CG Power achieves financial turnaround under Murugappa group

CG Power and Industrial Solutions, now part of the Rs 41,713-crore Murugappa group, on Monday said that it has achieved a complete financial turnaround in its first full year of operations under the new management and has cleared net debt of Rs 650 crore, including that related to the CG House.

The company said that FY22 has been a defining year. All the businesses bounced back and performed to their potential, regaining the confidence of customers and vendors, it said in a regulatory filing.