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Electrical equipment Historical case study · data as of 03 Jul 2026 · published 08 Oct 2026 (97 days later)

CG Power and Industrial Solutions — 100-point case study

How CG Power and Industrial Solutions looked on 50 technical and 50 fundamental measures on 03 Jul 2026 — and what happened over the next three months. Education only; not a current view.

Codes	NSE: CGPOWER · BSE: 500093
Close on 03 Jul 2026	₹892.55
Market cap then	₹1,40,713 crore
Valuation	P/E 117.5× · P/B 17.66×
Momentum	RSI (14) 44 · 1-year return +33.7%
Next 3 months	-3.4% vs Nifty 50 -6.9% (to 08 Oct 2026)

Scorecard

Technical — 50 points

15 bullish · 17 neutral · 2 caution · 15 bearish — the picture was mixed.

Fundamental — 50 points

15 bullish · 29 neutral · 2 caution · 3 bearish — the picture leaned positive.

Price chart

Close (to snapshot) Close (after) 50-day avg 200-day avg Support Resistance

Technical analysis — 50 points

Calculated by code from daily prices up to 03 Jul 2026. Standard formulas (RSI, MACD, ADX use Wilder smoothing).

How to read the tags. Each of the 50 points gets one tag. Bullish the reading was favourable. Bearish the reading was unfavourable. Neutral the reading was in a normal range, or gave no clear message. Caution a warning sign or an unusual reading that deserves a closer look. Point 50 counts the other 49 tags. The chart is called positive when bullish tags beat bearish ones by 5 or more, negative when bearish tags beat bullish ones by 5 or more, and mixed otherwise. Under each point you will see what reading earns which tag. Tags describe the data on the snapshot date. They are not signals to buy or sell. Full guide to all 100 points →

A. Trend

#	Point	Reading	Tag	Commentary
1	Short-term trend (20 days)	slope +0.20%/day	Bullish	Over the last 20 sessions the regression line of closing prices was rising about 0.20% a day — a short-term uptrend. Bullish slope above +0.10% a day (short-term uptrend) · Bearish slope below –0.10% a day (short-term downtrend) · Neutral between the two: a flat, sideways phase.
2	Medium-term trend (~5 months)	3M return +36.3%	Bullish	The 100-session trend line was up (+0.41%/day) and the stock was +36.3% over three months, so the medium-term picture was bullish. Bullish slope above +0.05% a day · Bearish slope below –0.05% a day · Neutral in between.
3	Long-term trend (1 year)	1Y return +33.7%	Bullish	Compared with a year earlier the price was +33.7%. A strong positive year. Bullish up more than 10% in a year · Bearish down more than 10% in a year · Neutral between –10% and +10%.
4	Weekly chart trend	10W 895.89 / 30W 748.92	Neutral	On the weekly chart the stock showed a weekly close tangled between the 10-week and 30-week averages. Bullish weekly close above the 10-week average, which is above the 30-week · Bearish weekly close below the 10-week average, which is below the 30-week · Neutral when they are tangled.
5	Swing structure (highs/lows)	last highs 952.00→969.90; lows 804.60→912.00	Bullish	The two most recent swing points showed higher swing highs and higher swing lows — classic uptrend structure. Bullish higher highs and higher lows (uptrend structure) · Bearish lower highs and lower lows (downtrend structure) · Neutral when one is higher and the other lower.
6	ADX (14) — trend strength	24.9	Bearish	ADX at 24.9 shows a trend of moderate strength. ADX measures strength only, not direction. Bullish ADX 20 or more with +DI above –DI (a real trend, pointing up) · Bearish ADX 20 or more with –DI above +DI (a real trend, pointing down) · Neutral below 20: no clear trend. 20–30 is a moderate trend, above 30 a strong one.
7	+DI vs –DI	+DI 20.2 / –DI 27.6	Bearish	–DI was above +DI: sellers had the upper hand in directional movement. Bullish +DI above –DI · Bearish –DI above +DI · No neutral zone for this point.

