CG Power: The Numbers Behind the Two-Futures Week
The stock recovered 3.6% on Monday as the OSAT milestone outbid the China-tender fear. Here is the full analytical picture — price, technicals, four quarters of financials, and the levels that matter.
₹925.05
Jul 6 close, +3.59%
−5.7%
high ₹980.50
+76.0%
low ₹525.50
~122×
TTM PAT ₹1,199 Cr
₹3,442 Cr
+13.6% OPM
5.3M
5-day 9.0M — increasing
Three events moved this stock in one week
CG Semi commences commercial production at the Sanand OSAT plant
CG Semi — CG Power's joint venture with Japan's Renesas Electronics and Thailand's Stars Microelectronics — started commercial production at its G1 chip-packaging facility in Sanand, Gujarat, inaugurated by the Prime Minister. Peak capacity 300 million units a year, part of a ₹7,600 Cr two-facility investment; the G2 facility is under development. (Filed on a Saturday; the +3.6% is Monday's reaction.)
Read:This is the company's second growth engine going from project to product. Revenue contribution will be small initially, but the milestone removes execution risk from the biggest optionality in the stock — India's first major private-sector chip-packaging line, with customers in automotive, defence, industrial and IoT.
BSE filing, Jul 4Government allows four Chinese-owned equipment makers into transmission tenders
TBEA Energy, Nanjing Electric India, New Northeast Electric India and Taikai Electric — Chinese-owned manufacturers with Indian facilities — were permitted to bid for government power-transmission projects. The whole domestic power-equipment complex fell: CG Power −7% on 24.7M shares, Hitachi Energy and GE Vernova T&D down up to 10%.
Read:Hits the core business — transformers and switchgear — where CG Power earns nearly all of today's revenue. More bidders in government tenders means pricing pressure risk. Counterpoint: the government cited a genuine capacity shortage (demand outrunning domestic supply) and called the exemption a non-precedent. The first actual tender outcomes will show whether the −7% was right.
Nashik EHV switchgear plant commissioned — +80% capacity
CG Power commissioned its S3 Unit-II extra-high-voltage switchgear facility in Nashik, adding 7,200 breaker units a year in the 33kV–245kV range, funded from internal accruals (₹39.5 Cr).
Read:Shows the core business is still investing into visible demand — the same capacity shortage that prompted the tender-policy change. It's the counterweight to the China-competition fear: CG Power is expanding into a supply-constrained market.
BSE filing, Jun 4The India–Japan economic-security pact signed on July 2 — with semiconductors listed first among priority sectors — frames all three: CG Semi is the working example of the corridor the two governments just committed to. Monday's +3.6% close was the market weighing the chip milestone against the tender fear, and choosing the milestone.
How the week traded
48.1
Neutral
925.05
−5.7% from high
- vs 20-DMA (₹936.65)
- vs 50-DMA (₹890.64)
- vs 200-DMA (₹745.20)
Trend: bullish
The technical picture matches the news flow: Friday's China-tender selloff knocked the stock below its 20-day average for the first time since May, but Monday's recovery held both the 50- and 200-day averages comfortably, and the 30-day support at ₹858 was never tested. RSI at 48 is neutral — the froth from the June run has reset without the trend breaking.
Four straight quarters of growth, margin holding
FY26 closed with ₹1,199 crore of trailing-twelve-month profit on steadily rising revenue — a ~26% YoY growth pace at the Q3 comparison. At ₹925 the market pays roughly 122× that trailing profit: the semiconductor option and the grid-capex cycle are both in the price, which is why single-day policy news moves the stock as hard as it did last week.
₹980.50
30-day high = all-time high
₹925.05
₹858
30-day support; Friday's low never reached it
The next data points
Q1 FY27 results
Trading window closed Jun 30; results this month. Order book and any tender-pricing commentary after the Chinese entry.
OSAT in numbers
Whether CG Semi's revenue or utilisation appears in segment disclosures — the milestone becomes measurable.
₹980 level
The all-time high doubles as the only overhead resistance; a close above it puts the stock in price discovery.
Informational and educational content only. Not investment advice.