CG Power to expand transformer production
The Murugappa Group company, CG Power and Industrial Solutions Ltd will expand its power transformers and distribution transformer units at an outlay of $15.4 M.
Image source: DG Next
India, Chennai: The Murugappa Group company, CG Power and Industrial Solutions Ltd will expand its power transformers and distribution transformer units at an outlay of $15.4 M (Rs 126 cr).
The firm closed Q3 of FY23 with a net profit of $26.7 M (Rs 242.75 cr) down from $44 M (Rs 359.61 cr) logged during the previous year corresponding period.
In a regulatory filing, the company said its Board had approved the investment of $15.4 M to expand the power transformers and distribution transformer units at Malanpur and Bhopal.
The proposed expansion would increase the capacity from 17,000 MVA to 25,000 MVA for power transformer and from 6,900 MVA to 9,900 MVA for distribution transformers.
Source: DT Next
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