Shares of this large-cap company jumped on reporting a 2-fold jump in its Q4 net profit
The company manages and uses efficient and sustainable electrical energy, offering end-to-end solutions to utilities, businesses, and consumers.
The company reported a two-fold increase in net profit for the quarter under review, coming in at Rs 240.23 crore as opposed to Rs 109.02 crore for the same period the year prior. In Q4FY23, the company's total revenue climbed by 27.29% to Rs 1802.32 crore from Rs 1415.97 crore in the similar quarter the year prior.
On a consolidated basis, the company recorded a more than three-fold increase in net profit for the fourth quarter ended March 31, 2023, from Rs 111.65 crore for the same quarter the previous year to Rs 426.22 crore. In Q4FY23, the company's total revenue climbed by 28.42% to Rs 1917.05 crore from Rs 1492.77 crore in the similar quarter the year prior.
Share Price Movement of CG Power and Industrial Solutions Ltd
The scrip opened today at Rs 315.60 and touched a high and low of Rs 323.30 and Rs 310.65, respectively. Its 52-week high stood at Rs 338.50, whereas its 52-week low was Rs 157.90. The current market cap of the company is Rs 49,143.09 crore. Promoters hold 58.12%, whereas the Institutional and non-institutional holdings are 22.56% and 19.32%, respectively.
CG Power and Industrial Solutions Ltd is an engineering company that offers a wide range of products, services, and solutions for industrial and power equipment that meet a wide range of applications. Since its 1937 founding in India, the company has been a pioneer in the control and use of electrical energy, maintaining its position as a market leader. CG Power and Industrial Solutions Ltd, which has its roots in India and has been enjoying a reputation of stature for more than 70 years, has expanded to become a multinational organisation. With a permanent presence and production sites spread over nine nations in Asia, Europe, and North America, CG is quickly establishing itself as a top supplier of high-end, "smart" electrical, industrial, and consumer products and solutions globally.
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