The increase of the transformer production capacity at two of CG Power and Industrial Solutions‘ facilities in Madhya Pradesh, at an expense of Rs 126 crore, has been approved by the board, the firm announced on Wednesday. According to CG Power and Industrial Solutions, the business pre-redeemed non-convertible debtentures worth Rs 200 crore, making it debt-free.
In a statement, the company revealed its financial results for the October-December 2022 quarter, reporting an after-tax profit of Rs. 227.86 crore for the quarter under review and Rs. 545.06 crore for the comparable quarter the previous year.
“The Board of directors have approved a proposal to expand the manufacturing capacity of transformers at its plants in Bhopal and Malanpur with an investment of Rs 126 crore,” the company said.
