Heavy Electrical equipment firm CG Power and Industrial Solutions announced Q3FY24 results: Quarterly Sales Performance: Aggregate sales for the quarter increased by 13% YoY to Rs 1,860 crores. Profit Before Tax (PBT): PBT before exceptional items stood at Rs 282 crores, which is equivalent to 15.1% of sales, compared to Rs 274 crores or 16.6% of sales in the same quarter of the previous year. Profit After Tax (PAT): PAT, excluding exceptional items, for the quarter was Rs 216 crores, marking a 13% rise compared to the previous year. Earnings Before Interest, Taxes, Depreciation, and Amortization (EBITDA): Reported EBITDA was Rs 313 crores, experiencing a slight decline of 4% from the previous quarter. Nine-Month Performance: For the nine months ended December 2023, sales grew by 15% YoY to Rs 5,526 crores, while profit after tax (before exceptional items) increased by 26%. Segment-Wise Performance Industrial Systems: Sales were Rs 1,214 crores for the quarter, a 5% increase YoY. Profit before interest and taxes (PBIT) was Rs 169 crores, 13.9% of sales, a decrease compared to Rs 213 crores or 18.3% of sales in Q3FY23. Power Systems: Sales reached Rs 646 crores, a substantial 34% growth YoY. PBIT improved significantly to Rs 99 crores which is 15.3% of sales, compared to Rs 57 crores or 11.7% of sales in the same quarter last year. Consolidated Results Total Sales: Consolidated sales for the quarter saw a 13% rise to Rs 1,979 crores YoY. PBT: Stood at Rs 264 crores, 13.4% of sales, versus Rs 285 crores or 16.2% of sales in Q3FY23. Order Book: The unexecuted order book as of December 31, 2023, was Rs 5,556 crores, showing a 34% increase YoY. Result PDF
Heavy Electrical Equipment company CG Power and Industrial Solutions announced Q2FY24 results: 1. Financial Performance: - CG Power and Industrial Solutions reported a 20% YoY increase in sales, reaching Rs 1,900 crore, the highest ever for Q2 in recent times. - Profit before tax (PBT) grew by 24% to reach Rs 293 crore, representing 15.4% of sales. - The company's order book stood at Rs 5,229 crore as of September 30, 2023. 2. Segment-wise Performance: - Industrial Systems: Sales for this segment grew by 20% YoY to reach Rs 1,283 crore, with a PBIT of Rs 207 crore. - Power Systems: Sales for this segment increased by 25% YoY to Rs 619 crore, with a PBIT of Rs 103 crore. 3. Margin and Efficiency: - The company achieved an EBITDA margin of 16.3% during Q2FY24, demonstrating strong operational efficiency. - Return on capital employed (ROCE) for Q2FY24 was 44%, indicating robust financial performance. 4. Order Book and Order Intake: - CG Power and Industrial Solutions reported an order intake of Rs 2,232 crore during Q2FY24, representing a 22% YoY growth. - The unexecuted order book as of September 30, 2023, amounted to Rs 5,229 crore, a 44% YoY increase. 5. Expansion Plans: - The company's board approved a proposal to expand manufacturing capacity for switchgears, power transformers, and HT motors, with an investment of Rs 221 crore. Result PDF
Heavy Electrical Equipment company CG Power and Industrial Solutions announced Q1FY24 results: Consolidated Q1FY24: Aggregate sales for Q1FY24 were higher at Rs 1,874 crore recording a growth of 14% YoY and lower by 2% QoQ. PBT was at Rs 263 crore (14.0% of sales) in Q1FY24 as against Rs 167 crore (10.1% of sales) in Q1FY23 and Rs 262 crore (13.8% of sales) in Q4FY23. Unexecuted Order Book of Drives and Automation, Europe as of 30 Jun 2023 was Rs 136 crore (9% higher YoY). Standalone Q1FY24: Aggregate sales for Q1FY24 were higher at Rs 1,766 crore recording a growth of 13% YoY and lower by 1% QoQ. PBT was at Rs 256 crore (14.5% of sales) in Q1FY24 as against Rs 165 crore (10.6% of sales) in Q1FY23 and Rs 252 crore (14.1% of sales) in Q4FY23. Margins were higher YoY on account of volume growth, softening in input costs, favourable product mix, and procurement efficiencies. ROCE (annualised) for Q1FY24 was at 45% as against 38% in Q1FY23. Order intake for Q1FY24 was Rs 2,514 crore (47% growth YoY) and Unexecuted Order Book as of 30 Jun 2023 was Rs 4,909 crore (39% higher YoY). Result PDF
Conference Call with CG Power and Industrial Solutions Management and Analysts on Q4FY23 Performance and Outlook. Listen to the full earnings transcript.
