expansion would increase the capacity of LIM from 1,002 units per annum to 1,728 units per annum.
Proposal to expand the manufacturing capacity of Instrument Transformers and Condenser Bushings, Medium Voltage Switchgear and GIS unit of the company's Switchgears Division situated in Nashik, at a capital outlay of Rs 155 crore.
Proposal for an additional capacity expansion of Power Transformers (T3 unit) at the company's plant situated in Madideep, Bhopal at an investment of Rs 31 crore. This expansion would increase the capacity from 25,000 MVA to 35,000 MVA for Power Transformers.