Vellayan Subbiah, Chairman, CG Power
Even as the uncertain business environment continues into FY27, the themes of energy transition, AI-driven data centre expansion, and semiconductor localisation, among others, are set to keep CG Power’s momentum intact and further drive business performance this fiscal, Vellayan Subbiah, Chairman, CG Power and Industrial Solutions, said.The Murugappa Group-owned CG Power specializes in power transmission, distribution, and rail transportation, and putting down his thoughts in the FY26 annual report, Subbiah said that the themes driving the addressable market for CG Power are all multi-decade themes.“CG enters this environment with expanded capacity, strong order visibility, a growing export base, and an organisation that has demonstrated its ability to perform under pressure,” he said.CG Power delivered consolidated revenue of ₹12,418 core in FY26, growing 25 per cent over the prior year, with net profit rising 23 per cent to ₹1,196 crore . These results were achieved in a year of significant global disruption: conflict in the Middle East, commodity volatility, evolving tariff regimes, and the reconfiguration of global supply chains.Interestingly, export order bookings of CG Power more than doubled year-on-year in FY26. “The single largest order in CG’s history was not a domestic order, rather it was a ₹900 crore contract to supply power transformers for a hyperscale data centre in the United States,” Subbiah said in the annual report.He called out the increasing demand for datacentres and grid modernization efforts as a key tailwind for the company.CG’s entry into semiconductors through Axiro in FY25 and the launch of CG Semi’s advanced OSAT facility (G1) in August 2025, reects a longer arc of our strategic ambition, he said. Axiro, the semiconductor deisgn firm part of CG Power group, has over 150 IPs in front-end technologies and more than 200 chip designs, which have been deployed in over 600 million chips globally, he said.Trade diplomacyThe company highlights accelerating trade diplomacy including the signing of various FTAs as a particularly significant development in FY26.“These agreements open preferential market access across key geographies for Indian goods, including engineering products, capital equipment, chemicals, and pharmaceuticals. This positions India as an increasingly attractive destination for supply chain diversification away from geopolitically exposed manufacturing hubs,” CG power said in its annual report.Published on June 30, 2026
