CG Power and Industrial Solutions Limited has informed the Exchange about General Updates
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CG Power's wholly owned foreign subsidiary CG International Holdings Singapore (holding 51%) has agreed to sell the factory assets (land, plant & machinery, furniture, equipment) of its Indonesian JV PT Crompton Prima Switchgear Indonesia (CPSI) to the JV partner PT Prima Layanan Nasional Enjiniring (PLNE) for IDR 155 Billion (~₹75-80 crore approx.). CPSI has been a non-operating entity classified as discontinued operations since FY 2022-23 and contributes nil to turnover, revenue, or net worth. The deal is signed on 25 February 2026 and is expected to complete by 31 March 2026. The consideration will first be used to settle CPSI's external liabilities and the balance will go towards repaying shareholder loans. The company has confirmed there will be no adverse financial impact on its financial statements.
This is housekeeping rather than a strategic event — CPSI was already written off as discontinued operations with no revenue contribution, so the actual P&L impact is minimal. Shareholders may view it as a positive cleanup that reduces legacy overhang and tidies up the balance sheet ahead of FY26 results.