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CG Power charts out Rs 400-cr expansion roadmap

Thursday, 06 Jul 2023
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Murugappa Group's CG Power and Industrial Solutions intends to invest Rs 400 crore in capacity expansion across its plants over the next two years. The planned investment is towards a multi-tiered strategy involving the expansion of capacity, export-oriented focus, and technological advancements to fuel the next phase of growth.

Apart from capacity expansion, de-bottlenecking and modernising existing facilities, will be undertaken across units in Ahmednagar, Goa, Bhopal and Malanpur. The expansion is expected to be funded through internal accruals.

While its research and development (R&D) operations are future-focused with respect to products and technologies, the company is also looking to explore collaborative partnerships to augment its internal endeavours and seek wider access to new opportunities. Besides this, the share of revenue from exports will go from five percent to 20 percent over the next four to five years.

Further, the firm is simultaneously focused on steady volume growth, efficiency and new initiatives being seeded for electric vehicles (EVs), railways and consumer durables.

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