CG Power and Industrial Solutions Ltd (CG), a Mumbai-headquartered engineering conglomerate, has secured a significant order from M/s Kinet Railway Solutions Limited for the supply and servicing of railway products, including propulsion kits with motors, transformers, and other components, for the manufacturing of 10 Vande Bharat trainsets.The initial purchase order for the railway products is valued between ₹400 crores to ₹450 crores. In addition to this order, CG has also signed a separate 35-year service agreement as part of the long-term supply contract.
CG has a long-standing presence in the railway sector, with over 86 years of expertise. The company offers a comprehensive range of products, including traction machines and systems, railway propulsion systems, and signalling products. Recently, CG has ventured into the Train Collision Avoidance System (TCAS) or KAVACH domain.
The company is a part of the Murugappa Group since November 2020, which owns a diverse portfolio of businesses ranging from agriculture and engineering to financial services.CG manufactures traction motors, propulsion systems, signalling relays, and a wide range of products for industrial and power sectors. The company operates 18 manufacturing plants across India and Sweden, with a workforce of approximately 3,113 employees. In FY24, CG reported consolidated revenues of ₹8,046 crores (USD 964 million).
CG has a long-standing presence in the railway sector, with over 86 years of expertise. The company offers a comprehensive range of products, including traction machines and systems, railway propulsion systems, and signalling products. Recently, CG has ventured into the Train Collision Avoidance System (TCAS) or KAVACH domain.
The company is a part of the Murugappa Group since November 2020, which owns a diverse portfolio of businesses ranging from agriculture and engineering to financial services.CG manufactures traction motors, propulsion systems, signalling relays, and a wide range of products for industrial and power sectors. The company operates 18 manufacturing plants across India and Sweden, with a workforce of approximately 3,113 employees. In FY24, CG reported consolidated revenues of ₹8,046 crores (USD 964 million).
Shares of CG Power ended 2.6% higher at a price of ₹612.50 on Tuesday.
