OSAT / ATMP

CG Power and Industrial Solutions

CGPOWERNSEMega CapParent: Murugappa Group

Live₹860.35syncing…

Industrial and power systems company with an ISM-approved OSAT JV at Sanand alongside its core motors, transformers and switchgear business.

Market Cap

₹1.35L cr

Price

860

1Y 25%

Direct exposure

80/100

0–100 directness

Buy

Fundamental

77/ 100

Quality of growth, returns, cash conversion and balance sheet

Technical (TQ-100)

88/ 100

A+

Trend, momentum, volume and relative strength composite

Valuation

22/ 100

Higher = cheaper vs peers and own history

Final composite

70/ 100

Blended decision input

Data transparency

What's real, what's pending, on this page

Real financials loaded

✓ Real / verified

· Live price, day change, market cap — NSE direct
· 1Y OHLCV, RSI(14), 50/200 DMA, 1M/3M/1Y returns, RS vs Nifty — computed from real NSE OHLCV
· Sector P/E — NSE direct
· Promoter %, pledge %, MF/FII/public split, 9-quarter history — Trendlyne
· Earnings call AI summaries — Trendlyne (where available)
· Technical (TQ-100) score — computed from real OHLCV
· Annual revenue / EBITDA / PAT / OCF / FCF / equity / assets — Trendlyne (audited annuals)

⚠ Analyst-set (qualitative)

· Segment classification + semicon directness score — analyst seed
· Bull/bear case + monitorables (curated thesis) — analyst seed
· Governance risk score (seed) — being replaced by AI-agent assessment
· Synthesized 5Y forecast removed entirely (was inaccurate)

Real financials extracted for 42 of 45 companies. See /data-sources for full provenance.

CG Power and Industrial Solutions · CGPOWER

₹860.35+5.10% over 6M

Price50 DMA200 DMA

RSI (14)

Momentum oscillator · 6M view

Volume (60D)

Fundamental score (SageOne 100)

77/ 100A

Growth 20 / Margin 15 / ROC 20 / Cash 15 / Leverage 10 / Reinvestment 8 / Accounting 7 / Governance 5 minus red flags (capped -20).

Base 77

Growth quality/ 20

14.1

Rev 1Y 22.1% · 3Y CAGR 20.3%

Margin & profitability/ 15

7.1

EBITDA 12.4% · PAT 11.4%

Return on capital/ 20

20.0

ROCE 35% · ROE 30%

Cash flow quality/ 15

7.8

OCF/EBITDA 67% · FCF yield 0.0%

Leverage discipline/ 10

10.0

Net Debt/EBITDA -1.50x

Reinvestment runway/ 8

8.0

ROCE × retention proxy

Accounting quality/ 7

5.9

OCF conversion proxy

Governance/ 5

4.3

Pledge 0.0% · Risk 14/100

✓ Computed from real Trendlyne annuals (revenue, EBITDA, PAT, OCF, equity).

Technical score (TQ-100)

88/ 100A+

Computed from real 1Y OHLCV pulled from NSE direct: trend, momentum, volume, RS vs Nifty, MA cluster, mean reversion, volatility, patterns minus red flags.

Base 88

Trend structure/ 20

19.9

Above 200DMA · -1% from 52W high

Momentum velocity/ 15

15.0

RSI(14) 58 · 1M 4.0%

Volume dynamics/ 15

13.5

Bucket: Mega Cap

Relative strength/ 15

9.5

RS vs Nifty 8%

MA cluster/ 10

10.0

200DMA + 1Y trend confirmation

Mean-reversion runway/ 10

9.0

RSI(14) 58; ideal 50-60

Volatility profile/ 8

3.6

Bucket: Mega Cap

Pattern integrity/ 7

7.0

Trend continuation proxy

AI research agents

Re-classify segment exposure and re-assess governance risk by running fresh AI agents on the latest data. Results cache to data/agents.json.

Segment classifier

Maps to value-chain segments + computes 0-100 directness

Seed: OSAT / ATMP · 80/100

Governance assessor

Forensic-accounting flags + 0-100 risk score

Seed: 14/100 risk

AI thesis

Generates a fresh thesis grounded in this company's data. Wires to Anthropic when ANTHROPIC_API_KEY is set, otherwise returns a deterministic mock.

Curated thesis

Analyst-set bull, bear and monitorables · use AI thesis above for a fresh take

Premium industrial compounder with optionality from OSAT JV; valuations rich but execution credibility is high.