B. Moving averages

#	Point	Reading	Tag	Commentary
8	Price vs 20-day SMA	937.30 (-4.8%)	Bearish	Close of 892.55 was 4.8% below the 20-day SMA — the short-term trend filter was negative. Bullish close above the average · Bearish close below the average · No neutral zone.
9	Price vs 50-day SMA	887.91 (+0.5%)	Bullish	Close of 892.55 was 0.5% above the 50-day SMA — the medium-term trend filter was positive. Bullish close above the average · Bearish close below the average · No neutral zone.
10	Price vs 200-day SMA	745.22 (+19.8%)	Bullish	Close of 892.55 was 19.8% above the 200-day SMA — the long-term trend filter was positive. Bullish close above the average · Bearish close below the average · No neutral zone.
11	9 / 21 EMA crossover	9E 941.04 / 21E 930.98	Bullish	The 9-day EMA was above the 21-day EMA; the last crossover happened on 08 Apr 2026. Bullish 9-day above 21-day · Bearish 9-day below 21-day · No neutral zone.
12	Golden / death cross (50 vs 200)	last golden cross 15 Apr 2026	Bullish	The 50-day average was 19.1% above the 200-day. The most recent signal was a golden cross on 15 Apr 2026. Bullish 50-day above 200-day (after a “golden cross”) · Bearish 50-day below 200-day (after a “death cross”) · No neutral zone.
13	50-day SMA slope	+11.3% in 20 sessions	Bullish	The 50-day average rose 11.3% over the past month — rising. Bullish rose more than 0.5% · Bearish fell more than 0.5% · Neutral in between: flattening.
14	MA ribbon alignment	937 / 888 / 797 / 745	Bullish	The 20/50/100/200-day averages were perfectly stacked bullish (20 > 50 > 100 > 200). Bullish neatly stacked 20 > 50 > 100 > 200 · Bearish neatly stacked 20 < 50 < 100 < 200 · Neutral when tangled (a transition or range).
15	Monthly anchored VWAP	918.58 (-2.8%)	Bearish	Anchored to the start of July, the volume-weighted average price was 918.58; the close was below it — buyers that month were on average under water. Bullish close above VWAP (that month’s buyers on average in profit) · Bearish close below VWAP · No neutral zone.

C. Momentum

#	Point	Reading	Tag	Commentary
16	RSI (14)	44.0	Bearish	RSI at 44.0 reflected soft, below-average momentum. Bullish RSI 55–70 (positive momentum, not stretched) · Bearish RSI 30–45 (soft momentum) · Neutral 45–55. Caution at 70 or above (overbought) or 30 or below (oversold).
17	RSI divergence (last 40 days)	bearish divergence	Caution	Comparing the last 20 sessions with the 20 before: bearish divergence: price made a higher high but RSI made a lower high. Bullish bullish divergence: price made a lower low but RSI a higher low · Caution for a bearish divergence (price higher high, RSI lower high). Neutral when RSI moved in line with price.
18	MACD line vs signal	MACD 16.79 / signal 23.24	Bearish	MACD was below its signal line — momentum turning or staying negative. Bullish MACD above signal · Bearish MACD below signal · No neutral zone.
19	MACD histogram (5-day change)	-2.94 → -6.44	Bearish	The histogram fell over the last five sessions, meaning momentum was weakening. Bullish histogram rising (momentum improving) · Bearish histogram falling (momentum weakening) · No neutral zone.
20	MACD vs zero line	16.79	Bullish	MACD above zero means the 12-day EMA was above the 26-day EMA — a positive momentum regime. Bullish MACD above zero · Bearish MACD below zero · No neutral zone.
21	Stochastic (14,3,3)	%K 59.0 / %D 75.3	Bearish	Slow stochastic at 59.0 was mid-range with %K below %D. Bullish between 20 and 80 with %K above %D · Bearish between 20 and 80 with %K below %D · Caution above 80 (overbought) or below 20 (oversold).
22	Williams %R (14)	-94.2	Caution	%R of -94.2 put the close near the bottom of its 14-day range. How to read: Caution above –20 (near the top) or below –80 (near the bottom). Neutral in the middle. This point is never tagged Bullish or Bearish.
23	CCI (20)	-126	Bearish	CCI at -126 signalled an unusually strong downward deviation (<–100). Bullish above +100 (unusually strong upward move) · Bearish below –100 (unusually strong downward move) · Neutral within ±100.
24	Rate of change (10-day)	-6.5%	Bearish	Price changed -6.5% over ten sessions. Bullish up more than 2% · Bearish down more than 2% · Neutral between –2% and +2%.

