CG Power

The company has been having a lot of grief lately.  First the two postponments and then finally the snapping of the deal with Pauwels Spaco Ltd-an SPV of First Reserve for sale of its power business in Europe, North America and Indonesia stands terminated.

In May 2016, Crompton Greaves had signed an agreement with Pauwels Saco – a SPV of First Reserve. This is for the CG’s Power Businesses in Europe, North America and Indonesia for an Enterprise Value of euro 115 million.

This news apart, there was disappointment on the performance front too. For Q2FY17, the company posted a consolidated net loss of Rs.10 crore v/s profit of Rs.11 crore; this was on a 5% rise in total income of Rs.1495 crore.