CG Power and Industrial Solutions Ltd.All-Time High Revenue + Record ₹900 Cr Export Order

CG Power and Industrial Solutions delivered exceptional Q3 FY26 results, achieving all-time high standalone revenue of ₹2,909 Cr (+22% YoY) and PBT of ₹454 Cr (+35% YoY), reflecting 148 basis points of margin expansion.

The Power Systems segment was the standout performer with 44% revenue growth and a 378-basis-point PBIT margin expansion to 21.4%, supported by robust execution and strong pricing power. The standalone order backlog surged 66% year-on-year to ₹14,859 Cr, providing strong multi-quarter revenue visibility. A landmark ₹900 Cr (~$99M) export order from Tallgrass for 330 kV power transformers — the largest single order in company history — underscores CG Power's successful penetration of U.S. hyperscale data center infrastructure.

Industrials margins face near-term commodity headwinds (PBIT at 9.4% vs 12.5% prior year), though management is addressing this with 17% price increases and an Innovate-to-Value program. Transformer capacity is tripling from 20,000 MVA to 65,000 MVA in four quarters, well ahead of the FY28 target.