D. Volatility

#	Point	Reading	Tag	Commentary
25	Bollinger Band position (%B)	%B 0.05 (bands 887.11–987.48)	Neutral	%B of 0.05 — inside the bands, lower half. How to read: Caution above 1 or below 0 (outside the bands — an overextended move). Neutral inside the bands.
26	Bollinger width / squeeze	width 10.7% (28th pct of 6M)	Neutral	Band width was at the 28th percentile of the last six months, a normal level. How to read: Caution when the width is in the lowest 15% of six months (a “squeeze” that often comes before a bigger move, direction unknown). Neutral otherwise.
27	ATR (14)	₹29.91 (3.4% of price)	Neutral	A typical day's range was about ₹29.91, or 3.4% of the price — useful for judging how much 'normal noise' to expect. How to read: Information only. A higher % means bigger normal daily swings.
28	Historical volatility (30-day)	39.3% vs 1Y 32.1%	Neutral	Annualised 30-day volatility was 39.3%, close to the one-year level of 32.1%. How to read: Caution when 30-day volatility is more than 1.25× the one-year level. Neutral otherwise.
29	Keltner Channel (20, 2×ATR)	870.33–994.33	Neutral	The close was inside the channel, so no volatility breakout. Bullish close above the upper channel (strong upward push) · Bearish close below the lower channel · Neutral inside the channel.
30	Beta vs Nifty 50 (1Y daily)	1.16	Neutral	A beta of 1.16 means the stock tended to move more than the Nifty 50 day to day. How to read: Information only. Above 1.1 moves more than the market, below 0.9 less, around 1 in line.

E. Volume & money flow

#	Point	Reading	Tag	Commentary
31	Volume vs 20-day average	last day 4.98× / 5-day 1.98×	Neutral	The final session traded 4.98× its 20-day average volume and the last five sessions averaged 1.98× — heavier than usual participation. How to read: Information only. Above 1.2× is heavier than usual participation, below 0.8× lighter.
32	Up-day vs down-day volume (20d)	ratio 0.77	Bearish	Average volume on up days was 0.77× that on down days — distribution-leaning. Bullish ratio above 1.15 (accumulation-leaning) · Bearish ratio below 0.85 (distribution-leaning) · Neutral between 0.85 and 1.15.
33	On-Balance Volume (20d)	OBV falling	Bearish	OBV fell over the month while price fell — volume confirmed the price move. Bullish OBV rising · Bearish OBV falling · No neutral zone.
34	Accumulation/Distribution line	falling (20d)	Bearish	The A/D line fell, meaning closes tended to be in the lower part of daily ranges on meaningful volume. Bullish A/D line rising · Bearish A/D line falling · No neutral zone.
35	Chaikin Money Flow (20)	-0.16	Bearish	CMF at -0.16 indicated net outflows. Bullish above +0.05 (net inflows) · Bearish below –0.05 (net outflows) · Neutral between –0.05 and +0.05.
36	Money Flow Index (14)	54.0	Neutral	MFI, a volume-weighted RSI, was 54.0. Bullish MFI 55–80 · Bearish MFI 20–45 · Neutral 45–55. Caution above 80 (overbought) or below 20 (oversold).
37	Liquidity (avg daily turnover)	₹461 cr/day	Neutral	About ₹461 crore changed hands per day on average over 20 sessions — liquid. How to read: Information only. Above ₹500 crore a day is highly liquid, above ₹50 crore liquid, below that moderately liquid.

F. Price levels

#	Point	Reading	Tag	Commentary
38	Support levels (S1/S2/S3)	799.35 / 727.46 / 705.20	Neutral	Nearest support (prior swing lows) sat at 799.35, 11.7% below the close, then 727.46, 705.20. How to read: Information only. Levels to watch, not good or bad.
39	Resistance levels (R1/R2/R3)	948.05 / 969.90	Neutral	Nearest resistance (prior swing highs) sat at 948.05, 6.2% above the close, then 969.90. How to read: Information only.
40	Monthly pivot points (for next month)	P 920.18 \| R1 953.27 \| S1 859.47	Neutral	Classic pivots from July's high/low/close gave a pivot of 920.18; the close was below it. How to read: Information only.
41	Fibonacci retracement (6M swing)	23.6% 873 \| 38.2% 807 \| 50.0% 753 \| 61.8% 699	Neutral	Measuring the 6-month rise from 525.50 to 980.90, the close was nearest the 23.6% retracement at 873.43. How to read: Information only.
42	52-week high / low	H 980.90 / L 525.50	Neutral	The close was 9.0% below the 52-week high and 69.8% above the 52-week low. Bullish within 5% of the 52-week high · Bearish within 5% of the 52-week low · Neutral in between.
43	Unfilled price gaps (6M)	3 open; latest gap-down 03 Jul at 951.90	Neutral	There were 3 unfilled gap(s). The latest, a gap-down on 03 Jul 2026, left an open level at 951.90 that price had not revisited. How to read: Information only.

