CG Power and Industrial Solutions’ board has approved establishing a greenfield switchgear manufacturing facility in Western India, estimated to cost ₹748.20 Crores. The board also approved shifting the registered office within Mumbai, effective December 9, 2025. Additionally, Yanmar Coromandel Agrisolutions Private Limited and Coromandel Engineering Company Limited have been reclassified from ‘Promoter’ to ‘Public’ category shareholders, pending stock exchange approval.
New Switchgear Plant Approved
CG Power and Industrial Solutions is set to establish a new greenfield switchgear manufacturing facility in Western India. This facility aims to enhance the company’s position in the domestic and export markets for switchgear products. The total estimated project cost is approximately ₹748.20 Crores (net of taxes). The project, planned on approximately 35 acres of land with a built-up area of around 72,000 sq. meters, is expected to be completed within 33 months.
Registered Office Shifting
The company’s registered office will be shifted within Mumbai, effective December 9, 2025. The new address will be “Unit 1504-1508, 15th Floor, in the building known as ‘One Unity Center’ Plot no. 612 TPS-IV and Plot No. 613 TPS-IV, Senapati Bapat Marg, Prabhadevi West, Mumbai, Maharashtra, 400013”. This shift follows the disclosure dated July 4, 2024, regarding a ‘Development Agreement’ with Skybound Realty Private Limited.
Promoter Reclassification
Yanmar Coromandel Agrisolutions Private Limited and Coromandel Engineering Company Limited have been reclassified from the ‘Promoter Group’ to the ‘Public’ category. The reclassification is subject to the issuance of a no-objection letter by the Stock Exchanges. The board approved this change at a meeting held on October 29, 2025.
Financial Performance Highlights (Q2 2025)
The company’s standalone financial results for Q2 2025 include:
- Revenue from operations: ₹2649.19 crores
- Total Income: ₹2713.44 crores
- Profit before tax: ₹408.59 crores
- Profit after tax: ₹307.18 crores
The consolidated financial results for Q2 2025 include:
- Revenue from operations: ₹2922.79 crores
- Total Income: ₹2988.89 crores
- Profit before tax: ₹388.07 crores
- Profit after tax: ₹284.44 crores
Source: BSE
