Order Backlog
₹15,719 crore
+59% YoY
Record unexecuted order backlog as of March 31, 2026, offering strong revenue visibility for FY27.
CGPOWERANDINDUSTRIALSOLU
Energy
2026-04-??
CG Power and Industrial Solutions Ltd — Q4 FY26
CG Power delivered a record Q4 FY26 with standalone revenue of ₹3,129 crore (+22% YoY) and PAT of ₹412 crore (+49% YoY), driven by power systems revenue surging 50% YoY to ₹1,487 crore with 23.8% margins (+287bps YoY).
Financial stats pending filing verification
2-Minute Summary
✦ AI-Generated from Full Transcript
CG Power delivered a record Q4 FY26 with standalone revenue of ₹3,129 crore (+22% YoY) and PAT of ₹412 crore (+49% YoY), driven by power systems revenue surging 50% YoY to ₹1,487 crore with 23.8% margins (+287bps YoY). The order backlog hit a record ₹15,719 crore (+59% YoY), providing strong visibility. Industrial systems grew modestly at 5% due to mix shifts and competitive pricing in railways, though motors saw double-digit growth with 17.5% cumulative price hikes. Management guided for continued momentum in power systems, with transformer capacity expanding to ~110,000 MVA by year-end. Key risks include commodity inflation impacting motor margins and execution delays in the US transformer order due to component lead times.
Key Numbers
Power Systems Order Intake
₹3,027 crore
+72% YoY
Q4 order intake surged, driven by large transformer orders including a ₹900 crore US data center order.
Transformer Capacity
65,000 MVA
+282% YoY
Capacity expanded from ~17,000 MVA to 65,000 MVA in one year; further expansion to 110,000 MVA by FY27 end.
Motor Market Share
38-39%
flat
Maintained market leadership in low-voltage motors despite 17.5% cumulative price hikes over 3-4 quarters.
Management Guidance
Transformer capacity to reach ~110,000 MVA by FY27 end
Greenfield expansion in progress; new plant to commission July-August 2026 with initial 25-30,000 MVA, ramping to 45,000 MVA by calendar year end.
Management guidance expansion400 kV GIS commercialization in FY27
Phase 1 type testing completed; phase 2 scheduled between Q2 and Q3 FY27; commercialization expected within FY27.
Management guidance growthExports and services as key focus areas
Exports order bookings more than doubled YoY; management targets ambitious growth but does not provide specific numbers.
Management guidance growthKey Risks
Commodity inflation impact on motor margins
Rising commodity costs have already necessitated 17.5% price hikes; further inflation may pressure margins if not fully passed through.
medium · management_commentaryExecution delays in US transformer order due to component lead times
Delivery of transformers to the US depends on capacitor and bushing supplies from Germany (9-12 month lead time), limiting ability to deliver faster than 12 months.
medium · analyst_questionCompetitive pricing pressure in railways business
Railways segment margins remain in single digits due to competitive bidding; management expects improvement from services and NPD but timeline uncertain.
medium · management_commentaryNotable Quotes
The game is just started. So 900 crores is what we had to report because it was a substantial order that we have but after that also the tap is open.
We are blessed to be the market leader. So the moment we do something like this so everybody else follows us.
We have completed the green field expansions both in Gwalia and Bhopal... capacity has grown to further 65,000 MVA at the end of the last year.
Frequently Asked Questions
What was CG Power and's revenue in Q4 FY26?
CG Power and reported revenue of ₹3,129 Cr in Q4 FY26, representing a +22% change compared to the same quarter last year.
What guidance did CG Power and management give for FY27?
Transformer capacity to reach ~110,000 MVA by FY27 end: Greenfield expansion in progress; new plant to commission July-August 2026 with initial 25-30,000 MVA, ramping to 45,000 MVA by calendar year end. 400 kV GIS commercialization in FY27: Phase 1 type testing completed; phase 2 scheduled between Q2 and Q3 FY27; commercialization expected within FY27. Exports and services as key focus areas: Exports order bookings more than doubled YoY; management targets ambitious growth but does not provide specific numbers.
What are the key risks for CG Power and in FY27?
Key risks include Commodity inflation impact on motor margins — Rising commodity costs have already necessitated 17.5% price hikes; further inflation may pressure margins if not fully passed through.; Execution delays in US transformer order due to component lead times — Delivery of transformers to the US depends on capacitor and bushing supplies from Germany (9-12 month lead time), limiting ability to deliver faster than 12 months.; Competitive pricing pressure in railways business — Railways segment margins remain in single digits due to competitive bidding; management expects improvement from services and NPD but timeline uncertain..
Did CG Power and meet its previous quarter's guidance?
Scorecard data is being built as historical quarters are processed.
Where can I read the full CG Power and Q4 FY26 concall transcript?
The full earnings conference call transcript or source release is available on the linked source material. This page provides an AI-generated summary with filing verification status shown on the financial stats.