G. Patterns

#	Point	Reading	Tag	Commentary
44	Price structure / chart pattern	rising channel	Bullish	Rule-based pattern scan: rising channel — successive higher highs and lows. (Classical patterns like head-and-shoulders are judgement calls; we report only what the rules detect.) Bullish rising channel (both trends up) · Bearish falling channel (both trends down) · Neutral for tight consolidation, a bounce in a downtrend, a pullback in an uptrend, or a sideways range.
45	Breakout / breakdown (20-day)	range 895.00–980.90	Bearish	The close was breakdown below the prior 20-day range of 895.00–980.90 — a range break. Bullish close above the 20-day high (breakout) · Bearish close below the 20-day low (breakdown) · Neutral inside the range.
46	Latest candlestick	Ordinary red candle	Neutral	On 03 Jul the candle opened 911.40, ranged 887.10–926.00 and closed 892.55: Ordinary red candle. Single candles are weak signals on their own. Bullish hammer, bullish engulfing or bullish marubozu · Bearish shooting star, bearish engulfing or bearish marubozu · Neutral for a doji, inside bar or ordinary candle. Single candles are weak signals.
47	Ichimoku Cloud	cloud 766.40–837.20; Tenkan 934.00 / Kijun 931.45	Bullish	Price was above the cloud and the Tenkan line was above the Kijun line — a bullish Ichimoku setup. Bullish close above the cloud · Bearish close below the cloud · Neutral inside the cloud.

H. Relative strength & summary

#	Point	Reading	Tag	Commentary
48	Relative strength vs Nifty 50	1M -5.3% / 3M +27.6%	Bullish	The stock outperformed the Nifty 50 by 27.6 points over three months and underperformed by 5.3 points over one month. Bullish ahead of the Nifty 50 by more than 2 points · Bearish behind by more than 2 points · Neutral within ±2 points.
49	Relative strength vs Nifty 50 (6M)	6M +42.2%	Bullish	No sector index in today's data set, so we show the 6-month comparison instead: 42.2 points ahead of the Nifty 50. Bullish ahead by more than 2 points · Bearish behind by more than 2 points · Neutral within ±2 points.
50	Technical summary	15 bullish · 15 bearish · 17 neutral · 2 caution	Neutral	Across the 49 readings the technical picture was mixed. Levels that mattered: support 799.35, resistance 948.05. This is a description of the chart on 03 Jul 2026, not a forecast. How to read the score: the strongest possible reading is 49 bullish · 0 bearish, and the weakest is 0 bullish · 49 bearish. Most companies land in between. The chart is called positive when bullish tags beat bearish ones by 5 or more, negative when bearish tags beat bullish ones by 5 or more, and mixed otherwise. Even a 49–0 score describes the past and is not a reason to buy, and a 0–49 score is not a reason to sell. Bullish bullish tags beat bearish ones by 5 or more (“positive”) · Bearish bearish tags beat bullish ones by 5 or more (“negative”) · Neutral (“mixed”) otherwise. Strongest possible: 49 bullish · 0 bearish.

Fundamental analysis — 50 points

Uses only results published by 03 Jul 2026: FY26 annual (Apr 2025–Mar 2026), the Jan–Mar 2026 quarter and the Mar 2026 shareholding. ₹ crore, consolidated unless stated. Valuation uses the 03 Jul 2026 close.