Bull case

+Murugappa governance reset playing out
+OSAT JV optionality
+Industrial cycle tailwinds

Bear case

−Premium valuations
−OSAT JV ramp risk
−Cyclicality of core business

Key monitorables

OSAT JV milestonesOrder book for transformers/motorsCapex discipline

Semiconductor exposure

How direct, how visible

Primary segment

OSAT / ATMP

All segments

OSAT / ATMP, Power Semiconductors, Power & Infrastructure

Exposure type

Direct

Policy beneficiary

Yes

Import substitution

High

Governance risk score

14/100 (lower = better)

Financial snapshot

Latest reported metrics · mock data, ready for live financials

Rev growth (1Y)

22.1%

Rev CAGR (3Y)

20.3%

EBITDA margin

12.4%

PAT margin

11.4%

ROCE

35%

ROE

30%

OCF / EBITDA

67%

Net Debt / EBITDA

-1.5x

Promoter holding

58.0%

Promoter pledge

0.0%

Valuation

P/E (TTM)

109.1

Forward P/E

65.0

EV/EBITDA

94.4

EV/Sales

11.7

P/B

22.0

FCF Yield

0.0%

Dividend Yield

0.20%

Hist. percentile

80%

Peer percentile

88%

Technicals

RSI(14)

1M return

4.0%

1Y return

25%

From 52W high

-1%

RS vs Nifty

>200 DMA

Yes

Annual financials — real data

Extracted from Trendlyne · audited annuals · TTM + last 6 fiscal years

✓ Real

Line	TTM	FY25	FY24	FY23	FY22	FY21	FY20
Revenue	₹11.6k cr	₹11.6k cr	₹9.5k cr	₹7.8k cr	₹6.7k cr	₹5.2k cr	₹2.6k cr
↳ YoY growth	+0.0%	+22.1%	+22.3%	+16.5%	+28.0%	+102.6%	—
EBITDA	₹1.9k cr	₹1.4k cr	₹1.2k cr	₹1.0k cr	₹642 cr	₹157 cr	₹160 cr
↳ EBITDA margin	16.3%	12.4%	12.9%	13.1%	9.6%	3.0%	6.2%
PAT	₹1.3k cr	₹1.3k cr	₹975 cr	₹1.0k cr	₹785 cr	₹627 cr	₹689 cr
↳ PAT margin	11.4%	11.4%	10.3%	12.9%	11.8%	12.0%	26.8%
OCF	₹889 cr	₹960 cr	₹332 cr	₹890 cr	₹452 cr	₹-335 cr	₹635 cr
↳ OCF / EBITDA	46.9%	66.9%	27.1%	87.6%	70.3%	-213.7%	397.1%
FCF (= OCF − capex)	₹-2.6k cr	₹47 cr	₹-252 cr	₹890 cr	₹452 cr	₹-339 cr	₹494 cr
Total Equity	—	—	—	—	—	—	—
Total Assets	₹12.0k cr	₹6.8k cr	₹5.4k cr	₹4.2k cr	₹3.8k cr	₹3.9k cr	₹3.4k cr
↳ ROE	—	—	—	—	—	—	—
↳ ROA	11.0%	19.3%	18.0%	23.8%	20.5%	16.2%	20.6%

Source: Trendlyne (Standalone where Consolidated unavailable). Last refresh on real-data ingest.

Promoter pledge & shareholding history

From Trendlyne · 9 quarters · synced Invalid Date

Pledge: 0.0%

Promoter

56.4%

Mutual Funds

9.5%

FII

12.0%

Public

13.5%

Promoter holding trend

58.1

Mar

58.1

Jun

58.1

Sep

58.1

Dec

58.1

Mar

56.4

Jun

56.4

Sep

56.4

Dec

56.4

Mar

Δ:-1.7% over 9 quarters

Commentary

·Promoter holding declined from 58.1% to 56.4% in Jun 2025
·No pledge

Management quality

Capital allocation, debt discipline, alignment, governance composite. Computed from disclosed metrics.

Capital allocation

Sustained high return on capital indicates disciplined reinvestment.

ROCE 35%, div yield 0.2%

Promoter holding

Promoter has strong skin in the game.

58.0%

Promoter pledge

No pledging — cleanest signal.

0.0%

Debt discipline

Net cash balance sheet.

Net Debt/EBITDA -1.50x

Cash conversion

Acceptable conversion; track working capital cycles.

OCF/EBITDA 67%

Governance composite

Clean governance signals across pledging, RPTs, auditor, KMP pay.

14/100 risk

Variant perception

What the market is pricing in versus our read, and what would invalidate the thesis.

What the market is pricing in

Continued execution and policy tailwinds. The market has rewarded CG Power and Industrial Solutions for delivery and is paying a premium for what comes next.

What we think it's missing

Direct semiconductor exposure with strong policy alignment is structurally underestimated until project milestones materialize. Re-rating likely to be event-driven, not linear.

Thesis killers

×Working capital blowout disclosed in next quarterly result
×Project execution slip beyond stated commissioning date
×Multiple compression on a single weak earnings print

References

Wire to live data sources in production

NSE filings Screener BSE corporate filings Annual report (latest)Concall transcript (latest)Investor presentation