CG Power

CGPOWER · NSE · Mega Cap

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Transmission & Grid·Listed·Directness 45/100

CG Power

Motors, transformers, switchgear; semiconductor + renewables diversification.

Transmission & Grid
Sell / Avoid
Last price
₹861.00
52W: ₹526 – ₹884
-2.6% from 52W high
Mkt Cap
₹1.36 L Cr
P/E
110.0x
EV/EBITDA
83.5x
ROCE
27.0%
ROE
20.8%
Book Value
₹50.6
Promoter
56.4%
Real financial data sourced from Screener.in · annual + quarterly statements below

Scoring breakdown

SageOne-style fundamental · TQ-100 technical · solar overlays

B+
Fundamental (30%)
73
Valuation (20%)
7
Technical (20%)
73
Solar exposure (10%)
45
Policy beneficiary (7.5%)
70
Project pipeline (5%)
82
Governance safety (7.5%)
80

52-week position

Real snapshot from Screener

₹526Current: ₹861₹884
P/E
110.0x
P/B
17.0x
Div Yield
0.15%

Investment thesis

One-liner · bull · bear · monitorables

One-liner. CG Power: renewable evacuation super-cycle + grid modernization order book provide multi-year visibility.

Bull case

Bull case for CG Power: continued capacity ramp at attractive unit economics, supportive policy (PLI / ALMM / RPO / open access), benign module + commodity cycle, healthy receivable conversion, and re-rating from current valuation as execution beats consensus.

Bear case

Bear case for CG Power: module/tariff price crash, working-capital blowout from DISCOM receivables, leverage spiking past 4x net-debt/EBITDA, ALMM/PLI delays, Chinese dumping, and de-rating to historical median multiples on growth disappointment.

Key monitorables
  • 01Quarterly capacity commissioned vs guidance
  • 02Receivable days from DISCOMs and large customers
  • 03Net debt / EBITDA trajectory
  • 04Order book to revenue cover

Solar exposure

Directness · policy linkage · BOM

Primary segmentTransmission & Grid
Directness45/100
ALMM eligible—
PLI beneficiary—
Imported BOM—

Valuation snapshot

Multiple methods · solar-specific multiples

MethodValueHist %ile
P/E (TTM)110.0x—
Forward P/E——
EV/EBITDA83.5x—
EV/Sales10.9x—
P/B17.0x—
FCF Yield-2.1%—

Project pipeline

0 tracked projects

No tracked projects.

Financials

Source: Screener.in (consolidated) · ticker CGPOWER · last updated 2026-05-11

Open on Screener.in
Market Cap
₹1.36 L Cr
Price
₹861.00
Stock P/E
110.0x
Book Value
₹50.6
ROCE
27.0%
ROE
20.8%
Div Yield
0.15%
52W Range
₹526 – ₹884

Ratio analysis (derived from statements)

Growth · profitability · returns · leverage · cash flow · valuation

Growth
Sales 1Y25.3%
Sales 3Y CAGR21.2%
Sales 5Y CAGR22.7%
PAT 1Y23.2%
PAT 3Y CAGR7.6%
PAT 5Y CAGR7.1%
Profitability
OPM latest13.0%
PAT margin latest9.7%
PAT margin 3Y avg12.4%
ROE20.8%
ROCE27.0%
Asset turnover0.98x
Leverage & cash
D / E0.01x
Net Debt / EBITDA0.07x
Borrowings / Assets0.9%
CFO / EBITDA0.43x
CFO / PAT0.59x
FCF (TTM proxy)₹-2.90K Cr
Valuation
P/E110.0x
EV/EBITDA83.5x
EV/Sales10.93x
P/B17.02x
FCF Yield-2.14%
Div Yield0.15%

Annual P&L · 5 years

₹ Crore. Source: Screener.in consolidated.

MetricMar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Sales5,4846,9738,0469,90912,418
Operating Profit6471,0051,1421,3191,625
OPM %12%14%14%13%13%
Net Profit9139631,4289731,199
EPS (₹)6.336.309.346.377.66

Quarterly results · last 4 quarters

₹ Crore.

MetricDec 2024Mar 2025Jun 2025Sep 2025
Sales2,5162,7532,8782,923
OPM %13%13%13%13%
Net Profit238274267284

Balance sheet · 5 years

₹ Crore.

ItemMar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity Capital288305305306315
Reserves7151,4852,7123,5387,655
Borrowings367161741118
Fixed Assets—————
Total Assets4,2224,6685,6257,41312,668

Cash flow · 5 years

₹ Crore.

ActivityMar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Operating4839471,028944702
Investing227-21-1,294-568-3,605
Financing-800-612-246-1672,794
Net Cash Flow-90314-512209-109

Shareholding pattern

Latest disclosed

Promoters
56.36%
FII
12.03%
DII
18.01%
Public
13.53%
Government
0.07%

Policy linkages

Schemes where this company is a confirmed or likely beneficiary

No direct policy linkages tracked.