CG Power and Industrial Solutions Ltd

CG Power and Industrial Solutions Ltd has announced a change in its senior management. Mr. Ajay Jain, Vice President - Transformer Business, has tendered his resignation due to personal reasons. His resignation will be effective from the close of business hours on September 30, 2026. Mr. Jain has been with the company and has expressed gratitude for the opportunities and support received. He has committed to ensuring a smooth handover of responsibilities during his notice period. The company has provided details as required by SEBI regulations in Annexure A and B of the filing.

CG Power and Industrial Solutions Ltd has announced the closure of its trading window for designated persons. This closure is in compliance with SEBI (Prohibition of Insider Trading) Regulations, 2015, and the company's internal code. The window will be shut from September 30, 2026, and will reopen 48 hours after the publication of the company's unaudited financial results for the quarter and half-year ended September 30, 2026. This measure is standard practice to prevent potential insider trading before the official release of financial information.

CG Power and Industrial Solutions Ltd has received an updated stay order from the Income Tax Department regarding a revised tax demand of ₹215.59 crore for Assessment Year 2022-23. The original demand was ₹188.78 crore, which was later revised to ₹236.73 crore and then further revised to ₹215.59 crore after a rectification order. The company has been granted a stay on the balance tax demand until the disposal of its appeal before the Commissioner of Income Tax (Appeals). However, 20% of the total revised demand must be deposited, with ₹30 crore payable in installments.

CG Power and Industrial Solutions Ltd has announced the rollout of the first transformer from its new greenfield manufacturing facility in Sehore, Madhya Pradesh. This facility, a significant expansion of its transformer business, has an initial operational capacity of 10,000 MVA, with plans to progressively reach a total capacity of 45,000 MVA. The total investment for this project is ₹792 Crores, financed through QIP and internal accruals. The company highlights that this expansion will bolster India's power infrastructure manufacturing capabilities, support the 'Aatmanirbhar Bharat' initiative, and cater to increased demand from renewables, data centers, and export markets. The Hon'ble Chief Minister of Madhya Pradesh graced the occasion, emphasizing the project's contribution to local employment and the state's industrial growth.

CG Power and Industrial Solutions Ltd. has announced the rollout of the first transformer from its new greenfield manufacturing facility in Sehore, Madhya Pradesh. This marks a significant milestone as the plant, spread over 50 acres, is India's largest single-location power transformer manufacturing facility. Initially operational with a capacity of 10,000 MVA, the plant is set to progressively increase its production to a full planned capacity of 45,000 MVA, bringing the total transformer manufacturing capacity to 1,20,000 MVA. The investment for this expansion is ₹792 Crores, financed through QIP and internal accruals. The facility aims to cater to increased demand from renewables, data centers, and exports, reinforcing India's power infrastructure manufacturing capabilities.

CG Power and Industrial Solutions Ltd announced the appointment of Mr. Samit Khanna as Vice President - Consumer Products, effective September 1, 2026. Mr. Khanna brings over 18 years of extensive leadership experience across various sectors including Consumer, Retail, Digital Platforms, Private Equity, and Management Consulting. His expertise spans business scaling, P&L leadership, sales transformation, omnichannel distribution, brand building, and innovation. He has previously held leadership roles at prominent organizations like Disney+ Hotstar and Yum! Brands, as well as entrepreneurial ventures. This appointment is in line with the company's strategic growth and expansion plans in the consumer products segment.

CG Power and Industrial Solutions Limited, through its wholly-owned subsidiary Axiro Semiconductor Private Limited, has completed the acquisition of 100% shareholding in Tosil Systems Private Limited. The acquisition, initially agreed upon for a consideration of ₹16.44 Crores, involved Axiro purchasing 5,00,000 equity shares of Tosil. Consequently, Tosil Systems Private Limited has now become a wholly-owned subsidiary of Axiro Semiconductor Private Limited, as per Section 2(87) of the Companies Act, 2013. This move signifies a strategic expansion for CG Power in the semiconductor sector.

CG Power and Industrial Solutions Ltd has announced the appointment of M/s. Price Waterhouse Chartered Accountants LLP as its new Statutory Auditors. This appointment is effective from August 19, 2026, and will continue until the conclusion of the company's 90th Annual General Meeting in 2027. The appointment is to fill a casual vacancy arising from the resignation of the previous auditors, M/s. S R B C & CO LLP. The decision was made by the Board of Directors based on the recommendation of the Audit Committee and is subject to shareholder approval. Price Waterhouse Chartered Accountants LLP is a well-established firm with extensive experience in auditing listed companies.

CG Power and Industrial Solutions Ltd has disclosed a suspected cyber event impacting its IT systems. The company has confirmed that the core systems and operations remain unaffected. In response, CG Power is collaborating with external and internal cybersecurity experts for investigation, remediation, and mitigation. The company has also formally notified CERT-In about the incident. This disclosure is made in accordance with Regulation 30 of the SEBI (LODR) Regulations, 2015.

CG Power and Industrial Solutions Ltd, through its wholly owned subsidiary Axiro Semiconductor Private Limited, has entered into a definitive agreement to acquire 100% of Tosil Systems Private Limited for ₹16.44 Crores. Tosil is an established semiconductor and embedded engineering services company. This acquisition is expected to enhance CG Power's semiconductor design capabilities. The deal is subject to the completion of conditions precedent and is anticipated to close by August 31, 2026. The transaction is an arm's length deal and does not involve related parties.