How to read the tags. Each of the 50 points gets one tag. Bullish the reading was favourable. Bearish the reading was unfavourable. Neutral the reading was in a normal range, or gave no clear message. Caution a warning sign or an unusual reading that deserves a closer look. Point 50 counts the other 49 tags. The numbers are called positive when bullish tags beat bearish ones by 4 or more and are at least 1.5 times as many, negative the other way round, and mixed otherwise. Under each point you will see what reading earns which tag. Tags describe the data on the snapshot date. They are not signals to buy or sell. Full guide to all 100 points →

A. Valuation

#	Point	Reading	Tag	Commentary
1	P/E (trailing 12 months)	117.5×	Neutral	At ₹892.55 the market valued the company at about ₹1,40,713 crore, or 117.5× the ₹1,198 crore profit of the four quarters to Mar 2026. That is a premium multiple — the market expected growth. How to read: Information only. Below 15 is a low multiple, 15–30 moderate, above 30 a premium (the market expects growth). Compare with peers and the company’s own history.
2	Price / Book	17.66×	Neutral	Market cap was 17.66× the Mar 2026 book value (equity + reserves) of ₹7,970 crore. How to read: Information only. Main yardstick for banks; asset-light businesses usually trade at high P/B.
3	Price / Sales	11.33×	Neutral	The company was valued at 11.33× its trailing-12-month sales of ₹12,418 crore. How to read: Information only.
4	EV / EBITDA (approx.)	86.9×	Neutral	Enterprise value (market cap + ₹118 cr borrowings; cash not netted) was 86.9× trailing operating profit of ₹1,621 crore. How to read: Information only. Lower means cheaper relative to operating profit.
5	Earnings yield	0.9%	Neutral	The inverse of P/E: each ₹100 invested bought about ₹0.9 of annual earnings. Investors often compare this with the ~6–7% yield on 10-year government bonds. How to read: Information only. Often compared with the ~6–7% yield on 10-year government bonds.
6	PEG (P/E ÷ 3-yr profit CAGR)	15.50	Bearish	P/E of 117.5 divided by 3-year profit growth of 7.6% a year gives a PEG of 15.50. Below 1 is often read as growth being cheaply priced; above 2 as expensive. Bullish below 1 (growth cheaply priced) · Bearish above 2 (growth expensively priced) · Neutral 1–2, or when profit did not grow (not meaningful).
7	Dividend yield (trailing 12M)	0.15%	Neutral	Dividends with ex-dates in the 12 months to the snapshot totalled ₹1.3 a share, a 0.15% yield on the ₹892.55 price. Bullish above 3% · Neutral at 3% or less. Never tagged Bearish.
8	Market capitalisation	₹1,40,713 cr	Neutral	At about ₹1.41 lakh crore the company was a large-cap. How to read: Information only. Above ₹1 lakh crore large-cap, ₹30,000 crore–₹1 lakh crore mid-cap, below that small-cap (our rule of thumb).
9	Graham number vs price	₹92.97 vs ₹892.55	Neutral	Benjamin Graham's conservative fair-value yardstick √(22.5 × EPS × book value per share) came to ₹92.97; the price was 860% above it. Quality franchises usually trade above this number. Bullish price below the Graham number · Neutral when the price is above it (most quality companies are).

B. Growth

#	Point	Reading	Tag	Commentary
10	Revenue growth FY26 (YoY)	+25.3%	Bullish	Revenue for FY26 was ₹12,418 crore, +25.3% versus FY25. Bullish above 10% · Bearish below 0% (revenue fell) · Neutral 0–10%.
11	Q4 FY26 revenue growth (YoY)	+25.0%	Bullish	The Jan–Mar 2026 quarter brought ₹3,442 crore of revenue, +25.0% on the same quarter a year earlier. Bullish above 10% · Bearish below 0% · Neutral 0–10%.
12	Net profit growth FY26 (YoY)	+23.2%	Bullish	FY26 net profit was ₹1,199 crore, +23.2% on FY25's ₹973 crore. Bullish above 10% · Bearish below 0% · Neutral 0–10%. Caution if a one-off item distorted the figure.
13	Q4 FY26 profit growth (YoY)	+32.5%	Bullish	Quarterly profit was ₹363 crore versus ₹274 crore a year earlier (+32.5%). Bullish above 10% · Bearish below 0% · Neutral 0–10%.
14	Revenue CAGR (3 years)	21.2%	Bullish	Revenue compounded at 21.2% a year from FY23 to FY26. Bullish above 12% a year · Bearish below 5% a year · Neutral 5–12%. Caution if an acquisition inflated it.
15	Profit CAGR (3 years)	7.6%	Neutral	Net profit compounded at 7.6% a year from FY23 to FY26. Bullish above 12% a year · Bearish below 5% a year · Neutral 5–12%.
16	Revenue CAGR (5 years)	33.2%	Bullish	Over five years (FY21–FY26) revenue compounded at 33.2% a year. Bullish above 12% a year · Bearish below 5% a year · Neutral 5–12%.
17	EPS growth FY26 (reported)	+20.3%	Bullish	Reported EPS went from ₹6.37 to ₹7.66 (+20.3%). Differences from profit growth come from changes in share count (bonus, buyback, new issues). Bullish above 10% · Bearish below 0% · Neutral 0–10%.

