Read the quarter in context.
A source-linked quarter view: reported numbers, management language, guidance, and the risks that should carry forward.
ConCallIQ research layer
Signal, with the source still visible.
Use the controls below to narrow the view, then follow the evidence into the next layer of context.
Revenue
₹3,442 Cr
verified against source
Revenue YoY
22%
reported change
EBITDA
Pending
latest reported figure
Source
screener in
record provenance
Actual signal trajectory
Where this quarter sits.
Quarter read
What the record says.
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.
Colored figures show movement against the previous available record.
Guidance to track
- 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.
- Phase 1 type testing completed; phase 2 scheduled between Q2 and Q3 FY27; commercialization expected within FY27.
- Exports order bookings more than doubled YoY; management targets ambitious growth but does not provide specific numbers.
Risks flagged
- Rising commodity costs have already necessitated 17.5% price hikes; further inflation may pressure margins if not fully passed through.
- 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.
- Railways segment margins remain in single digits due to competitive bidding; management expects improvement from services and NPD but timeline uncertain.
Key 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.
Research modules