Heavy electrical Equipment company CG Power and Industrial Solutions announced Q4FY23 & FY23 results: Standalone Q4FY23: Aggregate sales for Q4FY23 were higher at Rs 1,788 crore, recording a growth of 27% YoY and 9% QoQ PBT was at Rs 252 crore (14.1% of sales) in Q4FY23 as against Rs 131 crore (9.3% of sales) in Q4FY22 and Rs 274 crore (16.6% of sales) in Q3FY23 Margins were higher YoY on account of volume growth, softening in input costs and procurement efficiencies Free cash flow generated for Q4FY23 was Rs 263 crore Order intake for Q4FY23 was Rs 2,073 crore (8% growth YoY) and unexecuted order book as of March 31, 2023, was Rs 4,319 crore (22% higher YoY) Standalone FY23: Aggregate sales for the year were higher at Rs 6,580 crore recording a growth of 28% YoY PBT was at Rs 927 crore (14.1% of sales) in FY23 as against Rs 502 crore (9.7% of sales) in FY22 Margins were higher YoY on account of volume growth, higher sales realisation, procurement efficiencies and higher other income ROCE for FY23 was at 47% as against 34% in FY22 Free cash flow generated for the year was Rs 749 crore Order intake for FY23 was Rs 7,828 crore (20% growth YoY) Consolidated Q4FY23: Aggregate sales for Q4FY23 were higher at Rs 1,903 crore recording a growth of 28% YoY and 9% QoQ PBT was at Rs 262 crore (13.8% of sales) in Q4FY23 as against Rs 135 crore (9.1% of sales) in Q4FY22 and Rs 285 crore (16.2% of sales) in Q3FY23 Unexecuted order book of rives and Automation, Europe as of March, 31, 2023 was Rs 138 crore (17% higher YoY) Consolidated FY23: Aggregate sales for the year were higher at Rs 6,973 crore recording a growth of 27% YoY PBT was at Rs 950 crore (13.6% of sales) in FY23 as against Rs 504 crore (9.2% of sales) in FY22 Result PDF
Heavy electrical equipment firm CG Power and Industrial Solutions announced Q3FY23 results: Standalone Q3FY23 vs Q3FY22: Aggregate sales for the quarter were higher at Rs 1,645 crore recording a growth of 14% YoY and 4% QoQ. PBT was at Rs 274 crore (16.6% of sales) in Q3FY23 as against Rs 161 crore (11.1% of sales) in Q3FY22 and Rs 237 crore (14.9% of sales) in Q2FY23. Margins were higher on account of better price realisation, higher volumes, favourable product mix, moderation in input costs and procurement efficiencies. ROCE (on annualised basis) for Q3FY23 was at 55% as against 42% in Q3FY22. Free Cash Flow generated for the quarter was Rs 202 crore. Order intake for Q3FY23 was Rs 2,219 crore (21% growth YoY) and Unexecuted Order Book as at Q3FY23 was Rs 4,136 crore (34% higher YoY). Consolidated Q3FY23 vs Q3FY22: Aggregate sales for the quarter were higher at Rs 1,775 crore recording a growth of 14% YoY and 5% QoQ. PBT was at Rs 282 crore (15.9% of sales) in Q3FY23 as against Rs 174 crore (11.2% of sales) in Q3FY22 and Rs 241 crore (14.2% of sales) in Q2FY23. Unexecuted Order Book of Drives and Automation, Europe as of Q3FY23 was Rs 146 crore (48% higher YoY). Result PDF