C. Profitability

#	Point	Reading	Tag	Commentary
18	Operating margin FY26	13%	Neutral	Operating profit (EBITDA) was 13% of sales in FY26 versus 13% in FY25. How to read: Information only — normal margins differ a lot by industry.
19	Operating margin trend (4 quarters)	13% → 13% → 13% → 14%	Neutral	Quarterly margins moved from 13% to 14% over the last four quarters — broadly stable. Bullish up more than 1 percentage point · Bearish down more than 1 percentage point · Neutral when broadly stable.
20	Net profit margin FY26	9.7%	Neutral	₹9.7 of every ₹100 of revenue ended up as net profit in FY26. How to read: Information only.
21	Return on equity FY26	20.3%	Bullish	FY26 profit was 20.3% of average shareholders' equity. Above ~15% is generally considered good; below 10% weak. Bullish above 18% · Bearish below 10% · Neutral 10–18%. Around 15% or more is generally considered good.
22	ROCE FY26	27%	Bullish	Return on capital employed (debt + equity) was 27% in FY26. Bullish above 20% · Bearish below 10% · Neutral 10–20%.
23	Return on assets FY26	9.48%	Neutral	Net profit was 9.48% of total assets. Bullish banks only: 1.5% or more · Bearish banks only: below 1% · Information only for non-banks.
24	Effective tax rate FY26	26%	Neutral	The company paid about 26% of pre-tax profit as tax; India's base corporate rate is ~25%. How to read: Information only. India’s base corporate rate is about 25%.
25	Other income share of pre-tax profit	13%	Neutral	Non-operating 'other income' of ₹208 crore made up 13% of pre-tax profit. How to read: Caution above 25% (headline profit leans on non-core income). Neutral otherwise.

D. Balance sheet

#	Point	Reading	Tag	Commentary
26	Debt / equity	0.01	Bullish	Borrowings of ₹118 crore were 0.01× equity — very low leverage. Bullish below 0.3 (very low leverage) · Bearish above 1 (high leverage) · Neutral 0.3–1.
27	Debt / EBITDA	0.07×	Bullish	Debt equalled 0.07 years of FY26 operating profit. Bullish below 1× · Bearish above 3× · Neutral 1–3×.
28	Interest coverage	66.1×	Bullish	Earnings before interest and tax covered interest cost 66.1 times. Bullish above 8× · Bearish below 3× · Neutral 3–8×, or not meaningful when interest is negligible.
29	Book value growth	+107.3%	Bullish	Shareholders' equity grew +107.3% from ₹3,844 crore to ₹7,970 crore in FY26. Bullish above 10% (banks: above 12%) · Bearish below 0% (non-banks only) · Neutral otherwise.
30	Capital work in progress	₹725 cr (36% of fixed assets)	Neutral	Projects under construction (CWIP) were 36% of fixed assets — a big expansion pipeline not yet earning. How to read: Information only. Above 20% means a big expansion pipeline that is not yet earning.
31	Working capital days	70 days	Neutral	Working capital tied up equalled 70 days of sales (FY25: 16). Negative means suppliers/customers fund operations. How to read: Information only. Lower is generally more efficient; negative means suppliers or customers fund the business.
32	Cash conversion cycle	48 days	Neutral	It took 48 days to turn inventory and receivables into cash, net of supplier credit. How to read: Information only. Shorter is generally better.
33	Debtor days	86 (FY25 74)	Neutral	Customers took 86 days on average to pay, versus 74 a year earlier. How to read: Caution when debtor days rose more than 20% in a year (collections stretching). Neutral otherwise.

