Net profit of CG Power & Industrial Solutions declined 8.77% to Rs 220.96 crore in the quarter ended September 2024 as against Rs 242.20 crore during the previous quarter ended September 2023. Sales rose 20.54% to Rs 2412.69 crore in the quarter ended September 2024 as against Rs 2001.51 crore during the previous quarter ended September 2023. ParticularsQuarter EndedSep. 2024Sep. 2023% Var. Sales2412.692001.51 21 OPM %12.2115.42 - PBDT321.37325.71 -1 PBT293.80302.85 -3 NP220.96242.20 -9 Powered by Capital Market - Live News

The Board of CG Power & Industrial Solutions at its meeting held on 21 October 2024 has approved an additional capacity expansion of power transformers (T3 unit) at an additional investment of Rs 26.64 crore. The proposed expansion would increase the capacity from 35,000 MVA to 40,000 MVA for power transformers. The current capacity utilization is around 85%. The expansion project is expected to be implemented within a period of 18 months including the earlier project and will be funded through internal accruals. The expansion is proposed considering the expected increase in demand for transformers. Powered by Capital Market - Live News

The Board of CG Power & Industrial Solutions at its meeting held on 21 October 2024 has approved raising up to Rs 3,500 crore by issue of equity shares by way of qualified institutional placement. Powered by Capital Market - Live News

CG Power & Industrial Solutions will hold a meeting of the Board of Directors of the Company on 21 October 2024.Powered by Capital Market - Live News

CG Power & Industrial Solutions announced that the Company has entered into a definitive agreement for the acquisition of the Radio Frequency (RF) components business of Renesas Electronics Corporation (Renesas), a premier supplier of advanced semiconductor solutions. Towards this, an asset purchase agreement for the business was executed on 4 October 2024 between the company and Renesas Electronics America Inc., a subsidiary of Renesas, and other affiliated entities of Renesas, that have assets in the RF components business. The said business will be acquired by entities that will be established by CG, post completion of customary conditions and applicable regulatory approvals. Through this transaction, CG will acquire Intellectual Property (IP), tangible assets and select transferring employees across various functions such as semiconductor design, marketing, applications, etc. related to the RF components business.Powered by Capital Market - Live News