CG Power Gets Order Worth Rs 641 Crore From Power Grid Corp
CG Power will deliver 765/400 KV 1-ph transformers and reactors of various capacities in 18 to 36 months.
Murugappa Group unit CG Power and Industrial Solutions Ltd. secured its highest single order worth Rs 641 crore from Power Grid Corp., to supply transformers and reactors.
The company will deliver 765/400 KV 1-ph transformers under the corporate package for procurement of 765kV and 400kV class transformers and reactors of various capacities, according to a statement on Tuesday.
The supply of these machines is expected to be completed in 18 to 36 months.
CG Power designs, manufactures and supplies a wide range of both power and distribution transformers and reactors for all critical applications. These transformers come in the range of 25 kVA to 1500 MVA, and 11kV to 765kV class, and reactors in the range of 10 MVAr to 125 MVAr, and 33kV to 765kV class.
These are used in industries such as power utilities, process industries, railways, mines, electricity boards, industrial users, and more.
Acquired by the Murugappa Group in November 2020, CG Power has manufacturing plants across nine locations in India and one in Sweden. The company's order intake for FY25 was Rs 13,526 crore, a growth of 35% year-on-year and backlog as of March was Rs 9,909 crore.
Shares of CG Power ended 1.6% higher at Rs 692.75 apiece on the BSE after the announcement, compared to a 0.26% decline in the benchmark Sensex. The stock has fallen 6% so far this year.