E. Cash flow

#	Point	Reading	Tag	Commentary
34	Operating cash flow FY26	₹702 cr	Neutral	The business generated ₹702 crore of operating cash in FY26 versus ₹916 crore in FY25. Bullish positive and higher than the year before · Bearish negative · Neutral when positive but lower. Information only for banks.
35	Free cash flow FY26	n/a	Neutral	Free cash flow line not available on source page. Bullish positive · Bearish negative · Neutral when not available.
36	Cash conversion (CFO ÷ net profit)	0.59×	Caution	Operating cash flow was 0.59× reported profit — cash lagged profits; worth watching. Bullish above 1× (profits well backed by cash) · Caution below 0.7×. Neutral 0.7–1×.
37	Free-cash-flow yield	n/a	Neutral	Not available. Bullish above 4% · Neutral at 4% or less.
38	Free cash flow — 3-year total	n/a	Neutral	Not available. Bullish positive total · Bearish negative total · Neutral when not available.
39	Capex FY26 (CFO – FCF)	n/a	Neutral	Not available. How to read: Information only.

F. Dividends & shareholder returns

#	Point	Reading	Tag	Commentary
40	Dividend payout ratio FY26	17%	Neutral	The company paid out about 17% of FY26 profit as dividends. How to read: Information only. High payout suits mature businesses; growing firms often keep more.
41	Dividend consistency (3 years)	14% / 20% / 17%	Bullish	Payout ratios for FY24 / FY25 / FY26 — dividends were paid every year. Bullish paid every year · Neutral when irregular. Never tagged Bearish.
42	Share capital change (FY25→FY26)	+2.9%	Caution	Paid-up equity capital changed +2.9% (₹306 cr → ₹315 cr). A fall indicates a buyback; a rise indicates new shares were issued. Bullish fell 1% or more (a buyback) · Caution when it rose 1% or more (new shares issued). Neutral when unchanged, or for a bonus/split.

G. Ownership

#	Point	Reading	Tag	Commentary
43	Promoter holding	56.36% (-1.70 pts YoY)	Bearish	Promoters owned 56.36% at Mar 2026 versus 58.06% a year earlier. Bearish fell more than 1 percentage point in a year · Neutral otherwise. Never tagged Bullish.
44	Foreign institutional holding	12.03% (-0.94 pts YoY)	Neutral	FIIs held 12.03% at Mar 2026, down from 12.97% a year before. Bullish up more than 1 percentage point · Bearish down more than 1 percentage point · Neutral within ±1 point.
45	Domestic institutional holding	18.01% (+4.43 pts YoY)	Bullish	Mutual funds, insurers and other DIIs held 18.01%, up from 13.58%. Bullish up more than 1 percentage point · Bearish down more than 1 percentage point · Neutral within ±1 point.
46	Number of shareholders	5.2 lakh (+5.3% YoY)	Neutral	The shareholder count moved from 4.9 lakh to 5.2 lakh in a year — a rough gauge of retail interest. How to read: Information only — a rough gauge of retail interest.
47	Promoter pledge	none reported	Neutral	Our source showed no pledged promoter shares. How to read: Information only. Any sizeable pledge is a risk to note.

H. Quality & summary

#	Point	Reading	Tag	Commentary
48	Financial health checklist (Piotroski-style, 8 tests)	4/8	Bearish	Passed: positive profit, positive operating cash flow, operating margin improved, no meaningful dilution (<3%). Failed: CFO > net profit, leverage fell, ROA improved, asset turnover improved. Bullish all tests passed, or all but one · Bearish half the tests or fewer passed · Neutral in between.
49	Automated screen flags	3 strength(s) · 2 weakness(es)	Neutral	Strengths: Company is almost debt free; Company has a good return on equity (ROE) track record: 3 Years ROE 30%; Company has been maintaining a healthy dividend payout of 17%. Weaknesses: Stock is trading at 17.0 times its book value; Working capital days have increased from 31 days to 70 days. (Flags generated by the data source’s rule screen.) How to read: Information only.
50	Fundamental summary	15 bullish · 3 bearish · 29 neutral · 2 caution	Bullish	On the numbers published by 03 Jul 2026 the fundamental picture leaned positive. Valuation: P/E 117.5×, P/B 17.66×. This describes the data, not a recommendation. How to read the score: the strongest possible reading is 49 bullish · 0 bearish, and the weakest is 0 bullish · 49 bearish. Most companies land in between. The numbers are called positive when bullish tags beat bearish ones by 4 or more and are at least 1.5 times as many, negative the other way round, and mixed otherwise. Even a 49–0 score describes the past and is not a reason to buy, and a 0–49 score is not a reason to sell. Bullish bullish tags beat bearish ones by 4 or more and are at least 1.5× as many (“positive”) · Bearish the same the other way round (“negative”) · Neutral (“mixed”) otherwise. Strongest possible: 49 bullish · 0 bearish.

