CG Power and Industrial Solutions approves ₹68 crore transformer capacity expansion

The board decisions in numbers

Capacity projects across transformers and switchgear

The company says its Power Transformer facility (T3 Division) is operating at maximum capacity and that there is scope to add 10,000 MVA in the existing facility. The Board approved the project at an estimated ₹68 crore net of taxes, to be completed in 12-15 months. The addition equals 15.4% of the existing 65,000 MVA capacity, which Annexure III shows running at 85% utilisation.

The company says its switchgear facilities face significant capacity constraints. The S1 Unit (OIP) at Ambad would take about ₹300 crore to add 4,236 equivalent units a year, with production tentatively expected within 30-36 months. The S3 Unit-II Phase 2 adds about ₹15.31 crore for 3,600 units a year within 6-9 months.

The GIS Division capex at Vilholi, Nashik rises from ₹35.17 crore to ₹44.62 crore, an extra ₹9.45 crore or 26.9% over the earlier estimate. The enhancement mainly funds an 800 kV high-voltage testing system and contingency, to test 245 kV and 400 kV GIS. The company says about 90% of the project assets are expected to move to the greenfield facility on commissioning, and that all these investments are part of its proposed greenfield switchgear investments.

Two senior management designations

The Board, on the recommendation of the Nomination and Remuneration Committee, designated Rajat Shah, Vice President - Services, and Rushikesh Kulkarni, Chief Growth & Innovation Officer - Industrial Business, as Senior Management Personnel with effect from 23 Oct 2026.

The filing gives their backgrounds. Shah holds an MBA from the University of Michigan and most recently served as Vice President - Services at Tetra Pak AB, Sweden. Kulkarni, an alumnus of BITS Pilani and Symbiosis, has more than 20 years of experience at GIC, Eaton, Whirlpool, Honeywell and Bosch.

What the capex approvals and designations mean for CG Power's shareholders

The company says the capacity additions will meet growing demand, but the filing gives no revenue, margin or return estimate for any project. Not stated: how the ₹300 crore S1 Unit project will be funded beyond the listed mix of internal accruals, equity and QIP funds, whether any of the projects has started, and who succeeds the designated officers.

The next dated steps are the S3 Unit-II and GIS additions, due within 6-9 and 3-6 months, and the T3 expansion, due within 12-15 months.

Reference: Original filing (PDF)