News in the three months before the snapshot

Company news from 03 Apr 2026 – 03 Jul 2026 that an investor could have known on the snapshot date.

14 Apr 2026 CG Power announces changes in senior management personnel — The company disclosed changes in its senior management personnel effective April 14, 2026. source
21 Apr 2026 CG Power receives income tax order for AY 2022-23 — The company disclosed an income tax department order for assessment year 2022-23 involving an additional disallowance of about Rs 21.4 crore (INR 214.3 million). source
06 May 2026 CG Power Q4 FY26 consolidated profit rises to Rs 362 crore — Q4 FY26 consolidated sales rose about 25% YoY to roughly Rs 3,442 crore and net profit to Rs 362 crore from Rs 274 crore. FY26 sales were Rs 12,418 crore; order inflows rose 33% to Rs 19,616 crore and the unexecuted backlog was Rs 17,107 crore at March 31, 2026. source
04 Jun 2026 CG Power sets up extra high-voltage switchgear facility at Nashik — The company established its S3 Unit-II extra high-voltage switchgear manufacturing facility in Nashik. source

What happened next (03 Jul 2026 → 08 Oct 2026)

Price went from ₹892.55 to ₹862.05 by 08 Oct 2026 (-3.4%) while the Nifty 50 moved -6.9% — outperforming by 3.5 points.
Highest ₹954.90 on 16 Jul 2026; lowest ₹814.85 on 30 Jul 2026.
S1 799.35: held on a closing basis.
S2 727.46: held on a closing basis.
R1 948.05: not cleared on a closing basis.
R2 969.90: not cleared on a closing basis.
200-day SMA: price was above it at the snapshot and stayed on the same side through the period.
Apr–Jun 2026 results (reported 24 Jul 2026): revenue ₹3,281 crore (+14.0% YoY), net profit ₹308 crore (+15.4% YoY), operating margin 12% vs 13% a year earlier (Screener consolidated figures).

Later news

06 Jul 2026 CG Semi starts commercial production at Sanand OSAT facility — CG Power's semiconductor joint venture with Renesas and Stars Microelectronics began commercial production at its Sanand, Gujarat chip assembly and test facility, with initial capacity reported at 200 million chips a year. source
24 Jul 2026 CG Power reports Q1 FY27 results; shares fall about 4% — Consolidated revenue rose 14% YoY to Rs 3,280.81 crore and net profit from continuing operations rose 15% to Rs 308.28 crore. The semiconductor segment loss widened to about Rs 50 crore. Shares fell about 4% on the day. source
19 Aug 2026 CG Power discloses suspected cyber event on IT systems — After market hours on August 18 the company disclosed a suspected cyber incident, stating core systems and operations were not impacted; shares fell nearly 4% intraday on August 19. Subsidiary Axiro Semiconductor also agreed to acquire Tosil Systems for Rs 16.44 crore. source
01 Sep 2026 CG Power appoints Samit Khanna as VP - Consumer Products — Samit Khanna joined as Vice President - Consumer Products effective September 1, 2026. The report also notes an order backlog of Rs 18,965 crore as of June 30, 2026. source
04 Sep 2026 CG Power establishes new transformer plant at Sehore — The company announced a new transformer manufacturing facility at Sehore, expanding its production capacity. source

Educational summary. On 03 Jul 2026 the technical picture was mixed and the fundamental picture leaned positive. Over the next three months the stock moved -3.4% against -6.9% for the Nifty 50. A mixed chart gave no clear message, and the outcome shows why mixed readings are hard to act on. One case proves nothing on its own; the value is in seeing many cases over time. This page does not say whether to buy, sell or hold CG Power and Industrial Solutions today.

Method designed by Pawan Kumar Sharma, CPA · ACCA · CIA. Numbers are computed by our engine from the sources listed below.

Sources: daily prices — Yahoo Finance history pages; financials and shareholding — Screener.in (fetched 08 Oct 2026); index — Nifty 50 via Yahoo Finance; news — linked articles. Calculations by Manage Our Finance. Report a correction

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